Title: Credit Card Processing Fees Date: Sat Aug 07, 2004 3:18 pm
Hello:
Somehow I was offered in June two credit cards I sent them a check that I thought was dishonored somehow my banks been doing that with a couple of other checks that they so happen to redeposit and they clear. Anyway I sent the New Mellinium Bank one check for $49.00 and then a couple weeks later another check for $59.00 rush service. I have yet to hear anything from them about my two new credit cards one Visa and the other Mastercard. Aside from the bank making about 60 extra dollars from two checks they claim didn't clear before or after a deposit was made to covered all checks written.
Author: Ira Title: Credit Card Processing Fees Date: Sat Aug 07, 2004 5:14 pm
There's an awful lot of somehow's in your post. New Millennium issues cards for those with limited or poor credit. Quote: There is an annual fee of $59, which is slightly above average for a secured card and there is also a one time processing fee of $69.95 ($99.95 if the applicant would like to be issued a Visa® and a MasterCard®). This is quoted from the Online Credit Card Directory, http://www.cardoffers.net/reviews/cards/details/card.asp?id=952&refid=se22982.
I don't know what you applied for, but the amounts you mentioned don't match up. In case you want to contact them, here's their info:
New Millennium Bank P O Box 2693 New Brunswick, NJ 08903 732-729-4395
Hope this helps. _________________ Do not let what you cannot do interfere with what you can do.
Dear Sir(s), I visited your website today and thought I would drop a line to you and see what you think.I received a phone msg last week from a company call uscredit com.I called them today and this is what they had to say.They first asked for my phone number...and then they verified who I was.They said that they "saw" that I was going to be issued a credit card by a major bank.They then asked for income,address and wether I had a current drivers liscense and checking account.They then said that for a $79.95 processing fee I would receive a cc from a "major" bank.They would not tell me the name of the bank,credit limit or the terms for the credit card.They said they were only the processing company and could not answer those questions until I gave them my checking account number.Have you heard anything about this company?Please let me know your thoughts or any info you have about these people.There tel # is 1-888-770-9522.I have no idea where they are located,and I could find nothing on them on the internet. Needless to say I did not give them my checking account number.Thanks for your help
Author: Ira Stoller Title: USCredit Credit Card Application Date: 10/30/2000 11:25 am CDT
Well I wouldn't say that they're an outright scam, but I would say that you certainly don't need anybody to process a credit application. You can do that yourself. A "major" bank? What's that mean? What bank doesn't think of itself as a "major" bank? Stay away from this one.
If you're trying to restablish credit, consider the Capital One or Aria card. Neither require a security deposit, but the fees are high - almost anyone can be approved. I strongly recommend that you do not sign up with any of these so called "services" which help you obtain a credit card from a bank they cannot name. **NEVER** accept a card before you know the terms. When I worked in the industry, theses "services" were nothing more than a daily *headache*. Consider Linda's advice - you can get your own credit card - you definatly don't need an $80 processing service. All three sites that share this board have extensive listings of credit cards geared towards people who may be wanting to rebuild their credit.
I know I used to see credit card offers all over the place for an unsecured card with no credit check if you had a checking account. I've got the checking account now and can't find this card. Can anyone help me out? Thank you.
It sounds like you are referring to the Net 1st card. You can find information about them on this site at the "card reviews" section. However, there is an upfront charge to your checking account, and it is not a true credit card. There are probably other cards you can get. I would certainly try the others first. If you take this one, be sure you read the terms and conditions. It is not as simple as it sounds. Capital One and Providian will give just about anyone a real credit card, report it to all 3 CRA's, and upgrade you if you are responsible. They will also charge you very big fees and penalties if you aren't. As far as not having a secured card reported on your credit, if your credit is bad, it already shows on your credit report. There just isn't any way to hide it. But you can improve it.
Author: Board Monitor - CA Title: Unsecured Credit Card Offer Date: 11/6/2000 10:06 am CDT
Sue,
Thanks for your post! I agree with Linda. I would only suggest applying for the Net 1st card as a last resort, because of the fees associated with this card. I would suggest a secured card. The fees and interest rates are typically quite reasonable and many secured cards report to the credit bureaus as if they were unsecured cards (no one will be able to tell you are using a secured card). What's more, if you use your secured card responsibly, you are usually considered for an unsecured card after a year or so (sometimes less).
We provide ratings of various secured cards. You can access our ratings by clicking on "Card Reports" for our home page and then clicking on "Poor Credit".
Author: Carolyn Title: Apply For Credit Card With No Annual Fee Date: 11/14/2000 9:50 am CDT
I begin to consider to apply a credit card. I have no credit experince before. How can i establish my credit? Are there any credit card issurers which would provide a credit card with no or low annul fee to a new comer? I appreciate if you can give any information.
Author: Eugene Title: Apply For Credit Card With No Annual Fee Date: 11/14/2000 11:30 pm CDT
I don't think you will be able to find a card with no annual fee. You need to look for a secured card, but they all have annual fees.
Author: Becky Title: Apply For Credit Card With No Annual Fee Date: 11/16/2000 3:00 am CDT
Hi Eugene,
I have read your previous messages. It appears that you know a lot about credit industry. I have to disagree with one of your messages regarding to credit cards that have annual fees or do not have annual fee. I own few credit cards. Some credit cards do offer no annual fee. Only one or two of my credit cards do have annual fee. Other credit cards have no annual fees. I am looking at Bank of America for balance transfer with low interest rate because it has no date expiration for the low interest rate balance transfer. Also, it offers no annual fee. It is highly recommended by this cardratings.org How can you explain that?? The reason I am looking for a bank that offers low interest rate for balance transfer from the merchant's credit card is because the merchant has very high rate after six months of interest free. We could not pay off within 6 months. We purchased computer system package using that credit card which offered six months of interest free which will be up in January, so...meanwhile I am still searching... How about Citibank that offers 3.9 rate for only 9 months? I know both of them have good offers but I am most likely to depend on the duration rather than worry too much to count the time! Otherwise it would build good credit history, isn't it?? I welcome your opinions. no hard feelings. SMILE! Happy Thanksgiving to you and everyone!!
Author: Eugene Title: Apply For Credit Card With No Annual Fee Date: 11/16/2000 5:04 am CDT
Becky, you are right, the great majority of cards do come with no annual fees. But I was answering Carolyn's question, and because she has no credit history, she will most likely not qualify for any of those offers. Sorry, I omitted this important point in my reply to her.
Good news for her and others like her is that one annual fee is usually enough to qualify for a no annual fee card, IF she chooses the first card wisely and uses it responsibly. (Even six months is often enough).
Author: Peter Title: When to Apply for a Reward Credit Card Date: 10/24/2000 1:48 pm CDT
Coming from Europe I've started to build credit history in March. Now my credit history is about 10 month old Could anybody estimate after how much time of building good credit history is it reasonable to apply for a "better reward card"? I already have a secured credit card (since 04/2000) a dep't card and an Installment account (opened only to build credit history). All these are in good shape being "never late".
Thanks Peter
Author: Eugene Skorodinsky Title: When to Apply for a Reward Credit Card Date: 10/25/2000 2:22 am CDT
I would suggest getting an unsecured "plain vanilla" card first, and after using it for at least 6 months - trying to get a rewards card.
You can try now, though, - the harm of an extra inquiry is not that bad, especially if you won't need extra credit in the nearest months.
Author: Jimmy Title: Visa Credit Card Application Date: Mon May 12, 2003 1:28 pm
I have recently received an application for the Visa Infinite Credit Card and have been searching for more information about it. As it turns out, your CardRatings.com article is the only source of information that I have found that even mentions the card and I was wondering if you might be able to elaborate on it a little more. I have already contacted Chase, the card issuer, and they do not have any details at all (in fact, they claim to not even carry the card). So, as you can see any further information would be very helpful.
Author: Sisflomi Title: Visa Credit Card Application Date: Mon Nov 10, 2003 10:47 pm
The Possibilities Are Infinite
Visa Infinite is the ultimate credit card—the ultimate in service, spending power and prestige. Reserved for those whose lifestyle demands only the best, the Visa Infinite card gives you the power of life’s infinite possibilities.
Author: Verne Title: Instant Approval Credit Card Application Date: Fri Dec 12, 2003 12:15 am
After trying to resurrect my old Fleet and National City credit card accounts and told I would have to reapply, and after I reapplied with National City and was turned down, I went hunting for a new card I thought might be easier to catch.
With 99% credit utilization and a recent inquiry, I was hesitant to apply for anything. But my scores are EXP 726, EQU 696, TU 736 and I have a long credit history free of derogs, so I thought I would give Citibank a shot.
Their Illumina card looked to be the one with the lowest requirements: $12,000 annual income and a possible $500 starting credit limit. Even their online application was only a page and a half whereas others I've seen go on for five pages.
Anyway it said "instant response" (in 60 seconds), so I submitted my application and waited. At first the seconds turned to minutes and the minutes turned to hours and eventually time stood still. After an eternity, fermented sugar plums dancing in my head, broke the spell. I then became a little giddy, drunk with delusions of huge credit limits and wild spending for what seemed like several seconds. When the mania subsided I entertained myself reciting the words to "Up on the Housetop" and checking to see whether the refrigerator light still worked. After about 30 seconds, I lapsed into paralyzing anxiety with acute borrower's remorse. Wishing I could take back, undo the application, but it was too late. Finally after another 10 seconds I was notified that my answer would be sent to my street address.
Author: Nightstar Title: Instant Approval Credit Card Application Date: Fri Dec 12, 2003 8:23 am
Sorry to hear that Verne, all hope is not lost, but you might be right.
I have seen people get that response and still get the card, but usually something was in the way, like some people trying to apply for credit when they have fraud alert or something else unknown of that nature.
Also wonder if you can just call in to customer service and manually ask for their reply to the application, or to ask which card of theirs would you quality for. Know that is not unheard of people doing.
Author: Guest Title: Instant Approval Credit Card Application Date: Sat Dec 13, 2003 3:20 am
Verne, they might set up a standard FICO score for instant approval. If you are not approved instantly, they might probably deny you with the reasons stated as negative factors in your credit report. I applied CITI cards but I was denied and got a letter stating that their credit approval was based on FICO scoring system. Check your FICO score first and then apply the card. So you might not be ended up with too many inquiries in your credit report.
Author: Guest Title: Instant Approval Credit Card Application Date: Sat Dec 13, 2003 12:50 pm
Citi does not make decisions based on FICO, there is an internal scoring system used for that purpose. All the 7 day message means is that a few things need to be verified and once that is complete, your approved.
I applied for a certain MileagePlus card in mid-August 2000 and as of 10/31/00 have received no response regarding the status of my application depite my calls to the customer service department. Each time I call, the "system is down" or my application approval is "pending". The information that I submitted by phone is in the system. I am very concerned that I have submitted personal financial information and can get no firm reply regarding the status of my account. The time frame for the approval - or decline - process is aprox. 4 weeks. It is well past that time period. What can I do? Is there a agency at which a complaint can be filed? Are there rights or regulations for the consumer applicant? Please reply.
Wow!! that is a long time. Have you documented your telephone requests for information? If not, send the issuer a letter and request a reply within a reasonable time frame. If they don't respond, I would send a copy of my letter, and a written request for an investigation, to your state's banking regulatory authority. Every state has one, and they will look out for your interests. In Virginia we have a "banking commission", and every company who does business here has to answer to them. I'm sure there are guidelines the bank has to follow, but I don't know exactly what they are. Document your phone calls etc whenever you are doing business like this (I just write them down in my appointment book) - because then you have proof that you are not the one who let it go on so long.
Author: dave Title: Pending Credit Card Application Date: 11/2/2000 12:28 am CDT
Are you sure you want this company to give you a card since it appears to have such poor customer service? It may be fortunate that they have not acted on your application. There are other mileage reward programs out there that you might look into. American Express and Citibank are two names that come readily to mind and customer service at both is top notch.
Author: Guest Title: Citi Credit Card Application Date: Wed Apr 14, 2004 2:07 am
Verne, N.S, or Ira, I applied Citi Plat card and I wasn't approved instantly. They will respond my application in two weeks. How can I check the status of my application? Verne, could you tell me about your experience to Citi card application? I really want Citi card because they always denied my applications several times. You know, the harder to get approved, the more I want that card. What should I do? Thanks guys.
Author: Guest Title: Citi Credit Card Application Date: Wed Apr 14, 2004 4:40 am
Well, you could always wait two weeks like they asked you to.
There are ways to check (call and ask, for instance), but all you'll find out is that your application is being processed and you'll hear within two weeks, which you already know, so why bother? As with so many things in life, you can't circumvent the process.
Author: Verne Title: Citi Credit Card Application Date: Wed Apr 14, 2004 8:13 am
I applied online for Citibank Illumina and was not approved instantly. Three weeks later I received a rejection letter citing: "obligations are too high in relation to stated income". I knew I should have included my "can" money.
At the time my scores were 710-735 range, 18 year credit history, and, of course, no derogs. For comparison, Bank of America approved me for their card and GM was giving me credit limit increases a couple years earlier when I was in worse shape.
N.S I did exactly what you did. We will wait the response letters. I have WaMu Plat card with 7.99% APR but I want the card with Citi logo. Did you get the instant decision? I did not get the instant decision and I think I might not be approved. We'll see.
Whenever I get an itch to know if I am approved before the card comes in the mail (which is always when I apply for new credit), I call the issuer and ask over the phone. They might ask you how long ago you applied, don't go into details and just brush it off with "Oh, I don't remember exactly." If they made the decision, they will tell you.
Author: credithelp Title: The Best Credit Card Date: Wed Dec 01, 2004 4:24 pm
Which card issuers have the best reputations right now and which have the worst ones? I guess this is an opinionated question but was curious.
Author: Nightstar Title: The Best Credit Card Date: Wed Dec 01, 2004 4:34 pm
Providian is one of the creditors at the bottom of the list, but they have been trying to change that - like giving credit scores to customers (I believe they are allowing consumers to view the credit card model scores) not just the generic ones the bureaus would sell to the customer.
American Express, I was just horrified with the slam site I read, their employees are rude beyond beleive, almost like a god complex.. I think they are over rated, like Discover myself.
Citi Bank I think of in the middle like Capital One, easy to obtain on a regular basis, but they can be preditory, on catching people with high interest rates...
Household is another lower lender, being that they deal more in the sub market, like Best Buy, and other stores that would only offer 18% interest rates.. same true with Lowes, JC Penney, K-Mart, Yonkers, Sears... all of them department stores are not worth the 10% discounts they offer to get customers just for the high rates, if you are in the habit to holding balances.
I hear Native say a lot of good stuff about Bank of America though, and they just took over another sub lender Fleet... will be interesting to see how that goes.
I really don't know too much about other creditors out there, very limited experience myself... like Chase, Bank One, First USA, Pulaski, think of them mid to upper range creditors.
Author: consumercity Title: The Best Credit Card Date: Wed Dec 01, 2004 6:03 pm
From my own personal experience, I consider Citi Bank to be the best. I have a card from them with an interest rate that is about 45% of what I had with Capital One.
I don't recommend Capital One because their interest rates are too high and they won't offer better terms to customers that have been with them for 5 years and never paid late. Also, every time I called Cap One's customer service department they aggressively tried to sell credit insurance and credit monitoring services.
Before selecting a company, you should type their names into some search engines and see what kind of complaint sites turn up. Also, there is a lot of valuable credit card info on this site.
Basically, this question has no answer. Most of those who are posting have good experiences with some banks and bad experiences with others. We all have different credit profiles and have different issues.
For example,
Quote: I don't recommend Capital One because their interest rates are too high.
I have one CapitalOne account with a 7.9%. I'm currently on a 2.9% balance transfer on it, good for the life of the loan. I have a second one with an 8.9% rate. Both cards allow no-fee balance transfers treated as purchases with a 25 day grace period.
At one point, CapitalOne called me concerned about my account and said it was going to reduce my $20,000 credit limit to $16,000. It said it would restore the credit limit to $20,000 if I made a $2,000 payment. So I did--and it pushed the limit back to $20,000. No problems since.
On the other hand, I am livid with rage at the way I was treated by BankOne and MBNA. I've had no problems with Citibank, Chase, AmericanExpress or Discover. Generally I've found Customer Service from all the banks to be polite and fairly responsive, even when I don't agree with the outcome. I'm always considerate and cordial when I call, regardless of how I feel inside.
Different strokes for different folks, as they say!
If I have a fico of 760 from experian and annual income my self of 10,000 (college student) and just got approved for a blue from amex what are my chances of getting this or another card with a very low apr like this?
also, how bad would it be to cancel my card that I have had since high school? this is my oldest card. how much would it hurt my credit? becasue I called cap one and asked them to upgrade my account and they said they could raise my credit limit but could not lower my apr and said I would just have to apply for another card, I haven't used this card in about 8 months and would like to have a card that I would use as a backup to my blue from amex but with a lot lower apr than 19.80 percent. what other cards could you recommend that have an apr around 8-10%?
I have a loan for my truck through chase and they send me pre-approved platinum offers like almost every week, but does that mean I necessarily even have a chance with them? Should I still leave my cap one open because it is my oldest card even though I am not going to probably ever use it again? I know I ask a lot of questions but having good credit for when I am older is really important to me and I appreciate all the responses.
Keep the CapOne account open so you have more available credit and one more card to work with. Having less than 3 cards hurts the score (with all the CRA's), 4-6 is optimum, and more than 6 will hurt the equifax score.
Be careful with that Chase Platinum offer when you already have the truck loan with them. I know that Chase co-mingles or shares information from one part of its bad self to the other, and they will compare (or a computer will compare) your truck loan application with the platinum card application. If they find any discrepancy they may find reason to deny the current application and even change terms on the existing loan. Yeah, Chase is that sneaky.
But in spite of all that, if your scores are good, debt ratio low, and income good, you will want to go with pre-approved offers first - like Chase. The offer may say platinum but they can "downgrade" that if your income doesn't meet their requirements. Income is a huge factor in pre-approved applications.
Have you checked your scores lately? creditexpert.com (experian.com) and equifax.com are offering 30 day free trials. This would take some of the guesswork out of it.
Author: Parmstrong Title: Bad Credit Credit Card Offers Date: Thu Oct 30, 2003 10:34 pm
Dont know how to best ask this but here it goes. I currently have a credit score of 671. Last week i applied for the AMEX Blue online and was denied. i need to get a CC but i dont want to keep applying for cards and get declined. i know that too many inquires can affect your credit score greatly. I know I can go with a secured CC but id rather get a regular CC with a good limit. is there any way to judge which companies will give me a regular credit card with my current credit score?
Oh, just to note. I dont have any current credit cards. I messed up with 2 in the past and closed them. I currently use my Citibank ATM card as my mastercard. i constantly buy things with this card and I know its not helping my credit. i am not currently in debt. i paid my car loan and student loan off earlier this year. The only thing I pay off are monthly bills such as cable, internet, cellphone & house phone, etc.
Author: Eugene Title: Bad Credit Credit Card Offers Date: Thu Oct 30, 2003 11:47 pm
My advise to you would be to learn as much from the AmEx rejection as possible. Look at the reasons why they rejected you in the letter that they will send you. Order the credit reports and make sure they are correct. Call the AmEx credit department and ask them some questions. You don't just need the score above a certain level to get a card, you also normally need to meet a list of requirements (income above $X, no delinquencies in the latest Y years, Z open credit card accounts in good standing etc.) Talk to them about those requirements, get them to tell you what exactly in your report ticked them off.
Judging by what you told us, it would be difficult for you to get a good credit card. So, you might have to get a "bad" one. I recommend secured that reports regularly to all three credit bureaus, as opposed to an unsecured with outrageous fees.
Author: Parmstrong Title: Bad Credit Credit Card Offers Date: Thu Oct 30, 2003 11:55 pm
Thx for the Info. What do you suggest for an unsecred CC. On this site, they recommend the Orchand Bank one and also a AMEX Green (I thinkit was green or yellow) card. The Orchard one looks good, $35 annual fee, no monthly fee, etc. Is there anything else i should look at. The purchases I make are usually above $500, should I put $500 or more, like $1000. I guess I could start with $500 and work my way up. How long does this take to help my credit out? Lastly, I read that I should pay the balance off in full, that I should keep a small balance (below 30% of credit limit) and just pay on time. Does this sound right to you. Thx again!
Author: Guest Title: Bad Credit Credit Card Offers Date: Fri Oct 31, 2003 4:02 am
I started with Washington Mutual unsecured card with $500 credit limit and 21% APR but no annual fee. If you have banking relationship with Washington Mutual, ask them for credit card application. When I got my WaMu card, I had no credit history, no credit cards, nothing. Anyway, Washington Mutual helps beginners. For AMEX card, it is hard to get one with your credit score under 700( Equifax Score). Being an executive member at Costco, I was offered AMEX Costco Cash Rebate card with no annual fee. AMEX is second to none in customer service and online account management. I love AMEX. But AMEX is not welcome everywhere like Visa and Master. When my FICO score was 711, I applied AMEX gold charge card and they approved me instantly. Try to apply AMEX again when your FICO score reach 700 or above.
Author:Carlos Rivera Title: Credit Card Offer From First National Credit Date: 11/14/2000 2:42 pm CDT
I just received an offer for a credit card from First National Credit @ 27101 Aliso Creek Road , Aliso Viejo, CA 92656...I have never heard of them before..is this company legit, or is this a scam...there is no phone number & they do not require personal information like SS# or work status..strange! all they want is your signature.
Author: GEORGE Title: Credit Card Offer From First National Credit Date: 11/14/2000 4:16 pm CDT
IS IT A VISA/MASTERCARD OR A CATALOGUE COMPANY...IF IT IS A CATALOGUE COMPANY, TRASH IT!!!
Author: Linda Title: Credit Card Offer From First National Credit Date: 11/14/2000 4:22 pm CDT
There is a First National Credit Card, but the address is listed in Sioux Falls, SD. What does the fine print say? Does it say Master Card or Visa? If not, it probably isn't really a major credit card.
Author: Rossael Title: Credit Card Offer From First National Credit Date: 11/15/2000 11:47 am CDT
I also received one these letter and it states that I was approved for a credit line of $15,000. It also says "This is not a "Maybe" we have already reserved a card in your name". So is it real or a scam??
Author: Linda Title: Credit Card Offer From First National Credit Date: 11/15/2000 2:45 pm CDT
It is credit to purchase items from *their* catalog. It is not a major credit card. They are taking advantage of people who are desperate for any kind of credit. I throw them away.
There are posts on this board about other deals like this one - search back through, and you will see them.
Author: h2o Title: First Liberty Financial Credit Card Offer Date: 11/13/2000 7:17 pm CDT
I just received a credit card offer from first liberty financial. The offer is for a approved gold card with a credit line of $15,000. The card is 0% interest for 1 year and then changes to 11.9 there after. Does anyone have any insight with Fist Liberty Financial? I called their number and just got a recording. I want to make sure I can transfer balances from my other accounts to this card. By the way, the letter(it is not an apllication..pre-approved) does not state whether the card will be a visa or mastercard. Also, there is a $49.00 yearly fee binded with this offer. I wish there letter provided more insight. Is First Liberty Financial a reputable company?
Author: GEORGE Title: First Liberty Financial Credit Card Offer Date: 11/13/2000 8:01 pm CDT
COULD BE ONE OF THOSE CATALOGUE CARDS NOT A VISA/MASTERCARD!!! YOU ONLY CAN USE IT TO BUY OVER PRICED JUNK FROM THEIR CATALOGUE.
IF IT DOES NOT SAY VISA OR MASTERCARD ANY WHERE ON THE PAPERWORK OR ON THE ENVELOPE IT PROBABLY IS NOT A VISA/MASTERCARD...THROW IT IN THE TRASH!!!
Author: Linda Title: First Liberty Financial Credit Card Offer Date: 11/14/2000 9:06 am CDT
You are soooooooooo right! I get those all the time. Send it to your postmaster - tell him you think it's mail fraud. That's what I'm doing. They will make them change their advertising methods. IMHO, they are deliberately letting people think it's a major credit card.
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