Credit Tips: Low Interest Rate Credit Card Review

Posted On: January 1, 2006

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Posted: Tue Sep 28, 2004 6:17 pm
Post subject: Low Interest Rate Credit Card Review

Tim
Date: 2/17/2001 10:39 pm CDT

Can anyone tell me about the Next Card? I applied and was offered an unsecured card but I first had to pay on the card to actually use the credit line. The offer stated that the payment would be an interest free loan.

Sounds kind of shady to me. Plus they advertised a low interest rate but I was approved for a low interest rate plus prime.

Has anyone had the same situation?

Also, does anyone know which bank Next Card is affiliated with?

Any help is appreciated.

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Posted: Tue Sep 28, 2004 6:17 pm
Post subject: Low Interest Rate Credit Card Review

Board Monitor - CA
Date: 2/22/2001 3:20 pm CDT

Tim,

Thanks for your post! I think you are referring to NextCard’s secured card. They just start issuing secured cards recently. Anyway, I can’t comment much on their secured card, other than to say that there are more attractive secured cards out there. See our list of secured cards by visiting our “Card Reports” section and clicking on “Poor Credit”.

NextCard is a legit. company, though. They are the leading issuer of consumer credit on the Internet. I actually use a NextCard Visa as my primary personal credit card and have had this card for well over a year now. Their cards are issued by NextBank, NA, Phoenix, AZ. From what I recall, this is a bank that started sometime last year.

Following is their company history if you are interested (copied from their website):

COMPANY OVERVIEW: History, Mission & Corporate Values

HISTORY

NextCard was co-founded on June 6, 1996 by Jeremy and Molly Lent. Because NextCard was built on the Internet from the ground up, our culture is fast-paced, and ever-changing.

The first NextCard Visa was issued on December 23, 1997. Although many applied, only the best consumers passed the strict credit quality guidelines we established. It wasn’t until February of 1998 that we publicly unveiled NextCard through press releases and a concerted effort to alert the media. Once the news was out, we stepped up the pace and gave online consumers the ability to apply for the NextCard Visa 24-hours a day. As a result of our growing base of cardholders, we expanded our Customer Service operations to include a new facility in San Ramon, California.

In July of 1998, Version 2.0 of NextCard’s proprietary system was released, providing customers with Platinum and Classic credit cards. In October 1998, new customers were given the ability to transfer their balances from competitive cards to their new NextCard account as a result of unique patent-pending technology. We launched our first major product just in time for the holidays in 1998. We introduced the NextCard PictureCard SM allowing approved applicants to submit custom photographs and create their own credit card designs for the first time. We continued to innovate in April of 1999, when we updated the NextCard technology platform to allow for instant online credit. With that introduction, cardholders could be approved in 30-seconds and could shop online the same day, without having to wait for their new NextCard to arrive in the mail.

Since the company went public in May of 1999, we have remained focused on rapid innovation and incredible growth. In June, NextCard was added to the NASDAQ Financial 100 Index and was also added to the Russell 2000 Index in July. In August with over 100,000 accounts, NextCard launched the e-Commerce IndexSM, a barometer of online shopping activity. And, in September, The Industry Standard named NextCard one of the most important companies of the Internet economy.

Throughout 1999 and 2000, NextCard continued to develop and expand its portfolio of co-branded credit cards. NextCard is proud to be affiliated with innovative card partners: Amazon, BizRate, Dilbert, eBates, MyPoints, and PlanetOut.

In May of 2000, the company expanded its operations and opened an Internet-enabled call center in Phoenix, AZ. By the end of 2000, the company will embark on international expansion with the introduction of NextCard to residents of the United Kingdom.

Hope this helps!

Best Regards,
Curtis Arnold
CFCCT P.R. Dir.
http://www.cardratings.com

Credit Tips: Low Interest Rate Credit Card Review

Posted On:

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Posted: Thu Sep 23, 2004 11:34 pm
Post subject: Low Interest Rate Credit Card Review

Charles
Date: 3/1/2001 0:39 am CDT

I currently have four major credit cards with varying balances, which I would like to transfer to lower rate cards. My credit history is good, however, I was recently declined on an application for a low rate card for the following reason…”Balances compared to high credit on revolving accounts”. I have the resources to do one of two things…pay off only one account completely, OR, disperse the available resources across each of the four accounts, effectively reducing each balance by approximately $2,400, and lowering the remaining balances to between $3,000-$4,000 below their respective “High credit” levels. Any comments on which of these two options would best serve my efforts to obtain low interest credit for transfers of the remaining balances, would be appreciated.

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Posted: Thu Sep 23, 2004 11:35 pm
Post subject: Low Interest Rate Credit Card Review

Board Monitor - AD
Date: 3/1/2001 10:25 am CDT

Dear Charles,

I would recommend that you visit:

http://www.creditcardfreedom.com/credit_card_facts/introduction.asp

Where you’ll find various tips and secrets to balance transfers and lowering rates. Meanwhile I would try to lower the balance attached to the highest interest rate.

Sincerely,
Alex Daskaloff
http://www.creditcardfreedom.com

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Posted: Thu Sep 23, 2004 11:35 pm
Post subject: Low Interest Rate Credit Card Review

sandra
Date: 3/5/2001 9:54 pm CDT

Is a good deal to get a 0% interest rate credit card for a three months period and then it will be raised to a 9.5%?