Post subject: Loan to Pay off Credit Card

Anne Adams

Date: 1/12/2001 7:53 am CDT

My DH has just been put on the disabled unemployed list and we are also raising a disabled, adopted GS. We have a MBNA credit card we have been trying to payoff for the last 10 years. The payment is $102.00 per mo., but the interest they are charging is $98.00 a mo! I called to find out why it was so high and they told me in the state of Delaware, they charge and change, without notification, any interest charge they want. I have tried to double the payments to pay it off, but it seems the more I pay, the higher the interest charge goes. Would it be worth our while to go ahead and put the charges on this card into another type of card to pay quicker, or take out a low interest loan to pay it off? We’ve been paying on it for over ten years and haven’t charged anything on it for that time. The original chges were about $5,000. and are still over $4,500. now.

Thanks

Anne A

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Post subject: Loan to Pay off Credit Card

Ira Stoller

Date: 1/12/2001 5:19 pm CDT

Don’t know what a DH or GS is, but it doesn’t matter.

I don’t know how good or bad your credit standing is, but let’s assume it’s ok. Probably the best thing you could do, if you own your home, is take out a home equity loan to pay off the credit card debt. The interest is both much lower and, unlike credit card interest, is tax deductible.

If that’s not possible, you should try to get other cards which offer low balance transfer rates. I doubt you’ll find the very low intro rates of a few years ago, but you can find some very reasonable rates. AMEX Blue offers something like 8.9% (don’t quote me on this!)on balance transfers.

Another thing you might try is a signature loan at your local bank. Again the rate will be much lower than you’re currently paying.

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Post subject: Tips on Late Credit Card Payments

nic

Date: 1/12/2001 10:30 am CDT

My question is: Are credit card companies obligated or legally bound to honor US Postmarks (dates) when assessing Late Fees to an account?

From time to time my Sunoco Master Card charges me a $29 late fee even though my payments are made several days in advance of their due date. I have called Sunoco to complain about this on several occasions. Each time it I call I get the same answer. Late Fees based on the date Sunoco Master Card processes the payment, not the postmark on the envelope. They further infuriate me by explaining; “I need to make my payment at least 7 days in advance to allow for postage and their processing time.” I spoke to my local postmaster about this and he assured me the typical delivery time from my location to theirs was 2 - 3 days maximum. I don’t see how Sunoco Master Card can hold me financially liable if it takes them 4-5 days to process payments. This does seem right.

Are Credit Card companies obligated to honor a US Postmark?

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Post subject: Tips on Late Credit Card Payments

Ira Stoller

Date: 1/12/2001 5:08 pm CDT

I have exactly the same problem with Sunoco, which is administered by Bank of America. The short answer is that the postmark has absolutely nothing to do with it. The posting date is allegedly when they receive your payment. I take this to mean when the mail room gets around to opening and sorting the mail and getting the checks up (or down) to the data entry people who then enter the checks. Customer service told me that they are obligated by law to process all checks within 24 hours of receipt, but I seriously doubt that they are doing so. I suppose we could do as one person on this board suggested and send payments certified mail, return receipt requested, and then compare the posting dates with the dates on the return receipt. Bottom line is they have us where they want us.

In reality you don’t have anywhere near the advertised 25 day grace period. Several reasons for this. First of all, they do NOT mail statements on the date that appears therein. Generally it’s 4-5 days later. By the time you get your statement, you’re already 7-10 days into the “grace period.” Second, we have the back end delay as mentioned above. In reality if you want your payment to be received on time you have less than a week from receipt of statement to get your check in the mail. Frustrating, but that’s reality for you.

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Post subject: Credit Card for Poor Credit

Doug

Date: 1/12/2001 11:35 am CDT

You have a sponsor of your site “Nextcard” under your area dealing with “Poor Credit”. I applied and was denied credit. You should take this credit card off of your “Poor Credit” section as they do not take people with poor credit.

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Post subject: Credit Card for Poor Credit

Board Monitor - CA

Date: 1/12/2001 12:39 am CDT

Doug,

Thanks for your post! I understand you must be frustrated (I would be too if I was in your shoes). However your assertion of bias is completely unfounded and inappropriate (though I will not delete it). NextCard does in fact cater to consumers with poor credit. In fact, they even offer a secured card. Also, I personally called NextCard anonymously and verified the information contained on our site.

You can click on the terms and conditions link from their online application page for more details about their card offerings. The “MilesOne” unsecured visa is definitely geared for consumers with marginal/poor credit (I don’t know of many consumers with “good credit” that would accept a card with a 26.49% interest rate and a $89 annual fee!).

As for bias, on several occasions, our staff has acted on the behalf of consumers that have had disputes with NextCard. We have always put consumer interests first (ahead of our sponsors’ interests) since we were founded in 1998.

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

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Post subject: Credit Card for Poor Credit

Board Monitor - CA

Date: 1/12/2001 3:00 pm CDT

Doug,

One other point that I would like to make about your assertion of bias is that, if we were indeed biased, then all of the cards on our site issued by our sponsors would receive five star ratings. This, however, is simply not the case. In fact, some of the cards issued by our sponsors have only gotten two star ratings (indicating a poor rating)! See our “Poor Credit” report for examples. I challenge you to find another credit card related site that offers such an objective view.

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

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Post subject: Credit Card for Poor Credit

Board Monitor - AD

Date: 1/12/2001 6:42 pm CDT

Doug,

NextBank offers credit to a variety of credit qualifications, including those who may have poor or limited credit. However, depending on your credit rating, it may simply have been too low for NextBanks credit qualification requirements.

Sincerely,

Alex Daskaloff

http://www.creditcardfreedom.com

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Post subject: Tips on Reducing Credit Card Debt

bob ainslie

Date: 1/12/2001 12:36 am CDT

I have a credit card with Bank of America that I am simply breaking even with every year! I haven’t used it in over a year but my payments are almost entirely interest. I can’t get a lower % credit card as I have too much debt and other cards simply won’t allow me to transfer . I pay everyone but it is frustrating-can you give me some advice?–Hedlp!!!

Bob

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Post subject: Tips on Reducing Credit Card Debt

Board Monitor - AD

Date: 1/12/2001 6:20 pm CDT

Dear Bob,

There are various strategies you can take to help reduce your debt, I would recommend that you visit the following page within CreditCardFreedom.com for some useful tips and tools:

http://www.creditcardfreedom.com/debt_management/advice/introduction.asp

Sincerely,

Alex Daskaloff

http://www.creditcardfreedom.com

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Post subject: Lowest Rate for Balance Transfer Credit Cards

DonP

Date: 1/12/2001 6:44 pm CDT

Which cards offer best rates with no fee transfer of other card or equity loan balances?

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Post subject: Lowest Rate for Balance Transfer Credit Cards

Board Monitor - CA

Date: 1/16/2001 7:17 pm CDT

DonP,

Please consult of “Low Intro. Rate Report”. This report will tell you which cards are the most attractive in terms of balance transfer offers. You can access this report by clicking on “Card Reports” from our home page.

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

archive

Post subject: How to Find a Lower Interest Rate Credit Card

calfcreek

Date: 1/12/2001 7:21 pm CDT

We are looking for a low interest rate card. Our credit rading is not very good but is cleaned up and payed up. Could you help us find something better than 22%?

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Post subject: How to Find a Lower Interest Rate Credit Card

Kathy Sigel

Date: 1/13/2001 1:00 am CDT

You might try Citibank Platinum Select at 1-800-950-5114. My current fixed interest rate is 9.9%. My credit though, is very good. We havent had any problems with them. Be careful of the services they offer. Just say no!!! And don’t EVER pay someone to give you credit!!! They want your business. You should never ever pay for that.

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Post subject: How to Find a Lower Interest Rate Credit Card

Susan

Date: 1/15/2001 3:28 am CDT

Citibank requires near perfect credit. Any negatives usually generate a denial.

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Post subject: How to Find a Lower Interest Rate Credit Card

anthony ward

Date: 1/14/2001 5:39 pm CDT

i’m showing that i have a chege account with travelers bank/fdr.i’m trying to find some imformation out about the account. i don’t remember getting or signing anything for this account.

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Post subject: How Do Student Loans Affect Credit History?

Dan W

Date: 1/13/2001 10:45 am CDT

I have taken out student loans as I am in the process of college. They are subsidized and since I am still in college and I have not begun to pay them off yet. How would this be viewed by potential card issuers?

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Post subject: How Do Student Loans Affect Credit History?

Shereen

Date: 1/14/2001 11:52 am CDT

Im in my 3rd year at The Pennsylvania State University and I have a lot of student loans too. On my credit report they just reflect that: Paid or paying as agreed. Since you are not required to start repaying them back yet, they are going to reflect POSITIVELY on your credit report.

But, You should obtain a copy of your credit report to be certain (from all three credit reporting agency’s)

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Post subject: Credit Card Calculator

Debbie Roulston

Date: 1/14/2001 12:37 am CDT

When I input the information on the calculator as to should I consolidate, I don’t understand one thing….why is it when I am only paying out $125.00 on two credit cards, the calculator shows current payments of $236.00??? So, of course it is going to look good on paper if my payments are “reduced” to $190.??????

I know that I would save in interest but I do not understand the monthly payment part of it. Thanks for your help.

Debbie

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Post subject: Credit Card Calculator

Board Monitor - CA

Date: 1/16/2001 7:13 pm CDT

Debbie,

Which particular calculator are your referring to? Also, please describe what you entered into the calculator in more detail. I am somewhat confused, but will try to help.

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

archive

Post subject: Credit Card Calculator

Board Monitor - CA

Date: 1/18/2001 10:26 am CDT

Debbie,

I assume you are referring specifically to our “Debt Consolidation” calculator. However, I am still confused. This calculator only has fields for your balances on each card and interest rate on each card…not for your monthly payments. Maybe we are talking about two different calculators. Out of curiosity, are you considering a “home equity” type loan to pay off your existing two cards?

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

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Post subject: No Fee Credit Card

Don Simonsen

Date: 1/15/2001 0:15 am CDT

I have had an excellent payment record until 6 months ago. I never missed a payment and was less then a week late on maybe as many as two payments per year. My court date for my bankruptcy was this month.

Question: Can I get a No Fee credit card with a grace period. The interest rate is no problem. Even a credit limit of $100 would be nice.

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Post subject: No Fee Credit Card

Board Monitor - CA

Date: 1/18/2001 10:22 am CDT

Don,

Thanks for your post and sorry to hear about your financial difficulties. I am not aware of a no fee card out there for someone in your situation. Even if your bankruptcy was dismissed, your would be hard pressed to find a no-fee card. You can find a list of cards that cater to consumers with “poor credit” by clicking on “Card Reports” from our home page and then on the “Poor Credit” button.

Hope this helps! Keep us posted on your progress.

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

archive

Post subject: Charity Credit Cards

Jody Kutley

Date: 1/14/2001 0:12 am CDT

Besides WorkingAssets and First USA, can you suggest any other credit cards

where a percentage of my monthly statement (or individual charges), goes to

political, environmental and socially progressive causes?

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Post subject: Charity Credit Cards

Board Monitor - CA

Date: 1/14/2001 0:17 am CDT

Jody,

Thanks for the post! These cards are commonly referred to as affinity cards. You can find an in depth article on this subject by visiting the following link.

http://www.bankrate.com/kgw/news/cc/20000320.asp

It is refreshing to know that some consumers are concerned with more than just cash back bonuses and f.f. miles!

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

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Post subject: Charge Offs On Credit Report

Shereen

Date: 1/14/2001 11:47 am CDT

It is better to have your credit report read:

Charge off- Paid in full

or

Charge off- Settled

Or does it really matter anyway because it is still a charge off account.

Thank for your feed back!

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Post subject: Charge Offs On Credit Report

Susan

Date: 1/15/2001 3:10 am CDT

From what I understand, A paid charge off hurts just as bad a an unpaid charge off. It remains on your report for 7 years. Try to negotiate with the creditor for payment in full without reporting negative info to the big 3. Make sure you get it in writing before you pay. Good Luck

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Post subject: Charge Offs On Credit Report

curious

Date: 1/15/2001 6:34 pm CDT

Is a charge off worse than a collection or are they considered the same??

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Post subject: Credit Card Consolidation Calculator

Debbie Roulston

Date: 1/14/2001 12:37 am CDT

When I input the information on the calculator as to should I consolidate, I don’t understand one thing….why is it when I am only paying out $125.00 on two credit cards, the calculator shows current payments of $236.00??? So, of course it is going to look good on paper if my payments are “reduced” to $190.??????

I know that I would save in interest but I do not understand the monthly payment part of it. Thanks for your help.

Debbie

archive

Post subject: Credit Card Consolidation Calculator

Board Monitor - CA

Date: 1/16/2001 7:13 pm CDT

Debbie,

Which particular calculator are your referring to? Also, please describe what you entered into the calculator in more detail. I am somewhat confused, but will try to help.

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

archive

Post subject: Credit Card Consolidation Calculator

Board Monitor - CA

Date: 1/18/2001 10:26 am CDT

Debbie,

I assume you are referring specifically to our “Debt Consolidation” calculator. However, I am still confused. This calculator only has fields for your balances on each card and interest rate on each card…not for your monthly payments. Maybe we are talking about two different calculators. Out of curiosity, are you considering a “home equity” type loan to pay off your existing two cards?

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

archive

Post subject: Tips on Establishing Credit

dma

Date: 1/15/2001 11:24 am CDT

I have made a concerted effort to re-build my credit history. I have bought a car, bought a home and have applied for and received 3 dept. store cards, a gas card and have 2 visa cards with small credit limits. The dept. store cards have larger credit limits. I pay these bills faithfully every month. I wanted to apply for a more established visa credit card, but was denied because of the reasons stated: “too many inquiries in last 12 months”, “total available revolving credit” and “insufficient number of credit accts rated satisfactory”. This is crazy because, you are constantly bombarded with mail of preapproved credit offers, so inquiries are made on your credit that are not authorized by you; I established this accounts to strengthen my credit and now I have too many accounts to satisfy receiving a more established card. What to do !? Should I close some accounts? Or should I continue to make payments and hope in the future my credit rating will improve.

Thank you.

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Post subject: Tips on Establishing Credit

Shereen

Date: 1/15/2001 12:36 am CDT

Just to inform you…

When you receive a preapproved offer by mail or phone, a credit report IS NOT pulled. Preapproved means… that specific creditor receive CERTAIN information (it may be as little information as your income, or job, or even the state you live in) this information that they had received filled the criteria that they were looking for to offer you that PRE-Approved offer.

In other words: YOU HAVE RECIEVED A PREAPPROVED OFFER BECAUSE ACCORDING TO THE PRESCREENING INFORMATION OFFERED TO THE CREDITOR FROM THE CREDIT REPORTING AGENCIES, YOU FILLED THEIR CRITERIA.

IF you respond to the preapproved offer…you give the creditor grounds to pull, and they WILL pull, a full credit report on you and base their credit decision on the full information.

And, as you know, a simple thing like excessive inquires can hurt and possibly deny you credit with that specific company.

In addition, when a creditor sees that you have lots of inquires, it shows that you may be CREDIT HUNGRY or may be having some financial difficulties and trying to acquire credit.

Some advice…work with what you already have. You have alot of credit now, work on building that by paying your bills on time all the time and stop trying to get more credit. If you work with what you have, you will get more credit from your current creditors.

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Post subject: Tips on Establishing Credit

dma

Date: 1/15/2001 8:38 pm CDT

Shereen:

thank you for answering my email. i don’t apply for the preapproved offers i get in the mail, i just wasn’t sure if this was being used against me. and i am now aware that certain inquiries are not reported to businesses. the cards i do have i applied for over time. and i pay all of my cards on time, each month. i even have paid off balances in full most times. but this is not reported to help your credit rating. it is very frustrating to make the effort to pay your bills and still be considered a risk. i will continue to pay my bills ON TIME and close some accounts completely. the card companies with the limit on credit work against the consumer not for them (excessive fees late and overlimit). the overlimit fee is applied if you are $.01 over. that is crazy. and the limits are so low that you can get very close to that limit (which is also a strike against your credit rating). i will not be applying for any more credit for long time.

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Post subject: Tips on Establishing Credit

Shereen

Date: 1/15/2001 8:49 pm CDT

To respond to you posting:

Just remember “you didnt get into debt in one day, and it wont take you one day to get out of it.” Time is the only thing that you have on your side to heal credit! Take advantage of it.

A good thing to start practicing with all your credit accounts is: NEVER EVER USE MORE THAN 75% AT THE MAX OF YOUR CREDIT you will avoid ever being charge over limit fees and getting frustrated.

It is easier to lower your credit limit on your credit cards than to raise them. The best way to reestablish yourself with credit is:

-1.Your total amount of credit…on all cards… should not exceed what you make in one month.

-2.Keep ONE credit card in your house that has a 500-1000 limit as AN EMERGENCY CARD…This card is the only exclusion to the cards i was talking about in number one.

Doing this will allow you to NOT have excessive credit, but…if there is an emergency you still have the credit you need.

hope i helped!

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Post subject: Best Credit Card Deal

Ling

Date: 1/15/2001 12:31 am CDT

Hi, I have 2 credit cards both with low interest rates, one is 12.5% and the other is 12.9%. My balances on both are under $700.00. I was wondering if it would be in my best interest to apply for one of the cards that offer 0.0% for ?? months and a set interest rate thereafter? Most of the offers I have seen are a higher interest rate than what I am paying now. I would like to save a little on interest, but don’t know if this is the way to go about it. Do you know of any cards that offer a low low intro. rate with a lower set APR? I also have no fees for either of my cards. Thank you!

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Post subject: Best Credit Card Deal

bonnie smith

Date: 1/16/2001 2:21 pm CDT

Hi, If I were you I would stay with the lowest and raise my limit on the card. If you read the offers — It’s 0 but, when the increase % there is always a + added to their rates

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Post subject: Credit Card Foreign Exchange Fee Review

Ted

Date: 1/15/2001 2:00 pm CDT

My credit cards all charge a 2% fee on purchases made outside of the US. Are there cards which do not charge this fee?? Which ones??

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Post subject: Credit Card Foreign Exchange Fee Review

Dani

Date: 1/15/2001 9:51 pm CDT

Ted:

I know American Express doesn’t charge any fees for purchases outside of the United States. I went to Mexico a couple of months ago and used my AmEx the entire time I was there - no problem at all. Take care.

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Post subject: Credit Card Foreign Exchange Fee Review

Eugene

Date: 1/17/2001 0:19 am CDT

I know American Express doesn’t charge any fees for purchases outside of the United States.

According to http://www.bankrate.com/brm/news/cc/20000403.asp?keyword=, it does. The fee might be hidden in the exchange rate, so you do not see it.

Aspire (http://www.compucredit.com/pdcts.html) says they do not charge those fees, that’s in addition to those issuers listed in the article.

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Post subject: Non-Resident Credit Cards

Charles

Date: 1/16/2001 1:14 pm CDT

Hello Everyone

Can anbody please advise me

how / where I can get a credit card.

I am British. I live in France.

I do not have a US social security number.

I do not have US residency.

I do have a US mailing address

just to receive correspondence so I

could receive some letters from a US / offshore

bank which can be redirected to me in France.

I do not have a US bank account.

I might be prepared to apply for a

“secured cc” - but I am worried about

all the scams out there.

What can I do ? I need this info for my

own use and also for many of my clients

in my own work.

I appreciate any help.

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Post subject: Non-Resident Credit Cards

Linda in VA

Date: 1/19/2001 0:52 am CDT

Charles,

I don’t know a lot about this, but ser=veral of the big card banks (Citibank, for one) are international and issue cards to residents of countries other than the US. Why don’t you look up their European websites and see if you can contact them there. I recently saw a website for Capital One the UK, you might want to look that site up too. They have links to their European sites on their main website, I believe. If not, search with google.

Linda in VA

http://chesapeakeassociates.cjb.net

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Post subject: Prepaid Credit Card with Small Available Limit

DSharp

Date: 1/16/2001 2:23 pm CDT

I want to find a VISA/MASTERCARD/DISCOVER card vendor that will allow me to put a small credit limit maximum on it in order to feel more comfortable sharing the account with our 16 year old daughter. She would be using it to make weekly gasoline purchases for her car (she and I are each paying for 1/2 of the gasoline since she is running errands and carting her siblings around for the family as well as her own activities). I applied for a separate VISA card account with both names on it but the vendor will not let me go to a credit limit of just a few hundred dollars. Is there a card that will allow me to limit the credit maximum to $3-500 dollars?

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Post subject: Prepaid Credit Card with Small Available Limit

Board Monitor- NK

Date: 1/16/2001 4:15 pm CDT

You should be able to put a maximum of $500 on a standard card. I would open the account first and then have the credit line reduced. When you have it reduced also tell them you don’t want any automatic increases in the credit line.

Kat

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

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Post subject: Prepaid Credit Card with Small Available Limit

DSharp

Date: 1/16/2001 4:44 pm CDT

Thanks for your suggestion. I guess I need information on how to apply for a “standard card” that will allow a $500 credit limit instead of the “platinum card”? I did as you suggested, “applied first” but got sent a platinum card which has a minimum credit limit of $5000. Is there a certain vendor who offers this type of card (versus others who look at your credit rating and send what they think is best)? Any help with this is greatly appreciated. DLS

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Post subject: Prepaid Credit Card with Small Available Limit

Board Monitor - CA

Date: 1/16/2001 7:10 pm CDT

DSharp,

Take a look at our Sept. article that deals with the subject of teens and credit. I think you may find it helpful. Here’s the link:

http://www.cardratings.org/sept00new.html

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

archive

Post subject: How to Get a Lower Interest Rate Credit Card

A. Watson

Date: 1/17/2001 0:28 am CDT

Hello,

I have been a MBNA card member for six years and it is the only credit card I have.I pay every month on time but the interest rate keeps increasing. It started out around 15 or 16 percent, now it can go as high as 20.5 percent. I received the card through the Golden Key Honor society. I have contacted both the honor society and MBNA to request lower rates and have been told by both to talk to the other organization.I last contacted MBNA over a month ago and I have received no reply. Can you offer any suggestions?

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Post subject: How to Get a Lower Interest Rate Credit Card

Ira Stoller

Date: 1/17/2001 10:13 am CDT

MBNA does a lot of vanity cards. It’s definitely MBNA which administers the card, sets the interest rate, etc. I would politely call their customer service and tell them that you are about to switch to a card with a lower interest rate but you wanted to see if there was anything they could do for you. Chances are they might suggest switching to another MBNA vanity card which has a special promotional rate in effect. I’ve done this about six times with them. It truly does not matter which card you have so long as you get the best possible deal offered.

If this doesn’t work, check into some of the card offerings listed elsewhere on this board, apply for one or more new cards, and once you get them, transfer your balance away from MBNA.

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Post subject: Best Way to Cancel a Credit Card

Enrique

Date: 1/17/2001 1:11 pm CDT

What is the proper way to cancel a credit card

without affecting your credit rating?

I have 5 platinum credit cards, they all started

with a low rate, but now some have gone as high as

17 %. I am planning on keeping 2 of them that have

a fixed 9.9 and 10.9 rates.

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Post subject: Best Way to Cancel a Credit Card

Mom

Date: 1/17/2001 1:27 pm CDT

First it is BEST if you have a ZERO balance, and when canceling make sure you tell them to report this to be closed at COSUMER’S REQUEST. I also have them mail me a letter stating the account was closed at my request. And stick to your guns, they may try to send you to retention and offer you more credit, lower rates but if you want them closed stay strong!!

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Post subject: Best Way to Cancel a Credit Card

Enrique

Date: 1/18/2001 3:42 pm CDT

Thank You Guys. Very good inputs. To summarize:

Pay off balances, request a hard closure, stick to

your guns. That leaves the question about my FICO

score. I have a FICO of 700, my wife with 3 or 4

less credit cards (some are on my name only) has

a better FICO score (720), for sure I don’t know

how this obscure FICO scoring works, does anybody?

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Post subject: Best Way to Cancel a Credit Card

Mr. Clams

Date: 1/18/2001 4:18 pm CDT

The FICO scoring model is made by a company called Fair, Isaac and Company. They consider their formula to be a trade secret so they won’t tell you exactly how to raise your score but they do give a good list of score factors that should give you a better idea of how the score is calculated. This link is:

http://www.fairisaac.com/servlet/SiteDriver/Content/912

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Post subject: Best Way to Cancel a Credit Card

Mr. Clams

Date: 1/17/2001 4:29 pm CDT

I agree with Mom’s advice.

You have a good question to which I doubt anyone here can really give an answer. Closing your three highest interest credit cards will likely have some effect on your credit score. But will it be positive or negative? If I were you I would check your credit reports. If the two cards that you plan to keep are reporting to all the CRAs then I would cancel your other cards. If not, I might consider keeping one of the higher interest ones that is reporting.

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Post subject: Credit Card Cash Reward Programs

Board Monitor - CA

Date: 1/17/2001 1:55 pm CDT

To all,

We recently had someone complain that they applied for the Fleet Titanium Cash Rebate card on our site and, two weeks later, received a standard titanium card. Just curious if anyone else has had this problem? Fleet tells me that the link on our site is fine, however, Fleet’s customer service dept. insists that this person’s titanium card has no cash reward features. Would appreciate any feedback.

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

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Post subject: Credit Card Cash Reward Programs

Dani

Date: 1/17/2001 6:36 pm CDT

We know how much I love Fleet (ha!), but to my knowledge Fleet’s Titanium Card does not come with a Cash Rebate award-at least ours did not. Fleet Titanium’s draw is its offer of low interest rates. I am sure the rebate card is probably another unethical lure from Fleet Credit Card Services.

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Post subject: Tips on Getting Old Information off Credit Report

Lost Mine

Date: 1/17/2001 10:35 pm CDT

How do I go about getting old information off my credit I went from AA+ credit to zip…I now make house payments in my wifes name and get no credit for doing so every month, I am not on the loan papers. should I be…

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Post subject: Tips on Getting Old Information off Credit Report

Susan

Date: 1/18/2001 10:27 am CDT

What kind of information are you trying to get deleted? Most records stay on 7 years, Bankruptcy stays on ten, Judgements stay on 7, unpaid tax liens stay on indefinitely. About the mortgage. Is your name on the loan? Or was it obtained only in her name? I had a similar situation. The only way to get it reported in both names was to refinance with a joint account. Hope this helps.

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Post subject: Credit Card Customer Service Reviews

Mark Stern

Date: 1/18/2001 1:46 pm CDT

To Whom It May Concern:

Does anyone have any suggestions on how to find a credit card company with impeccable customer service?

I read everybody’s credit card recommendations and I think they are all missing one piece of CRITICAL information. That is: how do you rate the company’s customer service – Especially when it comes to credit card disputes. This is an area that varies widely from company to company and to a person like myself who charges aprox. 5k/mo in charges, there are always disputes and there are always incompetent people/policies at the other end of the line. For example: I would love to know which credit card companies allow claims to be filed by phone, or online versus the usual jumping through hoops - mailing and faxing documents into a black hole? I would gladly pay a higher annual fee for outstanding customer service.

Does anyone have any suggestions?

Thank you in advance,

Mark Stern

my2cents@hotmail.com

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Post subject: Credit Card Customer Service Reviews

Board Monitor - CA

Date: 1/18/2001 2:18 pm CDT

Mark,

Thanks for your post! You bring up an interesting subject. You may find our “Cardholder Loyalty” link provided by J.D. Powers to be of interest. Customer service comes into play with this report from what I understand. The info. is a little dated, though (Aug. 99).

Here’s the link:

http://www.jdpa.com/studies/pressrelease.asp?StudyID=427&CatID=5

I have seen posts on our board regarding disputes before (you can do a search if you haven’t already). I don’t recall any situations where a consumer was pleased with the dispute process (maybe that is b/c we have a lot of negative posts!), but do recall someone being upset with AmEx (who, by the way, is clearly above the curve when it comes to general customer service).

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

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Post subject: Best Rebate Credit Cards Tip

tom

Date: 1/18/2001 7:23 pm CDT

Is it possible to search this site, or another, to find a list of credit card companies that offer rebates, i.e. discover cards’ 1 % cash back.

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Post subject: Best Rebate Credit Cards Tip

Eugene

Date: 1/18/2001 10:32 pm CDT

Check out this site: http://www.creditcardgoodies.com/, and especially this part of it: http://www.creditcardgoodies.com/grapevine/.

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Post subject: Does Applying for a Credit Card Effect Credit Rating?

sbocks

Date: 1/19/2001 11:25 am CDT

What, if any, affects are there to your credit if you apply for a credit card? I know if a person is applying for a loan an inquiry will be posted. Does it happen the same way with credit cards?

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Post subject: Does Applying for a Credit Card Effect Credit Rating?

Board Monitor - AD

Date: 1/19/2001 7:37 pm CDT

Dear sbocks,

Each time you apply for a credit card your credit report is checked (in most cases) and an inquiry is posted on your credit profile. Though this is quite normal, you do not want to apply to too many credit cards in any one time, as each inquiry lowers your credit score.

Sincerely,

Alex Daskaloff

http://www.creditcardfreedom.com

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Post subject: How to Get Name Off Joint Credit Card

Sharon

Date: 1/20/2001 0:03 am CDT

I was recently divorced and my ex-husband and I had many joint credit cards. We split up the use of the accounts but they are still in both of our names. What is the best way to get my name off of his accounts and his off of mine?

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Post subject: How to Get Name Off Joint Credit Card

Eugene

Date: 1/21/2001 11:30 pm CDT

What you do depends on how much you two trust each other, and some other private issues that only you can evaluate. In the worst (or best?) scenario you will have to have a clean start (cancel ALL the cards and re-apply). It may be done simpler if each issuer agrees to just give you a card with a new number when you tell them you just divorced.

If you are less paranoid (which is not necessarily better), each of you will have to remove the secondary user (authorized user, co-holder or whatever) from each of the cards. It is easy to remove an authorized user, might be impossible in the co-holder’s case, then you will have to cancel the card.

I would work with each issuer, their advice and policies will be different.

Follow up the conversations with letters, request written confirmations and keep all the paperwork. It’s very important to have proof that you are not liable for each other’s credit as of this date.

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Post subject: How to Get Name Off Joint Credit Card

Brandon

Date: 1/22/2001 10:35 am CDT

You first need to make sure if the accounts are JOINT accounts or if you are an authorized user and vice versa with your ex’s accounts. I do know a lot of people get the two confused. If it is a joint account you are both equally responsible for any debt that accrues on the account and that is even after a divorce, so you would want to call and close those accounts down. You will still be responsible for the debt if any on the account so you may want to watch and make sure it is paid. As the other post states you will have to apply for a new account if you want one. If you are an authorized user you can just request that your name be removed and that a confirmation letter be sent out. That way at that point when you remove your name you will no longer be held liable for purchases on that account. Although depending on some states you may still have that reporting to your credit for a few years after your divorce.

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Post subject: Pre-Paid Teen Credit Cards

Board Monitor-CS

Date: 1/20/2001 10:47 pm CDT

Hello Everyone!

I was wondering if any parents/teens/individuals out there have had any good/bad experiences with Visa Buxx, American Express Cobalt Card, M2 Visa, Pocketcard, etc. ? They have become incredibly popular over the past couple of months and I was simply wondering what cardholder thoughts have been.

Take Care,

Casey L. Smith

http://www.cardrevolt.com

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Post subject: Pre-Paid Teen Credit Cards

Eugene

Date: 1/21/2001 8:45 am CDT

I think your experience with a particular card are very likely to be good if (1) the issuer has good reputation, and (2) the card T&Cs do not stink.

I do not see any other conditions, but I’d be glad to hear them if somebody else does.

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Post subject: Credit Card Cancellation Tips

Ira Stoller

Date: 1/20/2001 11:34 pm CDT

I just received a letter from Bank of America which administers the Sunoco MasterCard program stating that they are discontinuing the Sunoco rebate program. This is sad news to many of us who enjoyed the 4% rebate on Sunoco gas and 1% rebate on all other purchases. The dates given are a bit confusing. They state that the rebate program will be ending on May 18th, 2001. Rebates will continue to be earned through the March, 2001 billing statement. All rebates must be redeemed by June 30th. I have no clue as to the significance of the May 18th date.

The letter goes on to say that all credit privileges will continue and that a replacement card (presumably without the Sunoco logo) will be issued, “…at a later date.”

This is sad news to me as I have personally earned over $1,000.00 in rebates since I first got the card in 1996. I wonder what this means in the greater scheme of things. Could it mean the tightening of consumer credit and the beginning of the end of such reward programs?

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Post subject: Credit Card Cancellation Tips

Eugene

Date: 1/21/2001 8:35 am CDT

I wonder what this means in the greater scheme of things. Could it mean the tightening of consumer credit and the beginning of the end of such reward programs?

Individual rebate/reward programs seem to come and go faster than you can find out their terms and consider if you want to apply. It’s especially difficult to stay on top of the wave with them.

I don’t think it’s the end of the trend, though. Competition is not decreasing, and I think more people who pay in full will want to move toward those cards, not many know of them yet. You just have to hop from one to another, much like playing a balance transfer game, only without carrying balance. I hope those programs become more stable, too, so that if you want to stay with the program, you could.

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Post subject:Credit Card Cancellation Tips

Ira Stoller

Date: 1/21/2001 11:11 pm CDT

The Sunoco rebate program has been around since 1994 and seemed very stable. Oh well, I guess you can’t predict the future. As you say, things come & go with annoying regularity.

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Post subject: Credit Card Cancellation Tips

Chuck Ulmann

Date: 2/8/2001 8:21 pm CDT

Yes, I hate to say I’ll miss something but I will. I wonder if handling all those stupid 5 dollar coupons sunk it? I’ll never understand why they went that route. I liked the way it originally worked, straight credit to your balance. Ah, such is life. Time to look for another card…that is why I came visiting!!! ceu

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Post subject: Can I Get a Credit Card with Bankruptcy?

Ev

Date: 1/20/2001 11:56 pm CDT

Every credit card we apply for gets turned down because of a bankruptcy over 7 years ago. We have a great Fico score and our credit reports look great, except for that bankruptcy. Is there any credit card company that will approve us for a card?

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Post subject: Credit Card Low Balance Transfer APR

glen

Date: 1/21/2001 11:26 pm CDT

Hello. I was wondering if anyone could suggest a credit card that offers a low (or 0%) apr for balance transfer for some reasonable amount of time (perhaps at least 3 months) and that one would likely to be approved for, with fair credit. Any response would be very greatly appreciated. Thank you.

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Post subject: Credit Card Low Balance Transfer APR

credit smart

Date: 1/22/2001 6:46 am CDT

Sorry but i must tell you this,there is no card available for 0% balance transfers for people with fair credit. I take it you must have some bad mixed with the good. Creditors will only honor their 0% deals for people with good to excellent credit rating.A min. FICO score of 680 points or more is needed to qualify for their 0% balance transfer offers or for their super low rate balance transfer offers.Sorry for the bad news.

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Post subject: College Student Credit Card Tip

Board Monitor - CA

Date: 1/22/2001 11:21 am CDT

To all,

Just heard that 60 minutes is going to feature a segment on the subject of college students and credit card debt this Tuesday night at 8:00 CST. Just thought it may be a topic that some parents out there would be interested in. Here’s a link:

http://cbsnews.com/now/story/0,1597,48284-412,00.shtml

I’ll be watching it and I’m not even a parent!

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

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Post subject: College Student Credit Card Tip

Board Monitor - CA

Date: 1/24/2001 10:07 am CDT

Was very insightful! Take a look at the full story at

http://cbsnews.com/now/story/0,1597,265630-412,00.shtml

Includes a video clip in case you missed the show.

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org

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Post subject: Lower Interest Rate Credit Card Tip

Judy

Date: 1/22/2001 11:27 am CDT

I was writing to see how I could see about getting my percent rate changed

to a lower rate. I’ve had the card for a while and have been keeping up with

my payments so I was just wondering if it was possible to see about reducing

my % rate.

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Post subject: No Credit Check Credit Card

bayhouse.com

Date: 1/22/2001 11:57 pm CDT

Hi there Curtis,

I thought I’d wait and see if you would voluntary change your recommendation of the Net 1st MasterCard, but I guess you don’t take a hint.

I’m sure you recall the fake.org mostly private e-mail discussion we had last year. And of course nothing changed. What was I thinking? Miracles or something

I can see that Alex wants to make a buck, after all, he’s a .com. What’s your excuse? From your review:

\b{This card boasts a 0% interest rate (more info. below) and “no credit checks” (charge offs are even overlooked)! It also boasts guaranteed approval for U.S. citizens residing in the U.S. that have a valid checking account. Another attractive feature is that the card reports to all three major credit bureaus!}

Not for a billion bucks would I want your karma.

Well, my complaint with the FTC is here:

bayhouse.com/discus/messages/649/1080.html?980224487

And later tonight or tomorrow I’ll post my formal complaint with the OCC.

I can’t find any info on the ownership of this board. I thought it was creditcardfreedom.com, but now I got here from cardratings.org.

Are there a whole bunch of credit sites linked to this board? Is this just a shared advertising gig?

Sincerely,

Christine Baker

bayhouse.com

The cardratings.org review in its entirety:

“Net1st Mastercard Updated 01/01! Site sponsor. Note! The Net1st card is now being issued again. This card caters to consumers seeking to establish credit or rebuild their credit. This card boasts a 0% interest rate (more info. below) and “no credit checks” (charge offs are even overlooked)! It also boasts guaranteed approval for U.S. citizens residing in the U.S. that have a valid checking account. Another attractive feature is that the card reports to all three major credit bureaus! The card operates much like a secured card, though there are some subtle differences. A refundable $500 Reservation Fee is required (the “Reservation Fee”) in connection with the opening of your account. The Reservation Fee will be charged to your credit card account and will fully utilize your initial $500 credit limit. Before you may use your card or account to make purchases or to obtain cash advances, you must make payments on your account. The difference between the total unpaid balance and your credit limit will be the amount of credit available to you. The 0% interest rate can be attributed to the reservation fee.”

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Post subject: No Credit Check Credit Card

Board Monitor - CA

Date: 1/23/2001 2:16 am CDT

Christine,

Thanks for your post! We will definitely take a look at your comments regarding this card in the near future (we typically review cards every six months). If we were “big fans” of this card as you seem to imply, we would give it a a perfect five-star rating. However, this card has never gotten over a three-star rating on our site. But, I do appreciate you bringing these matters to our attention and we will, as mentioned, take them into consideration.

Regarding your inquiries about this board…this board is shared with four sites: CreditCardFreedom.com, CardRevolt.com, CreditCardRates.com, and CardRatings.org. You can read more about the board, including the board monitors by following this link:

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

Finally, the fact that we incorporated this month on a for-profit basis is fully disclosed (including the reasons for doing so) on our “About Us” page. I don’t appreciate the tone of your post. You seem to imply that we are intentionally misleading consumers in this regard. The governing body that handles domain name registration does not require that an organization be non-profit in order to obtain a .org domain. However, we reserved the .org domain b/c we had planned on being a non-profit up until late last year.

Plase don’t make such brash statements about an organization that you know very little about.

Best Regards,

Curtis Arnold

CFCCT P.R. Director

http://www.cardratings.org