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Credit Cards and Auto Insurance Inquiries

Guest: dmband
Post subject: Credit Cards and Auto Insurance Inquiries
Posted: Fri Aug 25, 2006 10:57 pm

I am thinking about checking a bunch of car insurance companies to see if I can get a lower rate and I was wondering what effect all the credit checks they do will have on my credit score.

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Guest: hdporter
Credit Expert (100+ Posts)
Post subject: Credit Cards and Auto Insurance Inquiries
Posted: Sat Aug 26, 2006 8:14 am

Per Equifax, these inquiries are treated similar to other informational inquiries and do not factor into your FICO score:

Quote:

What information is NOT used in calculating my FICO® score?

Certain types of inquiries such as promotional, account review, insurance, employment-related inquiries, or inquiries when you request your own credit report

- Harry

Guest: maddybeagle
Credit Expert (100+ Posts)
Post subject: Credit Cards and Auto Insurance Inquiries
Posted: Sat Aug 26, 2006 8:22 am

Maybe they shouldnt but I know that they can be noted as hard inquiries and interfere with getting credit....I dont think it is worth the effort to get a lot of insurance quotes....

Guest: hdporter
Credit Expert (100+ Posts)
Post subject: Credit Cards and Auto Insurance Inquiries
Posted: Sat Aug 26, 2006 8:29 am

You've seen them show up in the hard inquiry section of your report vs. the section of Account Review/"only seen by you" inquiries?

Not challenging your statement ... I simply have no experience in this area.

- Harry

Guest: maddybeagle
Credit Expert (100+ Posts)
Post subject: Credit Cards and Auto Insurance Inquiries
Posted: Sat Aug 26, 2006 10:42 am

yes...I think it happens often....when I applied for my mortgage refi a few years back....I had to explain inquires on my report....2 of them were for shopping for insurance....my existing isurance carrier just runs a soft inquiry, though....The same happens for many of my existing credit accounts (credit cards run soft inquiries)...

Also, had a coworker get declined for a credit card because had just went insurance shopping...lots of hard inquiries.... I think others have had similar posts here also...

Moving Personal Credit to Business Credit Card

Guest: maddybeagle
Credit Expert (100+ Posts)
Post subject: Moving Personal Credit to Business Credit Card
Posted: Fri Jun 23, 2006 5:41 pm

I heard amex allows you to do...how about citibank...?

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Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Moving Personal Credit to Business Credit Card
Posted: Fri Jun 23, 2006 8:38 pm

Yes, Citibank lets you do it. Amex even lets you do it online.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"

Guest: maddybeagle
Credit Expert (100+ Posts)
Post subject: Moving Personal Credit to Business Credit Card
Posted: Fri Jun 23, 2006 10:08 pm

thanks. I got some work to do then

Guest: micky
Post subject: Moving Personal Credit to Business Credit Card
Posted: Thu Jul 13, 2006 8:56 am

No citibank dose not allow reallocation of available credit line between personal and business cards. I have just asked for it and they rejected it.

Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Moving Personal Credit to Business Credit Card
Posted: Thu Jul 13, 2006 10:50 am

Well, I asked for it and had no problems. Did you personally guarantee your business card?
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"

Credit Cards to Establish Good Credit

Guest: nefertiti66
Post subject: Credit Cards to Establish Good Credit
Posted: Thu Jul 13, 2006 10:28 am

My credit score is 751.
No current credit cards, school loan 24k and in good payment status for 3 years (federal loan) and one credit card i paid off 6 years ago 1100 that was left from college.
I want to get a credit card to establish good credit (paying off everymonth and only using 30% or less of the limit).
I applied for the citi dividend and was denied.
I was told that cap 1 does not report limits and will be negative on my report if i get one????
What card SHOULD i apply for ?
I have an excellent score but no current cards (the reason why citi said NO to me)

Please help!

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Guest: phantomega1
Post subject: Credit Cards to Establish Good Credit
Posted: Thu Jul 13, 2006 10:36 am

I would say go for AMEX or Discover. They have good name value, decent APRs, and from what I hear they will give you a decent limit. Bank Of America is really good about giving generous limits also, but they don't have the rewards that you can get from AMEX or Discover, and since you plan on paying off your card every month, you definately need a rewards card.

I would encourage AMEX. I just got approved for their Blue Cash card with a decent limit, even though I want it to be a little higher. Discover denied me two years ago, and I haven't decided if I want to give them my business and apply again.

Good Luck!
_________________
I can't commit. I don't even know if I like Pepsi or Coke.

Guest: dascxs
Post subject: Credit Cards to Establish Good Credit
Posted: Thu Jul 13, 2006 11:31 am

Amex always looks good. Blue or Costco TrueEarnings.

Guest: hdporter
Credit Expert (100+ Posts)
Post subject: Credit Cards to Establish Good Credit
Posted: Thu Jul 13, 2006 11:56 am

Another tack is to apply for an "easy credit', maintain it for 6 mo, and then go after the big guys. Gas Cards are notable. Target is another.

- H.

Guest: multiplierx
Post subject: Credit Cards to Establish Good Credit
Posted: Thu Jul 13, 2006 6:35 pm

My first advice is avoid most of the "easy credit". It's not needed and not worth having it show on your credit reports for the next decade.

BOA is a good choice. You could try Amex or Discover. The other possibility is a credit union. Many credit unions will let anyone apply. Most CU cards have good "prime" terms. I'm sure you could easily get a credit union card.

Your other possibilities are gas or store charge cards. It'd only take 1 of each to start good history. Just choose cards that you'll keep for many years.

Guest: fire3000
Credit Expert (100+ Posts)
Post subject: Credit Cards to Establish Good Credit
Posted: Thu Jul 13, 2006 7:09 pm

BOA is a little more lenient than Citi. If they decline you, they will probably mail you an invitation for their 99/500 semi-secured card ($99 deposit for a credit limit of $500 and the deposit will be refunded in less than a year if payments are on time). Discover is even harder to get approved for than Citi. If you can join a local credit union that issues credit cards and open up a savings account there, you have a good chance of being approved.

Guest: hdporter
Credit Expert (100+ Posts)
Post subject: Credit Cards to Establish Good Credit
Posted: Thu Jul 13, 2006 10:06 pm

Quote:
My first advice is avoid most of the "easy credit".

I'm puzzled. I was the one who used the expression "easy credit", making it clear that I was noting accounts that are pretty accessible to lite credits (specifically suggesting gas cards and Target).

You go on to suggest a gas or store card as possibilities yourself.

Was it just an ambiguity in my wording?

btw, welcome to the group. I get the feeling my posts rub you the wrong way. If so, it's unfortunate.

- H.

Guest: DavidPalmer
Post subject: Credit Cards to Establish Good Credit
Posted: Fri Jul 14, 2006 11:13 am

go with BofA, which i got as my first credit card as a senior in college. I had no credit history, not even student loans, since i didnt have to take out any for college. They started be off with a $900 limit. You shouldnt get rejected because i at that point didnt have a credit history aswell, but then again i had been banking with them for over 2 years

Good Student Credit Cards

Guest: FaithNGrace
Post subject: Good Student Credit Cards
Posted: Mon Jul 10, 2006 10:56 pm

Quick Question: Which of these student cards would be the most friendly to college students with no/limited credit history?

BOA Student Platinum Visa
AMEX Blue for Students
MBNA for Students
or
Discover Student Clear

It's better to spread the apps over several months, right?

Thanks a bunch!
_________________
FaithNGrace
slowly learning about the wonderful world of credit!

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Guest: davej
Post subject: Good Student Credit Cards
Posted: Tue Jul 11, 2006 2:12 am

I guess BoA would be the easiest to get. And given the acquisition of MBNA we might see their student cards merge sometime soon. Discover may be a little tougher to get, but this may not be the case with student cards... AmEx for students is another good card, and AmEx is known for their generous credit limits. In fact, if you don't have a lot of recent inquiries you will most likely qualify for all of them.

Guest: hdporter
Credit Expert (100+ Posts)
Post subject: Good Student Credit Cards
Posted: Tue Jul 11, 2006 2:33 am

Most student cards are designed for people with limited credit experience and therefore likely friendly so long as you meet stated income requirements, provided you have no negative credit information reported.

A card choice should be driven, by among other things, how you expect to use it. If you expect to carry a balance, a lower rate card is preferable. If you expect to pay in full, then a strong rewards card is best.

As a student, I encourage you to push very hard to pay the card in full. Limited income and a natural urge toward impulse purchases can mean that you max the card out early on, leaving yourself at a disadvantage once you leave school. Further, ideally you should never carry a balance that is greater than 50% (preferably no more than 30%) if you want to receive future consideration for prime credit on limited history.

-- Discover: Of the cards you mention, has among the best interest rates (beating out some others by as much as 2%), but on the typical modest student purchase budget, is likely to pay less than half in rewards (considering high reward rates on other cards plus bonus rewards on grocery and gas purchases). That's compensated for by being a cash reward -- most others reward in merchandise cards -- and in offering a double reward rate if you redeem the Discover reward in the form of merchandise cards. The card has a strong reputation.

-- MBNA potentially offers the best available fixed rate. However, I'm somewhat leary of the card. They have a reputation for significantly increasing rates if you are late in making a payment (even one day) or have a recurrent record of running the balance above 50% of the credit limit. At one time, they were known to increase your rate if another creditor reported adverse information to the credit bureaus, however I believe they've ceased that practice. In short, is has a prime reputation among those who maintain a pristine credit record. However, those with lesser performance have a distaste for MBNA. This card isn't a reward card, which is a consideration if you don't intend to carry a balance. A "vanity" plus, is that they offer a "branded" card featuring the logos/mascots for a large number of universities.

-- BofA: Higher rate and not (I believe) a rewards card. Now merged with MBNA. (In fact, the MBNA website features both logos). This card has different and less attractive terms. I have a strong experience with BofA, however, I'd leave it for later consideration as a student card.

-- Amex Blue: I have little exposure to Amex. Clearly a prime "name plate". Higher purchase rate.

---- You don't mention Citibank. They feature competitive rewards and interest rates (not highest nor lowest). I mention them simply because our 17 year personal relationship has been the strongest of any with which we've been involved. They were the most accomodating when we fell into economic distress. I have very high regard for them.

I think over the next year you should cultivate a relationship with two card issuers -- looking to start of on the strongest footing with each prior to graduation. I personally might recommend seeking out Citibank first and then MBNA after 9 mo.

As you say, it's best to spread applications rather than make them all at once. It's hardly a hard call, though, and others might advise otherwise. I'd recommend Citi or Discover as your first app., following in 2 mo with a 2nd app and another 3 mo w/ a 3rd app. with other issuers if you're unsuccessful. I don't advise rushing this. I'd exclude MBNA from your search for a initial card. Once you obtain an iniitial card, in your shoes I might choose to hold back for 6 months, establish some track record by carry a very modest balance (less than $100) month to month, and then go for MBNA -- assuming that you're looking to rigidly adhere to credit terms and balance discipline (and why wouldn't you

Good luck!

- Harry

Guest: FaithNGrace
Post subject: Good Student Credit Cards
Posted: Tue Jul 11, 2006 12:37 pm

Thanks so much for all of the info. I didn't mention Citi because I just recently got the mtvU Visa from them. I figured it would look better if I had another card from a different company. I think I can probably submit another application in about a month or two, I just wanted to figure out which one to try first. I think two cards will be more than sufficient to head back to school with. (At least, I hope so! ) I was leaning towards BOA because I've only heard good things about them. Good idea?

My friend got denied for the Citi mtvU card (couldn't verify student status) and she has decided she doesn't even want to bother with them again. I will pass along the info about the other cards so she can figure out which one she wants to try for. Right now she thinks she's going to try BOA or AMEX. Are they more likely to refuse her since she got denied by Citi?

Thanks again!
_________________
FaithNGrace
slowly learning about the wonderful world of credit!

Guest: hdporter
Credit Expert (100+ Posts)
Post subject: Good Student Credit Cards
Posted: Tue Jul 11, 2006 3:18 pm

Sounds like you've got your head together on this. I might suggest you go for MBNA. If rejected, go for Discover.

- H.

Guest: FaithNGrace
Post subject: Good Student Credit Cards
Posted: Thu Jul 13, 2006 1:08 am

Thanks I'm slowly learning how all of this stuff works. I knew there were credit scores and that too many inquiries could hurt your score, but I have learned so much more from this board! I didn't even know there were student cards before I visited this site! I'm getting anxious to apply for another card (not sure which one yet!), but I am waiting so my apps are at least 3 months apart.

As far as my friend goes, someone on another site said BOA would be the most forgiving with regards to the denied Citi app and somebody else said that AMEX really doesn't care about your history with other companies. The BOA thing sounds about right, given everything I've read about them, but the thing about AMEX sounds really out of character. I always heard that AMEX was especially picky about who they approved. Are they really that relaxed with the student cards?

Thanks again for all the advice... I appreciate it!
_________________
FaithNGrace
slowly learning about the wonderful world of credit!

Guest: DavidPalmer
Post subject: Good Student Credit Cards
Posted: Fri Jul 14, 2006 11:15 am

i always tell people BofA student platinum visa, which was the very first card i ever got. As take the advice of the more seasoned posters. I cant remember my APR, but then again i always pay off full every month

Guest: Board Monitor
Board Monitor/ Administrator
Post subject: Good Student Credit Cards
Posted: Fri Jul 14, 2006 3:31 pm

FaithNGrace-

Just a quick note that you can comparison shop for student cards here:

http://www.cardratings.com/studentcreditcards.html

Good luck!
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews

Citi Platinum Select Credit Card

Guest: creditcardman
Post subject: Citi Platinum Select Credit Card
Posted: Fri Jul 14, 2006 7:29 am

Hi Everyone

This is my first post. I would be applying for a citi credit card and after comparing various college cards i found out that this purticular card doesnt provide any rebates compared to the MTV one or the Dividend Select or the Drivers Edge. Why would anyone apply for such a card when others with rewards are available in the college category?

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Guest: DavidPalmer
Post subject: Citi Platinum Select Credit Card
Posted: Fri Jul 14, 2006 11:11 am

couldnt tell you off the top of the head, but most people i know while i was in college either had the Chase rewards card which is what i have or they had the dividend select.

Guest: guessindigo
Credit Expert (100+ Posts)
Post subject: Citi Platinum Select Credit Card
Posted: Fri Jul 14, 2006 11:50 am

[quote="creditcardman"]Hi Everyone

This is my first post. I would be applying for a citi credit card and after comparing various college cards i found out that this purticular card doesnt provide any rebates compared to the MTV one or the Dividend Select or the Drivers Edge. Why would anyone apply for such a card when others with rewards are available in the college category?[/quote]

Low rates, high credit lines. Rewards cards carry a higher apr

Guest: creditcardman
Post subject: Citi Platinum Select Credit Card
Posted: Fri Jul 14, 2006 12:04 pm

I dont think that is the case with Citi College Cards. All the Citi College Cards carry an APR of 18.24%.

Bank of America Credit Card Nine Month Credit Increase

Guest: DavidPalmer
Post subject: Bank of America Credit Card Nine Month Credit Increase
Posted: Fri Jul 14, 2006 11:19 am

ive read on many places, one which being this forum, that after 9 months of having an account open with BofA, they will automatically give you a CL increase. Well, i got the student card from them back in mid-sept and it is now mid-july and ive yet to get my automatic CL increase. Ive been on time with every payment paying in full every month except 1 and ive not gone over the CL, so is there an explanation for why ive yet to get my CL increase. Should i wait another month and see what happens or call them to find out

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Guest: fenster
Credit Expert (100+ Posts)
Post subject: Bank of America Credit Card Nine Month Credit Increase
Posted: Fri Jul 14, 2006 11:33 am

You're misinformed, BofA never implements automatic CLIs, you've to ask for 'em.

Go online, look for the link "request a limit increase", it'll let you know right there and then if you get it. Ususally they'll do a soft inquiry for CLIs, but sometimes they ask your permission to do a hard inquiry before instating an increase.
_________________
beware of everything

Guest: guessindigo
Credit Expert (100+ Posts)
Post subject: Bank of America Credit Card Nine Month Credit Increase
Posted: Fri Jul 14, 2006 11:49 am

Thats not entirely accurate fenster. There are some rare instances when bofa will auto increase your credit limit. However, your right, the general rule is that you need to call and ask for one, or use the CLI link on the website.

Guest: tonygoldston
Credit Expert (100+ Posts)
Post subject: Bank of America Credit Card Nine Month Credit Increase
Posted: Fri Jul 14, 2006 12:06 pm

The 9 month rule for BOA is that you usually cannot ask for a CLI until you have an account that has been opened for 9 months.

Guest: hdporter
Credit Expert (100+ Posts)
Post subject: Bank of America Credit Card Nine Month Credit Increase
Posted: Fri Jul 14, 2006 12:28 pm

We have 3 BoA accounts. Each limit has been increased twice. Each time it was on the basis of automatic reviews. Two limit requests have both been declined; both without hard pulls.

----------------------

My Gold a/c was opened 1/04 w/ auto CLI 12/04 and 9/05.
My Plat a/c was opened 4/04 w/ auto CLI 12/04 and 10/05.

My wife's Gold account was opened 1/04.

A CLI request 10/04 was delined.
No hard pull (likely no pull at all). Reasons cited were high utilization on her account, limited purchases, and no recent transactions.

She received an auto CLI 3/05.

A CLI was requested 10/05 and again declined.
She was told it hadn't been enough time since her last increase. There was no bureau report pulled.

Her limit was increase automatically 1/06.

-----------------------------------------------------------------------------------

We've kinda given up on BoA CLI requests and just wait. The experience of other's apparently varies.

Credit Card Limit on Balance Transfers

Guest: AJ
Post subject: Credit Card Limit on Balance Transfers
Posted: Sat Jun 17, 2006 5:49 am

Why do banks offer balance transfers and claim that you can use up to your available limit ( of course leaving a little left on the card ) then they turn around and say that you are using too much of the limit they gave you? For example, if you have 9k, how close to the 9k should you get?

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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Credit Card Limit on Balance Transfers
Posted: Sat Jun 17, 2006 7:08 am

Quote:
"AJ"
Why do banks offer balance transfers and claim that you can use up to your available limit ( of course leaving a little left on the card ) then they turn around and say that you are using too much of the limit they gave you? For example, if you have 9k, how close to the 9k should you get?

LEAVE $100--$500 UNUSED

Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Credit Card Limit on Balance Transfers
Posted: Sat Jun 17, 2006 7:56 am

I'd keep it under $8,000 at least--and preferably under $4400.

Banks seem to get nervous if you use more than 90% of your available credit. Banks are very happy if you use less than 50% of your available credit.

I understand some people do what mouse suggests and go for years without any adverse effects. Others, though, say that they do have adverse effects when over 90%. Still others recommend staying under 50% as a strategy--that keeps your credit scores high and encourages banks to offer you intro offers at 0% and more BT offers at good rates.

I know it's hard to keep below 50% when you have free money available. I have trouble doing that myself. What I do is stay under 90% at all times, and if the limit is small (for me, small is under $10K) stay under 50%. I have a few cards with limits of 40K+, so when I get an offer on those that I want to use I go for the 89% level!
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"

Guest: bullet875
Credit Expert (100+ Posts)
Post subject: Credit Card Limit on Balance Transfers
Posted: Sat Jun 17, 2006 10:42 am

I spoke with a Chase underwriter yesterday and he suggests that you stay under 50%. Anything more than that ends to make the card companies a little nervous unless you have a lo9ng credit history.

Good Business Credit Cards

Guest: BigDog
Post subject: Good Business Credit Cards
Posted: Fri Jun 09, 2006 1:46 am

Hi,

Looking for a Business Credit Card that gives out hight credit lines.
I need a Visa or Master Card - Not Amex - Amex no good over seas

I got a ADVANTA offer and it looks to good to be true,
15 months 0% and 5% Cash Back.
Does anyone have a ADVANTA that can tell me if they are good to deal with.

How long to find out if you are approved with ADVANTA.
Do they base your credit limit on your personal credit score (My score is in the hight 700's) or do they look at your business.
If not what other banks out there offer business cards.

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Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Good Business Credit Cards
Posted: Fri Jun 09, 2006 9:55 am

The Advanta card is fine--when I applied for it in November, I got a call the same day and the card arrived quickly.

Problem is, the credit limit assigned to me was $2500, lower than any of my other cards. I called and asked for a higher limit, and that was denied because my account was too new to qualify for a credit limit increase.

The 5% is only on certain purchases, and it's limited to $25 per month. There are no problems with the card, but it's not very useful to me. You might get a better limit.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"

Guest: BigDog
Post subject: Good Business Credit Cards
Posted: Fri Jun 09, 2006 10:32 am

Thanks for the heads up.
My lowest Credit Line is 9000 - Not looking for a 2 or 3 Grand Card.
If there giving you 0% and 5% back - I quess the lines would be low. Again I am quessing.

I hope someone else can share about Advanta or any other BUZ Card they have.

Guest: beyond platinum
Credit Expert (100+ Posts)
Post subject: Good Business Credit Cards
Posted: Sat Jun 17, 2006 9:57 am

Advanta gave me a $15000 limit to start with but they will go up to $50,000 and so far I like the card. One thing in particular I like is that I can do B/T's, purchases, cash advances, and convenience checks all at the same 7.99% rate minus fees.

Like polonius said, you are limited to the $25 per billing cycle so if you bought a $1000 computer, you would only get $25 instead of $50.
_________________
"Believe not everything, but only what is approved: the former is foolish, the latter the act of a sensible man." --Democritus

Guest: cameron
Post subject: Good Business Credit Cards
Posted: Sat Jun 17, 2006 11:09 am

I got one for $10000 CL, and I think there is a $50 BT fee.

BestBuy Credit Card

Guest: gsr
Post subject: BestBuy Credit Card
Posted: Fri May 12, 2006 12:47 am

Does anyone know which credit report is pulled when you apply for a bestbuy card (in california)? And if you apply in store, do they pull a credit report or instantly approve you?
_________________
5 Months of credit =

1.Bank of America Platinum Student
2.Citi Dividend Student
3.Citi Mtvu Student
4.Hsbc Cash Back Platinum Select
5.Paypal Platinum

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Guest: jlrdc909
Post subject: BestBuy Credit Card
Posted: Fri May 12, 2006 6:37 am

There have been past posts regarding Best Buy. They pull a credit report on everyone, I have no clue which one they pull in California. But in this crazy world of credit cards, you might get approved for an AMEX with a $10000.00 limit and still be declined for a Best Buy card with a limit of $300.00

Guest: moniqueclaire
Post subject: BestBuy Credit Card
Posted: Fri May 12, 2006 5:29 pm

Hi:
Best Buy is sponsored by HSBC(Household Bank). They pull on all 3
bureaus EX EQ and TU simulatneously.
I even remember that they did that when I request a CLI back in Mar 04
on a Household Gold MC. At least they gave me 1500.00 but reflected on all 3 bureaus.

Thanks and Have a good week
________________

Guest: WellManicuredMan
Post subject: BestBuy Credit Card
Posted: Fri May 12, 2006 11:01 pm

I've never had a Best Buy card and don't ever want one. But how do people even make use of their card if they give really low limits. I thought people got them for buying computers, stereo equipment, big screen TVs, etc... not like shopping at Target where you can actually buy several things with a $500 limit (I don't have a Target card and don't want one either).

Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: BestBuy Credit Card
Posted: Sat May 13, 2006 1:14 am

This works with all of the electronics stores. Their standards are a bit lower than most. If you go in to make a major purchase, choose your computer or TV first. Then let them offer you the store MasterCard or VISA. Unless you're a total deadbeat you'll get approved for at least $1,000.00 over and above the price of your purchase. Why? They want to make the sale. Also, Circuit City and a few other stores offer from 18 to 24 months interest free on major purchases.
_________________
Do not let what you cannot do interfere with what you can do.

Guest: usmsci
Credit Expert (100+ Posts)
Post subject: BestBuy Credit Card
Posted: Mon May 15, 2006 1:39 pm

they do pull all 3 CB's. my avg credit score was about 650 or so and i got a Best Buy CC with a $2,000 CL and Circuit City Rewards Cards of a $1,500 CL. waiting for CLI time soon

Guest: gsr
Post subject: BestBuy Credit Card
Posted: Mon May 15, 2006 2:43 pm

cool, thanks for the info. If they are gonna pull all 3 i dont think it would be worth getting the card at all.
_________________
5 Months of credit =

1.Bank of America Platinum Student
2.Citi Dividend Student
3.Citi Mtvu Student
4.Hsbc Cash Back Platinum Select
5.Paypal Platinum

Diner's Club Card Reveiw

Guest: Board Monitor
Post subject: Diner's Club Card Reveiw
Posted: Fri May 12, 2006 10:34 am

This message posted by e-mail request from one of the visitors to our site:

Trying to find info on Diners Club Card, but can't find anything on this site.
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314

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Guest: rapjunkie
Credit Expert (100+ Posts)
Post subject: Diner's Club Card Reveiw
Posted: Fri May 12, 2006 11:35 am

That's old school... does anyone still have one of those?

Guest: beyond platinum
Credit Expert (100+ Posts)
Post subject: Diner's Club Card Reveiw
Posted: Sat May 13, 2006 12:46 am

Diners Club is managed by Citibank and carries the MasterCard logo, they have both the credit and charge version:

http://www.dinersclubus.com/dce_content/personalcards/cardcomparisonmatrix
_________________
"Believe not everything, but only what is approved: the former is foolish, the latter the act of a sensible man." --Democritus

Guest: jlrdc909
Post subject: Diner's Club Card Reveiw
Posted: Mon May 15, 2006 3:25 pm

I respect the good ole DC as it was the first charge card out on the market, however with the $95.00 fee, I really dont think people are going in droves to sign up for DC anymore. The card had a lot more customers when the DC was the govt credit card, but then the feds switched to AMEX and now MC/Visa.
I have a friend who uses Diners faithfully and loves the card and customer service and doesnt mind paying the annual fee.
I think if you have had it once, you dont want to get rid of it, and if you never had you can live with or without it.

Credit Cards for Bankrupt Customers

Guest: ahnold300
Post subject: Credit Cards for Bankrupt Customers
Posted: Sat May 13, 2006 2:47 am

Hello All,
I filed Chapter 7 BK seven years ago. My FICO is now ~740, but I have been receiving pre-approved credit card offers from two same companies that discharged about $10k each.

Question is - I like their offer and APR, but is it safe to re-do business with them? assuming they cannot re-load the previous debt - correct?

If I apply and they do not approve my "pre-approved" application because of history, then I have a hit against my score.

Opinions? thanks in advance, Ah

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Guest: JaneiR36
Credit Expert (100+ Posts)
Post subject: Credit Cards for Bankrupt Customers
Posted: Sat May 13, 2006 10:29 am

I don't remember where I heard it, but apparently certain companies are more eager to do business with post-bk customers. They know you've been in trouble before and are likely to get into it again. Then they can milk you for late fees, high interest rates, etc. Having done a bk before it may not be so easy for you to do another one (I'm assuming) and so bk customers can actually be pretty good for some companies.

Other than the bk issue, there's a risk of being approved or denied regardless of who you're applying with. The hit to your credit score is from the hard inquiry, NOT from whether or not you're approved.

Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Credit Cards for Bankrupt Customers
Posted: Sat May 13, 2006 10:56 am

If your FICO is around 740 now and your bankruptcy was 7 years ago, I doubt that bankruptcy would have any significant effect on a decision today about your credit worthiness. Obviously it isn't affecting your FICO score much, if at all, today.

Everybody's score diminishes a bit after a hard inquiry. It's usually 3-7 points on the FICO scores per hard inquiry (for the first dozen or so inquiries in the last six months). It's really nothing to worry about.

Guest: jlrdc909
Post subject: Credit Cards for Bankrupt Customers
Posted: Mon May 15, 2006 3:29 pm

I agree with JaneiR36. Most companies realize that going thru BK once most people wont go thru it again (or want to). I would read the fine print to make sure that they wont tack on a previous bad debt. Keep in mind that some companies keep a "black list" on past customers who have skipped out on debt.

Beginning A Credit Card History

Guest: WellManicuredMan
Post subject: Beginning A Credit Card History
Posted: Sat Mar 18, 2006 1:15 am

Hello, I'm new to the board but have been reading it and learning a lot in a short period of time.

Unfortunately, I started building my credit history late (I used a debit card for many years thinking I didn't have any need for a credit card as I had enough money in my checking account all the time).

I'm currently 26 and got my first credit card a year ago. I was actually rather surprised with what I was able to get with practically no credit history what-so-ever. I've had a Wells Fargo checking account for some time and decided to try getting their Cash Back Visa Card, mainly to build credit but also because its nice to get some cash back. To my surprise they approved my application with a $3000 CL. 6 months later I applied for a Citi Dividend Platinum Select card (because the cash back on the Wells Card was very bad) and was approved with an $1100 CL (I had to mail in proof of a utility bill with my name and address on it).

Also, since I've had the Wells card for a year, they just instantly approved a CLI for me on the phone. I haven't had the Citi card for 6 months yet but will be doing the online CLI as soon as I hit 6 months as I need a LOT more credit on that sucker.

I've since gotten my free credit report from all 3 companies but I didn't want to pay to see my credit scores so I still don't know what they are (although I'm really dying to know).

My question is, how was I able to get the above cards so easily when I didn't have any prior credit history? On these boards I read about how people have to get gas cards, store cards, secured cards with annual fees, etc when they don't have any credit history.

Thanks for reading.

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Guest: beyond platinum
Credit Expert (100+ Posts)
Post subject: Beginning A Credit Card History
Posted: Sat Mar 18, 2006 6:22 am

By your own admission, you have already answered your question. One suggestion I always give is that if you have a limited history or you’re going after your first credit card; try applying for credit with your bank or credit union first.

You had an existing account with Wells Fargo in good standing which makes getting a card from them painless. You want their business and they want your business. After having the Wells Fargo credit card for 6 months, you established a good payment history on your credit record which made getting a Citibank card even more effortless despite the low credit limit.

There are a lot of rewards cards out there so don’t feel limited by your choices.
_________________
"The most incomprehensible thing about the world is that it is comprehensible." --Einstein

Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Beginning A Credit Card History
Posted: Sat Mar 18, 2006 11:43 am

Quote:
You had an existing account with Wells Fargo in good standing which makes getting a card from them painless.
Yeah--you'd think so, wouldn't you?

I was turned down for the Prime Rate Wells Fargo card in 11/03 and was NOT offered another card.

I've had three accounts with Wells Fargo for the past 13 years--two checking and one savings. All have always been in good standing. I'd never applied for credit with Wells before. My CREDIT PLUS score was 745 when I applied with no negatives on ANY of my credit reports except for one paid-off tax lien (which was put on, paid, and taken off within three months in 2002). I had about two dozen cards active at the time, all in good standing, utilization around 50%, but a fairly high total amount owed (about $150,000).

Two weeks after I was rejected for that card, Wells Fargo mailed me a check for about $2000.00. If I decided to cash it, I would have to pay 18.99% interest on the loan. I had never received any such check from Wells before, so I assume it was connected to my card application. I threw it away.

I have no idea why some computer at Wells thought I was desperate for $2,000 when I had over $10,000 in my three accounts with Wells at the time.

Banks bewilder me.

Requesting A Credit Card Limit Increase

Guest: wouql
Post subject: Requesting A Credit Card Limit Increase
Posted: Sun Feb 26, 2006 8:28 pm

OK, I finally hit nine months of owning my BofA Platinum card. So I'm trying to request a CLI - but how do I do it? Did anyone do it online?

I sign into Online Banking, and click on the card. I assume there would be an option somewhere to click on (like the ones I see for "Pay this card" or "Inquire about a payment".)

I feel stupid - this should be easy. I'm sure I could call them, but there has to be a way to do this online.

Thanks in advance.

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Guest: DavidPalmer
Post subject: Requesting A Credit Card Limit Increase
Posted: Mon Feb 27, 2006 12:21 am

I was told that you get an automatic CL increase after the 9 months of having the account open and that it will show on your statement and online. I still have 4 months to go on mine.

Guest: beyond platinum
Credit Expert (100+ Posts)
Post subject: Requesting A Credit Card Limit Increase
Posted: Mon Feb 27, 2006 1:05 am

It is under account activity in the bottom left hand corner under 'customer service'. If you are not automatically approved online, it will list a phone number for you to call so that you can ask a CSR and this may result in a hard inquiry