CardRatings.com Monthly Newsletter March 2004
March 1, 2004
Recent Articles
Saving for Your Child's Education with a Credit Card
Can using a credit card today help you to avoid debt in the future? Get the inside scoop on the new 529 rebate credit cards.
The Eufora Card is Worth a Look
Innovative programs indicate an innovative card. Among other things, Eufora cardholders can earn eash and a chance to win a car.
Are No Fee Reward Credit Cards Really Free?
No annual fee reward credit cards are everywhere these days. But, as is often the case with the card industry, there are some "strings attached". These tips can help you learn how to play the reward credit card game and win.
Free Credit Related Articles:
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Dealing with Christmas Credit Card Debt
America's Love Affair with Card Rewards/ Rebates
Don't Let "Spring Break" Expenditures "Break" You!
Is it Wise to Make Your Tax Payment with a Credit Card?
Fixed Rate vs. Variable Rate Cards
Demystifying the Credit Scoring/ Rating Process
Credit Card Cash Advance Pitfalls
Teens and Credit - A Recipe for Disaster?
Credit Lessons for Retirees
Debit or Credit? Which do you Vote for?
Card Registration Services
Credit Insurance
Disposable Credit Card Numbers
California Legislation Helps Curb Card Fraud
Credit Cards can Help Reduce your Rental Car Bill
Credit Cards for the Rich and Famous
The New Travelocity Credit Card
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More topics...
Guest5555 asks, "I just want to know if a credit card company can keep charging you interest once the card has been charged off."
Credit Expert, NightStar, replies, "No, they can't charge interest, late fees, over the limit fees... But they may have it in their contract to charge collection fees."
Guest writes, "I believe the Chase Freedom MasterCard is fleecing me. I recently accepted a $5,000 check at 0% percent interest for 6 months back in January 2004. I charged my card $210 in February and $73 in March. I sent them a payment of $716.87 in February. Thinking that I was paying the purchases in full and some for the $5,000. They charged me $3.31 in finance charges in February and have charged me $4.99 in finance charges for March. The interest rate they are charging me is 13 % on the average daily balance. I called the Chase Customer Service center to complain. I first spoke to a customer service representative and asked her to reverse the finance charges. When she could not help me I asked to be transferred to a supervisor. When the supervisor could not help I asked to speak to a manager. The manager was polite compared to the supervisor and the representative. They all had the company line that all payments I make go against the $5,000 and nothing goes against the purchases so I will be paying finance charges until the $5,000 balance is paid off. I have had the Chase card for 10 years and have never paid finance charges until now. Nothing in their terms and conditions indicated that this is their policy. I am disgusted with their business methods and the only way to get even is to pay off the balance and cancel my account."
Reply from Credit Expert, nativechild48, "Are you sure the interest is not for purchases? If they say zero % interest for the 5000. 00 it should be interest only for purchases, not for the 5000.00 check. But Chase is famous for bait and switch. See if you can transfer or pay off the balance....Good Luck!!"
Reply from guest, mouse, "NEVER use a card for both BT and PURCHASES unless both are included in the 0.00% offer. I have cards for BT ONLY and cards for PURCHASES ONLY. I NEVER do both on the same card."
Guest, Sam, asks, "Anyone want to share strategies for deleting inquiries. Recently, I went auto shopping and the dealer and banks slapped like 8 EFX inquiries on me when the dealer told me it was just going to be one, and that they would just fax the EFX report to the banks. All the banks pulled an additional EFX report the same day. Although EFX says all the auto inquiries count as one, I was denied a personal loan due to excessive inquiries shortly after. Credit Guru Deletion Strategies Please!"
NightStar replies, "It is all trial & error when disputing inquiries. Sometimes calling in disputes will get you there, sometimes you have to mix it up with writing in dispute or disputing on line. I have not disputed inquiries with Equifax, but I have terrible luck so far with TransUnion (keep trying online) and they keep sending me a letter saying that it is just a matter of fact and that they won't investigate. Don't settle for that though because inquiries do affect the credit scoring and if you did not authorize then dispute by all means."
Visit our active MESSAGE BOARD! Ask a question, give your opinions. Select questions answered by our board monitor. Our board currently has over 13,500 posts (since May 2000) and new posts are added daily! We are seeking new consumers like you to become involved in our board community.
| Recent Credit Card Reviews by Consumers Like You! |
Following is a sampling of the latest consumer reviews that can be found by clicking the "Cardholder Reviews" link above. We take pride in the quantity (our site offers approx. 15,000 reviews of 859 different credit cards) and quality of the consumer reviews that can be find on our site. New reviews are added on a daily basis. The cards are rated on a scale from 1 to 5, with 5 being the highest recommended. Credit Card: Providian Visa® Gold Review: I have received fast friendly service. They are always polite and helpful. I have had difficulty getting through online due to my computer and they were helpful by placing the payment by phone for me so I would not be charged a late fee. They were very helpful. Best Feature: online service: notification by email / allows 48 hour payment Review: I have been with Providian for about 1 1/2 years. I have always paid on time and paid my balances off. I requested that my interest rate be lowered and the response I received was "we can't lower it, an automated services reviews your credit and will notify when you're eligible for a review." They gave criteria to meet, which I met. This card is a rip off and it preys unsuspecting people trying to establish credit. I have a 16.99% APR with this card, however with Bank of America my interest rate is 9.90%. My credit is good and Providian treats me like I filed Chapter 7. I'm closing my account because this card is a trap. Because I always paid off my card (almost like an American Express Card), they never got the opportunity to apply that 16.99%. I would suggest for those looking for a credit card, do not get Providian, because unless you treat them like an American Express Card, you will pay triple what you owe. Credit Card: Plains Commerce Bank Total Visa® Card Review: I am glad that SOMEONE gave me another chance to get it right. I'm getting married, would like to buy a house, and just had a baby. It's time to start over or again with my credit. I didn't always have the money to send in for a deposit on one of the other cards, so I was glad this card charged it all on the card. I simply paid it off, then used the card for the purchases I needed! It was easy. Now my account was paid in full and I could still use the money I put on my card! Review: After having this card for sum years, dumb me, i found that if you try to apply for a unsecured card,they will refuse you till you get rid of this card,,,the fee,s are out of this world,,,there is no myccpay.com,,,,pay site,,,,,,try find it,,,,,this is a tampa based office try get some one on the phone,,,,goood luck Emerge MasterCard® Review: I was really happy with Aria which was provided by Providian then it changes to Emerge out of the blue. At the time when that happened, I decided that I would do a settlement arrangment to have the account settled once and for all. We agreed on a settlement amount and I thought that was the last I would hear from Emerge. Lo and behold, the next month, I get a bill with 2 months of late fees charges and then a finance charge on the late fee charges billed as transactions. I was very upset. I tried to call their customer service line and was only frustrated because the representative kept asking me to repeat myself. I decided to pay the balance up and I would highly highly recommend that no one ever gets an Emerge Mastercard...they truly rip people off. Review: I can't believe that Providian sold us out like that and then you get this Emerge card with a HIGH interest rate. The customer service people are snotty and they charge you a unbelievable rate to pay your bill over the phone after they charge you an ungodly interest rate to begin with. Wish I'd never taken the offer from Providian! Credit Card: Express Card Review: I paid off my Express card several years ago and closed the account. I was checking my credit and there it is open along with a couple of others wfnnb held that I had closed and paid off. It was quite a shock. Review: I received my Express card from WFNNB when I was 18. I had NO established credit and I was approved for a student account. I have since made every payment on time and have NEVER had any trouble out of WFNNB. The only people who have trouble out of them are people who do not make their payments on time. The Cardholder Review section is a unique feature of our site and, to the best of our knowledge, there is no other organization or company that offers more consumer reviews of credit cards. It's all about consumers helping other consumers. As your might expect, this section of our site has been one of the most popular sections of our site since it was introduced in the summer of 2000. New reviews are posted on a daily basis! We hope that you will find this section of our site useful and that you will visit it on a regular basis. |
Important Note! The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we can not guarantee the accuracy of the information in this article. Please verify all terms and conditions of any credit card prior to applying.
You are welcome to print a copy of any of our articles and distribute them for educational purposes. If you are a webmaster, you can post any of our articles on your site provided that you include a link to our site. Please click here for more information about free credit card articles.
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