Best Credit Card Offer
Author: Marie
Guest
Posted: Thu Apr 22, 2004 3:38 am
Post subject: MBNA world points card right for me?
MBNA sent me pre-approved offer with 5.9% fixed APR( Not an intro offer) on purchases and World Ponits rewards. Will it be worth to accept that offer? I have too many new accounts already and I am not sure is this card right for me.
Thank you.
View our latest credit card ratings!
Author: Guest
Posted: Thu Apr 22, 2004 12:22 pm
Go gor it. Just explain all the new accounts to the credit specialist when you call. It should be OK. BTW, why all the new accounts?
View our latest credit card ratings!
Author: Eugene
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 14 May 2003
Posts: 265
Location: Brooklyn, NY
Posted: Thu Apr 22, 2004 2:37 pm
Post subject: Re: MBNA world points card right for me?
Marie wrote:
Will it be worth to accept that offer?
Too little information to answer. How do you use your cards? Do you carry a balance? What other cards do you have, and with what terms? Tell us your life's story, and then we will be able to give you an educated answer. If you want just a short answer, then I'll say this: if you don't know IF you need a card and WHY, then you DON'T need it!
View our latest credit card ratings!
Author: Guest
Posted: Thu Apr 22, 2004 5:13 pm
Get this card. I have one too. If you don't get it, you will regret it. The best card I have ever had.
View our latest credit card ratings!
Author: Stephanie
Guest
Posted: Sat May 01, 2004 11:11 am
Post subject: Avoid this one!
Hi there!~ Do NOT go with this one! I would strongly discourage you from getting involved with MBNA's credit cards. My husband and I each have a credit card with MBNA and dealing with them has been a nightmare that has not ended!!! The interest rate may sound fine now, but trust me it won't stay that way for long. MBNA has soaked us for 25% interest for years - and if you mail them a payment, watch out. It'll sit on someone's desk long enough to issue a late fee of $35. I've had it happen where I've sent the payment a week early and was issued a late fee - stating that the payment was one day late. Be very way of the credit limit that they give you. They allow HUGE credit limits that are guaranteed to get you into debt and keep you there. Our goal right now is to get rid of debt. Even after making payments monthly and having not used the cards in 2 years the interest and fees were exploding out of control, maxing out that huge credit limit and drowning us in debt. Also, MBNA refuses to work with any settlement companies either. They play hardball and will due whatever it takes to hold out for the full amount. We found ourselves in one of the most awful financial situations due to our dealings with MBNA. I would never, ever recommend getting a credit card from them. I've heard they are one of the toughest creditors around. If for whatever reason you miss a payment or don't pay at least the minimum (which was impossible for us due to the exploding balances/fees) they will call you 3 times a week. Even when we made payment arrangements with them, sending them hundreds of dollars a month, they still constantly called wanting more money. Fortunately for us, we have finally been able to make good payment arrangements with MBNA. We and they had no choice. Our account got so out of control that even they didn't know what to do with it! Finally something was worked out, and they were really amicable when I explained what happened. The unfortunate thing is, now we have all this debt and probably really only used 1/3 of our credit limit for actual purchases, over 2 years ago, and will be paying on this account for a VERY long time. If you can't afford to pay off your balance IN FULL each month, I would strongly advise against you getting this card. I know the 'perks' sound appealing, but I signed on with MBNA 6 years ago b/c a percentage went to the US Humane Society and I love animals. Well, that program is long gone. I would never again sign on with a card b/c I liked the miles or how the card looked or that they gave a donation to a certain cause. B/c of that, we're in debt up to our eyeballs. We have not used the cards in several years and I don't miss the credit at all but when I saw your post, I felt I needed to let you know what you could be getting yourself into.
View our latest credit card ratings!
Author: Stephanie
Guest
Posted: Sat May 01, 2004 11:35 am
Post subject: Why so many accounts?
By the way, I also think you answered your own question about getting an additional credit card. The fact that you used the phrase 'too many already' should let you know you're asking for trouble! I don't know how old you are, but I think 2 credit cards are sufficient to keep your credit good and avoid potential financial ruin. Any more than that and you could find yourself in an extremely unfortunate situation.
View our latest credit card ratings!
Author: Guest
Posted: Sat May 01, 2004 4:36 pm
GET REAL!!! I HAVE 15 CARDS IN MY POSSESSION! YOU "NEED" TO HAVE BACKUPS......ALWAYS. It is not valid to assume that increased # of cards dooms you to financial ruin. There is simply no basis in fact for this.
View our latest credit card ratings!
Author: Polonius
Credit Expert (100+ Posts)
Joined: 19 Jan 2004
Posts: 340
Posted: Sat May 01, 2004 6:02 pm
By getting and keeping additional cards, you can avoid the sort of situation Stephanie describes. Stephanie, if you had another card, you could balance transfer your MBNA debt to it and stop paying that 25% rate. I agree that lower rates are a come-on and usually don't last long--but why not use them while you've got them, and then switch to another card when they end? Plus if you made your payments online through any of the regular billpay services, you will never be charged a late fee unless you really ARE late. Most billpay services will send payments electronically, so you KNOW they'll be credited wihtin three business days. Sample: this week I asked CapitalOne to balance transfer money to one of my Chase accounts. I made the request online Monday; the transfer was made Tuesday; it shows up in my Chase account with a posting date of Wednesday. You have to learn how to play this game....
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
View our latest credit card ratings!
Author: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 19 May 2003
Posts: 715
Location: NJ
Posted: Sun May 02, 2004 12:31 pm
Stephanie: I agree with you - that's exactly what you think! However, you think wrong. I have numerous credit cards and use each one for a precise reason. I also pay off my entire balance on every card within the grace period. I never rent money. Examples: AAA Financial gives me a 5% rebate on all of my gas purchases. What with the soaring price of gas and my need to drive close to 40,000 miles per year, this is very significant. However, there is no advantage to using this card for any other purpose. I have various and sundry other cards which offer rebates on specific types of purchases. I match the purchase to the card to achieve the maximum available rebate. Let's talk about 0% introductory balance transfer rates. I LOVE these! I apply for as many of these cards as I can. When I get a card I transfer close to the limit (but NOT the limit) to an interest bearing account, pay the minimum each month until the intro rate expires, and then withdraw the remaining principal from the interest bearing account and pay off the balance. The interest is mine to keep. It's callled using OPM (other people's money) to make money. I currently have over $35,000.00 worth ofr OPM working for me. I'll make close to $1,000.00 this year with this trick. Bottom line is don't make rash statements about what other people should or should not do until you have all, and I mean ALL the facts at hand.
View our latest credit card ratings!
Author: mouse
Guest
Posted: Sun May 02, 2004 1:48 pm
Post subject: Re: Why so many accounts?
Stephanie wrote:
By the way, I also think you answered your own question about getting an additional credit card. The fact that you used the phrase 'too many already' should let you know you're asking for trouble! I don't know how old you are, but I think 2 credit cards are sufficient to keep your credit good and avoid potential financial ruin. Any more than that and you could find yourself in an extremely unfortunate situation.
2 IS WRONG ANSWER
View our latest credit card ratings!
Author: meto
Credit Expert (100+ Posts)
Joined: 21 Mar 2004
Posts: 209
Posted: Sun May 02, 2004 7:15 pm
Post subject: Re: Why so many accounts?
By GEORGE I think you're right.
mouse wrote:
Stephanie wrote:
By the way, I also think you answered your own question about getting an additional credit card. The fact that you used the phrase 'too many already' should let you know you're asking for trouble! I don't know how old you are, but I think 2 credit cards are sufficient to keep your credit good and avoid potential financial ruin. Any more than that and you could find yourself in an extremely unfortunate situation.
2 IS WRONG ANSWER
me
View our latest credit card ratings!
Author: mouse
Guest
Posted: Sun May 02, 2004 9:51 pm
Post subject: Re: Why so many accounts?
meto wrote:
By GEORGE I think you're right.
mouse wrote:
Stephanie wrote:
By the way, I also think you answered your own question about getting an additional credit card. The fact that you used the phrase 'too many already' should let you know you're asking for trouble! I don't know how old you are, but I think 2 credit cards are sufficient to keep your credit good and avoid potential financial ruin. Any more than that and you could find yourself in an extremely unfortunate situation.2 IS WRONG ANSWER
59 could be the RIGHT answer
View our latest credit card ratings!
Author: Reality Joe
Guest
Posted: Wed May 05, 2004 2:25 pm
Post subject: Get Real
"I HAVE 15 CARDS IN MY POSSESSION! YOU "NEED" TO HAVE BACKUPS......ALWAYS." What may be good for you isn't good for the majority of people in this country who currently owe hundreds of billions of high interest rate debt. And the same for the poster who made $1000 last year playing the credit card "pea shell" game. Most people don't have time to shuffle cards as you have done. And do it timely and accurately! And obviously, most people don't pay off their balance each month. Credit cards are great for travel and emergencies, but a lot of people in this country treat them like a new found source of income. And that is where the trouble lies.
View our latest credit card ratings!
Guest
Posted: Thu Apr 22, 2004 3:38 am
Post subject: MBNA world points card right for me?
MBNA sent me pre-approved offer with 5.9% fixed APR( Not an intro offer) on purchases and World Ponits rewards. Will it be worth to accept that offer? I have too many new accounts already and I am not sure is this card right for me.
Thank you.
View our latest credit card ratings!
Author: Guest
Posted: Thu Apr 22, 2004 12:22 pm
Go gor it. Just explain all the new accounts to the credit specialist when you call. It should be OK. BTW, why all the new accounts?
View our latest credit card ratings!
Author: Eugene
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 14 May 2003
Posts: 265
Location: Brooklyn, NY
Posted: Thu Apr 22, 2004 2:37 pm
Post subject: Re: MBNA world points card right for me?
Marie wrote:
Will it be worth to accept that offer?
Too little information to answer. How do you use your cards? Do you carry a balance? What other cards do you have, and with what terms? Tell us your life's story, and then we will be able to give you an educated answer. If you want just a short answer, then I'll say this: if you don't know IF you need a card and WHY, then you DON'T need it!
View our latest credit card ratings!
Author: Guest
Posted: Thu Apr 22, 2004 5:13 pm
Get this card. I have one too. If you don't get it, you will regret it. The best card I have ever had.
View our latest credit card ratings!
Author: Stephanie
Guest
Posted: Sat May 01, 2004 11:11 am
Post subject: Avoid this one!
Hi there!~ Do NOT go with this one! I would strongly discourage you from getting involved with MBNA's credit cards. My husband and I each have a credit card with MBNA and dealing with them has been a nightmare that has not ended!!! The interest rate may sound fine now, but trust me it won't stay that way for long. MBNA has soaked us for 25% interest for years - and if you mail them a payment, watch out. It'll sit on someone's desk long enough to issue a late fee of $35. I've had it happen where I've sent the payment a week early and was issued a late fee - stating that the payment was one day late. Be very way of the credit limit that they give you. They allow HUGE credit limits that are guaranteed to get you into debt and keep you there. Our goal right now is to get rid of debt. Even after making payments monthly and having not used the cards in 2 years the interest and fees were exploding out of control, maxing out that huge credit limit and drowning us in debt. Also, MBNA refuses to work with any settlement companies either. They play hardball and will due whatever it takes to hold out for the full amount. We found ourselves in one of the most awful financial situations due to our dealings with MBNA. I would never, ever recommend getting a credit card from them. I've heard they are one of the toughest creditors around. If for whatever reason you miss a payment or don't pay at least the minimum (which was impossible for us due to the exploding balances/fees) they will call you 3 times a week. Even when we made payment arrangements with them, sending them hundreds of dollars a month, they still constantly called wanting more money. Fortunately for us, we have finally been able to make good payment arrangements with MBNA. We and they had no choice. Our account got so out of control that even they didn't know what to do with it! Finally something was worked out, and they were really amicable when I explained what happened. The unfortunate thing is, now we have all this debt and probably really only used 1/3 of our credit limit for actual purchases, over 2 years ago, and will be paying on this account for a VERY long time. If you can't afford to pay off your balance IN FULL each month, I would strongly advise against you getting this card. I know the 'perks' sound appealing, but I signed on with MBNA 6 years ago b/c a percentage went to the US Humane Society and I love animals. Well, that program is long gone. I would never again sign on with a card b/c I liked the miles or how the card looked or that they gave a donation to a certain cause. B/c of that, we're in debt up to our eyeballs. We have not used the cards in several years and I don't miss the credit at all but when I saw your post, I felt I needed to let you know what you could be getting yourself into.
View our latest credit card ratings!
Author: Stephanie
Guest
Posted: Sat May 01, 2004 11:35 am
Post subject: Why so many accounts?
By the way, I also think you answered your own question about getting an additional credit card. The fact that you used the phrase 'too many already' should let you know you're asking for trouble! I don't know how old you are, but I think 2 credit cards are sufficient to keep your credit good and avoid potential financial ruin. Any more than that and you could find yourself in an extremely unfortunate situation.
View our latest credit card ratings!
Author: Guest
Posted: Sat May 01, 2004 4:36 pm
GET REAL!!! I HAVE 15 CARDS IN MY POSSESSION! YOU "NEED" TO HAVE BACKUPS......ALWAYS. It is not valid to assume that increased # of cards dooms you to financial ruin. There is simply no basis in fact for this.
View our latest credit card ratings!
Author: Polonius
Credit Expert (100+ Posts)
Joined: 19 Jan 2004
Posts: 340
Posted: Sat May 01, 2004 6:02 pm
By getting and keeping additional cards, you can avoid the sort of situation Stephanie describes. Stephanie, if you had another card, you could balance transfer your MBNA debt to it and stop paying that 25% rate. I agree that lower rates are a come-on and usually don't last long--but why not use them while you've got them, and then switch to another card when they end? Plus if you made your payments online through any of the regular billpay services, you will never be charged a late fee unless you really ARE late. Most billpay services will send payments electronically, so you KNOW they'll be credited wihtin three business days. Sample: this week I asked CapitalOne to balance transfer money to one of my Chase accounts. I made the request online Monday; the transfer was made Tuesday; it shows up in my Chase account with a posting date of Wednesday. You have to learn how to play this game....
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
View our latest credit card ratings!
Author: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 19 May 2003
Posts: 715
Location: NJ
Posted: Sun May 02, 2004 12:31 pm
Stephanie: I agree with you - that's exactly what you think! However, you think wrong. I have numerous credit cards and use each one for a precise reason. I also pay off my entire balance on every card within the grace period. I never rent money. Examples: AAA Financial gives me a 5% rebate on all of my gas purchases. What with the soaring price of gas and my need to drive close to 40,000 miles per year, this is very significant. However, there is no advantage to using this card for any other purpose. I have various and sundry other cards which offer rebates on specific types of purchases. I match the purchase to the card to achieve the maximum available rebate. Let's talk about 0% introductory balance transfer rates. I LOVE these! I apply for as many of these cards as I can. When I get a card I transfer close to the limit (but NOT the limit) to an interest bearing account, pay the minimum each month until the intro rate expires, and then withdraw the remaining principal from the interest bearing account and pay off the balance. The interest is mine to keep. It's callled using OPM (other people's money) to make money. I currently have over $35,000.00 worth ofr OPM working for me. I'll make close to $1,000.00 this year with this trick. Bottom line is don't make rash statements about what other people should or should not do until you have all, and I mean ALL the facts at hand.
View our latest credit card ratings!
Author: mouse
Guest
Posted: Sun May 02, 2004 1:48 pm
Post subject: Re: Why so many accounts?
Stephanie wrote:
By the way, I also think you answered your own question about getting an additional credit card. The fact that you used the phrase 'too many already' should let you know you're asking for trouble! I don't know how old you are, but I think 2 credit cards are sufficient to keep your credit good and avoid potential financial ruin. Any more than that and you could find yourself in an extremely unfortunate situation.
2 IS WRONG ANSWER
View our latest credit card ratings!
Author: meto
Credit Expert (100+ Posts)
Joined: 21 Mar 2004
Posts: 209
Posted: Sun May 02, 2004 7:15 pm
Post subject: Re: Why so many accounts?
By GEORGE I think you're right.
mouse wrote:
Stephanie wrote:
By the way, I also think you answered your own question about getting an additional credit card. The fact that you used the phrase 'too many already' should let you know you're asking for trouble! I don't know how old you are, but I think 2 credit cards are sufficient to keep your credit good and avoid potential financial ruin. Any more than that and you could find yourself in an extremely unfortunate situation.
2 IS WRONG ANSWER
me
View our latest credit card ratings!
Author: mouse
Guest
Posted: Sun May 02, 2004 9:51 pm
Post subject: Re: Why so many accounts?
meto wrote:
By GEORGE I think you're right.
mouse wrote:
Stephanie wrote:
By the way, I also think you answered your own question about getting an additional credit card. The fact that you used the phrase 'too many already' should let you know you're asking for trouble! I don't know how old you are, but I think 2 credit cards are sufficient to keep your credit good and avoid potential financial ruin. Any more than that and you could find yourself in an extremely unfortunate situation.2 IS WRONG ANSWER
59 could be the RIGHT answer
View our latest credit card ratings!
Author: Reality Joe
Guest
Posted: Wed May 05, 2004 2:25 pm
Post subject: Get Real
"I HAVE 15 CARDS IN MY POSSESSION! YOU "NEED" TO HAVE BACKUPS......ALWAYS." What may be good for you isn't good for the majority of people in this country who currently owe hundreds of billions of high interest rate debt. And the same for the poster who made $1000 last year playing the credit card "pea shell" game. Most people don't have time to shuffle cards as you have done. And do it timely and accurately! And obviously, most people don't pay off their balance each month. Credit cards are great for travel and emergencies, but a lot of people in this country treat them like a new found source of income. And that is where the trouble lies.
View our latest credit card ratings!
posted by CardRatings.com at 3:09 PM
0 Comments:
Post a Comment
<< Home