Credit Tips: National City Credit Card Review

Posted On: February 1, 2006

Author: NightStar
Posted: Sun Nov 16, 2003 6:17 pm
Post subject: National City Credit Card Review

http://www.nationalcity.com/personal/

Platinum Visa

Annual Percentage Rate (APR)

for Purchases Fixed 9.9% (0.02712% daily periodic rate) – 11.9%† (0.03260% daily periodic rate)

Other APRs

Balance Transfer processed during the first 6 billing cycles the account is opened: Fixed 5.9% (0.01616% daily periodic rate) APR for the life of the balance transfer. Balance Transfers processed after the first 6 billing cycles: Same as Purchase APR.

Cash Advance APR:

Fixed 17.9% (0.04904% daily periodic rate)

Penalty Rate:

Fixed 23.9% (0.06547% daily periodic rate) See
explanation below*.

Grace Period for Repayment of the Balance for New Purchases

At least 25 days, if previous total balance is paid in full by the payment due date.

Method of Computing the Balance

for Purchase Average Daily Balance (including new purchases)

Annual Fee

None

Minimum Finance Charge

$0.50 when finance charges are imposed.

Transaction Fee for Cash Advances:

3% of advance amount; $50.00 maximum.

Late Payment Fee:

$29.00

Over limit Fee:

$29.00

Balance Transfer Fee:

None

* If you fail to pay at least two consecutive minimum payment amounts by the due date, we may increase all APRs, including any special or promotional APR offers.

† Actual APR is based on your credit standing.

We may change the above rates, fees and other account terms at any time in accordance with applicable law and the agreement that will be sent with your credit card.

WHEN FINANCE CHARGES WILL BE ADDED TO YOUR ACCOUNT

A) PURCHASES. We will charge finance charges on purchases from the date of each transaction. Finance charges will continue to be imposed until the date payment in full of the New Balance is posted to your Account. You may avoid finance charges on new purchases appearing on your current statement if you paid in full the “New Balance” shown on your previous statement and your payment was received by the due date.

B) CASH ADVANCES. We will charge finance charges on each cash advance from the date of the cash advance. We will charge finance charges on each convenience check from the date it is received by us. We will figure finance charges on unpaid cash advances and new cash advances. We will charge finance charges on new cash advances even if you paid in full the “New Balance” shown on your previous statement and your payment was received by the due date.

HOW WE CALCULATE THE AMOUNT OF FINANCE CHARGES

A) PURCHASES. We use the “average daily balance of purchases” to calculate finance charges on purchases. The following description is how we calculate the “average daily balance of purchases”:

(1) We start with the unpaid amount of purchases, and, if legally permissible, unpaid finance charges and fees that apply to purchases, on each day of the billing cycle.

(2) Each day we subtract any payments or credits that apply to purchases. We add any new purchases and fees that apply to purchases if you have not paid in full the New Balance on your previous statement by the due date. This gives us the daily balance of purchases.

(3) Then we add up all the daily balances of purchases for the billing cycle and divide by the total number of days in the billing cycle. This gives us the “average daily balance of purchases.”

(4) We will calculate finance charges on purchases by multiplying the “average daily balance of purchases” by the total number of days in the billing cycle, and multiplying the product by the daily periodic rate of finance charges then in effect.

B) CASH ADVANCES. We use the “average daily balance of cash advances” to calculate finance charges on cash advances. The following description is how we calculate the “average daily balance of cash advances”:

(1) We start with the unpaid amount of cash advances, and, if legally permissible, unpaid finance charges and fees that apply to cash advances, on each day of the billing cycle.

(2) Each day we add any new cash advances and fees that apply to cash advances. Then we subtract any payments or credits that apply to cash advances. This gives us the daily balance of cash advances.

(3) Then we add up all the daily balances of cash advances for the billing cycle and divide by the total number of days in the billing cycle. This gives us the “average daily balance of cash advances.”

(4) We will calculate finance charges on cash advances by multiplying the “average daily balance of cash advances” by the total number of days in the billing cycle, and multiplying the product by the daily periodic rate of finance charge then in effect.

C) PENALTY RATE

(1) If on any payment due date, our records reflect that you failed to make at least the minimum amount due by the due date for two consecutive billing cycles, we may, at our discretion, if permitted by applicable law, increase the periodic rate and annual percentage rate for both purchases and cash advances (including existing balances and all future transactions) to a higher penalty rate. The penalty annual percentage rate and periodic rate of finance charge currently in effect are set forth in the Disclosures.

(2) Your Account may again be eligible for the annual percentage rate that would otherwise apply after you have met the repayment requirements of your Agreement with us for six consecutive billing cycles. However, your Account will no longer be eligible for any introductory or promotional rate.

The following fees apply to the account, in addition to those shown in the Disclosure:

Returned Payment Fee: $29.00
Returned Convenience Check Fee: $29.00
Stop Payment Fee: $29.00
Research Fee: $3.00 per copy

The information about the costs of the card described in this offer is accurate as of 09/30/2003. This information may have changed after that date. To find out what may have changed, call us at 1-800-282-7541 or write us at P.O. Box 2349, Kalamazoo MI 49003.

Credit Tips: National City Credit Card Review

Posted On:

Author: NightStar
Posted: Mon Nov 10, 2003 6:24 pm
Post subject: National City Credit Card Review

Just recently was approved for a Diamond Visa Platinum Card.

9.5% Fixed rate for all purchases, balance transfers & cash advances.

No balance transfer, convenience check or cash advance fees.

I am missing something because the site says this instead of what I received. So I will most likely have to call in and see if I can’t nab the 5.9% balance transfer deal.

Quote:
9.9% fixed APR* on purchases and 5.9% APR* fixed for life on balances transferred today

Oh, and they pull TransUnion, at least in the midwest area here.
704 credit score, for a $2,000 credit limit.

A lot better then I have had before, so I will be happy with this one I think.

Author: Verne
Posted: Mon Nov 10, 2003 7:12 pm
Post subject: National City Credit Card Review

NightStar,

I had a National City card several years ago but closed the account after six months when the intro rate went to 19% plus. I should have called and tried to work something out or just kept the card for the available credit. But this was before I knew much about the importance of available credit and the impact of closing accounts on the credit score.

One thing still strikes me as odd. My National City account has never been on any of my credit reports. For some reason my short-lived Fleet account didn’t show up on any of the reports either.

Author: nativechild48
Posted: Mon Nov 10, 2003 7:23 pm
Post subject: National City Credit Card Review

Sometimes there is a limitation as to what the customer service dept. is authorized to do so it is better to see if they have a retention dept. and see if they can give a more attractive offer.

Author: NightStar
Posted: Mon Nov 10, 2003 7:53 pm
Post subject: National City Credit Card Review

I learned a lesson the hard way today, I put in my mailing address instead of my physical address.

Well since the bank did not have my new physical address they tried mailing to my old address. So I called today to report lost card, then it show up at my po box, too late though.

Just hate to see them even report one of my accounts lost / stolen and closed.

Quote:
I had a National City card several years ago but closed the account after six months when the intro rate went to 19% plus. I should have called and tried to work something out or just kept the card for the available credit. But this was before I knew much about the importance of available credit and the impact of closing accounts on the credit score.

I know here looking at credit reports that I do see National City reporting their accounts.

You might try, like I have seen others accomplish - calling them back and asking if you can re-open this account. I don’t know National City policy but I have seen people get fortunate for the effort on other accounts.

I know here looking at credit reports - that I do see National City reporting, so depending on how long back, it might be a change in recent years. I just can’t remember if they reported to all 3 CRAs though.