Credit Tips: Searching for Best Credit Card Offer

Posted On: February 18, 2005

Author: jan
Joined: 18 Feb 2005
Posts: 2
Posted: Fri Feb 18, 2005 4:22 pm
Post subject: which card is really best ?

I currently have VISA and they suck! Commercials notwithstanding, which card is best to actually use? I am looking for low stress level! I hate these cards,but realize I need to have one, don’t want to use it often,but want it available when I do. Help me please !! thanx Jan

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Author: hesiden
Joined: 14 Jan 2005
Posts: 42
Posted: Mon Feb 21, 2005 10:06 am

If you are not going to use the card often and if you do and pay it off in full then and the card has no annual fee then it doesn’t really matter which card.

Otherwise it depends upon your usage, if you are going to keep a balance on the card then you’ll want to find a card with a low intrest rate. If you want to use a card a lot just so you don’t have to write checks or carry cash, but pay it off in full each month then a “reward” card would be good. This web site has lists of both types of cards.

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Author: GeoUSA
Joined: 23 Jul 2004
Posts: 9
Posted: Wed Feb 23, 2005 3:43 pm

Hi, Jan. I agree it is nearly necessary to have a credit card these days. I think the best one is a “check” card linked to your checking account. When my credit union first mailed mine to me I almost cut it up. I have found it to be very useful. It makes it easy to make online purchases, reserve rooms, car rentals, etc without the risk of running up debt. It also doubles as my ATM card.

I always choose the credit option instead of debit to avoid fees. Wal-Mart (and others I imagine) no longer allow the card to be used as a credit card — they also wish to avoid the related fees.

I have other credit cards, but I find the check card to be my favorite. My favorite real card is the Citi Dividend which pays 5% at grocery stores, drug stores, and gas stations. Typical of Citibank, they have already amended the rules to add new fees including higher minimum finance charges and fees for using the card in another country/currency.

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Author: jan
Joined: 18 Feb 2005
Posts: 2
Posted: Wed Feb 23, 2005 5:15 pm

I think (hope?) that my problems stem not from VISA , but the bank that issued it, I am going to try a visa issued from my personal bank, in hopes of more personal service. Wish me luck !!

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Credit Tips: Searching for Best Credit Card Offer

Posted On: February 1, 2005

Author: Nathan
Joined: 09 Apr 2004
Posts: 42
Location: Arizona
Posted: Tue Feb 01, 2005 12:25 am
Post subject: Which Card Would Approve ME Right Now?

I’ve been contemplating getting a new card but I’m worried that some C.C. companies may decline me due to “overall debt” again. The reason I ask is FUSA/Bank1 declined me when I had about $25K in C.C. debt (their ONLY reason according to the letter). When they declined me, I was doing some BTs and some of the newly $0′ed balances were not updated to any of the CBRs.

Right now, I have just over $17k on one card (0% BT that I wrote the checks to myself), and a few other small $100-$200 balances. All scores FICO’s are over 700. Available is over 90%. DTI is not an issue.

Anyone know of a company that would approve me now? Anyone have experiences they can share? Maybe someone can guide me how to apply in a manner that would make the C.C. company more comfortable?

Thanks in advance!

There are no stupid questions — only stupid answers.

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Author: hdporter
Joined: 24 Jan 2005
Posts: 9
Location: Philadelphia
Posted: Tue Feb 01, 2005 5:22 am

Without addressing your specifics, it’s important to realize that credit card companies are still flooding mailboxes of those who they consider strong applicants (we’re talking FICO’s of 680+ with more moderate debt levels than yours). These “pre-approved” offers are you strongest bet for an additional credit card.

If you aren’t receiving these at present, then there is some aspect of your credit profile that is making them shy away from you and it’s relatively unlikely that an an attractive issuer will be receptive to a “cold” application (think of in terms of cold calling) at this time — for whatever reason, non invited applications receive more stringent review.

If you have a strong stomach for rejection,you can continue your pursuit. I don’t view any of the major issuers as being any more receptive to a “cold” application. But each have their own criteria, so you may find one that’ll snap you up.

But my advice is to relax, allow some time for newly issued cards to become more seasoned and establish strong history on their own, and wait for your mailbox to heat up.

Finally, my experience is that my present account issuers are being very aggressive in extending sizable limit increases at least once a year with 0% come-ons — even in a case where I had just recently requested a standard increase and was rejected.

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Author: Nathan
Joined: 09 Apr 2004
Posts: 42
Location: Arizona
Posted: Sat Feb 12, 2005 5:43 pm

Just FYI:

I applied for a Chase Platinum Card & a Bank One/FUSA Amazon.com card - even though they are the same company now.

Chase approved $7,500 w/good terms overall.

FUSA approved it, but I haven’t received the card or details yet.

Can’t complain too much.

There are no stupid questions — only stupid answers.

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Author: Board Monitor
Board Monitor/ Administrator
Joined: 05 May 2003
Posts: 564
Posted: Sun Feb 13, 2005 10:06 am

Congrats Nathan!

Best Regards,
Curtis Arnold
Board Monitor
U.S. Citizens for Fair Credit Card Terms, Inc.
http://www.cardratings.com
501-663-0314 PH
501-301-8474 FX

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