Combining Credit Card Limits

Post subject: Combining Credit Card Limits
Guest: Alexis Rios
Posted: Mon May 30, 2005 1:33 pm

I have 2 Bank One / Chase Platinum Visa cards and i which to combine the credit limits from both to have only one account open. Can affect (negative or positive)doing that? I have good/excellent credit status.

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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Combining Credit Card Limits
Posted: Mon May 30, 2005 5:48 pm

You will still have the same amount of total credit limit so it should make little or no difference...

Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Combining Credit Card Limits
Posted: Mon May 30, 2005 11:28 pm

If the cards are from the SAME ISSUER, no problem. Chae and Bank One have not completed the pooling of their records yet. Thus you may not be able to do this. However, all it will cost you to find out is a few minutes on the phone with customer service. Why waste your time asking that sort of question here? Just call and ask. THEY can give you an official yes or no; we can't.

Guest: Alexis Rios
Post subject: Combining Credit Card Limits
Posted: Tue May 31, 2005 2:39 pm

Both are BankOne (now Chase )Visa Platinum , an i just asking because i read an article saying that the creditors perceive high credit limit accounts as premium bankcards , and sometimes having a high credit limit account is better than two (or more)lesser credit limit accounts.

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Guest: Jordan
Post subject: Combining Credit Card Limits
Posted: Tue May 31, 2005 10:31 pm

I did this once with BOA with no problem. I think I had 6k limite on one card and 5k on the other. I consolidated and my credit report showed 1 account closed and 1 account with an 11k credit limit. I would think that even if you dont consolidate they can still move the credit from one card to the other if it is within the same bank and both cards are under the same primary cardholder.

Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Combining Credit Card Limits
Posted: Tue May 31, 2005 10:35 pm

AUGUST 2005 YOU CAN COMBINE BANK ONE & CHASE or TRADE PRODUCTS

(per what wife was told)

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Guest: guessindigo
Post subject: Combining Credit Card Limits
Posted: Wed Jun 01, 2005 12:42 am

I didn't know that. Thanks for the info.

Guest: Alexis Rios
Post subject: Combining Credit Card Limits
Posted: Wed Jun 01, 2005 2:41 pm

but my point is if i combine both cc accounts , my credit report and score will be affected? Or i'll increase the credit score?

Types of Credit Cards

Post subject: Types of Credit Cards
Guest: cognitiveliberty
Posted: Sat Apr 09, 2005 3:12 pm

I just wanted to make sure are there any other types of credit cards besides
these
Visa, and Mastercard
American Express, and Discover.
And why does it seem not as many people take american express and discover.
Also this doesn't include department store cards or anything

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Guest: cled
Post subject: Types of Credit Cards
Posted: Sat Apr 09, 2005 11:53 pm

may i add, JCB Card-

Guest: Darrell
Post subject: Types of Credit Cards
Posted: Sun Apr 10, 2005 1:17 am

Diner's Club.

Is Transmedia still around?

Guest: cognitiveliberty
Post subject: Types of Credit Cards
Posted: Sun Apr 10, 2005 2:55 pm

what is jcb card?

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Guest: cled
Post subject: Types of Credit Cards
Posted: Sun Apr 10, 2005 8:46 pm

cognitiveliberty,

JCB - Japan Credit Bureau (JCB) established in Japan.

visit www.jcbusa.com or www.jcbusa.com/abouthistory.htm

i hope this helps

Guest: Board Monitor
Post subject: Types of Credit Cards
Posted: Mon Apr 11, 2005 5:46 pm

Diner's is owned by Citi now, but they continue to operate as an independent card network as far as I know.
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314

Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Types of Credit Cards
Posted: Tue Apr 12, 2005 4:46 am

American Express charges a much higher merchant fee than the other cards. Hence many merchants avoid it. Discover card just never got "legs." It's far less popular than the big boys, Visa & MasterCard. They've always been the other guy on the block and never the leader. Just one man's opinion.

Guest: Board Monitor
Post subject: Types of Credit Cards
Posted: Tue Apr 12, 2005 8:41 am

The whole equation may be changing though since AmEx and Discover can be issued by any bank now - thanks to recent legislation. So, Visa and MC no longer have the stronghold on the market that they once had.

On a related note, Wal-Mart's new credit card is issued by Discover.
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314

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Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Types of Credit Cards
Posted: Tue Apr 12, 2005 2:19 pm

Interesting! That's Discover's first Affinity card, isn't it?

I don't know if the ability for other banks to issue Amex & Discover will jump start their programs that much. Amex is still known for high merchant fees, and unless they can convince more sellers to accept their card it won't matter how many additional cards are out there, their market share won't increase by much.

Guest: guessindigo
Post subject: Types of Credit Cards
Posted: Tue Apr 12, 2005 2:40 pm

Actually, that is not quite 100% accurate.

GEMB owns the basic Wal-Mart credit card program. GEMB then partnered with Discover to allow use on it's network.

However, GEMB owns the accounts (GEMB underwrites them NOT DISCOVER), the receivables, and the customer service of those accounts.

The only part Discover plays is that the Wal-Mart Discover card can be used on Discovers network for which Discover collects interchange revenue, but the profit from the receivables, fees, etc goes to GEMB who owns the credit relationship with Wal-Mart.

Guest: Alexis Rios
Post subject: Types of Credit Cards
Posted: Wed Jun 01, 2005 6:40 pm

Yes , its true and also SAM'S CLUB

High End Credit Cards

Post subject: High End Credit Cards
Guest: Board Monitor
Posted: Thu Apr 14, 2005 10:35 am

Following is an interesting article about "high end credit cards"...i.e. credit cards for the rich and famous! I am proud to say that CardRatings.com is referenced in the article. Enjoy...

Gwen Moran
WomensWallStreet.com Exclusive

When Christina Miranda needs last-minute reservations for hip New York City eateries like Nobu, or good seats to a hot Broadway show, she doesn't call the restaurant or box office. Instead, she calls her credit card company. Miranda, a partner at Redpoint Public Relations, a NYC public relations firm, says that her American Express Platinum Card's $395 annual fee is well worth it for the concierge service alone.

"I got the card five years ago because I was going somewhere internationally and it offered a free first-class ticket when you purchase a first-class ticket," explains Miranda. "Now, it's just a great time-saver."

Recognizing that affluent customers will often pay more for convenience and prestige, financial institutions are rushing to answer the call with a range of charge and credit card products that offer exclusive benefits and services. Enter the status symbol credit card ---sleek and instantly recognizable, you're someone who counts.

Curtis Arnold, founder of www.CardRatings.com, a site that tracks credit card trends and information, says that while this upscale card sector is still relatively small, it's growing. Here's the latest card

offerings in this if-you-have-to-ask-you-can't-afford-it financial arena:

American Express Platinum Card
Key Perks: In addition to a 24/7 travel agency at your disposal, the Platinum card offers a free companion ticket on any full-fare overseas first- or business-class booking, or private jet services on one of six leading private jet companies. The card also delivers special shopping events and privileges at places like Nieman Marcus and Saks Fifth Avenue. And, of course, access to the concierge service, which can get you VIP access to hard-to-get places at no extra cost.

Annual Fee: $395

How You Get It: Apply at americanexpress.com.

American Express Centurion Card [aka the "Black" card]
Key Perks: Usually offered to moguls, movie stars and others of the multi-million-dollar ilk, Centurion carries all of the perks of Amex Platinum, plus upgrades, free nights, and special amenities at exclusive properties like Mandarin Oriental Hotels and Ritz-Carlton Hotels and Resorts.

You can read the rest of the article here:

http://www.womenswallstreet.com/topics/Topic.aspx?aid=832

Thoughts?
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314

Guest: guessindigo
Post subject: HIgh End Credit Cards
Posted: Thu Apr 14, 2005 12:26 pm

Curtis, the fact remains that the high end cards

Signature, World, AMEX plat, centurion are a lucrative part of the market and it is growing. Just look at the the recent TV campaigns VISA is running for their signature products.

Further, banks partnering with AMEX (MBNA, Citi) are going to offer high end fee based rewards cards.

Parts of this country are very affluent and they downright demand special perks and rewards every time they use their cards.

I am in total agreement and the well to do will now have more choices than ever.

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Guest: Daniel
Post subject: HIgh End Credit Cards
Posted: Sat Apr 16, 2005 10:40 pm

Good article.

I have the Amex Platinum and must say that while the fee is steep - if you travel the ability to use the airport lounges most with free WIFI access is both productive and relaxing from the hub bub of the airport.

Many employers will also pick up the tab for one cards annual fee if used for their business traveling staff

If you don’t use the perks there are better cards out there without the stiff fee.

Guest: Potus
Post subject: HIgh End Credit Cards
Posted: Fri Apr 22, 2005 5:50 pm

There is quite a bit of information about the Amex centurion card. It does have the highest annual fee of all the cards ($2500) Some of the cards are made out of titanium instead of plastic. The pre-requisite for invitation is to have the platinum for 1 year and spend at least $250,000 per year on the card. Others are that you have to have perfect credit, more likely for an invite if you are very well known, etc... The only known forum of centurion cardholders is the black card club (www.blackcardclub.com). They seem to actually be a decent group of people who network with each other and are in the process of doing charity events. More research concerning the centurion card reveals all kinds of perks (upgrade to first class for cardholders on pratically all airlines and their friends, upgraded rooms for several hotels, v.i.p. service for concerts, events, restaurants, just all kinds of perks) If you can get it, they say it's worth it.

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Guest: CreditCardGuru
Post subject: HIgh End Credit Cards
Posted: Fri Apr 22, 2005 5:52 pm

I think those cards would be more for business execs and entrepenuers.
I'm the Credit Card Guru, YOU BET

Guest: Alexis Rios
Post subject: HIgh End Credit Cards
Posted: Mon May 30, 2005 1:42 pm

i receive an offer of Amex Platinum credit card for just $45 /year.

Guest: guessindigo
Post subject: HIgh End Credit Cards
Posted: Mon May 30, 2005 5:19 pm

Do not confuse with the AMEX platinum Charge Card.

What rewards are you getting for $45/year??

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Guest: Alexis Rios
Post subject: HIgh End Credit Cards
Posted: Wed Jun 01, 2005 6:48 pm

concierge , restaurants , etc...


if i use constantly.

Close Credit Card with Annual Fee

Post subject: Close Credit Card with Annual Fee
Guest: mastamel
Posted: Tue May 31, 2005 10:57 pm

My Capital One card that I've had since 1996 (and is my only credit card and has no balance) just added an monthly fee of $3.00 in January '05.

I'm furious because I've had the card for so long and I'm afraid if I close it out and open a new one my fico score will go down...it just recently went down because a collection that I do not owe recently got put on my report...and I'm trying to buy a house by the fall.

I don't feel I should pay anything when I have no balance.

Is it a good idea to open a new account so I can avoid the $3.00 fee? Or will it ruin my credit even more?

Thanks for any help.
Melony

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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: When Your Credit Card Adds An Anual Fee
Posted: Wed Jun 01, 2005 10:20 pm

Ask if you can TRADE for a no fee card

PAYING A FEE FOR A CARD WITH NO REWARDS IS JUST WRONG

Guest: guessindigo
Post subject: When Your Credit Card Adds An Anual Fee
Posted: Wed Jun 01, 2005 10:51 pm

It is a good idea to open a new account. Cap1 is sticking it to you to push up profits at your expense.

Don't allow this to happen. Get a new card. Let someone else subsidize capital1

Gold Credit Cards Compared to Platinum Credit Cards

Post subject: Gold Credit Cards Compared to Platinum Credit Cards
Guest: kanjoy
Posted: Wed Jun 01, 2005 3:33 pm

I have recived two offers at about same time from Household Bank offering 0 % APR for 12 months. However, one is Gold Mastercard and other is Platinum Mastercard. I dont know the difference between the two. All the other terms of these offers are exactly same. Whats the difference ? Which one is easier to get alongwiht the 0 % APR ?

Can someone help me to decide which one I should apply ?

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Guest: Alexis Rios
Post subject: Gold and Platinum Credit Cards
Posted: Wed Jun 01, 2005 4:08 pm

Gold & Platinum cards are just level of benefits. Platinum cards generally have better benefits than Gold and Regular cards. But it depends the creditor of each card.

check the card terms and rates , before signing the application. No matter if is Gold or Platinum , just check the terms and rates.

Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Gold and Platinum Credit Cards
Posted: Wed Jun 01, 2005 5:03 pm

You "CAN" get a $500 PLATINUM CARD

You "CAN" get a $4,000 GOLD CARD

SO IN ENGLISH IT DOESN'T MEAN MUCH...

LOOK AT THE BENEFITS YOU GET or DON'T GET

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Guest: guessindigo
Post subject: Gold and Platinum Credit Cards
Posted: Wed Jun 01, 2005 11:01 pm

Sadly, the rules have relaxed. I much preferred 10 years ago when gold was 5K min. and Plat was 10K min.

Guest: Board Monitor
Post subject: Gold and Platinum Credit Cards
Posted: Thu Jun 02, 2005 8:53 am

The are usually different benefit levels, but it's mostly a marketing thing. Platinum cards don't have the status symbol that they used to.
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314

Credit Card Limits Unreported

Post subject: Credit Card Limits Unreported
Guest: Tigerdad101
Posted: Thu Jun 02, 2005 9:59 am

Good article from page one of the Washington Post finance section published on December 25th, 2004. Some excerpts:

Quote:
It is a well-kept little secret of the credit card industry -- and it can be exceptionally costly to home buyers and mortgage applicants.

The secret is this: Your credit card company may be depressing your credit scores by not reporting your credit limit to the three national credit bureaus.
...
"There is no doubt that [nonreporting of limits] has a major negative impact on consumers with thin files," said Terry W. Clemans, executive director of the National Credit Reporting Association.
...
What happens if your credit card company withholds or fails to report your credit limit? The scoring system typically substitutes your highest reported balance on the card for your missing limit. That, in turn, will often depress your score by raising your utilization rate.

For example: Your card has a $5,000 limit but the highest balance you have ever racked up was $1,000. That should add points to your score, as befits a modest 20 percent utilization ratio. But if your card company hasn't reported your limit, the scoring system will treat your high balance of $1,000 as a proxy for your actual limit.

But what if you regularly carry an $800 or $900 balance on that card? Suddenly your utilization looks scarily high, and your score plunges -- especially if that card is one of the few big credit accounts in your national bureau files. Depending upon your overall credit profile, you could lose 20 to 50 points, or even more, because of that missing credit limit.

If you carry a Capital One credit card, you can be 100 percent certain that your credit limit is never reported because Capital One confirmed to me that its corporate policy is to withhold limits, whether it depresses some customers' scores or not.
...
Why would a card issuer do such a thing? McLean-based Capital One Financial Corp., one of the largest issuers in the country, heavily markets its cards to young consumers and individuals with imperfect or thin credit histories. It says it does not report any customers' limits because "we consider [limits] proprietary" information, and "because we do not think it would be appropriate to impact the individual's Fair Isaac score -- positively or negatively -- by reporting them."

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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Credit Card Limits Often Unreported
Posted: Thu Jun 02, 2005 9:51 pm

MAX IT OUT

Wait till the satement closes and PIF

Problem solved

HIGH BALANCE is the DEFAULT

Guest: legitimate user
Post subject: Credit Card Limits Often Unreported
Posted: Thu Jun 02, 2005 11:01 pm

Wow...everything I've heard about capital one is terrible.

Guest: Tigerdad101
Post subject: Credit Card Limits Often Unreported
Posted: Fri Jun 03, 2005 3:20 am

Pretty useless advice. Most people would have a hard time maxing out a 5k line of credit and then turning it around and paying it in full.

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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Credit Card Limits Often Unreported
Posted: Fri Jun 03, 2005 7:01 am

Then don't use my "USELESS ADVISE"

You can do it with a BALANCE TRANSFER TOO

BUT DON'T USE THAT "USELESS ADVISE" EITHER!!!!

I DIDN'T HAVE ANY PROBLEM WITH $22,000+

BUT THEN THAT WAS "USELESS ADVISE" TOO

Guest: credithelp
Post subject: Credit Card Limits Often Unreported
Posted: Fri Jun 03, 2005 9:08 am

The weird thing about cap1 is that on my equifax report, they do not include the account in the scoring due to the fact that the credit limit is not reported. They used to include it but the report i got a week ago stated that it was not included for that reason.

Guest: CreditCardGuru
Post subject: Credit Card Limits Often Unreported
Posted: Fri Jun 03, 2005 12:30 pm

I actually found out that since I screwed up and went over my limit the fact they didn't report my little credit line helped my score.
I'm the Credit Card Guru, YOU BET

Authorized Users and Credit Card Usage

Post subject: Authorized Users and Credit Card Usage
Guest: Lyndzer Torte
Posted: Thu Jun 02, 2005 9:05 pm

When we signed up for the Disney Visa from Chase, I simply entered my name as an AU- no birthdate and certainly no SS#. How on earth are they able to report this to my credit?! HE is the Primary card holder! Any input appreciated.

Guest: Shawnee
Post subject: Authorized Users and Credit Card Usage
Posted: Thu Jun 02, 2005 10:27 pm

Most companies will report the account on the AU's credit reports. It's actually a good thing, as long as the account isn't maxed out or goes into deliquency.

Lenders do not need a DOB or a SS# to report, the identifying information is your name and address.

Guest: legitimate user
Post subject: Authorized Users and Credit Card Usage
Posted: Thu Jun 02, 2005 11:00 pm

It's reporting to his credit too. If he's doing stuff right, this would help your credit score.

Guest: CreditCardGuru
Post subject: Authorized Users and Credit Card Usage
Posted: Fri Jun 03, 2005 12:31 pm

That should help your credit score. My friend had the same thing happen and his mom's Chase Platinum VISA helped him to get credit when he applied for his own.
I'm the Credit Card Guru, YOU BET

Authorized Users and Credit Card Usage

Post subject: Authorized Users and Credit Card Usage
Guest: Lyndzer Torte
Posted: Thu Jun 02, 2005 9:05 pm

When we signed up for the Disney Visa from Chase, I simply entered my name as an AU- no birthdate and certainly no SS#. How on earth are they able to report this to my credit?! HE is the Primary card holder! Any input appreciated.

Guest: Shawnee
Post subject: Authorized Users and Credit Card Usage
Posted: Thu Jun 02, 2005 10:27 pm

Most companies will report the account on the AU's credit reports. It's actually a good thing, as long as the account isn't maxed out or goes into deliquency.

Lenders do not need a DOB or a SS# to report, the identifying information is your name and address.

Guest: legitimate user
Post subject: Authorized Users and Credit Card Usage
Posted: Thu Jun 02, 2005 11:00 pm

It's reporting to his credit too. If he's doing stuff right, this would help your credit score.

Guest: CreditCardGuru
Post subject: Authorized Users and Credit Card Usage
Posted: Fri Jun 03, 2005 12:31 pm

That should help your credit score. My friend had the same thing happen and his mom's Chase Platinum VISA helped him to get credit when he applied for his own.
I'm the Credit Card Guru, YOU BET