archive

Posted: Thu Sep 23, 2004 7:10 pm

Post subject: Which Credit Card to Start Building Credit?

Curtis

Date: 3/7/2001 7:23 pm CDT

I am a recent college graduate w/ no previous credit history. I never have owned a credit card in my life. For college I worked my butt off and paid for it all in cash by myself. I currently am working full time making $40,000/year and just leased a 2001 Chevy Blazer at the end of January in which the payments are to GMAC Financing. I need to start building credit and would prefer to get a major credit card, not any retail store credit cards. I don’t even care if the limit is only $300 - $500. I have applied online and via the mail and keep getting denied. My father is a gm card holder and has exelllent credit history and has been w/ them for years….they have told us various things…one day they said they could approve me for a card, the next day they said they couldn’t, the following day they said they could put me on as a user onto my fathers account (that won’t do me any good), and so on and so forth….this has been a royal pain in the *****. At anyrate, it is pretty sad that they’ll extend credit to any sorry college student, any new individual to the U.S., any person that already has racked up thousands of dollars in debt, and to anyone who has gone bankrupt before, what the heck, can’t the good guy or the one who isn’t in debt over his head ever get a break?? This really sucks to say the least. I think it is pretty pathetic!! At least I can say I am debt free, bust my butt to afford to live, and so on, the heck w/ the others I say!! Any advice??

Posted: Thu Sep 23, 2004 7:11 pm

Post subject: Which Credit Card to Start Building Credit?

Anon

Date: 3/7/2001 7:53 pm CDT

You may have to go the secured route. But you are incorrect about being an AU on your fathers account. This WILL HELP your credit rating, especially if he has an excellent history with them.

Posted: Thu Sep 23, 2004 7:11 pm

Post subject: Which Credit Card to Start Building Credit?

Eugene

Date: 3/7/2001 10:45 pm CDT

You may have to go the secured route.

Yes, that’s a good way. Or order credit report and see if the auto lease is reported. If so, in about six months you could get an unsecured card without getting a secured one now.

But you are incorrect about being an AU on your fathers account. This WILL HELP your credit rating, especially if he has an excellent history with them.

I disagree. Some issuers do not report authorised users to CRAs at all, some do not even require their SSNs to give them the card. Even if you are reported as an authorised user, and that is your only credit history, it takes forever until you qualify for anything unsecured.

Posted: Thu Sep 23, 2004 7:12 pm

Post subject: Which Credit Card to Start Building Credit?

Anon

Date: 3/8/2001 8:35 am CDT

But you are incorrect about being an AU on your fathers account. This WILL HELP your credit rating, especially if he has an excellent history with them.

I disagree. Some issuers do not report authorised users to CRAs at all, some do not even require their SSNs to give them the card. Even if you are reported as an authorised user, and that is your only credit history, it takes forever until you qualify for anything unsecured.

Yes some don’t report AU, but they don’t have to have your social security number to add to your report. I have done with twice with my husband, never asked for ss# and both accounts are on his report. These accounts had very low ratios and his scores improved dramitcally after these were added. I was in the mortgage process so I saw our scores over a 3 month period, HUGE difference.

Posted: Thu Sep 23, 2004 7:13 pm

Post subject: Which Credit Card to Start Building Credit?

BILL

Date: 3/9/2001 1:01 pm CDT

#1 NEVER FALL FOR THE STUPID IDEA OF PAYING SLOW 2 BUILD CREDIT. WANT A CREDIT CARD? MY 1ST CARD WAS A SECURED CARD. THE ONE U SEND THEM $500 OR WHATEVER TO HOLD FOR YOU. THATS YOUR CREDIT LIMIT. AFTER ONE YEAR THEY’LL RETURN YOUR DEPOSIT WITH INTEREST AND U KEEP USING THE CARD AS OTHERS DO. THEY’LL INCREASE YOUR CREDIT LIMITS AS TIME GOES ON AND OR AS YOU ASK FOR IT.

#2 ALWAYS PAY IN FULL, IF U CAN. HOW? CREDIT CARDS ARE A CONVENIENCE 2 AVOID CARRYING $100′S OR 1000′S IN YOUR POCKET. I BUY WITH THE CARD WHEN I HAVE MONEY TO BACK IT UP IN THE BANK. IF NOT, I WAIT. THATS WHY I NEVER SEE A PENNY IN FINANCE CHARGES. ALWAYS PAY IN FULL AND OVER PAY SO Y HAVE TO SEND LESS ON NEXT PURCHASES. IF IS IMPOSSIBLE FOR U, THEN PAY SLOW, BUT AS MUCH AS U CAN. DONT FALL FOR SENDING ONLY THE MINIMUM. SENDING THE MINIMUM ON SOMETHING THAT COST $500 WILL END UP COSTING $800. I PAY IN FULL OR MORE AND EARN CASH BACK ON ALL PURCHASES. I GET $20 FOR EVERY $2000 I SPEND. CAREFUL WITH DISCOVER OR AND AMERICAN EXPRESS. THEY GIVE YOU 2%-5%, BUT ONLY WHEN U PAY SLOW. THATS GARBAGE BECAUSE U END UP GETTING ZERO BACK BECAUSE PAYING SLOW U GET CHARGED MONTLY AND THE CASH BACK DESAPEARS. GET IT? I’VE BEEN USING BELL ATLANTIC VISA. THEY’LL STOP THE 1% CASH BACK ON MAY 15TH 2001. CHECK THIS OUT. BEFORE THAT DATE I’LL GET THE EYE/LASER SURGERY DONE($5000)SO I GET $50 CASHBACK. I ALREADY HAVE $6000 READY, BUT USING THE CARD EARNS ME 50. GET IT. I’LL PAY IN FULL AS SOON AS I GET THE BILL. I KNOW! SOME PEOPLE SAY, “WHY USE THE CARD IF U’LL PAY IN FULL?” I SAY, “CONVENIENCE ONLY.” MY FRIEND SPENT $5000 BUYING HOUSE STUFF. SHE’LL PAY IN FINANCE CHARGES OVER $150 A MONTH ON TOP OF WHATEVER SHE PAYS FOR EVERY MONTH THE BILL ISNT FINISHED IN WHOLE. U DONT NEED A CARD IF U PAID EVERYTHING CASH UNTIL NOW. WHY THE HEADACHE. I USE IT FOR THE CONVENIENCE OF NOT CARRYING CASH AND TO EARN MONEY FROM THEM OR STUFF. AND NEVER JOIN CARDS WHO WANT AN ANNUAL FEE. SOMETIMES I THINK, “I CANT BE THE ONLY GUY WHO TRIES 2 TAKE ADVANTAGE OF EVERY MONEY OPPORTUNITY.” EXAMPLES:

1-ONCE I GOT MY SECURE CARD OF $500 SENDING THEM MY DEPOSIT OF $500 TO HAVE A $500 CREDIT AND GRADUATED AFTER A YEAR WITH MY $500 DEPOSIT BACK AND $30 INTEREST AND THEY INCRESED MY CREDIT WITHOUT ME HAVING TO MANTAIN A DEPOSIT. THEY TRUST YOU AFTER A WHILE AND RETURN YOUR ORIGINAL DEPOSIT. I THEN STARTED APPLYING EVERY CARD I SAW. ALTOGETHER 7-8 CARD, BUT SMART ME ONLY USED THE ONE WHO GAVE ME CASH BACK. GET IT? THE OTHER CARDS WERE JUST IN MY DRAWER. THEY’LL NOTICE U DONT USE IT AND WILL SEND U OFFERS, LIKE… DISCOUNTS OR GIVE U $10-20 AS A CREDIT TO SPEND ON YOUR 1ST PURCHASE.

#2 OTHER NEW CARDS WILL SEND U OFFERS SAYING..U’LL GET A LEATHER PORTFOLIO AFTER YOUR 1ST PURCHASE. I BOUGHT A $6 WARM UP PANT I NEEDED AND 6 WEEKS LATER GOT MY PORTFOLIO. U GET THE POINT. I DONT SPEND JUST TO GET SOMETHING FREE. I SPEND ON SOMETHING I NEED ANYWAY TO GET THE FREEBIES.

#3- JUST FOLLOW YR INSTINCT, PAY IN FULL OR WAIT UNTIL U HAVE THE CASH TO THEN BUY WITH CARD THAT GIVES U SOMETHING U NEED/WANT: CASH, GAS, IF U DRIVE OR WHATEVER. WHY THE HEADACHE OF WISHING A CARD SO BAD? IS THE POINT TO BUY STUFF WITHOUT HAVING THE MONEY FOR IT YET AND PAY SLOW, WHICH MEANS OVER PAYING BECAUSE OF THE FINANCE CHARGES? I GUESS IT IT FOR MOST PEOLE. WHICH IS WRONG. CREDIT CARD COMPANIES CAME OUT WITH THEIR OWN WAY TO BUILD CREDIT, WHICH IN IMAGINARY TRICK EVERYBODY FOLLOWS LIKE PUPPETS, “I DONT HAVE THE MONEY TO BUY SOMETHING THAT IS $4000, BUT I HAVE A CREDIT CARD. I’LL PAY SLOW AND I’LL B HAPPY.” $4000 TURNS INTO $5900 OR MORE AFTER ALL IS PAID BECAUSE THEY PAID $79 A MONTH FOR 8 YEARS. SAVE MONEY. GET CD’S, LET THEM MATURE AND RE-BUY AGAIN, SAVE, SAVE, BUDGET YRSELF. CANT U WAIT AND BUY LATER UNTIL U HAVE MONEY? IF IS EMERGENCY, OK!!! ANOTHER TIP, IF U HAVE A CARD ALREADY….TRY TO BUY ONE DAY OR LATER, AFTER YOUR BILLING CYCLE CLOSES. THIS GIVES YOU AT LEAST 45 DAYS OR LONGER INSTEAD OF 30 DAYS BECAUSE THE BILL COMES ON THE BILL AFTER NEXT.

JUST USE YOUR HEAD AND RELAX.

archive

Posted: Thu Sep 23, 2004 7:08 pm

Post subject: Can a Credit Card Be Used for Identification?

Lun

Date: 3/7/2001 11:20 pm CDT

Hello all,

I just found out this amazing forum and would like some help here. Sorry about this might sound a bit off the topic of the forum. I would like to ask the experts here: is credit card also an identity of the person who hold it?

I go to the bank today and wanted to open a new account and the lady told me she needed 2 identities. I only have my driver’s license with me. She asked for social security (the real little paper), and I don’t have it at that time (I was adviced not to bring that with me in the wallet, am I right?) Then she asked if I have credit cards, like Visa or Mastercard… Asked me two times, so it seems like not a coincidence at all.

Is credit card really can be treated as an identity? Maybe I am over-reacting… I didn’t give her any of my cards as I was wondering why the heck she needed it. Even she is a professional I suppose, I still worry about exposing my credit card info….

Posted: Thu Sep 23, 2004 7:09 pm

Post subject: Can a Credit Card Be Used for Identification?

Eugene

Date: 3/7/2001 11:55 pm CDT

is credit card also an identity of the person who hold it?

Yes. (If by “identity” you mean “a form of ID”).

I go to the bank today and wanted to open a new account and the lady told me she needed 2 identities. I only have my driver’s license with me. She asked for social security (the real little paper), and I don’t have it at that time (I was adviced not to bring that with me in the wallet, am I right?)

You should not carry it with you at all (not only in the wallet) on a regular basis. But if you need it on a particular day, of course you could (and should) take it with you. It’s a normal practice for banks to ask for several forms of ID at the time of opening an account.

Maybe I am over-reacting… I didn’t give her any of my cards as I was wondering why the heck she needed it.

You did over-react. She did not lie to you, she really needed ID, for example a credit card, to verify your identity before opening the account. She suggested credit cards just because most of people carry them regularly. Some cards can even allow you to put your photo and signature on the front, so it is even more secure (and serves better as ID, too).

Even she is a professional I suppose, I still worry about exposing my credit card info….

Banks are the last place to worry about that. They already have much of a lot more sensitive information about you.

archive

Posted: Thu Sep 23, 2004 7:01 pm

Post subject: Terms of Fleet Credit Card Application Review

Charles

Date: 3/8/2001 10:08 am CDT

The application for a Fleet Titanium Cash Rebate VISA card asks for the amount of the applicant’s “Yearly Household Income.” It asks that the Gross Amount be stated in whole dollars. The application rejects my five digit amount as non-responsive. For example: I type into the box the whole number “30,000″. The application will not be processed because, it says, I have not inserted a whole number into the box. Question: what am I doing wrong? How do I properly type a “whole number” into the box?

Posted: Thu Sep 23, 2004 7:02 pm

Post subject: Terms of Fleet Credit Card Application Review

Anon

Date: 3/8/2001 11:49 am CDT

Type in 30000 no comma

archive

Posted: Thu Sep 23, 2004 6:28 pm

Post subject: Secured Credit Card With Perks

Jim

Date: 3/9/2001 8:50 am CDT

Have poor/no credit history, and want to apply for a secured card. Very important to have a card that also has free auto rental insurance, and possibly any other rewards typically associated with platinum cards. Is there such a thing?

Posted: Thu Sep 23, 2004 6:29 pm .

Post subject: Secured Credit Card With Perks

Board Monitor - AD

Date: 3/10/2001 7:40 pm CDT

Jim,

Wells Fargo has a secured card with a rewards program, if you would like to see our review on the card, visit:

http://www.creditcardfreedom.com/reviews/cards/details/secured.asp?CreditCard=Wells+Fargo+Secured+MasterCard

Sincerely,

Alex Daskaloff

http://www.creditcardfreedom.com

archive

Posted: Thu Sep 23, 2004 6:25 pm

Post subject: Best Way to Consolidate Credit Card Debt

Jensen

Date: 3/9/2001 2:30 pm CDT

I have pretty good credit but am looking for a way to cut my massive credit card payments down every month and start actually paying on the principle instead of just the interest. I am looking at consolidating about $26,000.00 and was wondering if going through Consumer Credit Counseling was a bad idea or would affect my credit rating in an adverse way?

Posted: Thu Sep 23, 2004 6:26 pm

Post subject: Best Way to Consolidate Credit Card Debt

Ira Stoller

Date: 3/11/2001 0:02 am CDT

What you might try is apply for one or more cards which offer temporary promotional balance transfer rates. For instance, I just received an offer for a GE Select Platinum MasterCard which offers a 1.9% rate on purchases and balance transfers until 10-31-01. To obtain this rate you must request at least one balance transfer with the application. The fine print also says that there is s 3% transaction fee of not less than $5.00 nor more than $35.00. They say they will offer credit lines of up to $100,000.00. This isn’t the only one out there. Have a look around in the card reports section of this board and see if there’s anything else you like.

With regard to credit counseling, I don’t know much about it, but if it’s free, or of even the first visit is free, try it; if you’renot careful you might learn something.

Posted: Thu Sep 23, 2004 6:27 pm

Post subject: Best Way to Consolidate Credit Card Debt

Eugene

Date: 3/12/2001 0:12 am CDT

I have pretty good credit but am looking for a way to cut my massive credit card payments down every month and start actually paying on the principle instead of just the interest.

Credit card account are not like mortgages. As interest is posted every month, it becomes part of the balance. Any payment goes toward the balance with lower APR first.

I am looking at consolidating about $26,000.00 and was wondering if going through Consumer Credit Counseling was a bad idea or would affect my credit rating in an adverse way?

Yes, it would. They don’t do anything you cannot do yourself.

Call each issuer and ask them to give you the best rate they could. Then call each of them again and say that the other card gave you a better rate and ask them if they could match it (slim chance here, but anyways…) Then call again and ask if they can give you a special rate if you transfer more balance to their card. Transfer the highest APR balance(s)to the lowest APR card(s). Then pay the minimums to all cards, except for the card with the highest APR, where you should dump all the money you can.

Repeat that whenever an APR is changed, or a card is paid off (don’t forget to offer that card issuer to transfer balance if they give you a good APR), but probably not more often than every three months or so.

It’s important to stop charging, always pay on time, and dump as much as you can on the highest APR balance.

archive

Posted: Thu Sep 23, 2004 6:15 pm

Post subject: Can a Credit Card Company Reposes Your House?

An

Date: 3/10/2001 3:01 pm CDT

Can they actualy take your home or vehicle? How long can they bug you for $19000. in credit card debt?

Posted: Thu Sep 23, 2004 6:15 pm

Post subject: Can a Credit Card Company Reposes Your House? Board Monitor - AD

Date: 3/10/2001 7:37 pm CDT

Dear An,

Credit card debt is considered as “Unsecured Debt” so it is not like a mortgage or auto loan, which are secured by your assets. Though depending on the State in which you reside, they could take legal action or they may simply write it off.

I would take a look at the following site of the Federal Trade Commission for more info:

http://www.ftc.gov

Sincerely,

Alex Daskaloff

http://www.creditcardfreedom.com

Posted: Thu Sep 23, 2004 6:16 pm

Post subject: Can a Credit Card Company Reposes Your House?

Ariel

Date: 3/10/2001 10:07 pm CDT

Excuse me 4 a personal question, but where you’ve got your family name “Daskaloff”. Maybe we can speak same language.

And second one - I saw a review on Students Blue on the web site (brand new). It’s strange 2 me how you can review something that exist just for 24 hours;))

Anyway, I have AMEX Students Optima - do I have to submit a new application to upgrade it, or what’s going to happen? AMEX didn’t even send me an e-mail with any explanatations about.

Ty, Ariel

Posted: Thu Sep 23, 2004 6:16 pm

Post subject: Can a Credit Card Company Reposes Your House? Board Monitor - AD

Date: 3/11/2001 12:27 am CDT

Dear Ariel,

My last name is from my father who is from Bulgaria. Unfortunately, I do not speak Bulgarian, only a few bad words that I had picked up when I was a child from my father (who is a painter), who would scream out a Bulgarian curse every time he made a mistake on one of his paintings.

Reviews on credit cards are based on the information posted online by card issuers. The reason that Blue for Students receives a high rating is due to the fact that it offers students a gorge of benefits at a reasonable interest rate (for a student card) with no annual fee.

I am especially attracted to the number of travel certificates offered at discounted rates, as I know from my college years, they can be very valuable, and especially due to the fact that a companion can also take advantage of the travel certificates.

I am not sure about upgrading to Blue, you should contact American Express on that issue. But I would do a comparison between the two, and from there decide whether it’s worth the change.

archive

Posted: Thu Sep 23, 2004 6:14 pm

Post subject: How to Figure Out Debt to Credit Ratio

Mary

Date: 3/11/2001 2:48 am CDT

Can anyone explain how they figure your debt to credit

ratio?

Thank You

Posted: Thu Sep 23, 2004 6:14 pm

Post subject: How to Figure Out Debt to Credit Ratio

Mom

Date: 3/11/2001 7:56 am CDT

Add your total balances on all your credit cards accounts, then add your limits up. Now take the total of your balances owed and divide than by your totoal limits to get your debt ratios.

Example: Card A 500.00 balance 1000 limit

Card b 800.00 Balance 2000 Limit

Card c 600.00 Balance 3000 limit

Total balance is 1900, total limits are 6000 your debt ratio would be 1900 divided by 6000 which would be 32%. Hope this helps:)

archive

Posted: Thu Sep 23, 2004 12:24 am

Post subject: Can I Get a Credit Card With Poor Credit History

jt

Date: 3/11/2001 1:09 pm CDT

Are some of the poor credit/bad credit history type of cards actually ploys to get garnishment information for banks that have lost track of defaulted “customers”?

archive

Posted: Thu Sep 23, 2004 12:22 am

Post subject: What is The Minimum Credit Card Income Requirement?

Paul M.

Date: 3/12/2001 4:37 am CDT

I’m 32years old on SSI…

I’m permanently disabled…

I pay my bills on time…

I’ve lived in my own appartment for over five years and never have been late on the rent once…

Being disabled I have no job , but from SSI I make $712.00

a month plus I make additional from rent tax refunds..

I never even conciderd a credit card till I noticed my computer was not worklng properly..

Anyone that can lead me to a direction for posible solutions to my trouble please do…

Thank you for your time..

Posted: Thu Sep 23, 2004 12:23 am

Post subject: What is The Minimum Credit Card Income Requirement?

: Eugene

Date: 3/12/2001 7:13 am CDT

Being disabled I have no job , but from SSI I make $712.00 a month plus I make additional from rent tax refunds.

Ask some credit card issuers a simple question: what is the minimum income to qualify for their card? Then act accordingly.

Posted: Thu Sep 23, 2004 12:24 am

Post subject: What is The Minimum Credit Card Income Requirement?

credit smart

Date: 3/13/2001 5:03 pm CDT

Try citibank.They only require a minimum of $8,000.00 annually to qualify for their card.Do you have anykind of credit history at all?If not it will be difficult for you on getting your credit file started without any history.If this is the case then your only option for you to get started would be a secured one which requires a savings account as collateral for repayment of account.If you can’t use this option then rent to own would be your best bet.I couldn’t think of anything else that would help.

archive

Posted: Thu Sep 23, 2004 12:20 am

Post subject: What is a Credit Card Finance Charge?

Donna Fork

Date: 3/12/2001 10:10 am CDT

I recently cancelled my Capital One card because the “finance charge” meant I was charged a fee every month based on the amount I charged on the card, REGARDLESS of whether I paid on time (I always pay the entire balance each month). So the more I charged on the card, the higher the finance charge was — even though I paid the card off on time each month. I was assured by DeltaSyMiles AmEx they don’t do this, and as far as I can see, they don’t. My problem is: I need a second credit card for places that don’t take AmEx and I would like my second card to also provide frequent flyers miles. Since I pay the balance off completely every month, the APR doesn’t matter much to me. The annual fee and this “finance charge” are of concern. Can you recommend frequent flyer credit cards that WON’T whack me with a “finance charge” every time I use the card? I’m told ALL Visa cards are the same with respect to this. Is that true? Please add some information about this onto your web site. Thanks for any assistance.

Posted: Thu Sep 23, 2004 12:20 am

Post subject: What is a Credit Card Finance Charge?

Donna Fork

Date: 3/12/2001 1:11 pm CDT

Well, Capital One has waived the finance charges,

and says it’s sorry about any misunderstanding. Now the person I talk to says they only charge finance charges if a person pays late so I am re-opening the account. We shall see what happens…

Posted: Thu Sep 23, 2004 12:20 am

Post subject: What is a Credit Card Finance Charge?

Board Monitor- NK

Date: 3/12/2001 4:53 pm CDT

Capital One has a miles card called MilesOne. The annual fee is $19 (significantly less than other miles cards) and the APR is 9.9%, with a grace period.

“Finance charge” can refer to charges that are not generated by the APR, purchases, cash advances, etc. In addition to actual charges associated with interest, they can be late fees, overlimit fees, annual fees, monthly fees, you name it.

Kat

http://creditexpert.tripod.com/home.htm

Posted: Thu Sep 23, 2004 12:21 am

Post subject: What is a Credit Card Finance Charge?

Eugene

Date: 3/12/2001 10:40 pm CDT

Can you recommend frequent flyer credit cards that WON’T whack me with a “finance charge” every time I use the card?

You should be looking for a card that has a grace period - a time after the statement date during which finance charge is not imposed, if the full payment is received by the due date. It is usually between 20 and 25 days. Most cards have it, some don’t.

I’m told ALL Visa cards are the same with respect to this. Is that true?

archive

Posted: Thu Sep 23, 2004 12:18 am

Post subject: Teamster’s Union Credit Card Review

Sandy

Date: 3/12/2001 3:17 pm CDT

Does anyone know the address/phone number of a company that offers a credit card to Teamster Union members? I received an offer from one some time ago and can’t seem to locate the info.

Posted: Thu Sep 23, 2004 12:19 am

Post subject: Teamster’s Union Credit Card

Eugene

Date: 3/12/2001 10:18 pm CDT

http://www.netfcu.org/indexset.html

Posted: Thu Sep 23, 2004 12:19 am

Post subject: Teamster’s Union Credit Card Review

Jeff

Date: 3/15/2001 11:45 am CDT

The Teamsters are part of the Union Priviledges Card endorssed by the AFL-CIO. You can find it by going to www.cardclues.com and completing their search for cards realted to your career, work, and/or professional association. They let you compare cards, see how likely you are to be approved and apply right online.

archive

Posted: Thu Sep 23, 2004 12:12 am

Post subject: How Long Does Credit Card Debt Stay on Credit Report

Allan

Date: 3/13/2001 7:56 am CDT

Recently I got a notice that I owed money for a card debt that is over 10 years old. It was in my name but my ex was going to pay it.I guess she didn’t, and her paying it now is not a option. I wasn’t aware of it and my credit got screwed up for many reasons for several years. After doing the rehab deal I started to turn my life around and now things are good and have excellent credit. Never any problem over that old debt. They said they bought this acct from the bank and will neg. for a payoff. I have little money, but want to do whats right. Is this a scam? Can they damage my rebuilt credit ? What can I do?

Posted: Thu Sep 23, 2004 12:13 am

Post subject: How Long Does Credit Card Debt Stay on Credit Report

Dani

Date: 3/13/2001 3:18 pm CDT

Allan,

The statue of limitations is up. Also, since the debt is over 7 years old it is probably off your credit report. Is this right? There is not a whole lot they can do except call and harrass you. I would either ask them to stop calling or send them a cease and desist letter. Hope this helps.

Posted: Thu Sep 23, 2004 12:14 am

Post subject: How Long Does Credit Card Debt Stay on Credit Report

Adrianna

Date: 3/14/2001 0:00 am CDT

Even though the negative information should be removed after 7 years and 180 days–and if it has not, contact the credit reporting agencies and request that the derogatory item be removed–the debt may still be collected and the third-party collection agency may still insist on trying to collect.

The first step is to obtain a copy of your credit reports, if you have not already done so, and to check whether this debt is listed, although more than likely it isn’t.

Remember that collection agencies operate on the basis of profit and will attempt to collect a debt as much as they can. Don’t let their empty threats or intimidation get to you–you do not owe *them* any money, they are simply trying to *collect* it on behalf of the original creditor, although after so long, the debt will be purchased and further attempts to collect will be made. In short, let sleeping dogs lie; if they keep it up, send them a cease and desist letter–they are obligated by law to stop contacting you when you send such a letter.

archive

Posted: Tue Sep 21, 2004 5:18 pm

Post subject: Secured Business Credit Card Review

Thang

Date: 3/15/2001 4:26 pm CDT

Does anyone know any financial services company that issues a secured business credit card besides Bank of America?

Posted: Tue Sep 21, 2004 5:19 pm

Post subject: Secured Business Credit Card Review

once38

Date: 3/16/2001 0:17 am CDT

Capital One has an unsecured business card that is pretty easy to get.They may start you with just 300 or so.Call 18008670904

archive

Posted: Tue Sep 21, 2004 5:14 pm

Post subject: Providian Visa Credit Card Review

M. L. Taylor

Date: 3/15/2001 5:07 pm CDT

I have a Visa card from both Aria (Providian) and First National Bank of Marin. Would you please give me both the good and bad of these companies and their cards and services. Any advise based on your info?

Posted: Tue Sep 21, 2004 5:16 pm

Post subject: Providian Visa Credit Card Review

Board Monitor - AD

Date: 3/16/2001 11:46 pm CDT

Dear M.L. Taylor,

I am not familiar with the First National Bank of Marin, but with Providian, I do believe that their top rated Aria credit card (platinum version) has a great low rate (I believe it to be less than 9%) with no annual fee. However, the lower status Aria cards tend to have a high interest rate, and if I recall correctly, one even has no grace period, a very costly factor!

Sincerely,

Alex Daskaloff

http://www.creditcardfreedom.com

Posted: Tue Sep 21, 2004 5:17 pm

Post subject: Providian Visa Credit Card Review

tanya

Date: 6/9/2001 8:16 pm CDT

im thinking of getting a card with first bank of marin. would you reccomend it or not and why?

M. L. Taylor wrote:

——————————-

I have a Visa card from both Aria (Providian) and First National Bank of Marin. Would you please give me both the good and bad of these companies and their cards and services. Any advise based on your info?

Thanks

archive

Posted: Tue Sep 21, 2004 4:51 pm

Post subject: Frequent Flier Credit Card Review

bob silber

Date: 3/16/2001 12:09 am CDT

Looking for high flexible program. Bank Based Credit card which is indifferent to airline. Any suggestions or websites?

Posted: Tue Sep 21, 2004 4:54 pm

Post subject: Frequent Flier Credit Card Review

Board Monitor - AD

Date: 3/16/2001 11:43 pm CDT

Bob,

You might want to try the Miles One Platinum Card, it has a low 9.9% rate and a $19 annual fee (if I remember correctly), the only major negative factor is that earned miles cannot be combined with frequent flyer accounts. The web site address: http://www.capitalone.com

Sincerely,

Alex Daskaloff

http://www.creditcardfreedom.com

archive

Posted: Tue Sep 21, 2004 2:54 pm

Post subject: Can Late Payments Result in Raised APR?

Amy

Date: 3/18/2001 12:33 am CDT

Does anyone have or had a credit card that after two late payments the apr changed from 4.9%to 23.9%. This happened to me, however I had the credit card for over 9 years and I know I was not late. They will not decrease the apr. even after writing to the ceo. I am going to write to the Better Bus. B. and the Attorney General. Any other suggestions?

Posted: Tue Sep 21, 2004 3:08 pm

Post subject: Can Late Payments Result in Raised APR?

Anon

Date: 3/18/2001 2:37 pm CDT

You stated if anyone had increase in APR after late 2 late payments and the you said you were never late. So were you actually late or not I am confused? If you were never late then I would fight them about this however if you were late they have the right to jack up your rates, it is in your terms that you received when you originally received the card. Also some banks will jack your rates up if you are late with OTHERS creditors not even them, fair no but that’s they way the do things.

Posted: Tue Sep 21, 2004 3:14 pm

Post subject: Can Late Payments Result in Raised APR?

Eugene

Date: 3/18/2001 11:16 pm CDT

Does anyone have or had a credit card that after two late payments the apr changed from 4.9%to 23.9%.

Very often APR can change after even one late payment (promotional period), or even for no particular reason (the rest of the time).

4.9% sounds like you have a promo APR going. My Citibank agreement said that the promo APR can go up if at least one payment is received late, either by Citibank, or by any other creditor, or if you otherwise violate the card agreement.

Here’s what you should do (skip the steps you have already done).

Check out your card agreement, look for reasons why APR can go higher.

Call Citibank and find out what the reason is, when and to who was the late payment they are referring to, and if it’s not to themselves, which credit bureau provided them with the report. Ask to send you the letter explaining the reasons why your APR was raised. If they ask, tell them you need the letter to get your report for free.

If they give you a reason that is not among the possible reasons for raising your APR, tell them that.

If it’s another creditor they refer to, order your credit report from that CRA.

If they claim you paid late to Citibank, look at your statements and see if the payment posted on or before the due date mentioned on the previous statement.

If it turns out they did not violate the agreement, suck it up, learn your lesson and move on (to another bank, if you like). If they did, it’s time to do some creative writing (to their correspondence department, not to the CEO).

Make the copies of all documents that proove their violation (card agreement, statements [both past and present showing the higher APR], credit report, their own letter). Highlight the relevant information (promo APR clause, due date and payment date, “no late payments” in the report etc.) Explain the problem in the letter. Say that they are violating the card agreement, and you want the APR lowered back to 4.9% and all the extra interest charges credited back to your account.

Avoid any emotions, concentrate only on facts pertaining to the problem (do not make it longer than one or two pages). Word it clearly and politely, thank them for their help at the end, but do not forget to mention that even though you are willing to avoid bringing this fact to the attention of the Office of the Comptroller of the Currency, you would if you find Citibank not helpful in correcting the mistake.

Send the letter certified mail, return receipt requested, and sit tight for 45 days. Then re-write the same letter if needed, mentioning that you have not received a reply after the first one, and that you are sending a copy of this one to the Office of the Comptroller of the Currency. (Attach a copy of the return receipt to both Citibank and the OCC).

That’s what I call kicking butt!

archive

Posted: Mon Sep 20, 2004 12:49 am

Post subject: Citibank Platinum Select Credit Card Review

Kathyrn

Date: 3/18/2001 2:43 pm CDT

Citibank customer’s be warn seems to me there is what they call diffrent rules for even great customer’s.

They raised our rate after being with them for almost 3 years with no late payments and no non payments.

They have used all kinds of excuses like credit report saying we were in default to another creditor .This was not true .We ran are own credit report which is in good condition .

I have decided to close this account out and carry on with the current rate we were being charged.Companies like this dont need to be in business if they cant treat good customers with respect.Dont always assume that people are not paying just cause their rate got raised!!It happens to good customers too.

Posted: Mon Sep 20, 2004 12:50 am

Post subject: Citibank Platinum Select Credit Card Review

credit smart

Date: 3/19/2001 6:28 pm CDT

You’re debt to income ratio may be your problem.What you put down on the application as income received is used every time citibank reviews your account,and if they see that you are overextended then they will respond by upping your interest rates.You don’t need to be late for them to increase your interest rates.Also paying just the minimum due is telling them that you are more risky like you are not working hard enough to get out of debt within reason to them.I have a citibank card,and at&t universal both owned by citibank,and i only had these for a few months,and i am not having any kind of trouble with them.Citibank is a good credit card company,and being responsible with credit usage is the important key for maintaining a good relationship with them.

Posted: Mon Sep 20, 2004 12:52 am

Post subject: Citibank Platinum Select Credit Card Review

Eugene

Date: 3/19/2001 11:18 pm CDT

Good points, credit smart! I would add possibilities of high proportion of debt to total credit lines (not only to income), too many open accounts, too many new accounts, too many new inquiries or a bunch of others. Check out this link for more info: http://www.fairisaac.com/servlet/SiteDriver/Content/912

Posted: Mon Sep 20, 2004 12:55 am

Post subject: Citibank Platinum Select Credit Card Review

Kathyrn

Date: 3/20/2001 1:23 am CDT

Thanks Eugene,

maybe that is it we had recently paid off our pickup when we bought new car but it hasnt been taken off credit report as paid yet.

I would expected though Citibank to say that is what it is not give us run around.

All in all though I think its just a monoply to make more money.Cause as long as a person has never defaulted they should not worry.

Im am learning though this is not a fair world .

Thanks again

archive

Posted: Mon Sep 20, 2004 12:37 am

Post subject: Can Co-Signing on Credit Card Ruin Your Credit?

Kathy

Date: 3/19/2001 6:14 pm CDT

Hi, my is Kathy and I co signed with my brother for a credit card and later he went bankrupt w/o telling me. Now my credit has being ruined for several yrs. not sure how many, too long. Can I fix this problem? Also, I’ve been turned down for more credit cards and just found out, that puts a bad mark on my credit history. I am looking for a credit card with low interest so I can transfer my high interest cards to a lower one so I can pay it off sooner. Why do I get credit card pre-approved by mail then get turned down, I sent most of them in or called them in and they tell me they’ll let me know in a few days, yet they turn me down, I thought I was preapproved! How come I’m pre-approved for a card if they have to check my credit history after I call them. In the past 2 yrs. 2 credit cards were paid of, amount in each around 2,200.00. Doesn’t that help? Currently, I have about 3 credit cards I owe on, one is active. I really want to put all on one card or loan and make one payment a month. Also, I was approved for a car loan at a dealership and I turned them down ’cause I knew I couldn’t make the payments. I know I will have to buy a car in a few months since mine is not in great shape. What should I do? I’m so tired of owing every body. I even owe my mom alot of money. Kathy

Posted: Mon Sep 20, 2004 12:38 am

Post subject: Can Co-Signing on Credit Card Ruin Your Credit?

Hal

Date: 3/19/2001 8:01 pm CDT

Big problem, when you agree to co-sign. The creditor has the right to report the account was included in Bankruptcy, and most credit card issuers scan your credit report for certain key items (i.e. judgement, bankruptcy, charge off) and the decision is made without a person ever seeing the credit report.

A bankruptcy generally affects your credit file for 7 to 10 years. You probably will not be able to get a prime rate card with this entry on your credit report. You can dispute the entry and hope it comes back unverified, but its about a 50/50 chance

Posted: Mon Sep 20, 2004 12:38 am

Post subject: Can Co-Signing on Credit Card Ruin Your Credit?

Linda

Date: 3/19/2001 11:18 pm CDT

Dear Kathy,

My first advise is to take care of the bankruptcy on your credit bureaus (Trans Union, Experian, Equifax… all three). I believe that by law the creditor that you signed w/ your brother should have tried to contact you as co-signer to see if you would hold up your end of the deal. If they did and you opt’d not to pay the debt, then it’s your own fault…sorry. Bankruptcies stay on your credit for 10 yrs. You will have slim to none chance of finding a better interest rate to consolidate w/ this mark on you.

Second, stop applying for credit everywhere, it labels you as a “credit seeker” (possible pyramiding debt-meaning living beyond your means) Everytime you apply this creates an inquiry on your report, they stay on for 2 yrs… not a bad thing unless you have several and have not received the account that you applied for… In addition, everytime you are denied you are entitled to a free copy of your credit bureau. You have the advantage of seeing “exactly” what is on your bureau, not just what you think is there. If you do not agree w/ something on there, then disputed the item w/ that credit bureau. The credit bureau has to investigate your dispute and the creditor “must” reply w/in 30 days! Sound like a long time? Not as opposed to trying to deal w/ that creditor who frankly, doesn’t care. As far as the multiple offers to apply for credit…. read the fine print, they are almost “always” subject to credit approval. You can have your name removed for marketing purposes through each of the credit bureaus I named above, just call 1-800-555-1212 (1-800 information directory)and ask for each listing but, I think you can only receive 2 numbers at a time…. I hope that I answered all of your questions, e-mail me if have any more, I’ll try to answer them or give you some good advice, Good Luck! Linda P.S- 12+ yrs in the finance business

archive

Posted: Mon Sep 20, 2004 12:23 am

Post subject: Dividend Credit Card Review

Xavn

Date: 3/20/2001 1:45 pm CDT

Curious if anyone knows of a Credit card that has something better than 1% money back? Right now I”m with Citibank but I don’t think 1% is working for me Please email me if you have info. Thanxs.

Posted: Mon Sep 20, 2004 12:29 am

Post subject: Dividend Credit Card Review

Linda

Date: 3/20/2001 8:31 pm CDT

I believe that Discover Card has 2% cash back in the form a check at the end of the year as opposed to the end of each billing cycle….. give them a call @ 1-800-347-2683 (1-800-discover). Let me know if you find anything higher than that. Good Luck! Regards, Linda P.S.- The definite key to success on cash back cards is to make sure they are paid off every month because you will only get 1% back on what you charge, not exactly the same after they hit you with the interest charge month after month…. (I’m not bitter about credit cards though…)

Posted: Mon Sep 20, 2004 12:31 am

Post subject: Dividend Credit Card Review

Board Monitor - CA

Date: 3/21/2001 9:14 am CDT

Xavn and Linda,

If you haven’t already, take a look at our “Rewards Cards Report” (you can access this report from our home page by clicking on “Card Reports”) and then click on the “Cash Back Rewards” link. To answer you question…you can do better than 1%.

Hope this helps!

Best Regards,

Curtis Arnold

CFCCT P.R. Dir.

http://www.cardratings.com

archive

Posted: Mon Sep 20, 2004 12:18 am

Post subject: How to Get Wrong Information off Credit Report

jo

Date: 3/20/2001 2:20 pm CDT

Recently, I was denied credit based upon misinformation from Trans Union. Their information states that I have an undischarged bankruptcy within the past 12 months. Though I do have a bankruptcy on record, it was discharged over 4 years ago. Since then I have worked to rebuild credit, and have purchased a home. I have never been late on a payment. Throughout the lending process, I was proactive in communicating with the credit bureaus, and Trans Union was one of the bureaus that I disputed. They were to have updated their files, and I thought they had done so, now it seems that they are continuing to report innaccurately. Does anyone have advice as to how to correct this? I want this cleared up ASAP, can they be penalized for not updating my files after their investigation?

Posted: Mon Sep 20, 2004 12:19 am

Post subject: How to Get Wrong Information off Credit Report

molley

Date: 3/20/2001 3:35 pm CDT

Jo,

There are many things you can do. The first thing I would do is get your reports from Equifax and Experian, see if the error is also on those reports. Then dispute the 2nd BK with all 3 agencies. Say something like”I am distressed that you are reporting inaccurate credit information. The Fair Credit Reporting Act requires that you report only accurate information. This BK listed is not mine.” etc, etc.

They have 30 days to verify the information.If they can’t verify the information they must delete it. If it comes back as verified, then you report them to the FTC, which is their boss. The credit reporting agencies are not consumer driven, they really could care less if the information is accurate or not. They are paid by lenders. I would n’t say anything about the 1st BK that is listed, you have a pretty good chance of getting the 1st BK deleted also. If you do have to report them to the FTC you can do it at FTC/gov, you may have to search for it.

Send all of your corrospondence certified mail, return receipt. Watch your calander, when 30 days comes from the day when they received your letter, and they have not any corrospondence with you, then they have to delete it. You can sue them, if you threaten to do, then do it. If you do a ‘credit repair search’ you will come across multiple sites that will probably have sample letters posted. Try creditnet.com and go to their discussions boards. If you do get this removed,(which you will)the CRA’s have to notify within 5 days if it reinserted into your report. I hope this is some help. Good Luck.

Posted: Mon Sep 20, 2004 12:20 am

Post subject: How to Get Wrong Information off Credit Report

stacey

Date: 3/23/2001 3:44 pm CDT

Hi. Sorry to hear you are/were a fellow victim of inaccurate info! Here’s what I did: Check with an attorney in your state (Most offer free initial consultation) or call the legal aid. In my state the law prohibits dispensing inaccurate information when its inaccuracy is proven to have been brought to the attention of the CRA (credit reporting agency).My attorney sent an “request” to make the correction or a suit will be brought against the CRA for a n unfair and deceptive business practice, which allows for suit for treble (triple) damages! Try it! The satisfaction of turning the screws on the CRAs is tremendous! Don’t EVER be apathetic or passive about your legal rights!! (No, I’m NOT an attorney!!)

CAMMY

Posted: Tue Jan 20, 2004 11:29 am

Post subject: Sears Gold Mastercard Review

WHAT ARE YOUR VIEWS ON THE SEARS GOLD MASTERCARD?

Charley

Posted: Tue Jan 20, 2004 11:29 am

Post subject:

I think Sears is in the middle of selling their credit card operations. Unless you want your account sold to someone you have no control over, I’d stay away.

Posted: Tue Jan 20, 2004 11:30 am

Post subject: Sears Gold Mastercard Review

I’ve had the Sears Gold Mastercard for a couple months and I haven’t had any problems with them. A couple of things I like about the card is I can see all of my Sears recipts online and I can pay my bill at any Sears store (I haven’t done that yet, but it’s nice to know that I can pay my bill at Sears). When Sears sent me the card, I received some $5 off coupons off any $25 or more purchase. One thing I don’t like about the card is when you call to activate your card, or when ever you call Customer Service, they try to sign you up for Sears Rewards (see www.searscard.com for more information). Also, after you activate your card, call Customer Service and Opt-out (stop receiving phone calls and mailings from Sears) or they will call you and send you things in the mail for Sears Rewards and Credit Insurance. Since I’ve opted-out, I haven’t received anything from Sears.

Overall, I like the Sears Gold Mastercard.

Posted: Mon May 03, 2004 2:14 pm

Post subject: Sears Gold Mastercard Review

I hate the new system! I was late on my payment by a couple of days and was charged $35! I then payed my statement off in-full, thinking I was payed-up I got charged another $35 for a $1.16 finance charge!

I will never use the SEARS Gold MasterCard AGAIN!!

P.S. My original purchase was only $56.

archive

Posted: Mon Sep 13, 2004 5:56 am

Post subject: Joint Credit Card Account Tips

joint-at-the-hip

Date: 3/20/2001 5:37 pm CDT

Hi, my wife and I have a set of Mastercards issued

by Wells Fargo. It’s a joint account, and we wanted

to take her name off of it. (The account is in good

standing and does not carry a balance.)

However, when I called them I was informed this was

impossible; the only way this could be done was

canceling the card, and sending in a new application

(which I think is more trouble than it’s worth).

My question is, is this ‘normal procedure’? Ie do

all (or most) credit card companies follow this

‘rule’? Would it be worth sending them a request

in writing?

Thanks for any insight you can offer.

Posted: Mon Sep 13, 2004 5:58 am

Post subject: Joint Credit Card Account Tips

Brandon

Date: 3/20/2001 7:02 pm CDT

If an account is a joint account then each card holder agreed when the account was opened that they would share equal responsibility for the debt. This process with Wells Fargo is correct and is practiced faithfully by credit issuers. Some people get confused with joint account holders vs. Authorized users and there is a difference. An authorized user can be removed but a joint card holder cannot.

Posted: Mon Sep 13, 2004 5:59 am

Post subject: Joint Credit Card Account Tips

joint-at-the-hip

Date: 3/21/2001 10:05 am CDT

Thanks, Brandon. I definitely see your point! I just

didn’t get why this couldn’t be changed, if we sent

them a letter requesting this - as long as we both

signed it. Guess I’m just stupid .

Thanks though - at least now I won’t waste my time

trying .

Posted: Mon Sep 13, 2004 6:01 am

Post subject: Joint Credit Card Account Tips

Linda

Date: 3/20/2001 8:59 pm CDT

I think that this is a standard procedure…. I had that happen before and that’s exactly what the card company told me. It’s actually in your best interest as far as the credit bureaus…..this way they are closing the line of credit so that in 7 yrs it will fall off the report. Otherwise it may linger on your wifes report if you keep the same account number. It depends on how bad you want it to be an individually account. It wasn’t a real hassle to me because I didn’t want this person to have access to the card anymore…. you don’t need the actual card now a days, just a number will do!(ie:mail orders by phone or mail?) Hope that my reply helps you to decide! Linda

Posted: Mon Sep 13, 2004 6:03 am

Post subject: Joint Credit Card Account Tips

joint-at-the-hip

Date: 3/21/2001 10:18 am CDT

this way they are closing the line of credit so that in 7 yrs it will fall off the report. Otherwise it may linger on your wifes report if you keep the same account number.

Hmm, but that’s more an issue of proper reporting. If they

can add someone to an account, making it a joint account

(I’ve had this happen), they have no problems reporting

that correctly!

It depends on how bad you want it to be an individually >account.

Not THAT bad . We no longer have a need for that joint

account, and I want an extra card to keep business

expenses separate - taking my wife’s name off the account

seemed like the easiest solution! Of course, if I have to

close it, and reapply, I might as well apply for a better

card.