Credit Card Offer with No Fee and 0% APR
Guest: dmband
Post subject: Credit Card Offer with No Fee and 0% APR
Posted: Wed Aug 30, 2006 10:43 pm
I just received this offer a few days ago and applied and was approved for $2,000. No BT transfer fee and no interest until March of 2008 I think it was! I have already received my card too all within about 2 weeks I think it was.
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Guest: Bikshu
Posted: Thu Aug 31, 2006 1:34 am
Quote:
I just received this offer a few days ago and applied and was approved for $2,000. No BT transfer fee and no interest until March of 2008 I think it was! I have already received my card too all within about 2 weeks I think it was.
Was this a World MasterCard or Visa Signature offer? I've never heard of a Signature or World Card with a limit less than $5k. I didn't thenk Visa/MC would allow them....
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Credit Expert (100+ Posts)
Posted: Thu Aug 31, 2006 1:16 pm
i've have a chase card, and i am not impressed by them at all. as far as i am concerned they are worse than capital one. i called and asked for a $5k credit line increase. they made a hard inquiry on my equifax report and denied my increase. my credit score w/equifax is 781. as far as me cont. to do business w/them they can go get ****. i'll charge 5 dollars every 6 months and keep the card open.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Aug 31, 2006 1:59 pm
Quote:
Sounds great, right? Not so fast. Because the actual credit limit is not reported, the CRAs are forced to use your high balance in place of it. So lets say you get this great Chase World MC account with an access line of $25,000. You now responsibly only put $400 on it, but you do put this same $400 on there each and every month. As far as the CRAs know, your credit limit is $400 and your current balance is $400... you appear to be tapped out so to speak. Never mind the fact that you are $24,600 under your limit, your utilization ratio still takes a hit and your FICO plunges.
You're falling into the credit score junkie trap. What's more important, the ability to save and make money or a few points on your credit score?
If I had this card with a $25,000.00 limit, I would immediately do a $24,500.00 balance transfer to my 5% savings account. By 2008 I would have made close to $2,500.00 in interest. If you want to do the same thing with a CD you'd make even more.
But of course you wouldn't see the transaction reflected on your credit score. Now I ask you, is your credit score worth $2,500.00??
_________________
Do not let what you cannot do interfere with what you can do.
Ira
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Credit Card Offer with No Fee and 0% APR
Posted: Wed Aug 30, 2006 10:43 pm
I just received this offer a few days ago and applied and was approved for $2,000. No BT transfer fee and no interest until March of 2008 I think it was! I have already received my card too all within about 2 weeks I think it was.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Bikshu
Posted: Thu Aug 31, 2006 1:34 am
Quote:
I just received this offer a few days ago and applied and was approved for $2,000. No BT transfer fee and no interest until March of 2008 I think it was! I have already received my card too all within about 2 weeks I think it was.
Was this a World MasterCard or Visa Signature offer? I've never heard of a Signature or World Card with a limit less than $5k. I didn't thenk Visa/MC would allow them....
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Credit Expert (100+ Posts)
Posted: Thu Aug 31, 2006 1:16 pm
i've have a chase card, and i am not impressed by them at all. as far as i am concerned they are worse than capital one. i called and asked for a $5k credit line increase. they made a hard inquiry on my equifax report and denied my increase. my credit score w/equifax is 781. as far as me cont. to do business w/them they can go get ****. i'll charge 5 dollars every 6 months and keep the card open.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Aug 31, 2006 1:59 pm
Quote:
Sounds great, right? Not so fast. Because the actual credit limit is not reported, the CRAs are forced to use your high balance in place of it. So lets say you get this great Chase World MC account with an access line of $25,000. You now responsibly only put $400 on it, but you do put this same $400 on there each and every month. As far as the CRAs know, your credit limit is $400 and your current balance is $400... you appear to be tapped out so to speak. Never mind the fact that you are $24,600 under your limit, your utilization ratio still takes a hit and your FICO plunges.
You're falling into the credit score junkie trap. What's more important, the ability to save and make money or a few points on your credit score?
If I had this card with a $25,000.00 limit, I would immediately do a $24,500.00 balance transfer to my 5% savings account. By 2008 I would have made close to $2,500.00 in interest. If you want to do the same thing with a CD you'd make even more.
But of course you wouldn't see the transaction reflected on your credit score. Now I ask you, is your credit score worth $2,500.00??
_________________
Do not let what you cannot do interfere with what you can do.
Ira
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 1:42 PM
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