Avoid GEICO Mastercard

[Anonymous]

I just want you all to be part of my experience: I applied for a Geico Mastercard, because they offered reduced premiums for those paying with this card. So, I applied. The result was a card with a $500 CL. Unfortunately, my premium was $505. Because I saw this upfront, I canceled my automatic payment plan. How is that? They give you a card that doesn't cover your premium. By the way, I asked for an CL increase, but they don't want to give me one (maybe I need a FICO of >850 :-) ). Ergo, think twice about the Geico Mastercard. Does anybody make the same experience with them?

Message Edited by Physicist on 09-02-2008 11:46 AM

[Tons_of_Debt]

Can you pay a part of your premium with the card and still get the reduced rates?

[Anonymous]

I don't know if I can pay a part. It's not so much about saving some bucks. It's more about the bad style (premium>CL), and not telling me. They should know both of this information.

Message Edited by Physicist on 09-02-2008 11:47 AM

[Bella1980]

Thanks for the headsup re this card. I had been looking at it.

[Logical]

Geico MC was my first major card a little over a year and a half ago. $500 CL. When you pay your 6 month premium in 4 monthly payments they usually charge $4-$5 fee for each. With the Geico MC there is no fee. That is the savings. I have received 4 automatic CLIs since then more than tripling the CL. The card's been good to me. I'm a happy camper.