Balance Transfer Terms For Various Credit Cards
Guest: luvozzie
Post subject: Balance Transfer Terms For Various Credit Cards
Posted: Tue Nov 23, 2004 12:51 pm
I got my Discover Card and now I wish I hadn't applied for it because I didn't get the Platinum card. They sent me the Classic card with a mere $4000.00 credit limit. The APR is 16.24%.
I wanted to move $6000.00 to this card so this is not going to work for me as planned. I'm going to have to rethink my strategy on this one. I guess I have 30 days to decline the card.
BTW, is took them only one week to send me the card. I applied over the telephone on 11/15 and got the card on 11/22. I had to call them to make sure that this card would get the 0% for life with 2 purchases per month because no where in the literature I received did it indicate that. They said it would but boy, they weren't too friendly.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Dave
Post subject: Balance Transfer Terms For Various Credit Cards
Posted: Tue Nov 23, 2004 1:17 pm
I don't know about you but I'd be awfully wary of what you were told over the phone if you don't have in writing. It's possible the person you spoke with was 100% correct...but if not, and you've gone ahead and kept the card and transferred a balance, what recourse would you have when you realize it down the road? If it's true that you have the feature with the card you received, they should not mind sending you something in writing confirming as much with all of the details and caveats of that offer.
Sorry to hear you didn't get what you wanted/needed...I hope it works out for you in the end!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
Credit Expert (100+ Posts)
Post subject: Balance Transfer Terms For Various Credit Cards
Posted: Tue Nov 23, 2004 7:28 pm
Bait and switch is fairly common--a bank decides you're not entitled to the card you applied for, and sends you something else with different terms. Be really careful here--before you do any balance transfer, call Discover, speak to someone, and make sure of the terms--and make sure to get the identification of the person you spoke with. (Typically the person you speak with identifies himself/herself some way with a badge number or somesuch--make a point of asking that person to repeat the identification: read it back and have him/her verify it. That serves two purposes--you get the accurate ID AND you make the person you're speaking wtih VERY careful about what he/she says. )
I applied for a CapitalOne Business card a while back--I was preapproved for $20,000 supposedly at the prime rate. I received a card at a 19.99% rate--and with a credit limit of $500! Bait and switch. I called and cancelled. Today, a few months later, I received in the mail a letter from CapitalOne expressing sorrow that I decided to close my Business card account--and offering me up to $50,000 in a Small Business Administration business loan. Go figure.
Guest: HJM
Post subject: Balance Transfer Terms For Various Credit Cards
Posted: Wed Nov 24, 2004 5:18 am
In my past experiences with Discover, if they gave me the promotional deal over the phone, that deal was also update under "Balance Transfer" of my online account. So, register your account, check your "Balance Transfer" webpage, and print a copy as proof. By the way, the damage was already done once you applied for your Discover. If possible, apply for another 0% APR card to take care rest of the balance.
Guest: Charlie
Post subject: Balance Transfer Terms For Various Credit Cards
Posted: Thu Nov 25, 2004 12:10 am
You can try taping your call with them. To be legal, it has to make a beeping sound so the other party can hear it and you have to tell the other party at the beginning of the conversation he is being taped. Ask him to confirm that he understands he is being taped. Then off you go. See if they wing the answer after that.
Guest: rasca13173
Post subject: Balance Transfer Terms For Various Credit Cards
Posted: Thu Nov 25, 2004 2:37 am
i have 0 % for life with this card with no problems......one purchase a month {minimal amount like a $1 or $2 ] they offered it to my wife also and got it about 6 months ago......they want 2 purchases a month which i do also.....................3 weks ago i got another offer with the same deal but 4 purchases a month.......turned that one down
Post subject: Balance Transfer Terms For Various Credit Cards
Posted: Tue Nov 23, 2004 12:51 pm
I got my Discover Card and now I wish I hadn't applied for it because I didn't get the Platinum card. They sent me the Classic card with a mere $4000.00 credit limit. The APR is 16.24%.
I wanted to move $6000.00 to this card so this is not going to work for me as planned. I'm going to have to rethink my strategy on this one. I guess I have 30 days to decline the card.
BTW, is took them only one week to send me the card. I applied over the telephone on 11/15 and got the card on 11/22. I had to call them to make sure that this card would get the 0% for life with 2 purchases per month because no where in the literature I received did it indicate that. They said it would but boy, they weren't too friendly.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Dave
Post subject: Balance Transfer Terms For Various Credit Cards
Posted: Tue Nov 23, 2004 1:17 pm
I don't know about you but I'd be awfully wary of what you were told over the phone if you don't have in writing. It's possible the person you spoke with was 100% correct...but if not, and you've gone ahead and kept the card and transferred a balance, what recourse would you have when you realize it down the road? If it's true that you have the feature with the card you received, they should not mind sending you something in writing confirming as much with all of the details and caveats of that offer.
Sorry to hear you didn't get what you wanted/needed...I hope it works out for you in the end!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
Credit Expert (100+ Posts)
Post subject: Balance Transfer Terms For Various Credit Cards
Posted: Tue Nov 23, 2004 7:28 pm
Bait and switch is fairly common--a bank decides you're not entitled to the card you applied for, and sends you something else with different terms. Be really careful here--before you do any balance transfer, call Discover, speak to someone, and make sure of the terms--and make sure to get the identification of the person you spoke with. (Typically the person you speak with identifies himself/herself some way with a badge number or somesuch--make a point of asking that person to repeat the identification: read it back and have him/her verify it. That serves two purposes--you get the accurate ID AND you make the person you're speaking wtih VERY careful about what he/she says. )
I applied for a CapitalOne Business card a while back--I was preapproved for $20,000 supposedly at the prime rate. I received a card at a 19.99% rate--and with a credit limit of $500! Bait and switch. I called and cancelled. Today, a few months later, I received in the mail a letter from CapitalOne expressing sorrow that I decided to close my Business card account--and offering me up to $50,000 in a Small Business Administration business loan. Go figure.
Guest: HJM
Post subject: Balance Transfer Terms For Various Credit Cards
Posted: Wed Nov 24, 2004 5:18 am
In my past experiences with Discover, if they gave me the promotional deal over the phone, that deal was also update under "Balance Transfer" of my online account. So, register your account, check your "Balance Transfer" webpage, and print a copy as proof. By the way, the damage was already done once you applied for your Discover. If possible, apply for another 0% APR card to take care rest of the balance.
Guest: Charlie
Post subject: Balance Transfer Terms For Various Credit Cards
Posted: Thu Nov 25, 2004 12:10 am
You can try taping your call with them. To be legal, it has to make a beeping sound so the other party can hear it and you have to tell the other party at the beginning of the conversation he is being taped. Ask him to confirm that he understands he is being taped. Then off you go. See if they wing the answer after that.
Guest: rasca13173
Post subject: Balance Transfer Terms For Various Credit Cards
Posted: Thu Nov 25, 2004 2:37 am
i have 0 % for life with this card with no problems......one purchase a month {minimal amount like a $1 or $2 ] they offered it to my wife also and got it about 6 months ago......they want 2 purchases a month which i do also.....................3 weks ago i got another offer with the same deal but 4 purchases a month.......turned that one down
posted by CardRatings.com at 4:25 PM
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