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Citi Dividend Platinum Select Credit Card Offer
Guest: hdporter Credit Expert (100+ Posts) Post subject: Citi Dividend Platinum Select Credit Card OfferPosted: Mon Mar 13, 2006 11:25 am Anyone here have experience in responding to a mailed invitation from Citi that reads (excerpted): "We want to make your Citi Dividend Platinum Select Card the card you choose first for everything you buy" ... "What can we offer you? A lower rate on purchases?" ... "cash back on your everyday spending?" ... "rewards" ... "Please tell us what features or benefits would make your card easier or more rewarding to use" ... "RSVP: 800-xxx-xxxx today to see what you qualify for". Before we call and request a 0% 'til paid, no fee BT, , I was curious if anyone has been able to use this "offer" to milk something particularly attractive from them. - Harry
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Mon Mar 13, 2006 12:25 pm hdporter wrote: Anyone here have experience in responding to a mailed invitation from Citi that reads (excerpted): "We want to make your Citi Dividend Platinum Select Card the card you choose first for everything you buy" ... "What can we offer you? A lower rate on purchases?" ... "cash back on your everyday spending?" ... "rewards" ... "Please tell us what features or benefits would make your card easier or more rewarding to use" ... "RSVP: 800-xxx-xxxx today to see what you qualify for". Before we call and request a 0% 'til paid, no fee BT, , I was curious if anyone has been able to use this "offer" to milk something particularly attractive from them. - Harry "IF" I'm gonna' get CASH BACK I want the CASH BACK as a credit each month and I don't want to have to pick the correct places to shop at to find out what is "EVERYDAY SPENDING"
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Guest: bullet875 Posted: Mon Mar 13, 2006 10:08 pm I agree with mouse, but 10% cash back would be nice....a fairytale but nice all the same..lol
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Mon Mar 13, 2006 11:00 pm bullet875 wrote: I agree with mouse, but 10% cash back would be nice....a fairytale but nice all the same..lol 5% would be OK I would settle for even 3% NO MAX NO "SPECIAL PLACES ONLY" Everything else is like 1% or less
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Guest: hdporter Credit Expert (100+ Posts) Posted: Tue Mar 14, 2006 11:40 am Turns out the letter was prompted because there's been no active charges against the account. We asked for a lower rate and were told we have the lowest rate permitted on our Dividend Platinum Select. However, they offered to open a Diamond Rewards card with a reduced rate. We countered that we already had one. Of course, we use the Diamond and pay it in full each month while carrying a large transfer balance on the Platinum at 2% 'til paid. Bottom line, the letter was a non-event. Surprise. - H.
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Fewer Credit Cards with High Limits or More Credit Cards with Lower Limits? (cont'd.)
Guest: mouse Post subject: Fewer Credit Cards with High Limits or More Credit Cards with Lower Limits?SENIOR MEMBER (Member for 2 yrs.+) Posted: Tue Mar 14, 2006 10:59 am bullet875 wrote: My strategy is to have a couple of larger limits and then have a couple of very specialed credit cards for things that I don't do every day (like travel) that will have smaller limits and can be used only when I need them. I also thought that closing cards would always hurt, not help (?). When you have $20,000 or $30,000 or $50,000 or $100,000+ of other cards...HOW CAN CLOSING A $200 CARD HURT THAT MUCH?????? Even if it did it would only hurt for a short time
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Guest: creditnewbie Credit Expert (100+ Posts) Posted: Tue Mar 14, 2006 12:14 pm The account I closed had $10,000 limit. What happened was, I got the world mastercard which doesn't report the limit and closed the dividend card That I used for 6 months after I got the $300 cash back. I decided that what I really liked was miles or points not cash back. I had the AAdvantage mastercard for about 6 months then I changed it to Simplicity after I accumulated 93,000 miles because I found myself using the platinum AMEX almost exclusively. My limit is now reported for the simplicity card--$28,000. What I found funny was, my fico, before they reported the limit and before my balances got smaller, was 760 experian. Now, after they reported the limits and my utilization is 15% instead of 32%, my score is 753. Go figure. What I noticed though was, at 760, one of my cards had $0 balance. Now, the same card has $95 balance and the rest of the cards combined have lower balances than the previous month. My conclusion is, if you have balances on all your accounts even if they are small, you lose 7-10 points.
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Guest: bullet875 Posted: Tue Mar 14, 2006 12:33 pm I agree..strange. I have less than 1% utilization on my cards, but I'm wondering if it's worth it to me to charge everything ( like food, gas, utilities, cable...believe it, I have 5% cash back cards for EVRYTHING.lol) even though I will pay them off monthly. I wonder if that will hurt my score. On the other hand, I am 1 month ahead on my mortgage and student loan payments so I wonder if that helps...
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Guest: creditnewbie Credit Expert (100+ Posts) Posted: Tue Mar 14, 2006 1:44 pm Well, are you planning on applying for a new credit card, or any loans? If the answer is no, then your score really wouldn't matter as long as you don't miss any payments; however, keep your utilization at 30% or less. That way, if you need to apply for anything--cellular, car insurance,etc-- your report looks good all the time. If your credit hitory is short, your score will be too sensitive to any balance changes on your credit report. What I used to do was pay for everything with my credit cards. Then I pay more than 90% of the balances online before the cutoff dates and my balances appear low every month. After I got all the cards that I wanted, I didn't pre-pay my cards anymore.
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Guest: bullet875 Posted: Tue Mar 14, 2006 2:23 pm Sounds like a good plan to me!
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Guest: TomfromCT Posted: Tue Mar 14, 2006 3:15 pm creditnewbie wrote: The account I closed had $10,000 limit. What happened was, I got the world mastercard which doesn't report the limit and closed the dividend card That I used for 6 months after I got the $300 cash back. I decided that what I really liked was miles or points not cash back. I had the AAdvantage mastercard for about 6 months then I changed it to Simplicity after I accumulated 93,000 miles because I found myself using the platinum AMEX almost exclusively. My limit is now reported for the simplicity card--$28,000. What I found funny was, my fico, before they reported the limit and before my balances got smaller, was 760 experian. Now, after they reported the limits and my utilization is 15% instead of 32%, my score is 753. Go figure. What I noticed though was, at 760, one of my cards had $0 balance. Now, the same card has $95 balance and the rest of the cards combined have lower balances than the previous month. My conclusion is, if you have balances on all your accounts even if they are small, you lose 7-10 points. Goes to prove the point that all this credit scoring stuff is as much an art as a sciense.... at least for us consumers who aren't priviledged to how they rate us.
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Fewer Credit Cards with High Limits or More Credit Cards with Lower Limits?
Guest: bullet875 Post subject: Fewer Credit Cards with High Limits or More Credit Cards with Lower Limits? Posted: Mon Mar 13, 2006 9:41 pm smaller limits on more cards? Is it better to have 3-4 cards with huge limits or to have smaller limits and spread that total out amongst more cards? Or does it really not matter? Thanks in advance for your replies. I have really been learning a lot from you all!
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Mon Mar 13, 2006 11:02 pm bullet875 wrote: smaller limits on more cards? Is it better to have 3-4 cards with huge limits or to have smaller limits and spread that total out amongst more cards? Or does it really not matter? Thanks in advance for your replies. I have really been learning a lot from you all! I don't do SMALL LIMITS $5,000 is the lowest I will take Why have 50 cards at $200 each when you can have 2 cards at $5,000????
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Guest: bullet875 Posted: Tue Mar 14, 2006 6:22 am What if you could have 2 cards with 100k credit limit on both, or 10 specialized cards, each that could be used to max out on the cash rewards, and only had 10K limits on each? Does it matter from a creidt score standpoint which route you take?
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Guest: creditnewbie Credit Expert (100+ Posts) Posted: Tue Mar 14, 2006 6:47 am I think it's better to have high limits on fewer accounts. My score jumped 20 points after I closed one of my accounts. An ideal number of credit cards will have to be 5 or less but with high limits. It makes you look good to creditors. Not only your score will be higher but they will feel more comfortable giving you high limits too and you can keep better track of all your expenses when you have fewer cards.
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Guest: bullet875 Posted: Tue Mar 14, 2006 10:55 am My strategy is to have a couple of larger limits and then have a couple of very specialed credit cards for things that I don't do every day (like travel) that will have smaller limits and can be used only when I need them. I also thought that closing cards would always hurt, not help (?).
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Tue Mar 14, 2006 10:57 am Starting out you "MAY" need to have more cards with less credit limits AFTER 20+ YEARS IT IS NOT HARD TO GET A BUNCH OF $20,000 or HIGHER CARDS (even $50,000+) ($200 & $500 cards are then useless)
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Credit Cards with Universal Default Clause
Guest: Cathy Post subject: Credit Cards with Universal Default ClausePosted: Tue Mar 14, 2006 11:36 am Out of curiosity..........can someone help me compile a list of cards that have that dreaded universal default clause? I am wondering for my own information, but if I get enough info I may writing something on it as well (I'm a budding writer).
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Guest: TomfromCT Posted: Tue Mar 14, 2006 3:55 pm My wife's Gold Sears Mastercard has a Universal default of get ready sit down here it is 31.5 percent....... Thirty-one point five THIRTY ONE POINT FIVE 31.5....percent
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Capital One Credit Card After Charge Off (cont'd.)
Guest: stilltrying Post subject: Capital One Credit Card After Charge OffPosted: Tue Mar 14, 2006 3:18 am I think there is also one other possible way to try to get a higher credit limit. For whatever its reasons, people who apply for an additional card with Capital One might receive a much higher credit limit. I've read of people combining/merging the cards (and the credit limits) into one. The possible downside is that perhaps Capital One might not allow the person to merge the newer card into the older one. If the only option is to merge the older one into the newer one, then you'll lose all the age of the older card. There is something else that I found out. I received my card after I had sent in a pre-approved offer. I hadn't paid much attention (until years later) to the fact that this particular offer offered a maximum credit limit of $10,000. Well, it turns out that that limit is the highest limit that this card/account can ever achieve. That was a pretty big disappointment to learn about. Of course, with these small credit limit increases of a couple hundred dollars here and there offered who knows when, it may take me forever to get from ~ $6k up to $10k.
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Guest: bullwinkle29 Posted: Tue Mar 14, 2006 11:30 am maddybeagle wrote: Quote: so she calls cap one after she saw the bt was done. she tells cs to close the account. oh mam we can raise your line she said. my wife said, you had your chance, close the account. now we get 10 offers aweek from these people. so what i do, is shread the part w/our names, i send them my pizza hut coupons to them in there self-addresses envenlope, LOL at there cost. just remember to black out the bar code on the seal. (back side) I hate to read messages like this. People think closing an account is really sticking it to the man when they are just hurting themselves. Sock drawer the card and dont use it except once or twice a year to keep it active. i dont play the credit score game about closing accounts. look at her scores, i dont think it did a darn thing by closing it.
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Guest: maddybeagle Credit Expert (100+ Posts) Posted: Tue Mar 14, 2006 11:49 am Quote: i dont play the credit score game about closing accounts. look at her scores, i dont think it did a darn thing by closing it. I dont even think that I mentioned credit score You are removing another account that could be used for a good bt opportunity or offer. Besides, if you arent going to use the card, you are doing the cc company huge favor by closing since it costs to maintain an account.
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Guest: TomfromCT Posted: Tue Mar 14, 2006 3:37 pm well..guess i'll be moving up slowly from 700...if at all. but hey. atleast they gave me the card and i have the age of it its 3 years of age is alot better than the 4-5 months i have on my BOA and Juniper cards.
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Guest: JoyJoy Posted: Tue Mar 14, 2006 4:12 pm I have had Capital One cards (2) since 1990 and have never ever had a problem with them. In fact, I have never received a phone call from them or solicitations in the mail. Like one poster said, had it not been for Capital One, I wouldn't have the great credit scores that I have today nor would I have the $3,500.00 credit limit on one card and $1,600 on the other. CapI increased my credit limit last year by $2,000.00! I did not ask for it. I have recently paid both Capital One cards in full through BTs. My APRs were 12.8% and 9.9%. I will definitely keep them open and charge $20.00 on them every six months or so. If Citi and HSBC don't prove worthy of my cardmembership, you can bet I'm headed back to CapI. Perhaps CapI just wants to be the Big Brother in the neighborhood who helps people achieve fame and fortune with other credit card companies. I do remember them giving me a credit increase when my sister died in 2001 and I had to make arrangements to get to Michigan and get a hotel room. They gave me an emergency credit increase of $300.00 on both cards. _________________ J~J
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Guest: bullwinkle29 Posted: Tue Mar 14, 2006 8:12 pm HSBC, ANOTHER POS LENDER. i used to have an auto loan w/them, they would charge you 5 bucks to make an online payment. same w/my best buy account, which is through hsbc. i've since closed both
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Guest: specialops Posted: Wed Mar 15, 2006 1:47 am i had good experiences with capital one as well. ive been using them for quite awhile now. _________________ Hey guys, just wanted to let you know about this new site out there called cash crate. In one day i earned $32. And all i had to do was enter my email. If you want to check it out just follow my link: http://www.cashcrate.com/index.php?ref=1335
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Capital One Credit Card After Charge Off (cont'd.)
Guest: stilltrying Post subject: Capital One Credit Card After Charge OffPosted: Mon Mar 13, 2006 10:18 pm I've read a lot of stories on other credit boards of how terribly Capital One has treated other people. And yet in Tom's case and in my own, somewhere in that company there must still be some decent people left. Apparently they typically pull credit reports from all three bureaus, so several years ago they surely must have known about the (at the time) fresh 60 and 90 day late payments on two credit cards plus the numerous collection accounts. And yet Capital One gave me a $5,000 credit line plus a 12.9% APR (which is now at ~ 10%APR). That basically is mainly what has made it possible for me to keep my head above water for the last several years. I don't mean that this negates the way that some people have been treated. I don't know why Capital One gives chances and opportunties to some but not to all. But for some people Capital One can be a good (rebuilding) card.
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Guest: maddybeagle Credit Expert (100+ Posts) Posted: Mon Mar 13, 2006 10:22 pm Quote: so she calls cap one after she saw the bt was done. she tells cs to close the account. oh mam we can raise your line she said. my wife said, you had your chance, close the account. now we get 10 offers aweek from these people. so what i do, is shread the part w/our names, i send them my pizza hut coupons to them in there self-addresses envenlope, LOL at there cost. just remember to black out the bar code on the seal. (back side) I hate to read messages like this. People think closing an account is really sticking it to the man when they are just hurting themselves. Sock drawer the card and dont use it except once or twice a year to keep it active.
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Guest: TomfromCT Posted: Mon Mar 13, 2006 10:46 pm bullwinkle29 wrote: what are your credit cores?? you cn apply for the amex blue if your scores are above 680. 713, 707 and 657 no amex anything for me anyways. they were two fo the cards i had when i went down. i had the optima card and the regular amex. optima took a hit
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Guest: Polonius SENIOR MEMBER (Member for 2 yrs.+) Posted: Tue Mar 14, 2006 1:27 am I got two Cap1 cards in October 2002; CLs are $5,000 and $20,000--and there's never been an increase on them. They don't give increases requested by customers on the type of cards I have with them, and they've never offered an increase to me. BUT I applied for a third card a few months ago and got it--with a $20,000 credit line. And I have an application "pre-approved" for a fourth sitting on my desk. So why be angry with Cap1? It has a different marketing method than other banks, but simply because you're turned down for a CLI doesn't mean they won't give you more credit. Just respond to those pre-approved offers and see for yourself. I've never had any trouble with Cap1 by the way and find its cards very useful--balance transfers without fee, plenty of purchase checks, etc. _________________ Polonius "Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Tue Mar 14, 2006 1:50 am Polonius wrote: I got two Cap1 cards in October 2002; CLs are $5,000 and $20,000--and there's never been an increase on them. They don't give increases requested by customers on the type of cards I have with them, and they've never offered an increase to me. BUT I applied for a third card a few months ago and got it--with a $20,000 credit line. And I have an application "pre-approved" for a fourth sitting on my desk. So why be angry with Cap1? It has a different marketing method than other banks, but simply because you're turned down for a CLI doesn't mean they won't give you more credit. Just respond to those pre-approved offers and see for yourself. I've never had any trouble with Cap1 by the way and find its cards very useful--balance transfers without fee, plenty of purchase checks, etc. BT to the MAX for a month solves the no credit limit reported Then PIF after the statement generates
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Guest: BigDog Posted: Tue Mar 14, 2006 2:11 am I have 3 cards with cap one and my oldest card is 10 years old. I started with a $500.00 limit and after 10 years my limit is - are you ready for this - drum role please - Bam - $1,800.00 after ten years. They don't give out credit line increases that I know of. You can apply for another card and then combine them, but from what I remember they hit all 3 reports. IF ANYONE KNOWS HOW TO GO ABOUT GETTING AN INCREASE IN YOUR LINE WITH CAP ONE - PLEASE POST IT HERE - I would love to know. For about the first 4 years of having this card I would max it out to $500.00 every month and pay the balance in full. I was sent an offer years ago stating that if I deposit $100.00 with them, I would get a $1,000 increase. So I went for it. Then by some miracle I got a $300 raise about 5 years ago. I never missed a payment with them in 10 years. Today I sock draw the cards and charge about 20 bucks a year on each one. I would get rid of the cards, but they are my oldest accounts. They gave me a card when no one else would 10 years ago. So, I take the good with the bad - If it was not for cap one - I would not have cards with over $20,000 limits today.
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Guest: stilltrying Posted: Tue Mar 14, 2006 3:10 am "IF ANYONE KNOWS HOW TO GO ABOUT GETTING AN INCREASE IN YOUR LINE WITH CAP ONE - PLEASE POST IT HERE" According to what I've been told by Capital One, 2004 was the point when their policy changed on customers being able to call and request a credit limit increase. Prior to 2004, I had called on two occasions and received two $ 600 credit limit increases. There are two possible ways currently to obtain a credit limit increase: One way is to call the "Account Specialist" department. Sometimes when you call that department the person who answers identifies himself/herself as an "account manager". Unfortunately, these days the people in the general customer service department (and even in the balance transfer department) also call themselves "account managers"; so that's why it's worth knowing the other title of "account specialist" in order to get to the right person/department. Here is a topic on this: "Has anyone asked for and received a credit limit increase with Cap One ?" http://creditboards.com/forums/index.php?showtopic=146186 Here is the phone number for this department: 800-889-9939 (The account specialists also have the authority to offer a lower interest rate). The other way that people sometimes have sometimes been able to obtain a credit limit increase, decrease in the annual fee, and/or lower interest rate is by contacting the retention department. I don't have that number on me. Maybe you'll be able to find it by searching at creditboards. Now then, you'll notice as you read through that creditboards thread up above that some people after calling the account specialist phone number were turned down for a credit limit increase. The highest-level at Capital One is the "Executive Office" (the phone number and further information on this can be found at creditboards). Not even the executive office has the ability to offer a credit limit increase. I found this out after a long talk with someone there. It was explained to me that decisions on credit limit increases come solely from the "Credit Management Department" -- a department that can neither place calls out nor receive incoming calls. (Also, no one at any Capital One department with whom I've talked apparently (and I believed that they were being honest and forthcoming) has any knowledge of what the criteria is for credit limit increases inside that "Credit Management Department".) So how is that some people have been able to obtain a credit limit increase through an account specialist ? Well, my theory is that after this "credit management department" has reviewed your account and determined that it is elegible for a credit limit increase, then perhaps the account is flagged and the account specialist has the authority to offer the increase. But that's just a guess. Here is something else that I found out the hard way. When i had called the account specialist department last summer, I was told that I had my choice of either a lower interest rate or a $750 credit limit increase. Whatever I chose, I could call (I was told) 3 months later and ask for the other offer. Well, 3 months later I found out that it does not work that way -- that is, 3 months later for whatever inexplicable reason the $750 credit limit increase offer was no longer available to me even though there wasn't anything about me credit-wise that had changed for the worse. Here is another example of how mysterious and unfathomable Capital One is about credit limit increases: "Cap One CLI Offer...help me decide!, Is this a good move?" http://creditboards.com/forums/index.php?showtopic=139154 Read through that thread; It's interesting. Why that particular group of people were eligible neither I nor they know.
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Capital One Credit Card After Charge Off
Guest: TomfromCT Post subject: Capital One Credit Card After Charge OffPosted: Mon Mar 13, 2006 5:33 pm Well...... Cap One actually did me ok. I had a charged-off account with Cap One. They offered to transfer the debt to a new card a temporary 0% APR on that balance...9.9 on any purchases for a year. The credit limit was 0 and the balance on the card, listed as a special purchase, was $1500. I had to earn the credit limit with $25 increments for each $100 paid on the card, so the more of the balance I paid off, the more my credit limit would increase. However, once it hit the $700 credit limit that was it. No increases. Well I made my payments on time, if not early and paid more than the minimum and they gave me a 10% forgiveness of debt reward so they took $150 off the balance after 6 months, which was great and allowed me to pay it off faster. A year and a half after i got the card they transferred the account to a differant type and I was able to do BT's and get checks. Another year later and they made it a platinum card. So now its been about 5 months Platinum. I hope I start to get Limit increses as I'm still at 700. Of all my creditors, They helped the most. I had made similiar offers to my other credit cards but they laughed at me as most had sold the debts already.
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Guest: hdporter Credit Expert (100+ Posts) Posted: Mon Mar 13, 2006 6:21 pm Beautiful story, Tom! It's thoroughly impressive that, before employing hard ball tactics, Capital One offered you a thoroughly constructive approach through which you could make good on the debt and restore your account to good standing. That's quite a turn around from long standing reports of abusive debt collection behavior on their part. Of course, even more impressive is that you took the initiative to take advantage of the opportunity and stuck to your guns in satisfying their requirements. This is a real win-win story that has done much to raise C1 in my esteem. Congrats! - Harry
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Guest: TomfromCT Posted: Mon Mar 13, 2006 7:16 pm hdporter wrote: This is a real win-win story that has done much to raise C1 in my esteem. Congrats! - Harry It really was a win-win. If only my other creditors would have done it. My hard times lasted about 6 months. But becasue they all came after me so viciously the ordeal lasted YEARS. Depression, bad thoughts, lost friends, loneliness and the continued stigma of my poor credit because of that 6 months stretch. Of course its not their fault I didn't plan well enough for rainy days but they cost themselves by being so rigid. It is their fault for being happy to put people into debt and turn us into indentured servants for as long as possible.
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Guest: bullwinkle29 Posted: Mon Mar 13, 2006 9:01 pm WHY DOES ANYONE DO BUSINESS W/CAP ONE? THEY A JOKE!!!!!!!! my wife had them for many years, her credit scores are in the mid 700's, to be exact, 770,768, 761. they would not raise her CL. her limit was 7500. she opened a amex blue account. her line was $8600, she did a BT paid it off in full, they rasied her CL to 13,600. so she calls cap one after she saw the bt was done. she tells cs to close the account. oh mam we can raise your line she said. my wife said, you had your chance, close the account. now we get 10 offers aweek from these people. so what i do, is shread the part w/our names, i send them my pizza hut coupons to them in there self-addresses envenlope, LOL at there cost. just remember to black out the bar code on the seal. (back side)
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Guest: TomfromCT Posted: Mon Mar 13, 2006 9:14 pm Bullwinkle, Thats funny about the pizza hut coupons. I have heard that complaint about Cap 1 before. I'd be happy if my 700 limit turns into 3-5 k I dont need big limits on all my cards. *****, I dont even use my cards other than for convienence and to build my credit back up. BTW: Pizza Hut is the best pizza on EARTH!
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Guest: bullwinkle29 Posted: Mon Mar 13, 2006 9:18 pm TomfromCT wrote: Bullwinkle, Thats funny about the pizza hut coupons. I have heard that complaint about Cap 1 before. I'd be happy if my 700 limit turns into 3-5 k I dont need big limits on all my cards. *****, I dont even use my cards other than for convienence and to build my credit back up. BTW: Pizza Hut is the best pizza on EARTH! what are your credit cores?? you cn apply for the amex blue if your scores are above 680.
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Mon Mar 13, 2006 9:29 pm bullwinkle29 wrote: WHY DOES ANYONE DO BUSINESS W/CAP ONE? THEY A JOKE!!!!!!!! my wife had them for many years, her credit scores are in the mid 700's, to be exact, 770,768, 761. they would not raise her CL. her limit was 7500. she opened a amex blue account. her line was $8600, she did a BT paid it off in full, they rasied her CL to 13,600. so she calls cap one after she saw the bt was done. she tells cs to close the account. oh mam we can raise your line she said. my wife said, you had your chance, close the account. now we get 10 offers aweek from these people. so what i do, is shread the part w/our names, i send them my pizza hut coupons to them in there self-addresses envenlope, LOL at there cost. just remember to black out the bar code on the seal. (back side) OVER $20,000 WITH CAPITAL ONE But then I'm stupid
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Guest: bullet875 Posted: Mon Mar 13, 2006 9:37 pm the bank I have my mortgage through (North Fork). I hope that they don't screw it up!
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Credit Card Companies Raise APR for Low Credit Score
Guest: arahad06 Post subject: Credit Card Companies Raise APR for Low Credit ScorePosted: Tue Mar 14, 2006 11:45 pm Why do the credit card companies raise your APR if your credit score is low? often times your score is low because of your financial problems (you can't pay the bill on time). if you can't even pay the minimum due, how you going to pay the APR? i have an account in which i pay $35 interest every month and my balance never goes down...i just paid off 885 to lower my balance. nonetheless, i find it ridiculous that they ask for such high APR (RIP OFF). i just don't understand why they raise the APR so high...
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Guest: rapjunkie Posted: Wed Mar 15, 2006 12:47 am They raise the APR because of the higher perceived risk, and because that's how they make their money.
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Guest: db619196 Posted: Wed Mar 15, 2006 6:44 am Remember a credit card is really an unsecured loan. So it makes sense that those who have paid late would have to pay more, simply because the risk of default is greater. On a personal level, I think the raised APRs are high, but when I think of it in terms of business, it begins to make sense. David
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Guest: Board Monitor Posted: Wed Mar 15, 2006 8:13 am Good explanation guys. Still doesn't justify 30+% rates IMHO! _________________ Best Regards, Curtis Arnold Board Monitor http://www.cardratings.com (501) 663-0314 Sign up for our free monthly e-mail newsletter!
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