Author: Fess

Post subject: Ready to upgrade to unsecured credit card, Advise please!

Hello,

I have successfully gotten my mom a credit history built over the past year.

Currently she holds a citi secured credit card ($500 credit line). I’d like here to upgrade to a unsecured card with the lowest available annual fee and interest rate she can get.

After researching citi’s many cards, I’ve decided to go for the “Citi® Dividend Platinum Select® MasterCard®”

Upon calling citi, the operator stated that my mom does not have enough credit line to upgrade to this card.

They then advised that I could put in a request to increase her credit line, and then requested me to decide on a new credit line amount. I told them I’d call back.

My question is, what is a appropriate amount (in dollars) to increase your credit line when coming from a unsecured card? $2000, $5000, $10,000 ?

Any advice is appreciated

Thanks

Fess

Author: BB

Post subject:

i would just ask them if they could tell me what the min. amount of credit available for that card is and then apply for that amount

Post subject: Upgrading to an Unsecured Credit Card

Fess,

Greetings and thanks for the post! I’m confused…are you talking about getting a credit line increase on a card that your mom doesn’t yet have?

_________________

Best Regards,

Curtis Arnold

Board Monitor

http://www.cardratings.com

(501) 663-0314

Author: jmichaelp

Post subject: Credit card says I paid a day EARLY & are charging me fe

Hi, earlier this year I had a lot going on & wanted to ensure that I wouldn’t be late on a particular payment when things were hectic. Although I would be giving up the grace period, I submitted a payment online just before the statement came out (8/22/05) & timed it so that it would clear my bank and pay exactly on the day the credit card statement dropped (8/23/05).

So, what I planned to have happen, actually worked - funds from my bank paid the credit card company on the exact due date. Unfortunately, the credit card company says that I date I submitted the online payment is the payment date, not the date they received money from my bank.

As far as I know, the credit card company’s bank has to present the “check” (in this case it’s electronic) to my bank before my Bank will pay it. My bank records don’t show the CC company’s bank being paid on 8/22 but on 8/23.

Although perhaps a lot of businesses allow customers to use float & everyone does so without thought or hesitation, it’s actually illegal! So, while my CC normally credits account holders when the promise to pay is made (on 8/22 in my case), they really shouldn’t & I don’t think they have a legal right to say that is when I paid them.

After I explained this to my CC company they gave me back my late fee, but started charging interest on my outstanding balance (this was about 3 months through a 1-year interest free period). After I realized this was happening, I complained & told them I wanted to settle this either legally or through arbitrage.

Thanks for any help!

Post subject:

Quote:

After I explained this to my CC company they gave me back my late fee, but started charging interest on my outstanding balance (this was about 3 months through a 1-year interest free period). After I realized this was happening, I complained & told them I wanted to settle this either legally or through arbitrage.

Thanks for any help!

I doubt you have snowballs chance in H***. This is why they give 0% offers, people occasionally screw up. I would just pay off the card and move on with your life. I wouldnt threaten them with ridiculous legal action because they hold the marbles. Next time, monitor your bt’s a little closer.

Post subject: Re: Credit card says I paid a day EARLY & are charging m

Im confused as to what you did. Every bank is different and schedules payments differently for bill pay.

I have tried numerous bill payment systems and only found one to my liking and they were rated the best by Keynote in their ratings.

My bill payment gives me information such as:

This payment was transmitted electronically to ABC on 01/09/2006. Funds were withdrawn from your account 123 on 01/06/2006. ABC usually applies electronic payments on the next business day. Check your pay from account statement in Online Banking if you have a question about when your funds were withdrawn.

As of 11:15PM EST, the funds showed Transaction date 01/09/2006 Post Date 01/10/2006 from the CC company which is exactly the same as the information my bank provided and EXACTLY the same day I scheduled the payment.

The payment I made was for sent on 01/06/2006 and deliver by 01/10/2006.

I did NOT pay last minute HOWEVER, had I scheduled the payment for the 10th and that was my due date, I would NOT have incurred a late fee.

With many other banks Ive used the system information is not as specific and the deliver by date was NOT when the payments were received and posted.

jmichaelp wrote:

Hi, earlier this year I had a lot going on & wanted to ensure that I wouldn’t be late on a particular payment when things were hectic. Although I would be giving up the grace period, I submitted a payment online just before the statement came out (8/22/05) & timed it so that it would clear my bank and pay exactly on the day the credit card statement dropped (8/23/05).

So, what I planned to have happen, actually worked - funds from my bank paid the credit card company on the exact due date. Unfortunately, the credit card company says that I date I submitted the online payment is the payment date, not the date they received money from my bank.

As far as I know, the credit card company’s bank has to present the “check” (in this case it’s electronic) to my bank before my Bank will pay it. My bank records don’t show the CC company’s bank being paid on 8/22 but on 8/23.

Although perhaps a lot of businesses allow customers to use float & everyone does so without thought or hesitation, it’s actually illegal! So, while my CC normally credits account holders when the promise to pay is made (on 8/22 in my case), they really shouldn’t & I don’t think they have a legal right to say that is when I paid them.

After I explained this to my CC company they gave me back my late fee, but started charging interest on my outstanding balance (this was about 3 months through a 1-year interest free period). After I realized this was happening, I complained & told them I wanted to settle this either legally or through arbitrage.

Thanks for any help!

Post subject:

maddybeagle wrote:

I doubt you have snowballs chance in H***. This is why they give 0% offers, people occasionally screw up. I would just pay off the card and move on with your life. I wouldnt threaten them with ridiculous legal action because they hold the marbles. Next time, monitor your bt’s a little closer.

I have to agree. Please hurry up and find something else before they REALLY screw you over by adding something in your credit report visible to all prospective creditors. Heck, just check your junk mail; you probably have offers you have ignored.

Author: maddybeagle

Post subject: chase eliminating cap on bt fees

Fat wallet mentioned that some folks are getting revised terms with no cap on bt fees starting with the 3/06 monthly statement. Anybody else get that or do you think it is targeting some consumers/cards? My MBNA card is like that and just use it for the epay and occasional purchase.

mouse

SENIOR MEMBER (Member for 2 yrs.+)

Joined: 29 Jul 2004

Posts: 1352

Posted: Tue Jan 10, 2006 12:33 am Post subject: Re: chase eliminating cap on bt fees

——————————————————————————–

maddybeagle wrote:

Fat wallet mentioned that some folks are getting revised terms with no cap on bt fees starting with the 3/06 monthly statement. Anybody else get that or do you think it is targeting some consumers/cards? My MBNA card is like that and just use it for the epay and occasional purchase.

MBNA started that

Most of their BT’s were $75 max

Back to top

Polonius

SENIOR MEMBER (Member for 2 yrs.+)

Joined: 19 Jan 2004

Posts: 1987

Posted: Tue Jan 10, 2006 12:49 am Post subject:

——————————————————————————–

Yes, I’ve gotten that change of terms on three Chase cards effective with the billing cycle that includes March 1. Remember, though, that these are changes to the standard terms. Nothing prevents the issuers from making special offers with capped fees or no fees…

_________________

Polonius

“Neither a borrower, nor a lender be; For loan oft loses both itself and friend”

Back to top

Board Monitor

Board Monitor/ Administrator

Joined: 05 May 2003

Posts: 2094

Posted: Tue Jan 10, 2006 8:31 am Post subject:

——————————————————————————–

Hmmm…not good news. If you’ve gotten this notice, please post here!

_________________

Best Regards,

Curtis Arnold

Board Monitor

http://www.cardratings.com

(501) 663-0314

Sign up for our free monthly e-mail newsletter!

Back to top

shooter

Credit Expert (100+ Posts)

Joined: 28 Oct 2005

Posts: 195

Posted: Tue Jan 10, 2006 11:19 am Post subject:

——————————————————————————–

Yep, got those terms last night. I was going to start a thread about it this morning but maddy beat me to it. I double checked my original terms to make sure there had been a cap when I applied. It was a $75 cap when I got the card. Oh well, as Polonius says we can still hope for special offers.

Author: Lyndzer Torte

Post subject: Is there an online form to check the status of a Citi CC app

I got the dreaded “we need more time to review” response when I applied online. It says I need to wait about 30 days for a mailed response! Is there a way to check on the status online or automated phone servive w/out calling them every day?

Post subject:

Lyndzer,

Greetings! Not aware of any. Would just call them every week or so. Good luck and let us know how things turn out…

_________________

Best Regards,

Curtis Arnold

Board Monitor

http://www.cardratings.com

(501) 663-0314

Post subject:

Citi is sooo fast! I also got the 7-10 message but my cards were in my mailbox in 5 days!!!!

You can just call their customer service #… tell them your checking on an application and they’ll put you thru to the right department.

Post subject: I applied for a Diamond Rewards card two weekends ago so I figure they got the app last Monday morning. Called and was told on Wednesday that app was approved but still haven’t seen the card. Today will be 8 business days I guess. They took almost a month when I got my first Citi account.

Author: Xstation

Post subject: Due date and Statment Date

I currently have $0 balance on my citi card.. My due date was Jan 9, The Next Statment Date is 1/19..

My question is if I buy anything between 1/9 and 1/18 will I be charged an interset rate?

Post subject:

As long as you have a credit card with a grace period , you wont be charged interest. Check your credit card Terms of Agreement, or call the number on the back of your card and ask.

Author: wouql

Post subject: CC app income question

I’m a college student graduating in May, and I’ve accepted a job offer with a nice salary. I’ll be working part time for them this semester and become full time in May.

I want to apply for a new credit card with a higher limit than the card I have now; it’s a BofA card, and I’m not eligible for a credit increase yet (the card is too new). My question is about that little box on all credit card applications that reads “Household Income”.

Am I allowed to list my salary once I start in May as my salary? I’ve called THREE credit card companies to ask this question, and they were all perfectly useless. All they would say was something completely unhelpful like they had a need for ‘accurate information’ - yeah, that’s why I’m calling you to ASK - or (my personal favorite) “income is income”.

As of today, there’s not much proof that my income/employer is accurate: if they call my employer’s phone #, they can confirm I work there hourly but not my salary, and my credit report doesn’t have any information about it.

Is anyone an expert in the application process and can tell me if putting my income once I start ($58k) is acceptable or fraudulent? The companies aren’t helping me any.

Thanks in advance.

Post subject: Re: CC app income question

wouql wrote:

I’m a college student graduating in May, and I’ve accepted a job offer with a nice salary. I’ll be working part time for them this semester and become full time in May.

I want to apply for a new credit card with a higher limit than the card I have now; it’s a BofA card, and I’m not eligible for a credit increase yet (the card is too new). My question is about that little box on all credit card applications that reads “Household Income”.

Am I allowed to list my salary once I start in May as my salary? I’ve called THREE credit card companies to ask this question, and they were all perfectly useless. All they would say was something completely unhelpful like they had a need for ‘accurate information’ - yeah, that’s why I’m calling you to ASK - or (my personal favorite) “income is income”.

As of today, there’s not much proof that my income/employer is accurate: if they call my employer’s phone #, they can confirm I work there hourly but not my salary, and my credit report doesn’t have any information about it.

Is anyone an expert in the application process and can tell me if putting my income once I start ($58k) is acceptable or fraudulent? The companies aren’t helping me any.

Thanks in advance.

H/H INCOME is of the day of the application

Including anybody that you live with like wife/husband, kids, sister, brother

Post subject: Income Requirements on a Credit Card Application

There was another thread about this recently. Few cards actually verify income. If you list your expected income (not saying you should!), then be sure to check the thread I’m referring to. Good luck and let us know how things turn out!

Out of curiosity, how did you find out about us?

_________________

Best Regards,

Curtis Arnold

Board Monitor

http://www.cardratings.com

(501) 663-0314

Author: JakeC

Post subject: Credit Line Increase Question

I would like to increase my line of credit with Amex. My question is if I request an increase of $3000 and they decline it, will they offer me an increase of a lower amount? Basically, will they tell me the max amount they will approve me for?

Thanks for the help.

Post subject:

If you are an amex user it would be wise to register your account/s online if you haven’t already. Once you are registered you can go to your online statement and from there you will find a link called “Request a Credit Increase”. After you click on the link it will ask for your 4 digit security number on your amex card. If you are pre- approved, a screen will pop up with the amount you are pre-approved for and it will ask you if you would like for this amount to be your new credit limit. If you are not pre-approved, a credit limit increase application will pop up. Most accounts in good standing are automatically approved for an increase after the end of each billing period. Keep in mind you must be using your amex and paying the bill on time or early in order for them to happy. Simply having an amex and not using it does not mean you have a good history with them and pre-qualify you for an increase once a month. My score ranges from 740-695, i use amex very frequently and i am always approved for an increase, yet my father has the same card with a 780-820 score and he rarely uses the card, only $100 here and there and he has yet to be pre- approved for an increase. Funny thing also, i use his address as my billing address and they send offers to me that they dont send to him. This is only my experience w/ Amex and may be different from some other people. I hope this sheds some light on your situation

Post subject: Credit Card Credit Line Increase

I asked for increases on all four of my Amex cards and was turned down on all of them a month ago. I’ve had some of those cards since 1983. I’m not sure why your experience with Amex and mine are so different. Maybe I already have too much credit!

Author: JakeC

Post subject:

Thanks BB. I was automatically approved online. My old line was 3000, now its 6000. To anyone who’s curious I have Blue for Students, have had the card 1.5 years and started with a line of 500. I’m not sure many people about know putting the 4 digit security # to see if you’re automatically approved.

Author: rennie1

Post subject: Free Credit Card Payments for 1 Year* upto $1200!!

Free Credit Card Payments for 1 Year* upto $1200 - “Neat, if they actually have these in stock - but

here goes - Participate to get credit card payments for 1 year upto $1200

at Credit Card Payments for 1 Year*:

icon12.freewebpage.org/i000029.html

anyone know of any online store that actually has these in stock?”

Post subject:

Requires completion of “fifteen offers” “some of which” require a payment.

SCAM.

Author: Ira

Post subject: Free Credit Card Payments?

There’s a zillion of these offers on the web. Free HomeDepot gift card, free restaurant card, etc. Problem is they’re as far from free as Mars. You always have to complete a slew of “sponsor offers,” most of which are overpriced useless stuff. Delete these “offers” as fast as you see them.

_________________

Do not let what you cannot do interfere with what you can do.

Post subject:

Problem is that you get sucked in if you investigate. Some of the early “offers” require no money. For example, you can start out with a simple marketing survey. Answer a few of those and you’re then asked to apply for a credit card or two or three. Fulfill those and the requirements get steeper. Before you get the $1200 rebate from your 15 offers, you’ll have committed yourself to paying more than that in fees of various sorts. If you stop without completing all 15 steps, YOU get nothing–but the firm gets commissions on your surveys, your credit card applications, and whatever you paid before you decided to give up. Often you can’t even get details of that $1200 offer until you’ve completed everything…and then there’s a catch…but it’s too late.

Author: Ira

Post subject:

Whenever I see one of these too good to be true “offers,” I click on the terms and conditions. If they say completion of sponsor offers required - and they almost always do - I simply delete the email.

Author: ajulius

Post subject: Stuck with .49 at 2 cycle after I took a low rate balance

Help! I got stuck with a .49 balance on a credit card with 2 cycle billing after transferring a 4.99% balance of which I thought I had paid in full. Unfortunately had I paid earlier by 4 days I would have had it wiped out.

Now the lower balance rate is paid down sooner so the .49 balance will continually escalate at a 2 cycle rate which increases .01 each month so it will be .48 and .49 average of, then .49 and .50 and higher and higher.

If I cant pay this down for lets say 6 years, what will be the total on the .49 balance owed? Will it get to a point where it will be higher than $10 over 6 years or will it stay at much less?

I had paid a $65 fee to keep this balance transfer and so on the $65 portion of which I had paid in full, so the $65 was eliminated from the higher rate. If I had another balance transfer rate to rival this, I would switch to another card, but I am NOT getting another 4.99% or lower with or without fee to transfer to (preferably without fee)

Help here would be greatly appreciated as to suggestions. Thanks. I had asked for a reduction in interest rate on the card and got it reduced to a 9.9% variable from a 12.24% variable rate. I assume I can just call every so often to ask for a lower rate on that and that is the best I can do to keep that portion down in interest till its paid off.

Post subject:

You’re really worried about 10% interest on 49 CENTS?

And you don’t know how to figure out how much that is going to be?

Well, if it’s compounded daily, you’ll owe about a buck in interest after ten years.

Post subject:

Wouldn’t worry about that amount. 50 bucks would be of concern, though. Double cycle billing is for the birds.

_________________

Best Regards,

Curtis Arnold

Board Monitor

http://www.cardratings.com

(501) 663-0314

Author: billbenoit

Post subject: Late fee based on posting date not due date

I have been paying credit card electronically from my bank (their card) and have incurred a late fee because they base the late fee on when your payment is posted to your account not when its received( Just changed to this method in the last two months and sent email to that effect). The bank said I should allow a couple of extra days beyond the delivery date for the post to take place so I don’t incurr the late fee.

My payment has been sent electronically and been posted in less that two days and it has been as many as six days. The longer times have meant the posted date was beyond the due date and a late fee charged. I have complained to the bank and filled out a complaint form with the state banking and finance bureau.

Any body else going by the post date ???

Is this proper???

Anxious to hear your thoughts

Post subject: Re: Late fee based on posting date not due date

billbenoit wrote:

I have been paying credit card electronically from my bank (their card) and have incurred a late fee because they base the late fee on when your payment is posted to your account not when its received( Just changed to this method in the last two months and sent email to that effect). The bank said I should allow a couple of extra days beyond the delivery date for the post to take place so I don’t incurr the late fee.

My payment has been sent electronically and been posted in less that two days and it has been as many as six days. The longer times have meant the posted date was beyond the due date and a late fee charged. I have complained to the bank and filled out a complaint form with the state banking and finance bureau.

Any body else going by the post date ???

Is this proper???

Anxious to hear your thoughts

Payment MUST post on the day of receipt or the next day

(unless it is a weekend or Holiday)

Post subject:Is Credit Card Fee Based on Due Date or Posting Date?

It’s up to the bank. As long as its rules are disclosed, I don’t think you have a case.

I wish mouse were right about this one. But he isn’t. I have some banks who say quite clearly in their terms that payment has to be received at a certain address with a certain payment slip by a certain time of day–that any other form of payment can have positng delayed up to five business days.

Author: credithelp

Post subject: Is Credit Card Fee Based on Due Date or Posting Date?

Depends on the bank and their policies. If you pay before 1 or 2 in the afternoon most banks seem to credit the account later that day.After the cutoff time its usually the next day unless it falls on a weekend or holiday.

Ive made a few phone payments to amex during late afternoon(around 4). They posted them the next morning but still gave the previous days date as the date of payment so that was a first for me. I’m sure if the payment was due the same day i made it they would have posted it the next day to get a late fee out of me but i still had 6 days before it was due so it wouldnt have been an issue anyways.

Author: hotburnttoast

Post subject: Need some help from you all, Please help me out

Okay here is my dilema, I will list my postive accounts, these have never been paid late. My question is listed at the end of this long post.

Total Visa, open 2 years started with 200.00 now 600.00 paid on time/never late

Orchard Bank open 14 months, 250.00 limit now 700.00 paid on time never late

Household Gold open 12 months, 350.00 limit now 750.00 paid on time never late

Merrick bank open 2 months 750.00 limit, paid never late

Target Store card open 12 months 200.00, now 600.00 never late

Infiniti Lease for 40,000 open 9 months, payment 635.00 never late

VW Lease for 25,000 open 14 months payment 489.00 never late

Old stuff negative stuff

Cross Country Bank, which has opened IN FRAUD, which I can not get removed, this is so old it is about to drop off later this year

A collection agency for cross country bank 1145.00

Direct TV Collections, which was just reported to my CR, it states it is from the year 2000, never had direct tv, fighting with them, it says I have 2 seperate accounts. Can they place that on my CR’s after being so old, it just showed up last month

All the other collections are over 3 years old and are all paid off, there were like 8 of them, they are so old they will start dropping of this year, so my long winded question is should I try to apply for a MAJOR Credit Card, like AMEX, CHASE, DISCOVER, ETC. I am tired of paying these high interest rates, I normally charge about 200.00 on each and try to pay them all off each month, if I don’t I will usally pay triple there minimum payment. All my Scores are in the 600’s, 650 and below. Any advice will help

Post subject:

Yes you absolutely should apply seeing as the worst that could happen is you get denied!

Post subject: inquiries

I forgot to mention I have numerous inquries as well on my CR’s which will start dropping off, am I better off waiting till the negatives drop off before I apply, also I am moving in april to a new apartment, and i don’t want the negatives to affect my approval process, Any thoughts from you all would be helpfull

Post subject:

ah. I guess with your upcoming apartment hunting you do need to worry about your credit score. You are hunting, right? As in you haven’t yet been approved? Because if you have been approved already, you don’t have to worry; they generally won’t check your credit again.

I’m not sure what landlords look for in a credit score / report. You haven’t stiffed a landlord in the past, have you? Hopefully someone can provide a little more insight. You may have to wait till you’re in your new place before you start more applications (the credit pull for the application is apparently what causes the small drop in credit score, NOT an approval or denial).

Author: ajulius

Post subject: Can I do better than 4.99% good till paid for BT?

Hi. I currently have a balance at around 17k on one CC, and a maxed out 5k on another which is still in the balance transfer that I will pay in full after the balance is done.

I was wondering if it would be possible to get a lower BT rate good till paid than 4.99% and what is the best way for me to get such. I have been paying the minimum payment on both cards. I have a long credit history and 0 late payments.

I did a FICO approximator and if I paid back the 2nd card the score would be like 665 to 715 FICO. Without such its like 15 points less I guess.

With the multiple cards I have which are used and paid in full where I utilize them with low amounts, I dont seem to be getting any decent BT offers.

One was 6.99% which was changed to my regular rate of 8.99% on the card. Another was 1.99% till Feb 2006 and its now Jan 2006 which makes no sense whatsoever. And I ferget what the other is but that also didnt make any sense.

I need a high limit to transfer to and when I apply for new cards due to the min payment being payed I guess or due to the fact they dont want to extend much for 0%, the limits are too low.

Any suggestions would be appreciative.

Post subject:

I have 2 cards right now with 3.99% on the life of the loan. I think others here have reported lower. You could just call up and ask what you want. Others have used the discover card 0% for life with the 2 purchases per month. I might try that one this year. I am not sure if there is a rhyme or reason for the bt offers. I think it is more cycled since I have seen different ones come and go. Others have reported different offers on different cards from the same issuer.

Post subject:

If this offer have no BT fee , 4.99% APR is ok.

Try and call to credit card customer service , and request to increase your credit limit and/or lowering your BT rate.

Post subject: bt

Actually it had a $65 fee which I paid upfront. I took it because I could not get any better offers at the time and $65 on the 17k balance transfer compared to the much higher rates I was paying made huge sense.

The problem is the card companies wont give me a higher credit limit so I couldnt even ask them for a lower balance transfer rate. I asked them for a credit increase and they denied claiming I needed the account open for 9 months.

I only have one card with a higher limit to transfer to but they wont give me any good deal on that one as it is currently a 1.99% short term till feb 2006. I did have a higher rate at one point and they knocked my regular interest rate down even though I transferred the balance from that card because it was at a much higher rate.

Any suggestions?

One card is 20k limit 17k used 4.99% good till paid (2% minimum payment which is a must have right now or lower) paying minimum payment

One card is a 10k limit, pay off in full what i use

One card is a 29,900 limit, pay off in full what i use

One card is an 18,400 limit, pay off in full what i use

One card is a 5000 limit, 4800 used paying minimum payment, can repay in full anytime

One card is a 3600 limit, current offering is 0% for 12 months, have not taken them up on it since it doesnt pay for me right now

The last 2 cards received were for 5000 and 3600. Requested higher limits on both, were told no on both and I have to wait for another 9 months.

I would love to move the 17k onto the 29900 card because it will be a lower utilization rate but the transfer rate is horrendous.

Author: sterilite

Post subject: How many is too much?

How many credit card consider as too much and not good for credit reviews? Mind to share a little bit about the number of cards u have and the total limit?

Author: QikPass

Post subject:

How much is too much depends on what your can effectively manage without undue stress to yourself. Some people use 1 card, some people have 66. Maybe they have 63 of those in a sock drawer and just utilize 3 at a time. Dosent really matter. As long as you pay you bills on time and manage them effectively, get what your are comfortable with.

I myself only have 5 cards. I only use 2 of them, the rest are sock drawered. They are as follows.

Chase MC - $1000

Capital One Plat (?) - $1000

Chase PerfectCard - $2500

Charles Schwab - $3000

AMEX Blue Cash - $8000

Keep in mind I’ve only had credit for 20 months.

Author: Ira

Post subject: Is There Such a Thing as Too Many Credit Cards

There’s no answer to the question. It’s like asking which is the best car to buy, or what’s the best restaurant, or the best company to work for. It depends on the individual. I happen to rotate a number of rewards cards. I use the card which gives the most bang for the buck. For me it works. Others don’t like to or simply can’t manage that many cards. Many people simply don’t have the credit history to obtain more than a few cards.

Post subject: Is There Such a Thing as Too Many Credit Cards

$400,000+

Have had as many as 40 at one time

Now about 10-15 at higher limits

Post subject:

Until this topic, I never really looked at them all quite like this…

Discover Gasoline 1999 $11000

SouthTrust Plat+ Visa 1999 $11600

Chase Visa 1999 $2500

Sears/Citi MC 2002 $4125

AmEx Blue 2004 $4000

GM Card MC 2004 $9500

Providian Visa 2005 $10000

First National Bank of Omaha Visa 2005 $9500

AAA Visa 2005 $2500

Citi Dividend MC 2005 $5400

10 @ $70125

3 in the sock drawer and 2 more rarely used.

This is the most I’ve ever had and since I got rid of my Crap1 I’m pretty happy with the assortment, although I’m always looking for next one

Author: arobuofm22

Post subject: BT Question

I’ve carried a balance on current card for about 8 years with a high int rate (out of laziness). I am now going to transfer to a lower rate card. My current balance is around $6800 and my limit is $11650. My questions are these.

1. Should I transfer say, $6700 of the balance to a new card and leave the old one open with $100, paying it off the next month after transfer is complete? For credit score purposes, I would like to keep a high avialable credit amount. My fear is that I transfer to a new card the $6800 amount and get a card with a limit of $7000.

2. Any suggestions on cards? I have no problem being dilligent and timely with payments. I tried AMEX Blue and was denied (the section of the site that was supposed to explain why was “down”.

I have been reading these posts for a few hours now and look forward to your responses.

Post subject:

I dont follow why you would keep 100 bucks on the old card. transfer the entire balance to a new card with a lower rate if you can and keep the old card open.

Post subject:

I apologize, as I’ve never done a transfer. I thought that the transfer would close the other card. I should have known better to think that a cc company would close the card, giving it no chance for further use.

Any suggestions for cards?

Post subject: Should a Credit Card Be Closed After Balance Transfer

no it doesnt close the card. I would look at the card reports section. I have cards with several different issuers, it all depends on what you want.

Author: DWH

Post subject: how long does Chase take in the mail

I applied last Thursday for the Chase 5% Visa card. How long does it usually take to approve me and get my stuff in the mail

Post subject: Re: how long does Chase take in the mail

DWH wrote:

I applied last Thursday for the Chase 5% Visa card. How long does it usually take to approve me and get my stuff in teh mail

have excellent credit

Took me three weeks to get a Chase card I applied for this November…

_________________

Polonius

“Neither a borrower, nor a lender be; For loan oft loses both itself and friend”

Post subject:

I just applied for the 3% back business card. I applied on Monday and got a letter saying the card was on its way yesterday (Thursday). Hopefully it will get here soon enough. Funny enough, they sent me junk mail for the exact same card I applied for yesterday too!

Author: angie7797

Post subject: New to Credit Cards and Needing Advise

Hello all! I am 29 years old and have never owned a credit card. I have never needed to own one(strictly debit cards!) With my increased usage of ebay, I can see that I definatly need one. I recently got taken by paypal with several purchases that I made. It is my understanding that I am 100% secured with a credit card purchase over ebay. If the seller doesn’t send my item, I can file a chargeback. Is this correct? I would pay my credit card bill fully every month. Is there any intrest fees if I pay it in full? Are there any hidden fees? What if I go a month or 2 without using it? Are there any hidden fees there? As you can see, I know nothing about the credit card world! I have seen too many people get destroyed by using their credit cards and just getting carried away. But it’s either get a credit card or stop my ebay business. Any advise would be greatly appreciated! Oh, also, does a credit card secure my transactions that are made out of state(over the internet?) I have tried reading the fine writing on credit card applications, but it’s easy to get lost in it all. Thank you for taking the time to read my post. And thank you to anyone who can lend me a bit of advise. Angie

Post subject:

Angie,

As long as you pay in full balance in time, most of the credit cards could not give you any trouble. But always read small print at the bottom/back of offer.

I think Citibank credit cards are good to starters as long as you will not be late in payment. I got mine started with them.

But, be careful about payments by credit cards via paypal. They did not gurantee 100% retrieval with credit card payments. But 100% recover if you use checking account. Few months ago, I bought an item of $500 value via ebay paid with credit card; seller never send item; I contacted paypal; they can recover only about $200 dollars. Always check seller’s good feedback history before you buy. Pretty safe and good fun as long as you take precaution.

Post subject: Credit Cards on Ebay

Angie,

Greetings and welcome to the board! Chargeback privileges and 100% fraud protection are big benefits of most cards. I have heard of problems using Paypal- what exactly happened if you don’t mind sharing.

Also, out of curiosity, where is Jamestown, TN? Took the wife and kids to Gatlinburg over the holidays and loved it.

_________________

Best Regards,

Curtis Arnold

Board Monitor

http://www.cardratings.com

(501) 663-0314

Author: newyearsday1985

Post subject: What is it that makes you apply for a personal AMEX card?

AMEX Blue Cash rewards is not as generous as Citi Dividend and Chase Cash Plus rewards.

AMEX Blue gives 1% in points on all purchases. There are many visa/mc out there that give 1%.

AMEX is not as widely accepted as MC/Visa.

AMEX airline cards have annual fees and give 1 mile reward to the dollar. There are many airline cards out there that don’t have annual fees and give 1 mile to the dollar.

AMEX APR’s are nothing special.

I have an AMEX Blue (which I applied for 3 months ago) which I only use at Costco as AMEX is the only credit card Costco accepts. I got a pre-approved offer that included $50 gift card so it was another reason for me to apply. Besides usage in Costco, my AMEX blue is no better than any of my MC/Visas so I choose not to use my AMEX blue elsewhere.

I see so many ppl here using AMEX… what is it that makes you choose to use AMEX personal cards?

_________________

I hate it when I buy something and find out that the price is going for less soon afterwards

Post subject:

Good customer service, generous credit limits, wide acceptance abroad (including travelers’ checks), no fee balance transfers–and history: for a long time, AmEx was the only firm offering a reward program. Now, what you say is true–but this sort of competition is fairly recent. (I got my first AmEx card back in 1983–it was a Gold card with rewards…)

Post subject:

‘83- Wow! That trumps Discover Card, which was introduced in 1986 I believe. What kind of annual fee did you pay back then?

_________________

Best Regards,

Curtis Arnold

Board Monitor

http://www.cardratings.com

(501) 663-0314

Author: sterilite

Post subject: Application info

Lots and lots of people apply for credit cards everyday. Some apply with correct info, some with incorrect info (like employment, salary, etc). How do the credit card companies know which one is validate?

_________________

Post subject:

What happens is that if you’ve lied on your credit application and no credit has been granted, you’re blacklisted, reported to the IRS and the FBI for a fraudulent applicaiton for credit (which is a Federal crime, after all), and you burn in ***** forever. If credit has been granted before that’s discovered, a call is placed to, um, another place, and someone shows up at your home or business to collect the money or break your legs–your choice. There are follow-ups.

Now the serious answer. Usually there’s no check of anything on your application as far as income or employment goes, especially if you’re applying for a small amount of credit. For larger credit requests, you may get requests for tax statements, brokerage statements, and your stated employer may be called for verification. For some people, that never happens; for others, it seems to happen often. And it is certainly happening more these days than it used to happen. Plus even if you pass the initial screening, there are generally annual or more often reviews of your overall credit file by each creditor, and anything out of the ordinary may prompt a call from a credit analyst asking all sorts of nosy questions.

Which of course you are free to answer or not answer as you choose.

Again, seriously, it is a federal crime to make false statements to a bank as part of a credit application. Will anyone prosecute you if you’re caught? Probably not.

But there will be a note made on your PERMANENT RECORD and you know how that follows you the rest of your life. I still can’t get a job because I threw a spitball at Mrs. Hudson when I was in the third grade. I’m almost sixty now, but that still prevents me from being hired. Those darn computers!

_________________

Polonius

“Neither a borrower, nor a lender be; For loan oft loses both itself and friend”

Post subject:

Polonius, you should get Mrs. Hudson to write a letter stating that whatever was thrown was below the minimum size required for clasification as a “spitball,” and therefore all notations to the contrary should be expunged from your permanent school record. At long last this will allow you to graduate and mabe get a real job.

Author: beyond platinum

Post subject: Should teens have credit cards or should we go younger??

Lately I have been noticing a lot of teenagers with credit cards these days even before they reach the age of 18. I always thought that getting your first credit card was the right of passage into adulthood so why not start younger.

Perhaps we could issue credit cards to children at age 7 by adding them as authorized users to the parent’s accounts. After all the law says that this is the age of reasoning so why not. And when the child exhibits bad consumer behavior, parents could impose discipline or perhaps corporal punishment. For example; if a child makes a late payment the parents could spank them, and if they go over their credit limit, they could be grounded for three months or kids could get a lecture whenever they go on a spending spree at Toys R Us. But when they are good ‘child patrons’ parents could reward them with an allowance to pay down their credit card balances.

But on a more serious note I agree with the idea of teens having credit cards as long as the parents are in control of the account. I think that pre-paid cards are the best option in this case and it is a chance for responsible parents to edify their children about being conscientious cardholders.

I want to see your thoughts on this one.

_________________

“Believe not everything, but only what is approved: the former is foolish, the latter the act of a sensible man.” –Democritus

Post subject:

Interesting topic. I support the prepaid route as well…Visa Buxx is a good example. Sort of like a credit card on training wheels.

_________________

Best Regards,

Curtis Arnold

Board Monitor

http://www.cardratings.com

(501) 663-0314

Post subject:

I think children should be treated like anyone else regarding credit. Some can handle it responsibly, some can’t. Those who can should be able to get a credit card, regardless of age; those can’t, shouldn’t–regardless of age (7 to 70). Naturally, for youngsters, the parents have to be responsible legally, so the decision is up to them. I agree that a card with spending limits is the best approach, but I don’t think prepaid or not prepaid makes a difference IF the child is responsible. If the child isn’t resonsible, a prepaid card protects the parents…but doesn’t really teach the child anything different than cash would. The key is to make the child borrow money and pay it back. That’s what credit is all about.

Author: harish

Post subject: Chase - ipod nano

Hi all

I had earlier applied for a chase mastercard which came along with an enticing offer for an ipod nano if I manage to spend 300$ within 6 months. I did that in less than 2 days (college tuition). I did recieve my ipod voucher which I faithfully signed and returned immediately. However even after 2 months I have yet to have the ipod. I tried calling the customer service only to have the reply that it is the holidays and it will be in the mail soon.

Does any one else have a different experience.

Author: krazysurfer

Post subject: AMEX ONLINE OPTIONS …..quick question…………….

I was just wondering if i can request a pin from my online account. Because im at work and can be making long calls. I dont think i saw the option but then again im not too good with finding these things. Does anyone know and tell where i can find it on there website.. Thanks!!

Post subject:

also if it helps .. i have a delta skymiles amex card.

Post subject:

I don’t think u can request pin from any online site. According to them, it is for security purposes. Call them after work.

Author: berky

Post subject: Consolidating Credit Cards

I was unemployed for 10 months and ran up very high credit card bills, and of course was unable to pay them. The Credit Card companies increased my APR dramatically. However, now I am employed and want to start paying them back at a slow rate, but can not afford the HIGH monthly minimum amount they want. My question is: Can you make a deal with them at a normal APR and a lower rate so I can pay them off. It’s OK that they close the account, I just can not afford to keep giving them money at 29.99 percent APR. Can you advise?

Post subject:

Hi,

Call to the credit card company first and ask if they can lower your APR% , verify also if your account isn’t defaulted , it seems that based of this rate your account is defaulted.

Did you check your credit score? If you credit score is not damaged at all , consider to apply for a credit union credit card to transfer the balance. Or apply for an installment loan(credit union are the best) to tranfer the balance too.

Author: joemack

Post subject: NEED HELP Choose the Right Card for a Small Business

I own a small landscape business. In year 2005, I spent around $70,000.00 paying with credit cards and bank debit cards and recieved no rebates. These charges were for materials and misc. I spent over $7,000.00 on gas! I split these cost because I noticed some offers have different rebate rates for items. The offers are confusing and I don’t know about a lot of them. I am not sure what card is best. Should I split the card for gas and other expenses? Once I get new credit cards I would like to stay with the credit card company long term and not be changing things around due to simplicity of accounting and tracking. Also, for the gas card, I would like to be able to make sure that a employee didn’t fill up his car with the card. I have seen where people enter thier milage into the pay at the pump and could make sure that way? Also, I pay off the ballance on time every statement. I am leaning towards cash back but have also considered GMC rebate card where they give you money off a new vehicle. Any advice is appreciated.

Thanks in advance

Author: Board Monitor

Post subject:

Advanta has a pretty good card that gives your enhanced rebates on gas purchases. You can comparison shop for the best small biz card here:

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

Good luck and let us know how things turn out!

_________________

Best Regards,

Curtis Arnold

Board Monitor

http://www.cardratings.com

(501) 663-0314

Author: gillahoon

Post subject: amex

i see everone talking about his card i got a score of around 600 would i get it or dont even try i dont need the iqur if i cant get it

Post subject:

What Amex card are you looking at? Amex offers a lot of different types of cards and has different requirements depending on what card you want.

Post subject: Re: amex

gillahoon wrote:

i see everone talkking about his card i got a score of around 600 would i get it or dont even try i dont need the iqur if i cant get it

With that type of score I would say that you have very little chance of getting any AmEx Card. Shoot for 720…at least 700. Good luck and keep us updated on your progress!

_________________

Best Regards,

Curtis Arnold

Board Monitor

http://www.cardratings.com

(501) 663-0314

Post subject: Green

If I were you, I would try for the AMEX Green first. I started with AMEX from the ground floor so to speak and once you get your foot in the door and pay on time as agreed you shouldn’t have any problems getting other cards. I would apply for the Green card first and see how that works out

Post subject:

Amex likes scores to be in the 700’s but they will approve in the 600’s if your reports look good overall. The green charge seems easiest to get and will serve a purpose of building a good relationship with them so you can eventually get better cards(and lines).

Author: jlrdc909

Post subject: Will the real Diners Club please stand up

I saw posts some months back that said the Diners Club Card is now bearing the Mastercard logo.

I had Diners Club many years ago, and AMEX as well.

I got rid of them for 2 reasons, the fee’s and limited acceptance.

Diners had better service but was less accepted.

I went to dinner with a friend the other day who has had the Diners Club, he has had this card for 25+ years, and claims the annual fee is worth it.

Had Diners Club teamed with Mastercard due to declining membership? Very few people have Diners Club, at one time it was the official charge card of the US Government, also, when I had it I had to apply, has anyone ever had a pre-approved letter from Diners?

Post subject: Re: Will the real Diners Club please stand up

jlrdc909 wrote:

I saw posts some months back that said the Diners Club Card is now bearing the Mastercard logo.

I had Diners Club many years ago, and AMEX as well.

I got rid of them for 2 reasons, the fee’s and limited acceptance.

Diners had better service but was less accepted.

I went to dinner with a friend the other day who has had the Diners Club, he has had this card for 25+ years, and claims the annual fee is worth it.

Had Diners Club teamed with Mastercard due to declining membership? Very few people have Diners Club, at one time it was the official charge card of the US Government, also, when I had it I had to apply, has anyone ever had a pre-approved letter from Diners?

http://www.dinersclubus.com/dce_content/home

CITIBANK

DINERS CLUB CARD WAS VERY LIMITED ACCEPTANCE…M/C IS ACCEPTED IN MILLIONS OF PLACES WORLD WIDE!!!

Post subject:

From what I’ve heard, they’ve only gone to Mastercard in the US. I was just in Finland, and I saw many adverts for Diner’s Club cards (without the Mastercard logo). I know a Finnish guy who has one. I guess they’re more popular overseas.

I’ve read several accounts of people who swear by their Diner’s Club. Never had one myself though.

Post subject: Diners Club Mastercard Credit Card Review

I just recieved my diners, now that it has the mastercard logo it is accepted everywhere mastercard is accepted. Haven’t had any problems using the card and the benefits seem to be pretty nice