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American Express Starwoods Credit Card vs. AmEx Hilton Card
Guest: spjoink Credit Expert (100+ Posts) Post subject: American Express Starwoods Credit Card vs. AmEx Hilton CardPosted: Thu Aug 24, 2006 3:12 am yes , if i want to say something bad i say it in Norwegian _________________ Den eneste Norske Viking pa dette forum
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Guest: creditnewbie Credit Expert (100+ Posts) Posted: Thu Aug 24, 2006 5:38 am I think with amex, you need to apply for the other card because they told me once that I couldn't switch card types. I'm not too crazy about the hilton card. Starwoods is better and if you have AMEX platinum, you become a gold member automatically. Actually, you don't need a starwood card if you have platinum amex. I know the fee is high but the savings are much greater IF you travel very often.
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Guest: spjoink Credit Expert (100+ Posts) Posted: Thu Aug 24, 2006 11:03 am really, well i have a platinum amex, thanks for the info! _________________ Den eneste Norske Viking pa dette forum!
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Some American Express Credit Cards can be Upgraded
Guest: spjoink Credit Expert (100+ Posts) Post subject: Some American Express Credit Cards can be UpgradedPosted: Thu Aug 24, 2006 2:57 am aha...are you telling me i can get the starwood ..?
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Thu Aug 24, 2006 2:59 am Quote: "spjoink" aha...are you telling me i can get the starwood ..? I AM NOT TELLING ANYBODY ANYTHING SINCE ALL I DO IS LIE ...and I have to clear all my posts with the new POST POLICE (that are newbies themself)
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Guest: spjoink Credit Expert (100+ Posts) Posted: Thu Aug 24, 2006 3:05 am Did you have a bad day today ? Where is my steak dinner at John waynes airport....hehe
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Thu Aug 24, 2006 3:11 am Quote: "spjoink" Did you have a bad day today ? Where is my steak dinner at John waynes airport....hehe Have you been NEWBIE POLICE CLEARED???
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American Express Gold Delta Credit Card Upgrade to Hilton HHonors?
Guest: Arcangel79 Post subject: American Express Gold Delta Credit Card Upgrade to Hilton HHonors?Posted: Wed Aug 23, 2006 9:55 pm I was just approved for the AMEX Gold Delta card (I already have AMEX Blue) last night. Today, I received a pre-approval for the Hilton HHonors platinum card. This is the card that I really want...as I will definitely make use of it. My question is: If I ask AMEX, do you think that they would let me switch the Gold Delta card for the Hilton HHonors one? All replies would be appreciated.
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Wed Aug 23, 2006 9:59 pm Quote: "Arcangel79" I was just approved for the AMEX Gold Delta card (I already have AMEX Blue) last night. Today, I received a pre-approval for the Hilton HHonors platinum card. This is the card that I really want...as I will definitely make use of it. My question is: If I ask AMEX, do you think that they would let me switch the Gold Delta card for the Hilton HHonors one? All replies would be appreciated. YES...YOU CAN TRADE AMEX "CREDIT" CARDS You may have to call more than once before you get somebody with a CLUE
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Guest: spjoink Credit Expert (100+ Posts) Posted: Thu Aug 24, 2006 1:47 am Mouse, they only trade certain cards...for ex...amex blue cash to amex blu etc...they wouldnt trade my amex blue for a starwood, i just inquired 3 days ago...by the way the starwood is a much better card than the Hiltonhhonors
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Thu Aug 24, 2006 2:55 am Quote: "spjoink" Mouse, they only trade certain cards...for ex...amex blue cash to amex blu etc...they wouldnt trade my amex blue for a starwood, i just inquired 3 days ago...by the way the starwood is a much better card than the Hiltonhhonors You have to call back till you get somebody with a CLUE
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Discover Business Credit Card Offer
maddybeagle Credit Expert (100+ Posts) Post subject: Discover Business Credit Card OfferPosted: Thu Aug 24, 2006 11:38 am I think we have had a little disc. on this one? Anybody have any luck getting this one....I recently applied and it has been one call after another with them....Approved for other biz cards fairly easily...
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MBNA Credit Card Reporting Mid-Cycle
Guest: shan Post subject: MBNA Credit Card Reporting Mid-CyclePosted: Thu Aug 24, 2006 1:59 pm My BOA/MBNA amex rewards card is already reporting to CBs and my cycle doesn't end til the 11th. My first cycle ended about a week after I got the card. I paid in full as soon as I got the statement. That balance was reported to CB, but it changed today. Now they have my current balance listed. Is it common for them to report 2x month or more?
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Thu Aug 24, 2006 2:04 pm Quote: "shan" My BOA/MBNA amex rewards card is already reporting to CBs and my cycle doesn't end til the 11th. My first cycle ended about a week after I got the card. I paid in full as soon as I got the statement. That balance was reported to CB, but it changed today. Now they have my current balance listed. Is it common for them to report 2x month or more? I made 5 payments to CAPITAL ONE (in one month) and the CRA's were updated 5 times The credit card companies can update at any time ALTHOUGH they usually update in the fist 5 days of the month or in the first 5 days AFTER the statement date I have had them UPDATE after a large BT But they won't always UPDATE after a large payment
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Want to Cancel my Credit Card
Guest: nb Post subject: Want to Cancel my Credit Card Posted: Thu Aug 24, 2006 1:20 pm I want to cancel a fee charging cc, but I was told canceling has a negative affect on cc score. This cc charges the fee regardless of use. Help
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Guest: maddybeagle Credit Expert (100+ Posts) Posted: Thu Aug 24, 2006 1:47 pm The general advice is not to close an account UNLESS it charges a fee...you might want to look to see if the card can be changed into another card that the issuer doesnt charge a fee on...or see if the the fee can be waived...probably will offer anyway when ask to have it closed...
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Thu Aug 24, 2006 2:14 pm Quote: "nb" I want to cancel a fee charging cc, but I was told canceling has a negative affect on cc score. This cc charges the fee regardless of use. Help Is this one of those cards with a $250 credit limit but when all the FEES are added you can spend $14 CLOSE IT Get a card from a bank that you put money in a savings account (SECURED CARD)
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Guest: nb Posted: Thu Aug 24, 2006 2:26 pm Both of the posted suggestions are in the works Yet, Capital One, now merged with Hibernia, has stopped their fee waiver policy. :!:
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MBNA will Take Over Credit Card Division of BoA?
Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Post subject: MBNA will Take Over Credit Card Division of BoA?Posted: Wed Aug 23, 2006 2:37 am Quote: "cled" if i may ask: if this has not been covered in previous posts: who would take over the credit card division, would it be the MBNA underwriters or those from BofA? MBNA
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Guest: cled Posted: Wed Aug 23, 2006 2:45 am mouse wrote: Quote: "cled" if i may ask: if this has not been covered in previous posts: who would take over the credit card division, would it be the MBNA underwriters or those from BofA? MBNA thanks, Mouse- i thought i heard/read that Bruce Hammonds, CEO (MBNA) will only head the Credit Division.. BofA personnel will still underwrite applicatons... my info could be wrong though...
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Wed Aug 23, 2006 7:48 am They already have messed with the company BT WISE 3% or 4% (NO MAX) or $90 MAX BofA WAS NO MAX MBNA WAS $75 MAX AND THE MERGER IS NOT EVEN A DONE DEAL
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Guest: Bikshu Posted: Thu Aug 24, 2006 1:42 am I hate to do this, but once again Mouse you are completely wrong on all of your information. MBNA started doing No Max BT fees in November 2004 with a Change In Terms (CIT) on select accounts that went into effect in January 2005. A couple million more accounts recieved a similar CIT that became effective in April 2005, another CIT became effective August 2005, and a third one effective April 2006. Additionally, almost every MBNA branded account opened after May 2005 that offered a 0% Promo Rate has had a No Max fee. It had nothing to do with the BOA deal, it had to with the fact that the Prime Rate started to skyrocket beginning in June 2004. A dramatic change in the cost of funds will always impact loan terms. The proof of this is that the BOA/MBNA deal wasn't even announced until June 30, 2005. By this point millions of existing MBNA accounts and almost all new ones were already No Max fee accounts. The merger then received Federal Reserve approval on December 15 and officially closed on January 1, 2006. So it has been a done deal for nearly nine months now, you can Wikipedia that for further proof if you'd like. Do you just make up this garbage that you spew out man? One of these days you are going to give someone bad advice, they'll be stupid enough to take it, and you'll potentially ruin their life. How do you sleep at night? Cled, you are correct that Bruce Hammonds has assumed leadership over Bank of America's US Credit Card Services Division... with another MBNAer named Shelly Waite directly beneath him. Ken Lewis, the CEO of Bank of America, still retains his exact same position to this day. The only major structural change was that MBNA assumed control over Bank of America credit card operations, but it does so under the BOA brand name. In other words BOA has adopted MBNA's computer systems, marketing strategies, fraud strategies, collections methods, etc. As far as personnel goes CSRs, Credit Analysts, Divisional Management and everyone in between have all been trained by MBNA employees on MBNA systems and MBNA policies. Now in response to your original question, if you want to know who is underwriting (financially backing) the credit card accounts then the answer is Bank of America. Bank of America holds more depository assets than any other bank in the US. This includes money held in checking accounts, savings accounts, CDs, etc. In fact, by Federal law no bank may hold more than 10% of all deposits in the country... and Bank of America is currently around 9.99%. In other words, the bank is so big that it legally cannot buy another depository institution. Now it must grow organically, either through internal expansion or through expanding into other areas of banking. This is one of the main reasons they bought MBNA in the first place... they literally had so much money that they didn't know what to do with some of it anymore. They recognized that credit cards give a higher return on investment than do T-Bills and the like, so they went out and acquired the best they could... MBNA. So it is the money held in BOA's checking accounts and other deposits that is financially backing, or underwriting, the entire credit card portfolio. Hope this helps...
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Look for Credit Card with Best Terms
Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Post subject: Look for Credit Card with Best TermsPosted: Tue Aug 22, 2006 2:14 pm Quote: "BLT" But what's the difference between BoA Gold and Platinum cards? Both cards appear to have the exact same terms... I do wish BoA would come out with a good rewards card so I could convert to it and get some good use from them WHEN YOU CAN GET A $200 PLATINUM...it doesn't really mean anything (it did mean something 10 or 20 years ago) LOOK FOR THE BEST TERMS APR ANNUAL FEE "REWARDS"
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Tue Aug 22, 2006 2:18 pm Quote: "hesiden" Bikshu wrote: Now our transparent accounts are unfortunately a different story for the time being. I like mbnanetaccess...well I like the billpay, free float and consolodating the payments so I don't go over the maximum 6 withdrawls/month allowed by savings account s. I just signed up for the Fidelity 529 card last night. Any idea what will happen to the transparent accounts like Fidelity? BTW, can a Fidelity card be used as a funding source for mbna's billpay the same way "normal" mbna card can? On another web site somebody just got their MBNA card(s) closed for excessive use of the BILL PAY PROGRAM (just a free warning)
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Guest: hesiden Credit Expert (100+ Posts) Posted: Tue Aug 22, 2006 3:15 pm mouse wrote: Quote: BTW, can a Fidelity card be used as a funding source for mbna's billpay the same way "normal" mbna card can? On another web site somebody just got their MBNA card(s) closed for excessive use of the BILL PAY PROGRAM (just a free warning) I've seen that thread on the "other" site. I'm using it pretty normally I believe and I've gotten recent auto CLI and a hard free CLI on asking so I think I"m good.
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Guest: cled Posted: Wed Aug 23, 2006 2:30 am if i may ask: if this has not been covered in previous posts: who would take over the credit card division, would it be the MBNA underwriters or those from BofA?
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Changes with MBNA and Bank of America Credit Cards
Guest: BLT Post subject: Changes with MBNA and Bank of America Credit CardsPosted: Sat Aug 19, 2006 8:18 pm Bikshu wrote: Quote: Changing topics just a little, do we know which web interface we'll be using after the transition is all over with MBNA? I do love that MBNA shows temp charges. An excellent question! We are just now getting information about the "little things" like this. From what I understand, all non-transparent accounts will begin to use BOA's online banking (OLB) system around the end of 2006 or very beginning of 2007. This is a very good thing as their online banking puts ours to shame. I agree that the Current Activity feature on mbnanetaccess.com is beautiful, but that should be fairly easy to add into BOA's system in the near future I would think. Other than that one feature though, even MBNA itself admits that it was a late comer to the online banking arena. Also, we have some shady policies with respect to our OLB that are specifically designed to encourage late payments and revolving a balance: 1. Free OLB payments take two days to post, while even Cap 1 allows for same day posting. 2. There is no option to have the minimum due or new balance total automatically paid off each month. You have to select a fixed dollar amount for all auto payments. As far as I'm aware, BOA OLB does not have these two shady policies. Also BOA is more Quicken and Microsoft Money friendly than mbnanetaccess. Hopefully they'll take the nice features of ours and incorporate them into BOA's interface. That's my wishfull thinking at least. Now our transparent accounts are unfortunately a different story for the time being. Remember, transparency means that even though the account is MBNA I cannot let you know that it is MBNA. This is because the organization that the account is affiliated with (its "affinity group") does not want their customers to know that they don't handle their own accounts. Prime examples are MBNA accounts through PNC Bank, Suntrust, Amtrust, Merrill Lynch, Charles Schwab, Fidelity Investments, credit unions, etc. According to the contracts that the two banks sign, if transparency is broken MBNA/BOA becomes subject to astronomical fines on the order of $5,000 to $20,000 for each instance. Unfortunately, we are currently having a gigantic problem right now with CSR's breaking transparency on calls and getting caught by representatives from the affinity group. Just recently a Vice President from Bank XXX called up to activate his own card and the CSR said something along the lines of "Welcome to Bank of America, we thank you for joining us on this brand new account." Needless to say, the VP was furious and contacted top-brass at MBNA immediately. $20,000 is a pretty hefty fine just for a momentary accidental slip of the tongue by a CSR. Even more importantly, these other banks then begin not trusting MBNA to remain transparent and cancel their contracts with us. MBNA has thus taken some absolutely huge measures to prevent things like this from happening going forward, and part of that is impacting our OLB operations. MBNA's current transparent website is ibsnetaccess.com. IBS stands for Individualized Bankcard Services, MBNA's old transparent name before it changed it to FIA Card Services. And from what we've been told, transparent accounts will have to continue using this site for quite a while still. Until the middle of 2007 at the very earliest, but probably more like the beginning of 2008. Its simply being done to keep these transparent customers as far away from www.bankofamerica.com as possible. At least until we can design a fully functional transparent website and not risk accidentally routing someone to a BOA link. VERY interesting information Thanks for hanging out here and giving us this inside look!!
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Guest: wierdo Posted: Sat Aug 19, 2006 8:20 pm creditnewbie wrote: With BoA, the difference is the credit limit. To have a platinum BoA visa, the limit has to be at least $5K not 10K. Mine was issued with a $4500 CL. At least as far as the look of the card is concerned, I'd rather have the gold card. :p
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Guest: Bikshu Posted: Sat Aug 19, 2006 8:55 pm Quote: I'm a little puzzled by the "transparency" issue. I have a a Fidelity Investments Platinum Plus card--and on its back it says "By signing or using this card, issued by MBNA America Bank, N.A., pursuant to a license from Visa U.S.A. Inc., the Customer agrees to the terms of the issuing bank's credit card agreement." Doesn't everyone know that such cards are issued by MBNA? It's right on the card itself! What's the big secret? We legally must disclose that it is our account, I cannot lie to you in any way. And all credit cards legally must carry the name of the issuing bank somewhere on the card. We are simply supposed to keep it as far from being obvious as possible. So Fidelity is OK with my card saying MBNA on it, they know the law as well as anyone. They just don't want me flaunting that fact. And believe it or not, most people really do not notice the fine print like that. I remember like it was yesterday when I took a call from an OB/GYN in NYC last year. This particular fellow had cards through Wachovia, Lufthansa Airlines, LL Bean, the New York Yankees, the New York Giants, Georgetown University, AND the American College of OB/GYNs. He called in becuase he lost his wallet and wanted to put a freeze on the Wachovia card. Since it was the middle of the night and our staffing was very low, his call somehow ended up being routed to me over in the transfer division. On this type of call I am allowed to break transparency, because I need to freeze out all of those other accounts as well to mitigate fraud potential. When I mentioned that I could freeze those other accounts as well so he didn't need to call back in, the good doctor was astonished that I managed all of them... it was basically every card in his wallet. The conversation went something along the lines of: Cardholder: "How did Wachovia get so damn big so damn fast? I knew you guys were growing but I had no idea you even do my Yankees card." Me: "No sir, these are all MBNA accounts." Cardholder: "What the ***** is MBA? What does a Masters in Business have to do with Wachovia?" Me: "No Sir, MBNA. We are the bank that manages all of these accounts." Cardholder: "Never heard of ya." This was a doctor for crying in the bloody bucket! So the answer really is no, my friend. You are simply much more perceptive than most. But then most people also would not take the time to discuss credit issues at a forum such as this, so there's further proof that you are...
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Guest: hesiden Credit Expert (100+ Posts) Posted: Tue Aug 22, 2006 2:01 pm Bikshu wrote: Now our transparent accounts are unfortunately a different story for the time being. I like mbnanetaccess...well I like the billpay, free float and consolodating the payments so I don't go over the maximum 6 withdrawls/month allowed by savings account s. I just signed up for the Fidelity 529 card last night. Any idea what will happen to the transparent accounts like Fidelity? BTW, can a Fidelity card be used as a funding source for mbna's billpay the same way "normal" mbna card can?
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Want to Upgrade my Credit Card Account
Guest: hdporter Credit Expert (100+ Posts) Post subject: Want to Upgrade my Credit Card AccountPosted: Sat Aug 19, 2006 7:26 pm Okay, but how often are accounts upgraded. I've had the sense that it's more typical for the issuer to have you apply for a new account with the upgraded terms. In that case, the account history starts from scratch. - H.
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Guest: Bikshu Posted: Sat Aug 19, 2006 7:50 pm Quote: Changing topics just a little, do we know which web interface we'll be using after the transition is all over with MBNA? I do love that MBNA shows temp charges. An excellent question! We are just now getting information about the "little things" like this. From what I understand, all non-transparent accounts will begin to use BOA's online banking (OLB) system around the end of 2006 or very beginning of 2007. This is a very good thing as their online banking puts ours to shame. I agree that the Current Activity feature on mbnanetaccess.com is beautiful, but that should be fairly easy to add into BOA's system in the near future I would think. Other than that one feature though, even MBNA itself admits that it was a late comer to the online banking arena. Also, we have some shady policies with respect to our OLB that are specifically designed to encourage late payments and revolving a balance: 1. Free OLB payments take two days to post, while even Cap 1 allows for same day posting. 2. There is no option to have the minimum due or new balance total automatically paid off each month. You have to select a fixed dollar amount for all auto payments. As far as I'm aware, BOA OLB does not have these two shady policies. Also BOA is more Quicken and Microsoft Money friendly than mbnanetaccess. Hopefully they'll take the nice features of ours and incorporate them into BOA's interface. That's my wishfull thinking at least. Now our transparent accounts are unfortunately a different story for the time being. Remember, transparency means that even though the account is MBNA I cannot let you know that it is MBNA. This is because the organization that the account is affiliated with (its "affinity group") does not want their customers to know that they don't handle their own accounts. Prime examples are MBNA accounts through PNC Bank, Suntrust, Amtrust, Merrill Lynch, Charles Schwab, Fidelity Investments, credit unions, etc. According to the contracts that the two banks sign, if transparency is broken MBNA/BOA becomes subject to astronomical fines on the order of $5,000 to $20,000 for each instance. Unfortunately, we are currently having a gigantic problem right now with CSR's breaking transparency on calls and getting caught by representatives from the affinity group. Just recently a Vice President from Bank XXX called up to activate his own card and the CSR said something along the lines of "Welcome to Bank of America, we thank you for joining us on this brand new account." Needless to say, the VP was furious and contacted top-brass at MBNA immediately. $20,000 is a pretty hefty fine just for a momentary accidental slip of the tongue by a CSR. Even more importantly, these other banks then begin not trusting MBNA to remain transparent and cancel their contracts with us. MBNA has thus taken some absolutely huge measures to prevent things like this from happening going forward, and part of that is impacting our OLB operations. MBNA's current transparent website is ibsnetaccess.com. IBS stands for Individualized Bankcard Services, MBNA's old transparent name before it changed it to FIA Card Services. And from what we've been told, transparent accounts will have to continue using this site for quite a while still. Until the middle of 2007 at the very earliest, but probably more like the beginning of 2008. Its simply being done to keep these transparent customers as far away from www.bankofamerica.com as possible. At least until we can design a fully functional transparent website and not risk accidentally routing someone to a BOA link.
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Guest: Polonius SENIOR MEMBER (Member for 2 yrs.+) Posted: Sat Aug 19, 2006 7:56 pm I'm a little puzzled by the "transparency" issue. I have a a Fidelity Investments Platinum Plus card--and on its back it says "By signing or using this card, issued by MBNA America Bank, N.A., pursuant to a license from Visa U.S.A. Inc., the Customer agrees to the terms of the issuing bank's credit card agreement." Doesn't everyone know that such cards are issued by MBNA? It's right on the card itself! What's the big secret? _________________ Polonius "Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
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Guest: Bikshu Posted: Sat Aug 19, 2006 8:17 pm Quote: Okay, but how often are accounts upgraded. I've had the sense that it's more typical for the issuer to have you apply for a new account with the upgraded terms. In that case, the account history starts from scratch. That is usually the case, but its a bit different with MBNA cards. We are pretty darned good about offering upgrades to people if we think it will encourage usage. Right this very moment we are automatically forcing upgrades on a large number of inactive Visas and Mastercards, turning them into BOA American Express Rewards cards. This is done whether the cardholder wanted it or not, just because the account was sitting dormant for a year or two anyway so we figured why the heck not. We are also offering a huge population of accounts the option to upgrade to these same BOA AmEx Rewards cards. Some of these upgrades even offer a $100 or $250 American Express Gift Card as a thank you for accepting the upgrade!! These are rare and obviously by invitation only to cardholders we really value, but they are out there. But even if we don't offer an automatic upgrade to you, you can still always request one at any time. There are just a few criteria your account has to meet in order to be eligible. Most important is that the account be non-transparent. Many affinity groups only offer certain types of cards so we can't offer anything else unless you pull that affiliation off the account. Further complicating this is the fact that we cannot pull some affiliations since it is against our contract with the affinity group. Examples: Wachovia, PNC, Merrill Lynch, Charles Schwab, Fidelity Investments, etc. With these groups the only option is to close the account and reopen the new better card. Additionally, your account must be perfectly up to date and cannot have EVER gone 90 days past due or worse. You must also be willing to forfeit whatever rewards points you currently have on your account, or at least use these existing ones and then ask for the upgrade. And the account cannot be a combination account, meaning that you have both a Visa card and a Mastercard tied to the same exact account (these are rare as we stopped offering these in the early 90s). Your credit line must also be sufficient to handle the upgraded card. So a $2,000 credit line cannot be upgraded to a Quantum card or a Visa Signature, its just a no-no. Finally, you cannot recieve a contract rate change (CRC) while simultanesouly receiving an upgrade... it just overloads our computer systems and cannot be done. So what I do to get around this is I process the CRC to take effect at the beginning of your next billing cycle. I will then pend your account (put it in my computer calendar to bring up at a later date) and once the CRC has taken effect I will process the upgrade request. It takes a month or so this way and is a ***** of a lot of extra work for me, but if it makes you use my card I'm good with it. You can call 1-800-421-2110 anytime day or night to ask if you qualify. Just decide what type of card it is you want (Quantum, Visa Signature, World Mastercard, AmEx Rewards, etc.) and ask nicely. But remember, if I upgrade you and then you still don't use me for any regular retail shopping... I may not be so nice the next time you ask me for something!!!
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Bank of America Platinum Visa Credit Card has $5K Credit Limit
Guest: creditnewbie Credit Expert (100+ Posts) Post subject: Bank of America Platinum Visa Credit Card has $5K Credit Limit Posted: Sat Aug 19, 2006 6:19 pm With BoA, the difference is the credit limit. To have a platinum BoA visa, the limit has to be at least $5K not 10K.
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Guest: BLT Posted: Sat Aug 19, 2006 6:52 pm Once you get past that inital limit though (I'm at well over 10k with my Gold), is there anything different at all?
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Guest: gsr Posted: Sat Aug 19, 2006 7:06 pm creditnewbie wrote: With BoA, the difference is the credit limit. To have a platinum BoA visa, the limit has to be at least $5K not 10K. not sure but my platinum card has only 1k limit but its a student card.
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Guest: Bikshu Posted: Sat Aug 19, 2006 7:12 pm Quote: If I decide to upgrade my gold card (looking for a low apr visa for my main card) will it affect my history length? The boa gold was my first card. No sir, but good question. An MBNA account upgrade/conversion will retain the same open date as the original. It really is the same account, just with a new number on the front of the card. As an example: imagine that you lost your card somewhere, and wanted me to reissue you one with a new number for security purposes. Same thing, just now it has points...
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Bank of America Gold and Platinum Credit Cards Identical?
Guest: multiplierx Post subject: Bank of America Gold and Platinum Credit Cards Identical?Posted: Sat Aug 19, 2006 12:04 am I have looked at the BOA Gold and Plat cards several times over the past year trying to find a difference. They've been identical. _________________ Total interest paid on cards = 0.00 Amount of cash/rewards in past year = $550 Utilization - less than 1%
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Guest: Bikshu Posted: Sat Aug 19, 2006 1:53 am If BOA does not develop any better program than WorldPoints I would still suggest that (I haven't heard of any amazing new progams under development, but you never know). My reasoning is that you can transfer points from one WorldPoints card to another, but only under certain circumstances. This would obviously allow you to build up cash value or travel arrangements faster than on one card alone. The first catch is that there is a fee for transfering points, I don't remember what it is but it is there... maybe $20 or so. The second catch is that once points are transferred, that lump of points will expire three months later... not on the five-year rolling basis they normally expire at. So its best to wait until you are ready to cash them out before transfering them. So if you are ready to book a flight but are a few thousand short, transfer the needed points and book away... My real suggestion is to give yourself more versatility between the two accounts. You already have our very best Visa, so turn that measly Gold card into a BOA American Express Rewards card. You'll get features and benefits similar to the Signature card (minus the no-preset spending limit). But more importantly, you'll give yourself the added versatility of being able to use the card at places that do not accept Visa (Costco only takes AmEx so they come to mind immediately).
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Guest: joshuacc Posted: Sat Aug 19, 2006 3:26 pm They are exactly the same card. If I decide to upgrade my gold card (looking for a low apr visa for my main card) will it affect my history length? The boa gold was my first card.
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Guest: BLT Posted: Sat Aug 19, 2006 3:59 pm Changing topics just a little, do we know which web interface we'll be using after the transition is all over with MBNA? I do love that MBNA shows temp charges.
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What's the difference between BoA Gold and Platinum credit cards?
Guest: BLT Post subject: What's the difference between BoA Gold and Platinum credit cards? Posted: Thu Aug 17, 2006 7:29 pm What's the difference between BoA Gold and Platinum cards? Both cards appear to have the exact same terms... I do wish BoA would come out with a good rewards card so I could convert to it and get some good use from them
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Guest: rapjunkie Credit Expert (100+ Posts) Posted: Thu Aug 17, 2006 9:26 pm I believe platinum would be eligible for higher possible credit lines than gold, although I rarely even see gold cards these days.
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Guest: Bikshu Posted: Fri Aug 18, 2006 6:27 am Good call rapjunkie. The credit line would usually be slightly higher for Platinum than Gold. Gold would typically require at least a $5,000 credit line while Platinum is typically $10,000+. The benefits provided by both Visa and Mastercard themselves on Gold and Platinum are exactly the same. So any difference would be left to the issuing bank itself, not Visa or Mastercard. Often a Platinum card will be more likely to have a rewards program of some type, but this is not necessarily the case with Bank of America. Rapjunkie is also correct about the rarity of Gold. The industry as a whole has been slowly phasing out Gold cards for about ten years now, since Platinum really took hold in the mid-90s. MBNA entirely stopped issuing Gold circa 1998 and now that they will be running Bank of America's card portfolio the same will happen to BOA. Expect to see the death of the BOA Gold Visa and Mastercard sometime in 2007. Now within the MBNA/BOA portfolio there is a difference when it comes to our American Express card offerings. The hierarchy is as follows: American Express, Rewards American Express, Gold American Express, and Platinum American Express. Regular and Rewards carry no annual fee, Gold is $99, and Platinum is $195. Gold and Platinum earn rewards points at faster rates, respectively. Both also get you a yearly companion plane ticket. Platinum also has no pre-set spending limit and entitles you entrance into certain airport frequent flyer lounges. But remember, this is strictly the case with MBNA/BOA American Express cards. Rapjunkie: give us a few more months until early 2007 when we have fully integrated the two banks and we officially manage the BOA card portfolio. At that point you should be able to call and convert to a WorldPoints account. You will probably lose your existing rewards points balance, if you have any, so bear that in mind and consider cashing them in before officially requesting the change. But WorldPoints is pretty decent: you can get cash back, Visa/MC/AmEx gift cards (or store specific gift cards if you prefer them for some reason), Sony TVs, Bose stereo systems, Callaway golf clubs, or even a Coach purse. You can also redeem points for travel arrangements with virtually any airline, hotel, cruise, or car rental company with no blackout dates. Its not the greatest rewards program out there, but its better than most and certainly better than anything BOA offered prior to the merger. You'll also get the use of a 24 hour toll-free concierges service automatically with a WorldPoints upgrade. Its a free service that can hook you up with tickets to concerts, sporting events, dinner reservations, etc. Again, nothing mind blowing but pretty cool stuff...
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Guest: BLT Posted: Fri Aug 18, 2006 11:07 am Very enlightening I guess since I have my BoA Gold and my MBNA Worldpoints signature Visa (which I assume will be converted to the new BoA Signature Visa), I need to start thinking about what to convert that old gold to Thanks for the response, and welcome to the board!!
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Avoid Lower Credit Score by Spreading Credit Card Balances Around
Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Post subject: Avoid Lower Credit Score by Spreading Credit Card Balances AroundPosted: Wed Aug 23, 2006 10:02 pm Quote: "Snuffy" It's not a question of fear. For me it is knowing the rules of the credit game. Once I know that then I know how to manage my risk better. If going above 90% will lower my score as opposed to spreading across cards then I prefer the latter option. Assuming there isn't a risk in that as well. I am basically trying to weigh my options, plan accordingly and take the best route. Hence my 3 questions. SCORE is of no importance unless you are going for a MORTGAGE in the next 6--12 months
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Guest: Snuffy Posted: Wed Aug 23, 2006 10:06 pm mouse wrote: Quote: "Snuffy" It's not a question of fear. For me it is knowing the rules of the credit game. Once I know that then I know how to manage my risk better. If going above 90% will lower my score as opposed to spreading across cards then I prefer the latter option. Assuming there isn't a risk in that as well. I am basically trying to weigh my options, plan accordingly and take the best route. Hence my 3 questions. SCORE is of no importance unless you are going for a MORTGAGE in the next 6--12 months I might be doing that. I currently rent and home prices are finally coming down from their currently obscene prices. I am waiting for it to dip more before buying. I want to be ready for when it happens. If anyone could help me with my 3 questions it would be appreciated. I am looking for answers from many people as possible so I can weigh things and proceed.
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Wed Aug 23, 2006 10:17 pm MORTGAGE WORRY ABOUT YOUR SCORE PAY ON TIME ALL THE TIME PAY DOWN CURRENT DEBT (but don't sacrifice all your DP money) ONE MONTH BEFORE YOU START LOOKING "TRY" TO NOT SPEND ANYTHING ON CREDIT
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Guest: spjoink Credit Expert (100+ Posts) Posted: Thu Aug 24, 2006 1:44 am i would say 3-6 months...
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Balance Transfer from Credit Card to Bank Account?
Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Post subject: Balance Transfer from Credit Card to Bank Account?Posted: Thu Aug 24, 2006 2:57 am Quote: "spjoink" i would say 3-6 months... What about 3--6 months???
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Guest: spjoink Credit Expert (100+ Posts) Posted: Thu Aug 24, 2006 3:02 am i stayed away from keeping any balances on my cards the last 6 months before i bought my 3 houses last year...i got a good mortgage apr 4.9%...for the 2 first houses and 5.125 for the third house. Now they all sitting there making me very liitle money...hehehe
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Guest: Board Monitor Board Monitor/ Administrator Posted: Thu Aug 24, 2006 7:06 am Were you trying to flip the houses? _________________ Regards, Curtis Arnold Board Monitor http://www.CardRatings.com 20K+ Credit Card Reviews Sign up for our free monthly e-mail newsletter!
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Guest: Snuffy Posted: Thu Aug 24, 2006 7:15 am Looks like the thread is starting to get derailed into a house thread. Here are my 3 questions again. Snuffy wrote: 1. I am thinking I might need to do a mini app-o-rama in order to keep each card below 50%. With that said, one of my possible cards would be the Discover Platinum card because a BT at sign-up has no fee. I suspect I would need to enter the BT info before I am approved. Is this correct? If that is true then how would I know how much to BT to stay under 50% usage?? 2. Another question. I assume since I am using a Citi card as my BT target that I cannot use another Citi card as the source. Is this true? A shame if it is because Citi has some good 0%/12 month deals. 3. With my BT target being newly activated, will this cause a problem when I get these new cards and start BT’ing from them? I am thinking they will see the BT target is new and think it can’t possibly have a balance yet. Does this happen or they just don’t look at it that closely?
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Credit Score Affected by Credit Card Balance
Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Post subject: Credit Score Affected by Credit Card Balance Posted: Wed Aug 23, 2006 9:27 pm I DON'T DO UNDER 99% FOR A 0.00% BT (unless there is a fee involved) But I USUALLY DO 2 X MIN PAYMENTS (ROUNDED UP TO THE NEXT $100) SOMETIMES 3 X PAYMENTS WHAT ARE THEY GOING TO DO??? CLOSE THE ACCOUNT??? Even though they did the BT
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Guest: Snuffy Posted: Wed Aug 23, 2006 9:34 pm mouse wrote: I DON'T DO UNDER 99% FOR A 0.00% BT (unless there is a fee involved) But I USUALLY DO 2 X MIN PAYMENTS (ROUNDED UP TO THE NEXT $100) SOMETIMES 3 X PAYMENTS WHAT ARE THEY GOING TO DO??? CLOSE THE ACCOUNT??? Even though they did the BT What I posted are guidelines I found. I think having a card above 50% can affect the credit rating. I could go above 90%, but take a risk doing this that I would prefer not to take. From my reading I think I might be better off having multiple cards and spreading across them. Although I can see the temptation of going high when there is no fee involved. There aren't many deals like that for at least 12 months of 0%.
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Wed Aug 23, 2006 9:38 pm Quote: "Snuffy" mouse wrote: I DON'T DO UNDER 99% FOR A 0.00% BT (unless there is a fee involved) But I USUALLY DO 2 X MIN PAYMENTS (ROUNDED UP TO THE NEXT $100) SOMETIMES 3 X PAYMENTS WHAT ARE THEY GOING TO DO??? CLOSE THE ACCOUNT??? Even though they did the BT What I posted are guidelines I found. I think having a card above 50% can affect the credit rating. I could go above 90%, but take a risk doing this that I would prefer not to take. From my reading I think I might be better off having multiple cards and spreading across them. Although I can see the temptation of going high when there is no fee involved. There aren't many deals like that for at least 12 months of 0%. I don't "FEAR" going over 90% "IF" you "FEAR" going over 90% don't do it I know people who "FEAR" going over 30% SO THEY KEEP ON PAYING UP TO 9.99% (or higher) BECAUSE THEY WON'T DO IT ALL ON THE 0.00% CARD I DON'T LIVE MY LIFE IN FEAR
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Guest: Snuffy Posted: Wed Aug 23, 2006 9:44 pm It's not a question of fear. For me it is knowing the rules of the credit game. Once I know that then I know how to manage my risk better. If going above 90% will lower my score as opposed to spreading across cards then I prefer the latter option. Assuming there isn't a risk in that as well. I am basically trying to weigh my options, plan accordingly and take the best route. Hence my 3 questions.
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Apply for Multiple Credit Cards Simultaneously
Guest: EasyRhino Post subject: Apply for Multiple Credit Cards SimultaneouslyPosted: Wed Aug 16, 2006 12:14 am yup, requesting a BT at application might result in slightly higher scores. So it's useful to have a good target. Also, citi's 0% Bt offers are often good from the first transfer, so you could "save" the BT offer on the Premierpass for a while until you finish laundering money through it, and THEN request the BT But don't dribble your apps out too long (barring the BT target card) because the new accounts will hurt your credit scores and approvals.
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Guest: Snuffy Posted: Wed Aug 16, 2006 10:15 am EasyRhino wrote: yup, requesting a BT at application might result in slightly higher scores. So it's useful to have a good target. Also, citi's 0% Bt offers are often good from the first transfer, so you could "save" the BT offer on the Premierpass for a while until you finish laundering money through it, and THEN request the BT But don't dribble your apps out too long (barring the BT target card) because the new accounts will hurt your credit scores and approvals. I noticed that too when I signed up for th Citi card. It seems like a good card all around. Unless I could do a BT straight from it to my bank, I don't know what I would use the BT for. Could be a future use, so I will not use it now. When I do the Discover card I will group any other cards I want in the same session. Not sure if I want any other though. Could having too many cards hurt? Something I found at FW: fatwallet.com/forums/messageview.php?start=40&catid=52&threadid=635164 Quote: Discover won't reallocate or consolidate. BofA won't reallocate. Only consolidate. What's the difference? consolidate - take limits from 2 cards and combne into 1, closing the other. reallocate - move limits between cards, keeping both open. Yesterday I sent a message to BofA asking if I can consolidate my 2 cards with them and retain the start date of the oldest.
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Guest: Snuffy Posted: Wed Aug 16, 2006 11:53 pm Snuffy wrote: Yesterday I sent a message to BofA asking if I can consolidate my 2 cards with them and retain the start date of the oldest. This is their reply: Quote: We now offer the option to consolidate your Bank of America Credit Card accounts. The consolidation process is subject to credit approval. If approved, your credit limits can be merged together to form one limit. One account will remain open, and the other account or accounts will be closed. You may choose which account you wish to keep open. Purchases and cash advances will be the only balances that will automatically be separated upon consolidation. Any promotional rates will be forfeited on the closed account, and any balances at a promotional rate will be transferred as purchases, unless the balance is a cash balance. If you wish to proceed, please e-mail us again and include which account you wish to remain open. We appreciate the opportunity to assist you online. Should you have any further inquiries, please e-mail us again. Would it be best to not do this until I get the other cards? Doing this might show activity and appear as if I am applying for another.
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Guest: Snuffy Posted: Wed Aug 23, 2006 9:13 pm I decided against merging the BofA cards now because it triggers a credit check. EasyRhino wrote: But don't dribble your apps out too long (barring the BT target card) because the new accounts will hurt your credit scores and approvals. I am debating on doing a mini app-o-rama. My first card (Citi) came in the mail today. That will be my BT target card. I have still been reading and gearing up for phase 2 of this. I have some planning questions before proceeding. Hopefully veterans here can help me because I haven’t been able to find the answers. I saw this posted at FW: Quote: Successful Balance Transfer for Profit strategy involves: ABSOLUTELY NO MORE than 90% utilization PER CARD. 50% per card if you're the conservative type MUCH LESS than 90% overall utilization. 30 - 40% doesn't raise flags without further negative marks Spread utilization out across different banks 1. I am thinking I might need to do a mini app-o-rama in order to keep each card below 50%. With that said, one of my possible cards would be the Discover Platinum card because a BT at sign-up has no fee. I suspect I would need to enter the BT info before I am approved. Is this correct? If that is true then how would I know how much to BT to stay under 50% usage?? 2. Another question. I assume since I am using a Citi card as my BT target that I cannot use another Citi card as the source. Is this true? A shame if it is because Citi has some good 0%/12 month deals. 3. With my BT target being newly activated, will this cause a problem when I get these new cards and start BT’ing from them? I am thinking they will see the BT target is new and think it can’t possibly have a balance yet. Does this happen or they just don’t look at it that closely? Any answers anyone here could provide would be very helpful. It will help me plan a strategy and figure out which cards to apply for. This is my first time doing this and I want to do it right and at the same time no mess up my credit.
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Suggestions for Credit Cards with Good Balance Transfer Offers?
Guest: Snuffy Post subject: Suggestions for Credit Cards with Good Balance Transfer Offers?Posted: Mon Aug 14, 2006 8:05 pm My strategy is starting to come together. JaneiR36 wrote: Citi is really good about sending true no-fee 0% APR checks if you qualify for one of their accounts. You can then write a check up to your full credit limit to yourself. Chase gave me checks on my 0% APR for 12 months new account, but they had fees attached and the CSR I spoke to would not waive it. Alternatively, accounts like Capital One, for instance, frequently come with no-fee purchase checks (like mouse said, ALWAYS read the fine print!), and you can write a check to yourself and it would be treated like a regular purchase with a grace period. You can then use the new account to pay off the balance with a balance transfer. fatwallet.com/forums/messageview.php?start=40&catid=52&threadid=632935 Date Posted: Jul/14/2006 3:57 PM Quote: On another side note, Citibank is fine being a BT target. I have a Diamond Preferred Am.ex with them that has a 0%, no fee offer. Whenever I want to take a BT from somewhere else that won't send me a check, I just request a BT from Citibank and then have the other card pay off the balance. I've overpaid and had credit balances in the past, and they've never given me any trouble. So for getting cash from a BT, that's a safe bet. It takes a week or maybe two, but how much faster are you going to get the money another way? Date Posted: Aug/02/2006 9:45 AM Quote: Let's say I get a $20,000 credit limit from Emigrant Direct and do a BT of $10,000 to a Citi account without a balance. Can I get Citi to send me a check for my "credit balance" after the BT goes through? You can do it online. Manage my account > maintenance requests > credit balance refund. So it sounds like Citi might be a good exit/conduit for getting money from other cards to the bank. I think a possible limitation might be the CL and I wonder if something would happen if I did that too many times. I also heard from another person that Citi will sometimes send 0% APR checks. Both of these are good pluses for using Citi in my strategy. So if I use Citi as my conduit, then I need cards to feed it. Preferably one with no 0% BT’s with no fees that won't red flag this activity. If there is a way to make this whole process free, I want to find it. Does anyone have suggestions for good cards for this part? Discover and Chase seems to be mentioned. I already have a Chase Sony card, so I don't know if that will decrease the chance of getting another one. Based on the App-o-rama posts, it seems best to submit the applications at the same time. I am not doing anything like an AOR, but maybe it would help anyway. So I want to create a plan of which cards I want and how will I do it....then execute it. Something I found about credit history and use of limits. I found this post: fatwallet.com/t/52/641866/ Quote: 50% utilization for a single card isn't good 90% utilization for a single card is not good 50% utilization over all cards is bad 90% utilization over all cards is worse If you can keep the utilization to less than 50% each card, your score will be much less impacted. If you haven't applied for any credit cards recently, now might be a good time to do an AOR to get some new credit lines and thus lower your utilization. Does anyone have any advice to add or tips?
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Guest: mouse SENIOR MEMBER (Member for 2 yrs.+) Posted: Mon Aug 14, 2006 8:20 pm 50% utilization for a single card isn't good 90% utilization for a single card is not good 50% utilization over all cards is bad 90% utilization over all cards is worse FOR 0.00% BT 99% BT IS FINE WITH ME!!! FICO SCORES DON'T PAY MY BILLS!!! But I do have a few $100,000's un-used at all times So it is real hard to be over 10% "OVER-ALL"
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Guest: multiplierx Posted: Tue Aug 15, 2006 11:46 am I haven't gotten much in the way of BT offers lately. WAMU - 1.9%+ fee CITI - 6.9% 6 months no fee(have a 0% expiring this month) MBNA, BOA 3.9% + fee Amex 3.9%+fee I would like 0% but don't really want another card. _________________ Total interest paid on cards = 0.00 Amount of cash/rewards in past year = $550 Utilization - less than 1%
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Guest: Snuffy Posted: Tue Aug 15, 2006 12:03 pm Last night I signed up for a Citi PremierPass and was instantly approved for $7500 CL. I chose Citi because it looks like a good card to move the money to the bank. My next target is the Discover Platinum card. From what I have read it says there is no BT fee if you do it with the application. So I plan on waiting until I activate my Citi card and then BT to that during the Discover application. Has anyone else tried this?
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0% APR Balance Transfer Offer for Citi Credit Card
Guest: JaneiR36 Credit Expert (100+ Posts) Post subject: 0% APR Balance Transfer Offer for Citi Credit CardPosted: Sun Aug 13, 2006 3:06 pm Citi is really good about sending true no-fee 0% APR checks if you qualify for one of their accounts. You can then write a check up to your full credit limit to yourself. Chase gave me checks on my 0% APR for 12 months new account, but they had fees attached and the CSR I spoke to would not waive it. Alternatively, accounts like Capital One, for instance, frequently come with no-fee purchase checks (like mouse said, ALWAYS read the fine print!), and you can write a check to yourself and it would be treated like a regular purchase with a grace period. You can then use the new account to pay off the balance with a balance transfer.
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Guest: Snuffy Posted: Sun Aug 13, 2006 10:23 pm Thanks for the help everyone. I have never played the credit card game. I have only used them for purchases and always pay them off each month. I checked out Fat Wallet. Haven't been there for awhile and had no idea they have a Finance section. Right now I am doing a lot of reading there. Here are a few interesting threads I have found so far: New Balance Transfer apporama CC scheme (BT) fatwallet.com/t/52/636830/ App-o-rama-2nd wind..$145K+ in new credit and counting. Bonuses Received and BT deals Updates fatwallet.com/t/52/624468/ Creative ideas on doing 0% BT with CCs that don't do transfer to checking... fatwallet.com/t/52/522179/ Which credit cards issue checks for large overpayments (BT) without hassle? fatwallet.com/forums/arcmessageview.php?catid=52&threadid=385866 ------------------------------------------------------------------------------- I am putting together the cards and limits I have right now so I know what I have to work with: Business Cards: CitiBusiness - $14500 Capital One - $2600 Personal Cards: Chase Bank Sony Card - <-- was CitiCard Visa Check Card through my credit union <-- bank account where I want the money to go Older personal cards I don’t use anymore, but probably could if needed: Bank of America Platinum Reserve - $2500 Bank of America Power Rewards - $3100 <-- was Fleet – Never activated new card I have never tried to get a limit increase on any card. For the CitiBusiness card I believe they did that on their own. I am making more money then I used to and my credit history is totally clean. I used to get the checks for the Capital One business card, but threw them away thinking I would never use them. I never did look at the terms. I currently have $2046 on my CitiBusiness card and I am going to buy plane tickets soon that will likely be over $1000. I suppose one way of getting some of the money legitimately is if I have a 0% BT card in time to do it, then I just use the money from my bank account that I would have used to pay it. Of course that just limits the money I can get to what I spend. I could use it in combination with another method if needed. To do what I said above I would need a card soon with the 0% APR offer. Is there one that is really good now? JaneiR36 mentioned Citi is good about checks. I am assuming you are excluding CitiBusiness(see below)? How long does the process typically take to get a card once the application is submitted? Another question; should I only use half the credit on a card so it doesn’t look bad on my history? ------------------------------------------------------------------------------- While logging onto the sites to see my limits I found a few things. CitiBusiness citibank.com/us/cards/cardserv/citibiz/services.jsp Quote: Check-writing Option When you do business with someone who does not accept credit cards, you still can access your CitiBusiness Card account—with CitiBusiness Checks. They work just like checks and are accepted anywhere your personal checks are accepted. To request your complimentary checks, call Small Business Customer Service at 1-800-750-7453. Subject to availability and limited to unused portion of your existing credit line. CitiBusiness Checks ar |
