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Searching for Best Credit Card Offer (cont'd.)
Guest: stilltrying Post subject: Searching for Best Credit Card OfferPosted: Thu Mar 30, 2006 1:09 am Here are some more suggestions: http://www.indexcreditcards.com http://www.consumer-action.org/press/articles/2005_credit_card_survey/ http://www.consumer-action.org/press/articles/2005_credit_card_survey/#Topic_06 http://www.consumer-action.org/press/articles/2005_credit_card_survey/#Topic_08 http://www.consumer-action.org/downloads/english/CC_Issue_2005.pdf http://www.epinions.com/Credit_Cards "Ten Good Cards": http://creditboards.com/forums/index.php?showtopic=139513 Another suggestion would be Nordstrom: http://about.nordstrom.com/aboutus/credit/visa/visa_tc.asp http://about.nordstrom.com/aboutus/credit/SignatureVisa/signature_visa_tc.asp For some people, their version of "making it" -- of finally achieving a goal that represents credit success -- is being approved for an American Express card. For me, "making it" is being approved for a USAA card and a Nordstrom credit card. I was approved earlier this year for USAA (my Equifax report is my best and cleanest report). But hopefully some day I'll have a good enough Ex report to be approved for a Nordstrom's card. I have consistently read that their service is nothing less than outstanding. I literally have never read a single bad thing about Nordstrom's credit cards. There are some reviews here: http://premiumcreditcard.cardratings.com/partners/links/cardholders/details.asp?idmin=9839&tempid=124 You can find additional reviews for Nordstrom's credit cards if you perform a search at this forum and at http://creditboards.com/forums/index.php?s=&act=Search&f= (Under "Search Where", click on "Credit Forum". You'll be able to get a lot of results just doing a search using only the word "Nordstrom") Last edited by stilltrying on Thu Mar 30, 2006 2:00 am; edited 6 times in total
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Guest: stilltrying Posted: Thu Mar 30, 2006 1:14 am I am very intrigued by Town North Bank:Quote: http://www.tnnb.com/ http://www.tnnb.com/About%20Us/ http://www.tnnb.com/About%20Us/Career%20Opportunities/ http://www.tnnb.com/About%20Us/Letter%20from%20the%20President.asp We are proud to be Texas-owned and independent since we first opened our doors in 1972 Town North Bank is one of the largest independent banks in North Dallas. TNB Card Services specializes in meeting the needs of credit unions and their members and is one of the most respected credit and debit card providers for credit unions and other financial institutions in the United States. From our centrally located home base in Dallas, TNB Card Services has successfully expanded nationally by providing a comprehensive array of products and services for credit unions in 23 other states. For 2004, all-time high processing levels of $2.55 billion in retail sales and servicing of 1.06 million credit and debit accounts were recorded. Quote: http://www.cumemberscard.com/tnb/ http://www.cumemberscard.com/tnb/CreditCardProducts.asp http://www.cumemberscard.com/tnb/custom/disclosure1.asp http://www.cumemberscard.com/tnb/custom/disclosure2.asp Last edited by stilltrying on Thu Mar 30, 2006 1:55 am; edited 1 time in total
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Guest: stilltrying Posted: Thu Mar 30, 2006 1:22 am Two more possibilities that (in my opinion) sound promising: Rainier Pacific Bank http://www.rainierpac.com/ http://www.rainierpac.com/uploads/documents/VISA_Comparison_Chart.pdf Quote: http://www.hoovers.com/rainier-pacific-financial/--ID__125259--/free-co-factsheet.xhtml Overview Rainier Pacific Financial Group was formed in 2003 as the holding company for Rainier Pacific Bank, which serves Pierce County, Washington through about a dozen branches located south of Seattle. The community-oriented savings bank, which converted from a credit union in 2001, primarily writes commercial mortgages and multifamily residential loans, (about 30% and 25% of its loan portfolio, respectively), along with consumer loans. The company also offers various insurance and investment products, including an online brokerage service. Rainier Pacific Financial's stock began trading on Nasdaq in October 2003. From the "Ten Good Cards" list: Commerce Bank http://www.commerceonline.com http://www.commerceonline.com/about_commerce/index.cfm http://bank.commerceonline.com/personal_banking/index.cfm http://bank.commerceonline.com/personal_banking/visaPlatinumCC.cfm I wish I knew more about this bank, but this thread (below) is about all I can find that has customer feedback on this bank. But what is here sounds very positive: "Fee Free Visa from Commerce Bank" http://creditboards.com/forums/index.php?showtopic=119677 Last edited by stilltrying on Thu Mar 30, 2006 1:57 am; edited 2 times in total
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Guest: stilltrying Posted: Thu Mar 30, 2006 1:51 am Then, as hesiden suggested, there is also the credit union route: Quote: How to join a credit union: "Credit Union Access!": http://creditunionaccess.com/ "CU Matchup": http://www.howtojoinacu.org/ "National Credit Union Administration": http://www.ncua.gov/ConsumerInformation/index.htm "YOUR FAVORITE CREDIT UNIONS!" http://www.debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=14799
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Guest: Board Monitor Board Monitor/ Administrator Posted: Thu Mar 30, 2006 9:41 am Dont forget our popular "Card Reports" section here: http://www.cardratings.com/cardrepfr.html Good luck and let us know how things turn out... _________________ 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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Searching for Best Credit Card Offer (cont'd.)
Guest: fenster Post subject: Searching for Best Credit Card OfferCredit Expert (100+ Posts) Posted: Fri Mar 17, 2006 8:07 pm Nathan wrote: Anyone find any good issuers other than the basics; BofA, MBNA, Chase, AMEX, HSBC, Citi, National City, credit unions...and the notoriously bad Cap1 and Providian? E*Trade Financial, a real class act of a bank. Back in 2003, it wasn’t necessary to have an account with them to apply for their platinum card. Today? You’ve to check. With E Trade you can expect below 10% fixed APR (if your score remains fairly stable), no fee for BTs and a high limit. Quote: how does RBS view other debts? Do they get shaky in the knees with some overall exposure level? What about Wells? The reason I ask is I float anywhere from $5,000 to $100,000 at any given time and AMEX, Citi, Chase, BofA are the ones that don't seem to quiver. Yes, they do “get shaky at the knees”, they’re a conservative bank who will regard your flash as a liability. _________________ beware of everything
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Guest: fenster Credit Expert (100+ Posts) Posted: Fri Mar 17, 2006 8:30 pm By the way, with glutinous corporate cannibals like BofA and the anti Christ Chase, the days of big monopolist, manipulative trusts are makin’ a come back. Choice, the bedrock of our market economy system, is being eviscerated. And who’s in the middle suckin’ on it? Decent American consumers. This credit card industry has plainly rum amuck, unless its greed is checked anytime soon, defaults may reach the trillion figure. We need a consumer advocate, maverick congressman, not unlike Erin Brokovich to take on the bas… _________________ beware of everything
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Guest: stevejk Credit Expert (100+ Posts) Posted: Mon Mar 20, 2006 10:54 am Back in the days of usury laws, there were low caps on unsecured loans. Credit cards are unsecured loans. Back in the day, credit cards were hard to come by and with low limits. If you can't charge higher interest for higher risk loans, then why take the risk. This is why "junk bonds" have higher interest rates than "safe" Treasury bonds. When the usury laws in South Dakota and New Jersey were lifted, it allowed banks to take more risk, balancing it with higher interest rates. Granted, the pendulum may have swung too far the other way, with good reliable customers being charged obscene interest rates and other fees. But then again, credit cards are just unsecured loans, unlike secured loans like car loans and mortgages. With no capital backing up the loan, they are inherently more risky. Even a good reliable customer can suffer head trauma and go wild on their CC and cause trouble. Credit cards, their fees and interest rates, are all optional, keep in mind. There is no requirement to carry a credit card or use it or go wild with it. It is a good idea to get a CC and use it responsibly so that it builds a good credit report which will help in other ways. The fees and intrest rates can all be avoided by responsible use. I have not paid an annual feed on a C in years. I have not paid a late fee or missed a payment in years. I have not paid interest charges in years. Okay, granted, mistakes happen (check lost in the mail, forgot to mail the check) but otherwise responsible. If we do go back to the days of Usury laws limiting fees and interest rates, availability of credit will dry up and annual fees will return. I'll keep my oldest card(s) for my credit history, but go back to cash, checks, or debit card for purchases.
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Guest: Polonius SENIOR MEMBER (Member for 2 yrs.+) Posted: Mon Mar 20, 2006 11:19 am There's not a change in the world we're going to go back to the old usury-limited days. Our wonderful government is controlled by the corporations who fund/bribe the politicans. (Does that sound cynical--or realistic?) That's not going to be reversed. And what was so good about the old days? I remember them--credit card interest rates were 18% if you carried a balance. That was the usury limit, and the banks charged the maximum. Today, the average rate for those carrying debts is around 13%--much better. _________________ Polonius "Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
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Guest: dropship Posted: Fri Mar 24, 2006 2:48 pm There are many banks out there that offer different card programs for rewards, low apr, etc. For instance Bank of America can have one version of American Express, but Bank of Omaha can have a totally different one. They're out there, you just have to do your research. _________________ http://www.CreditCardsChoices.com Search for Hundreds of New Credit Cards & Apply Right Online. Instant Approval
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Searching for Best Credit Card Offer (cont'd.)
Guest: Woolfman Post subject: Searching for Best Credit Card OfferPosted: Fri Sep 16, 2005 3:23 pm Nathan, as for your question about RBS I have an account with them. It is "Royal Bank of Scotland" run locally by Citizens Bank or R.I. It was a one year offer 0% interest and they gave me a $10,000.00 limit. I have not had any problems with them, except they zapped me with a trans. fee on my Initial transfer that I wasn't expecting and didn't see in the fine print. so be careful.
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Guest: Nathan Posted: Sat Sep 17, 2005 2:47 am Things are going well, thank you for asking Curtis. guessindigo: US Bank is far from sub-prime in my opinion. They've been pretty good to me. Large increases and very good terms. Woolfman: In your opinion, how does RBS view other debts? Do they get shaky in the knees with some overall exposure level? What about Wells? The reason I ask is I float anywhere from $5,000 to $100,000 at any given time and AMEX, Citi, Chase, BofA are the ones that don't seem to quiver. There must be others. Other than US Bank, FNBO and the others I've mentioned, there MUST be good alternative. NONE OF US CAN AFFORD TO HAVE ALL OUR EGGS IN ONE BASKET! Who else is out there? _________________ There are no stupid questions -- only stupid answers.
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Guest: InfoSponge3000 Posted: Sat Sep 17, 2005 12:23 pm Direct Merchant's Bank has been decent for me. I use a "Direct Rewards" Mastercard for most of my purchases.
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Guest: guessindigo Credit Expert (100+ Posts) Posted: Sat Sep 17, 2005 2:46 pm InfoSponge3000 wrote: Direct Merchant's Bank has been decent for me. I use a "Direct Rewards" Mastercard for most of my purchases. You cannot be serious? My goodness, DMB blows........
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Guest: sykai Posted: Fri Mar 17, 2006 7:03 pm I've been pre-approved for the RBS Platinum MasterCard. It says the current variable Annual Percentage Rate is 13.99%(as of 12/19/05) Does anyone have anymore inside info on this Scotland company? BTW, I am also 99% certain that I will be employed full-time very soon. I'm only part time right now, and earn less than $2000 a month. Should I lie about income? Again, should I accept? Does anyone have any experience with them?
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Searching for Best Credit Card Offer
Guest: Nathan Post subject: Searching for Best Credit Card OfferPosted: Fri Sep 16, 2005 5:38 am Hello everyone, It's been a while but I'm still around. Anyone have any experience with RBS? Are they a decent issuer? Good limits, terms, etc.? I NEED NEW CARD COMPANIES! FUSA and Bank One are now Chase and I really dislike them (they're my mortgage company too). Anyone find any good issuers other than the basics; BofA, MBNA, Chase, AMEX, HSBC, Citi, National City, credit unions...and the notoriously bad Cap1 and Providian? With all the majors combining, I don't want all my eggs in any one basket. So, who else is decent? CB&T? _________________ There are no stupid questions -- only stupid answers.
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Guest: hesiden Credit Expert (100+ Posts) Posted: Fri Sep 16, 2005 6:37 am Discover has been good to me. Love the 0% for life BT I have. You might try USAA, I've heard good things. Even Cap1 can be good to you if you are not sub prime. Providian gives you access to a FICO score (updated once a month) for free. After that the choices are much smaller banks/credit unions (relatively speaking). You could try Wells Fargo they are in the top 10. http://webgroups.biz/creditcardperks/phpBB2/viewtopic.php?t=6752
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Guest: Board Monitor Board Monitor/ Administrator Posted: Fri Sep 16, 2005 9:27 am Hey Nathan! Good to see you around again. I would give Wells a shot. How are things going your way? _________________ Best Regards, Curtis Arnold Board Monitor http://www.cardratings.com (501) 663-0314 Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: powerz3 Posted: Fri Sep 16, 2005 10:03 am WorldPerks, Aspire, United Mileage, or what about Volkswagen Platinum. Here's a list of cards other than you have mentioned: direct-credit-card.com/issuers/other -Clide
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Guest: guessindigo Credit Expert (100+ Posts) Posted: Fri Sep 16, 2005 2:13 pm VW and United are now Chase cards. US Bank is subprime IMO. Stay away from them.
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Should I merge my credit cards into one account?
Guest: creditbuilder Post subject: Should I merge my credit cards into one account? Posted: Mon Apr 03, 2006 11:32 am My oldest credit card is a capital one with no rewards, a low limit, and a high interest rate. I don't want to get rid of the card for scoring reasons, but as it is, the card is useless to me. I asked capital one if they could switch my account to a prestige mastercard, and they said they couldn't do that, I would have to apply for it as a second card. If I did that, and then merged the accounts, how would it show up on my credit report. Would it show as one card with the age of account being the age of the first card; or would I have the first card show as closed and the second card show as recently opened?
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Guest: stevejk Credit Expert (100+ Posts) Posted: Mon Apr 03, 2006 12:44 pm IMHO, as long as there is no annual fee and no annual fee for inactivity, leave it alone and apply for a better card if you have a high enough score. The advantage of leaving the oldest card alone, using it occasionally just to keep it active, gives you a longer credit history as you get better cards along the way.
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Guest: beyond platinum Credit Expert (100+ Posts) Posted: Tue Apr 04, 2006 1:25 am creditbuilder wrote: If I did that, and then merged the accounts, how would it show up on my credit report. Would it show as one card with the age of account being the age of the first card; or would I have the first card show as closed and the second card show as recently opened? What you are talking about is reallocating your limits. If you opened the new prestige card, then your old account would close and the limit would transfer to the prestige card. Don't make decisions based solely on your credit score. You also have to take into consideration how much usage you’re going to get out of the card in the future when deciding to close the old card. Also remember that even if you do decide to close the old account, it will still be reported on your credit report. _________________ "The most incomprehensible thing about the world is that it is comprehensible." --Einstein
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Can I get a lower fee in a 0% BT by calling my credit card company? (cont'd.)
Guest: bullwinkle29 Post subject: Can I get a lower fee in a 0% BT by calling my credit card company?Posted: Wed Mar 22, 2006 8:28 pm sometimes you can, if you have been a good loyal customer. i know amex has been good to us
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Wed Mar 22, 2006 9:57 pm BT FEE IS NOT REQUIRED ESPECIALLY 3% NO LIMIT THAT IS A JOKE!!!
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Guest: Ira SENIOR MEMBER (Member for 2 yrs.+) Posted: Wed Mar 22, 2006 11:52 pm Oops! I missed that. For 9 months you might make less than $100.00, but if you sit down and do the math you might just about break even. I'd walk away from it. There are much better offers out there. Example: Shell MasterCard from CitiBank is now offering BTs at 1.99% for one year, no balance transfer fee. They also doubled my credit limit, even though I never asked them to do so. That's about as good as it gets these days. _________________ Do not let what you cannot do interfere with what you can do. Ira
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Guest: Polonius SENIOR MEMBER (Member for 2 yrs.+) Posted: Thu Mar 23, 2006 10:39 am I ran the numbers and the results look like this (yes--they're hard to read...) Date Min payment CC Balance CC Interest Savings Net Interest Total Tax Owed Gross Interest March 2006 $0.00 $20,600.00 $0.00 $20,000.00 $0.00 $0.00 $0.00 April 2006 $412.00 $20,188.00 $0.00 $19,649.55 $61.55 $0.00 $78.90 May 2006 $403.76 $19,784.24 $0.00 $19,308.27 $62.48 $0.00 $80.11 June 2006 $395.68 $19,388.56 $0.00 $18,972.00 $59.42 $0.00 $76.18 July 2006 $387.77 $19,000.79 $0.00 $18,644.56 $60.33 $0.00 $77.34 August 2006 $380.02 $18,620.77 $0.00 $18,323.83 $59.29 $0.00 $76.01 September 2006 $372.42 $18,248.35 $0.00 $18,007.80 $56.39 $0.00 $72.29 October 2006 $364.97 $17,883.38 $0.00 $17,700.09 $57.26 $0.00 $73.41 November 2006 $357.67 $17,525.71 $0.00 $17,396.89 $54.47 $0.00 $69.83 December 2006 $350.51 $17,175.20 $0.00 $17,101.69 $55.32 $0.00 $70.92 So with the above scenario, borrowing $20,000 with a 3% ($600) fee and investing the proceeds at 4.8% for 9 months, assuming a 2% repayment each month from those proceeds, you wind up with $674.99 in interest received less the $600 fee for an apparent profit of $74.99. BUT you have to pay taxes on that $674.99. Suppose your tax rate is 25%. Then you wind up with $526.49--and after subtracting the $600 fee you've got a loss. Plus I haven't figured in the fact that you'd be paying purchase interest rates on the $600 fee...and that you'd actually have less time to use the offer because you have to get payments in and out before the due dates and must pay off before the end date. Interesting exercise... _________________ Polonius "Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor Board Monitor/ Administrator Posted: Thu Mar 23, 2006 11:02 am Quote: Recently I have recieved quite a few 0% Convenience Checks (Balance Transfer) offers from my existing Credit Card Companies. The Zero percent offers are good for as long as nine months. I get all excited about all the Interest Income (after depositing the checks) I can make during the nine month period UNTIL I SEE THE BALANCE TRANSFER FEE! Greetings and welcome to the board! Which credit card company are you talking about that has no cap on their balance transfer fee? I know Chase has some offers that don't have a cap. _________________ Best Regards, Curtis Arnold Board Monitor http://www.cardratings.com (501) 663-0314 Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Thu Mar 23, 2006 9:46 pm Board Monitor wrote: Quote: Recently I have recieved quite a few 0% Convenience Checks (Balance Transfer) offers from my existing Credit Card Companies. The Zero percent offers are good for as long as nine months. I get all excited about all the Interest Income (after depositing the checks) I can make during the nine month period UNTIL I SEE THE BALANCE TRANSFER FEE! Greetings and welcome to the board! Which credit card company are you talking about that has no cap on their balance transfer fee? I know Chase has some offers that don't have a cap. MBNA is "TEST MARKETING IT" US BANK tries to give it to spouse 3% NO MAX IS JUST WRONG
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Guest: unemployedandbored Posted: Tue Apr 04, 2006 9:21 am These were all Chase offers. ZERO PERCENT with a 3 percent fee, but with a $50.00 maximum for six months.
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Can I get a lower fee in a 0% BT by calling my credit card company?
Guest: unemployedandbored Post subject: Can I get a lower fee in a 0% BT by calling my credit card company?Posted: Wed Mar 22, 2006 10:41 am Recently I have recieved quite a few 0% Convenience Checks (Balance Transfer) offers from my existing Credit Card Companies. The Zero percent offers are good for as long as nine months. I get all excited about all the Interest Income (after depositing the checks) I can make during the nine month period UNTIL I SEE THE BALANCE TRANSFER FEE! On one of my credit cards I have $21000.00 in available credit but they wanted me to pay a 3% fee (no maximum) for a balance transfer/Check. The $630.00 fee would wipe out any interest profit I would make from my bank. My question is: would the Credit Card company offer me a better fee arrangement if I called them? Do you have any experiences asking for a better deal? My credit rating is great and I have no balance on any Credit Card right now.
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Guest: rapjunkie Credit Expert (100+ Posts) Posted: Wed Mar 22, 2006 12:04 pm It's definitely worth a call. You may at least be able to get them to put a cap on the fee - like how most of them cap at $75.
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Guest: Polonius SENIOR MEMBER (Member for 2 yrs.+) Posted: Wed Mar 22, 2006 12:15 pm It never hurts to call and ask. From what you tell us, you should be able to get other offers from other cards with capped fees or no fees. Why not apply for other cards? Quote: The $630.00 fee would wipe out any interest profit I would make from my bank. For a 9-month 0% offer, you'd still make a little by investing the funds in a savings account at 4.8%, assuming you make minimum payments. Also, remember, it's a bad idea to max out the offer and assume you have a full $21,000 available. (For one thing, the $630.00 fee will put you over your credit limit!). Shoot for using under 90% of your limit at all times; under 50% is better if you can stand to give up the free money... _________________ Polonius "Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
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Guest: Ira SENIOR MEMBER (Member for 2 yrs.+) Posted: Wed Mar 22, 2006 12:26 pm If you took out a $20,000.00 balance transfer and invested it at 4.8% you would make on average something over $80.00/month in interest. You'd probably end up with something like $975.00 in interest over one year. It will have cost you $630.00 for a net profit of about $345.00. You have to be the judge of whether that's worth it. _________________ 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!
Guest: Polonius SENIOR MEMBER (Member for 2 yrs.+) Posted: Wed Mar 22, 2006 6:59 pm It's a little tighter than that, Ira--in this example, the BT was just for 9 months and you have to consider that you have to make repayments each month (2%? 3%?) so you don't earn interest on the full $20K at all times. I still think you come out ahead, but not by much... _________________ Polonius "Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: TomfromCT Credit Expert (100+ Posts) Posted: Wed Mar 22, 2006 7:12 pm Polonius and Ira discussing an issue. Its like cool man. _________________ Average FICO score: 709 Average FAKO score: 703 56 Months of perfection WOOOHOOOOOO !!!!!!!!!!!!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
2% Cash Back Credit Cards Currently Available
Guest: quiznut1 Post subject: 2% Cash Back Credit Cards Currently AvailablePosted: Tue Mar 28, 2006 12:55 am Hi everyone, I want to start this thread completely devoted to the 2% cash back cards, as I know they are hard to come by. I will not include cards that give you an extra .5% cash back (resulting in 2%) for revolving a balance to the next month. I will also not list cards that have an annual fee. Here are the ones I am aware of, and feel free to add any more if I miss any. Bank of America Power Rewards Platinum Visa - 2% cash back when you redeem 50,000 points for $1,000 statement credit - 1 point per dollar spent - Points expire after 5 years, no limit to amount of points you can earn in a single year Fidelity 529 College Rewards Mastercard - 2% cash back on all purchases - Once you accrue $25 in cash back, redeem points for a deposit into your 529 plan - Limit $1,500 cash back per year NOTE: No annual 529 account maintenance fee if auto deposit of $50 monthly or $150 quarterly is made. Also, you may withdraw any or all of your $50 monthly or $150 quarterly principal at any time without penalty, tax free (as long as your account doesn't reach $0 - automatic closure in that case). HSBC True 2% Cash Back Gold Mastercard - 2% cash back on all purchases - Limit $400 cash back per year - Seems to target invites only, but this thread on fatwallet indicates you may be able to get the card by applying in a Best Buy store (for a store credit card initially, then you get a "mystery" HSBC card). It depends on what you qualify for.
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Guest: XeroK00L Posted: Tue Mar 28, 2006 1:51 pm quiznut1 wrote: Fidelity 529 College Rewards Mastercard - 2% cash back on all purchases - Once you accrue $25 in cash back, redeem points for a deposit into your 529 plan - Limit $1,500 cash back per year NOTE: No annual 529 account maintenance fee if auto deposit of $50 monthly or $150 quarterly is made. Also, you may withdraw any or all of your $50 monthly or $150 quarterly principal at any time without penalty, tax free (as long as your account doesn't reach $0 - automatic closure in that case). This thread is a great idea for newcomers, quiznut1! Reading the details of the 529 card, I just realized how to make the card work for the rest of us who have no future plans to go to a college AND have no child to build this fund for. As you said, withdrawals of principal are not subject to penalty at all (note that earnings on non-qualified college expense will be subject to federal income taxes at the distributee's rate, as well as a 10% federal penalty tax). That means, we can make auto deposit of $50 every month AND withdraw $50 every month, just to avoid the fees, right? If there are contributions from the 2% cash back from the 529 card, we can withdraw that money too, since those contributions become the new pricipal as well. Anyone sees anything that can possibly go wrong with this idea?
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Guest: quiznut1 Posted: Tue Mar 28, 2006 2:11 pm XeroK00L wrote: That means, we can make auto deposit of $50 every month AND withdraw $50 every month, just to avoid the fees, right? quiznut1 wrote: Also, you may withdraw any or all of your $50 monthly or $150 quarterly principal at any time without penalty, tax free (as long as your account doesn't reach $0 - automatic closure in that case). Reference my quote above from my first post. Your 529 cannot reach $0 in total balance or your account will be closed. When the auto $50 monthly deposit is set in place, you could withdraw $49 each month and leave $1 in there. What I would do is set up the plan, then apply for and get the 2% credit card, use the 2% card till you reach the $25 minimum cash back to deposit into the plan, and then cash out the whole principal as well as your $25 cash back. Your money you invested in the plan should have earned a little bit by then, so you can cash out and leave your earnings. Any other 2% cash back cards besides the ones I referenced, or other questions about the Fidelity 529 card?
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Guest: XeroK00L Posted: Tue Mar 28, 2006 2:20 pm quiznut1 wrote: Reference my quote above from my first post. Your 529 cannot reach $0 in total balance or your account will be closed. When the auto $50 monthly deposit is set in place, you could withdraw $49 each month and leave $1 in there. What I would do is set up the plan, then apply for and get the 2% credit card, use the 2% card till you reach the $25 minimum cash back to deposit into the plan, and then cash out the whole principal as well as your $25 cash back. Your money you invested in the plan should have earned a little bit by then, so you can cash out and leave your earnings. Any other 2% cash back cards besides the ones I referenced, or other questions about the Fidelity 529 card? Haha, yup yup, well said. I saw the >$0 restriction but just didn't include the note in my post. Forget about the Power Rewards whose 2% requirement is hard to achieve and wastes your interest earnings during the lengthy accumulation, and forget about the HSBC/Household card that is not only hard to get but also usually comes with a low credit line. I think with the approach above the 529 card should be THE card to get for EVERYONE, particularly those who are looking for a "my wallet is only big enough for one card" solution. EDIT: For that matter, forget about the Blue Cash as well wahaha.
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Guest: quiznut1 Posted: Tue Mar 28, 2006 10:14 pm Yeah you're right...haha Any other 2% credit cards I didn't mention already that are available right now as we speak? Does anyone think we will see another flat 2% credit card become available later in 2006?
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Guest: tahoemark Posted: Tue Apr 04, 2006 1:34 pm I checked on the b of a card and it shows only 1% cash back rewards https://con.bofarewards.com/Search.cfm?category_id=199&searchtype=Category so if that 2 % exists I would like to know. Any other suggestions, I'm a big spender (for work) spend over 150k per year need a high limit high reward card. thanks
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Guest: XeroK00L Posted: Tue Apr 04, 2006 3:09 pm tahoemark wrote: I checked on the b of a card and it shows only 1% cash back rewards https://con.bofarewards.com/Search.cfm?category_id=199&searchtype=Category so if that 2 % exists I would like to know. Any other suggestions, I'm a big spender (for work) spend over 150k per year need a high limit high reward card. thanks The 2% and 1.5% cash back options have been taken offline, but are still available by phone. Not going away just yet but it's risky if you can't spend $50,000 quickly enough. http://webgroups.biz/creditcardperks/phpBB2/viewtopic.php?t=8310 Why not try the strategy I suggested for the Fidelity 529 card? Seems to be a safer bet to me.
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Best Cash Back Credit Card
Guest: tahoemark Post subject: Best Cash Back Credit CardPosted: Tue Apr 04, 2006 2:10 pm Hi all, Ok--It's not my money-- but with my business I spend around 200k per year on my personal credit cards. I have a Fidelity Investment Rewards card at 1.5% cash back but it caps out with 100k of spending. I noticed the emigrantdirect card at 1.4% (with 10k savings account) and no annual limit? Any other ideas? Also wonder if I could get a Fidelity 529 card too? Or do you think they wouldn't let me get away with that? Thanks mark
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Guest: XeroK00L Posted: Tue Apr 04, 2006 3:12 pm You can always get multiple Fidelity cards, each with a $1,500 earning cap.
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Guest: quiznut1 Posted: Tue Apr 04, 2006 3:47 pm My suggestion: Bank of America Power Rewards Visa Platinum 1 point for every dollar spent No limit to the amount of points you can earn in 1 year Redeem 50,000 points for $1,000 statement credit, Equivalent of 2% cash back on all your purchases Points don't expire for 5 years.
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Purpose Advantage Credit Card Issued by First Bank of Deleware
Guest: mongoslade Post subject: Purpose Advantage Credit Card Issued by First Bank of DelewarePosted: Tue Apr 04, 2006 1:11 pm Has anyone heard of a "Purpose Advantage Card" issued by First bank of Deleware? Seems to have a lot of fees but I was wondering would it be a good card to restablish credit? I have Orchard and New Millinium so far. Thanks
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Guest: stilltrying Posted: Tue Apr 04, 2006 3:44 pm According to my reading, this is a card to stay far far away from. http://thepurposeadvantagecard.com/terms.html http://thepurposeadvantagecard.com/faqs.html http://thepurposeadvantagecard.com/signup.form Quote: http://www.answers.com/topic/discover-card On November 1, 2005 Discover Network and Purpose Solutions, LLC, a subsidiary of CompuCredit Corporation primarily known for issuing the Aspire Visa, announced that Purpose Solutions will issue a card on the Discover Network. Click -->here <-- for a link to information about Compucredit. (If the link at some point does not work, then head to http://www.ripoffreport.com , scroll down the screen until you see the name "Compucredit" over in the far right-hand column, and then click on that) Quote: "Purpose Advantage Discover, Anyone have this card or receive their offer?" | --> " gowhereuwannago Dec 26 2005, 07:10 PM I just received an offer for the Purpose Advantage Discover card. It looks like it starts with a $50 per transaction limit, and a $2.99 per transaction fee, rather than a percentage rate. It states that they report to all 3 bureaus, but if it's only a $50 limit, that isn't so helpful. Any feedback appreciated. The link (for the terms) is below... Link removed by Admin." | --> " LKH Dec 26 2005, 07:13 PM Do yourself a favor, if you need a new tradeline, get yourself a secured card from BofA or National City. You won't get charged per transaction and have a pathetic $50 per transaction limit." | --> " gowhereuwannago Dec 26 2005, 07:16 PM I did just activate my Crown Jewelers, and my BOA secured app is in the mail as well. I am also thinking of adding a US Bank secured for the miles (WorldPerks) as well. I wonder how long it will take for these tls to improve my scores?" | --> " Shawnee Dec 26 2005, 07:19 PM What LKH said. Do not, I repeat DO NOT apply for this offer. It is a complete ripoff." | --> " hegemony Dec 26 2005, 07:25 PM affiliate []??? " | --> " hurricanesfans27 Dec 26 2005, 07:25 PM major ripoff. they not only get the fee from the merchant then turn around and stick you with a bigger fee. not even close to being worth it." | --> " LKH Dec 26 2005, 07:30 PM To the OP: I'm removing the link from your post as I don't want anyone thinking this is a good deal or a quick fix and applying for it. It's just not needed and is a complete ripoff." | --> " gowhereuwannago Dec 26 2005, 07:32 PM Thanks, LKH - just posted the link so others could read the terms and provide feedback. Definitely NOT trying to advertise for anyone!" | --> " gowhereuwannago Dec 26 2005, 07:36 PM Okay... found some additional info (after much searching). The scam is that this is set up like a cash advance, and there is a fee per transaction, then you pay in full for each transaction. DEFINITELY should be stayed away from!!! Thanks for everyone's feedback!" | --> " hegemony Dec 26 2005, 07:38 PM have you tried for a secured card?" | --> " gowhereuwannago Dec 26 2005, 07:40 PM Yes - just ordered my BOA secured, so hopefully that will be in the mail soon. I have also just activated my Crown Jewelers." | --> " tmcgill Mar 6 2006, 02:59 PM I am shocked that the Discover card folks would lend their name for such a scam. Is this their way of "dirtying their hands" in the subprime market? Just a quick scan of the agreement screams - run don't walk away from this card." | --> " buddyo Mar 6 2006, 03:04 PM Perhaps it is their way. Some people might have a thing for Discover. LOL. It is certainly NOT a good deal, but assuming they don't violate their pricey terms, it's not a full-fledged scam but merely a bad/pricey card. $2.99 per use.. ouch. The annual and monthly fee total a relatively (to first premier) meager $40 a year, but using it could be pretty dang expensive." | --> " buddyo Mar 6 2006, 03:06 PM And, they use arbitration and other stipulations in the terms. Yikes! It also deducts the monthly fee and charged amounts from your checking account automatically so you can't use it to carry a balance for very long. National City and the other good guys are looking better by the day." | --> " buddyo Mar 9 2006, 05:05 PM ASPIRE = PURPOSE ADVANTAGE DISCOVER. Ain't research great? FYI.. to give everyone an idea of who runs this thing. A person or two mentioned this card, and I think it's good for people to know whom they are sleeping with even if it is an old thread. On November 1, 2005 Discover Network and Purpose Solutions, LLC, a subsidiary of CompuCredit Corporation primarily known for issuing the Aspire Visa, announced that Purpose Solutions will issue a card on the Discover Network. Source: http://www.answers.com/topic/discover-card
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Guest: stilltrying Posted: Tue Apr 04, 2006 4:00 pm For those that need to re-establish good credit, the advice that I've frequently seen given is to open a secured card:Quote: Meaning that you have to deposit some funds with the lending institution, and whatever amount you deposit would be your credit limit. Starts with minimum $500, and in $100 increments over that. They will, in return give you a Visa card. You use it for purchases just like a regular Visa card, and you will get a bill. You then pay the bill off when it is due. Note -- this amount WILL NOT be deducted from your deposit. If you do this for about an year, on time, your credit history will improve. Which is the whole purpose of getting a secured card. more information on secured credit cards:Quote: bankrate.com/brm/green/cc/crdt1c3.asp Build credit history with a secured card If you had $100,000 in CDs, paid all your bills on time but never owned a credit card, it's possible you would have a problem getting a credit card. Why? Because you have no credit history. It happens to thousands of people. They're worth 100 times the credit line they seek on a Visa or MasterCard, yet the bank says no. There's a solution: A secured credit card. They are easy to get and several have highly competitive rates and fees. A secured card is one in which you open a savings account -- it could be a CD -- and agree that the card-issuing bank can use those funds to pay off your card balance if you cannot. In essence, you are guaranteeing your line of credit with the deposit. Secured credit cards aren't the domain of deadbeats and bankrupt people, as you might suspect. And the cards look and operate no differently from the regular credit cards your friends are using. The institutions offering secured cards are some of the best-known in the nation--Key Federal, Bank One, Household Bank, Chase Manhattan Bank USA and Citibank/South Dakota. Look through the list of institutions and read not just the rates and fees, but the restrictions. They usually require that you be a U.S. citizen and have a Social Security or taxpayer identification number. Beyond that, some issuers say they turn down individuals with past credit problems. But if you have never had credit at all, you're likely to be approved. A secured credit card is just the first step. Once you have built a solid credit history over 12 months or more, you can apply for an unsecured card. Or, you can talk to the card issuer about converting from your present card to a regular card. examples:Quote: Bank of America: bankofamerica.com/creditcards/?template=secured_plat_visa U.S. Bank: usbank.com/cgi_w/cfm/creditcards/secured/usb_secured_card.cfm Wells Fargo: wellsfargo.com/credit_cards/select_card/secured/ .... or open a credit card with your local credit union:Quote: "Credit Union Access!" creditunionaccess.com/ "CU Matchup" howtojoinacu.org/ "National Credit Union Administration" ncua.gov/ConsumerInformation/index.htm
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