Credit Card for a College Student

Author: roper
Joined: 23 Jun 2003
Posts: 1
Posted: Mon Jun 23, 2003 11:52 am
Post subject: College Student-Employed Part-time-Good limited credit

I am a college student employed part-time. I live at home with my parents and basically have no expenses except my gas. My parents still pay truck payment and insurance while I am in school. I am a registered user on my parents credit card but can only use if by permission from parents. However, I believe this gives me credit. I have limited but good credit at a bank that I financed my four wheeler at. I have never been late in making my payment. I will graduate in about 6 months and would really like to obtain a credit card. I really don't want a student card because the interest rate is so high. What are my chances of applying and being approved for a low interest card. Any suggestions as to which company I should apply for?


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National City Platinum Visa

Author: NightStar, Credit Expert (100+ Posts)
Joined: 07 Nov 2003
Posts: 1699
Location: Illinois
Posted: Sun Nov 16, 2003 6:17 pm
subject: National City:


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.



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Fifth Third Bank Platinum Mastercard

Author: NightStar, Credit Expert (100+ Posts)
Joined: 07 Nov 2003
Posts: 1699
Location: Illinois
Posted: Sun Nov 16, 2003 6:18 pm
Post subject: Fifth Third Bank:

http://www.53.com/
Platinum MasterCard

Annual Percentage Rate (APR) for purchases A fixed 0%

Introductory APR for purchases during the first four billing cycles.*; Then a variable APR of WSJ Prime Rate** + 3.99% (7.99%), Prime + 6.99% (10.99%), Prime + 8.99% (12.99%), or Prime + 12.99% (16.99%) depending on our review of your application and credit history.

Other APRs Introductory Balance Transfer APR: 0% for first four billing cycles; after that, variable APR for Purchases;

Cash advance APR: 19.99% or the WSJ Prime Rate** + 10.99% (19.99% as of 11/1/03) (19.99% minimum; 24.99% maximum)

Delinquency APR: 23.99% See explanation below.

*** Variable Rate Information Your annual percentage rate may vary monthly.

The APR for Purchases and Cash Advances is based on the WSJ Prime Rate plus a margin, the rate is calculated monthly by adding the margin applicable to the account to the WSJ Prime Rate.**

Annual Fee None

Grace Period for Repayment of the Balance for Puchases A minimum of 25 days on average from the billing date (provided that the previous account balance is paid in full by its Payment Due Date).

Method of Computing the Balance for Purchases Average Daily Balance (including current transactions)

Minimum Finance Charge $1.00 (if the total of a Finance Charge being added to your account is less than $1.00 in any billing cycle)

Cash Advance Fee $5.00 or 3.5% of the total dollar amount advanced, whichever is greater

Late Payment Fee $35.00 (at the time the Minimum Amount Due is not received by the Payment Due Date and at monthly intervals thereafter as long as the Minimum Payment Due remains past due)

Overlimit Fee $35.00

Balance Transfer Fee None

Transaction Fee for Purchases None

Other Fees:

Returned Payment Fee: $35.00

Foreign Currency Transaction Fee: 2% of the gross amount provided by the relevant Card association (or its affiliate); and Ready Reserve Fee: $7.00 per transaction.

*Introductory Rate: The introductory APR for Purchases and Balance Transfers will remain in effect through the closing date of the fourth billing cycle after your Account is opened, so long as the Minimum Amount Due on Account Statements is paid by each Payment Due Date during the promotional period. If not, the introductory APR will adjust in the billing cycles following any late payment to the variable APR for Purchases and Balance Transfers then in effect.

**The WSJ Prime Rate means the highest prime rate published in The Wall Street Journal on the day the rate is determined (or the previous day on which The Wall Street Journal was published if the paper is not published on that day). The date the rate is determined is the third Friday of each month. Any increase or decrease in the WSJ Prime Rate will result in an increase or decrease in your monthly periodic rate and corresponding APR. These changes will be applied, as applicable, to your existing account balance and to subsequent transactions effective as of the first day of the billing cycle immediately following the month in which we calculate the rate.

***Delinquency APR: If you fail to pay the Minimum Amount Due on your account by the Payment Due Date or to make a payment on to any other creditor when due, we will apply the Delinquency APR to the existing balance of your account and to all subsequent transactions posted to your account as of the first day of the second consecutive billing cycle after the billing cycle in which

(i) the Payment Due Date for the Minimum Amount Due on your account occurred or

(ii) the payment due date for a payment to any other creditor occurred, as applicable.

Once you become subject to the Delinquency APR, we may change your APR back to the respective APR for your account but only if you bring your account current and then pay at least the Minimum Amount Due by the Payment Due Date for six (6) consecutive billing cycles.

Arbitration: Need to read further information at site about Arbitration.

Information contained in this Fifth Third Bank Disclosure was printed on 11/1/03 and is accurate as of that date and is subject to change thereafter. To obtain more recent information, please call us at 1-800-972-3030.



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Union Planters Platinum Mastercard / Visa

Author: NightStar,Credit Expert (100+ Posts)
Joined: 07 Nov 2003
Posts: 1699
Location: Illinois
Posted: Sun Nov 16, 2003 6:22 pm
Post subject: Union Planters:

http://www.unionplanters.com/
WorldPointsSM Rewards Platinum Plus Mastercard / Visa

Annual Fee None Annual Percentage Rate (APR) for Purchases 10.99% †Other APRs The APR for Bank and ATM Cash Advances 10.99% 2.9%

Introductory APR for Balance Transfers and Cash Advance Checks through your first six statement closing dates, or earlier if your payment is late; after that, 10.99%. See explanation below.

Grace period for repayment of balance for Purchases At least 25 days from the statement Closing Date (provided you have paid in full the New Balance Total from the previous statement by its Payment Due Date).

Method of computing the balance for Purchases Average Daily Balance (including new transactions). Transaction fees for Cash Advances and fees for paying late or exceeding the credit limit Transaction fee for Bank and ATM cash advances; 3% of each cash advance (minimum $5).

Transaction fee for cash advance checks and balance transfers: 3% of each cash advance (minimum $10, maximum $75).

Late-payment fee: Based on your balance on the business day after the Payment Due Date - $15 if $100 or less; $29 if between $100.01 and $1000; $39 if over $1000. Over-the-credit-limit fee: Based on your balance as of each statement Closing Date - $15 if $500 or less; $29 if between $500.01 and $1000; $39 if over $1000. Transaction fee for Purchases Transaction fee for the purchase of wire transfers, person-to-person money transfers, bets, lottery tickets, and casino gaming chips: 3% of each such purchase (minimum $5).

The Introductory APR is effective upon the opening of your account. When your minimum monthly payment is late (i.e., not received by 2 p.m., ET, on its Payment Due Date), or when the Introductory APR expires, the non-introductory APR is applied to new and outstanding balances (consisting of balance transfer and cash advance check transactions). If your payment is late, the non-introductory APR is applied to those balances as of the first day of the billing cycle in which the payment was late or not received. The non-introductory APR for your account may change. MBNA allocates your payments to balances (including new transactions) with lower APRs before balances with higher APRs.

**Certain restrictions apply to these and other benefits as described in the benefits brochures sent soon after your account is opened. Preferred card benefits differ from Platinum Plus benefits (e.g., coverage amounts vary and some benefits are not available).

§ WorldPointsSM Rewards Highlights - refer to site for further detail: TRAVEL REWARDS MERCHANDISE & GIFT CARD/CERTIFICATE REWARDS CASH REWARDS GENERAL

The information contained in this advertisement was accurate as of 11/1/2003. The information may have changed after that date. To find out what may have changed you may contact MBNA America Bank, N.A., for specific information by calling 1-800-932-2775 or by writing to P.O. Box 15020, Wilmington, DE 19850. TTY users, please call 1-800-833-6262.



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Wells Fargo Visa Platinum Card

Author: NightStar, Credit Expert (100+ Posts)
Joined: 07 Nov 2003
Posts: 1699
Location: Illinois
Posted: Sun Nov 16, 2003 6:22 pm
Post subject: Wells Fargo:

http://www.wellsfargo.com/
Wells Fargo Visa® Platinum Card

Annual percentage rate (APR) for purchases APRs range between 0% and 5.9% for the first 6 billing cycles the account is open*, after that between 7.65% and 19.25%, depending on applicant's credit qualifications.

*During the Introductory Period, if a minimum monthly payment is not received by its payment due date, or the account is closed, the Introductory APR is forfeited and the APR that will be applied to the outstanding balance will be the variable rate for purchases as determined by the Variable Rate Information section described above. Other APRs Cash Advance APR: 19.99%**

**The APR for cash advances may vary monthly. For most customers, the cash advance APR is determined by adding a margin of 15.24 percentage points to the Prime Rate, subject to a minimum APR for cash advances of 19.99%. (The APR for cash advances will not decrease below 19.99% regardless of changes to the Prime Rate.) Some customers may receive cash advance APRs equal to their variable APR for purchases.

Balance Transfer APRs: Introductory rates range between 0% and 5.9% for the first 6 billing cycles the account is open.* After that, the variable APR for purchases applies. Currently that rate ranges between 7.65% and 19.25% depending on credit qualifications. Penalty Rate: 23.9% See explanation below.***

*** The penalty rate will apply to all balances (including any balances under an introductory APR) if a minimum monthly payment is not received for two successive billing cycles. Variable rate information Your APR for purchase transactions may vary. The rate is determined monthly by adding a margin, ranging between 2.9 and 14.5 percentage points, to the Prime Rate. ****

**** The Prime Rate used to determine your APRs is the highest prime rate published in The Wall Street Journal on the tenth and the twenty-fifth of the month. The APRs for purchases are subject to minimum rates ranging between 7.65% and 19.25% and will not decrease below the applicable minimum rate regardless of changes to the Prime Rate. The maximum periodic APR that will apply to any balance is 23.9%. Grace period for repayment of balances for purchases 20 to 25 days if previous balance is paid in full by its due date

No grace period for balance transfers.

Method of computing the balance for purchases Average Daily Balance (including new purchases)

Annual fee None Minimum finance charge $2.00 You may not qualify for the lowest APRs disclosed above. The APRs that will apply to your account will be determined by our review of your credit report, information you provide on your application, and other relevant information available to us.

Additional Fee Information: Transaction fees for cash advances: $10.00 each day an Overdraft Protection advance is made. 4% of the amount of each ATM, Wells Fargo Online Banking or Customer Service advance ($5 minimum). 4% of the amount of each SUPERCHECKSTM advance ($15 minimum). 4% of the amount of an advance at a participating Financial Institution ($15 minimum). 4% of the amount of each advance from any other source ($20 minimum).

Balance Transfer Fee: $0 for the first 30 days the account is open and after that, 3% of the amount of each balance transfer but not less than $5 or more than $50

Late Payment Fee: $20 on balances up to $100, $29 on balances of $100 up to $1,000, and $35 on balances of $1,000 and over.

Overlimit Fee: $32

Wells Fargo Rewards® Annual Program Fee: $19

Prime Rewards® Annual Program Fee: $70

This information about the cost of the credit card account described in this application is accurate as of July 2003. This information may have changed after that date. To find out what may have changed, call 1-800-642-4720.



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Credit Card Account Dispute

Author: Ira, SENIOR MEMBER (Member for 2 yrs.+)
Joined: 19 May 2003
Posts: 616Location: NJ
Posted: Sat Nov 15, 2003 11:51 pm
Post subject: non-existent dispute item

I think this has nothing more than nuisance value, but let me throw it out there anyway. There is a line on all three CRA reports for one of my department store cards (The Bon Ton to give it a name) indicating that I am disputing this record. This is silly since the card has a zero balance, was never paid late, has had a high credit of under $200.00 since I opened the account, and I've never had anything to dispute with them. I've written very polite letters to all three CRAs telling them that I haven't protested anything. They always come back telling me that the report hasn't changed. I've called Bon Ton and asked them what their records show and they can't find any record of a protest. So the question is, should I just ignore it and let it fall off the report in its own good time, or what? I pay my balances every month and have no bad marks at all. I have no idea what my score is since I never check it, but it must be pretty good since I never have trouble opening new cards.

Do not let what you cannot do interfere with what you can do.

Ira



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