Net 1st MasterCard Review Concerns
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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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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.
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?
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
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Linda in VA
Date: 1/23/2001 8:26 am CDT
Hi Curtis,
Well, speaking as a board participant, and a user of the sponsoring websites, I have an opinion on this discussion.
I think most of us know that y'all are in business here. My personal opinion is that all of the affiliated sites show a great deal of integrity in the *way* you consuct your business, and you (and the regular members who post here)really try to help consumers who come here with problems and questions.
Personally, I visited Christine's site, read her story, etc. and I think that promoting a victim mentality does little to help consumers. Anyone who can read this board enough to participate, can read the disclosures that come with a credit card. If they choose not to do that before they make a decision, they are not acting in their own best interests.
It's not a perfect world. Some deals are better than others. Some people are smarter than others. If a person chooses to make others responsible for their success or failure, in life or in business, they will end up with what others want them to have.
What happened to personal responsibility? When did a business have to do any more than give you what they said they would give you for the price they state? When did the government become our guardian. If you don't like the way someone does business, don't do business with them.
IMHO, Christine is just looking for a fight, has nothing better to do, and you happened to be in her line of sight at the moment.
Reading her posts does put a little spice in my day, though
Linda
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Susan
Date: 1/23/2001 8:49 pm CDT
Me too!!!!!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Board Monitor - CA
Date: 1/25/2001 11:59 am CDT
To All,
Just a follow up note to the heated discussions that we had recently about the Net 1st Mastercard. I personally decided to take a "further look" at this card after Christine Baker appeared to be so adamant about how unattractive this card is for consumers. While I don't always appreciate the manner in which Christine expresses herself, I do value her opinion.
In this case, I must say that she is right on target. Christine brought up many unattractive features about this card that we have simply overlooked in the past. I think a lot of this has to do with the unique "Reservation Fee" that is associated with this card. On the surface, the 0% interest rate is very appealing. However, as Christine point outs in her OCC filing, the fine print is much less attractive. So much so, that, as of today, we have downgraded the card to a one-star rating, which is our poorest rating. You can read our updated review by visiting our "Card Reports" section and clicking on "Poor Credit".
I would like to thank Christine publically for bringing this to our attention. As always, we put the interest of consumers before the interests of our sponsors. By the way, for the record, since we began advertising this particular card earlier this month, we have not earned one red dime in commissions.
Best Regards,
Curtis Arnold
CFCCT P.R. Director
http://www.cardratings.org
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 4:16 PM
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