Credit Cards

[db1973]

I got a credicard from this bank. Listen to this: Visa $500 CL, Origination Fee: $50, Monthly Maintenance Fee: $10. This monthly fee applies even if you have $0 balance. Overlimit Fee: $32. AR: 23.99% since the first statement. They don't have 800 number to check your balance, they have an area code number 57... something, if you need to talk to an agent they have 800 number and they charge $0.50 per minute. I tried to cancel it and the next month they sent me another statement like nothing happened. I had to call again and recancelled it. Finally I got rid of it. It is the worst credit card and easy and fast to get it.

[LadyFICO]

Unfortunately when you are rebuilding your credit you will get many cc that offer you unsecured credit. They are definitely wolves in sheeps clothing. I would check here first and see what we have put out there and go from there. Many cards want crazy fees. Thanks for the warning and good luck on the right card for you.

[Diorella]

I have this card. After bankruptcy i was so glad to get offers from non secured cards and even though the fees were high, i felt i had to take it to help rebuild--- boy was i wrong.

Not only are there the fees you just noted, but there is also a $100 fee to accept their CLI offers! Its crazy. They started me at 1K about a year ago. I got a notice today about thier office stating that i was preapproved for a cli,byut a fee would be billed to my account- "A finance charge which would be billed to my ACCOUNT and treated AS A CASH ADVANCE, but with no CA fee! Are you confused too?

Also- there is a 800 automated number to accept the offer, but you can not reach a live person to ask questions about how it affect apr, etc. I called and they offered to raise my limit to $1350 (but the fee would count against that and lower my available credit). What a racket!

PS- I've just discovered this board and I'm glad I did- I am learning so much from all of you. Thanks!
Gigi

Message Edited by Diorella on 07-19-2007 06:29 PM

[myhearts07]

Don't do it..  You don't need the credit through them, they suck!!!  I have them for almost 5 years now, 1 credit line increase cost me $50 in fees and when I had a hardship they cancelled my card and now its shows as credit line cancelled by credit grantor, ding!!!!

I got two increases from Cap 1 without asking, no charge to me.

Forget them jokers!!!

[CreditHawk]

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myhearts07 wrote:

Don't do it.. You don't need the credit through them, they suck!!! I have them for almost 5 years now, 1 credit line increase cost me $50 in fees and when I had a hardship they cancelled my card and now its shows as credit line cancelled by credit grantor, ding!!!!

I got two increases from Cap 1 without asking, no charge to me.

Forget them jokers!!!

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CANCEL THAT CARD RIGHT NOW!

[VLGaffEsq]

I have been a customer of this credit card company since 2000, when my FICO score was in the toilet, and since they are my oldest card and I have a credit limit of 2 K. om my "Silver Preferred" card, I keep the credit card account.  Be advised, however, that they refused to lower my interest rate of 23.99%, even after my FICO score was over 719, and they do charge fees for everything, but remember, "beggers can't be choosers," and I was grateful they gave me a card when I needed one, so I keep the card, but don't use it very often, and I really only keep it to have a positive trade line on my credit report.

[CreditHawk]

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VLGaffEsq wrote:

I have been a customer of this credit card company since 2000, when my FICO score was in the toilet, and since they are my oldest card and I have a credit limit of 2 K. om my "Silver Preferred" card, I keep the credit card account. Be advised, however, that they refused to lower my interest rate of 23.99%, even after my FICO score was over 719, and they do charge fees for everything, but remember, "beggers can't be choosers," and I was grateful they gave me a card when I needed one, so I keep the card, but don't use it very often, and I really only keep it to have a positive trade line on my credit report.

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You gotta be kidding me... you've had this card since 2000, you've got a good payment record with them, you have a FICO over 700, and you're going to KEEP this card?

With a FICO over 700, go get yourself another card or two or three somewhere else. The sooner these slimy sub-prime bottom feeder credit card companies start losing customers, the better.

You're really screwing yourself financially by keeping that card if all the other details about your credit situation are accurate. WAKE UP and close that account!

[VLGaffEsq]

Thanks for your reply CreditHawk, but if you carefully read my email, you would have seen that this credit card is "my oldest credit card" which helps establish your "length of credit history," which I believe counts for roughly 30% of your FICO score.  That is why I continue to keep this credit account open since I have had since account the longest, since 2000.   Also, I DO have five other credit cards...

[TheNewWorldMan]

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VLGaffEsq wrote:

Thanks for your reply CreditHawk, but if you carefully read my email, you would have seen that this credit card is "my oldest credit card" which helps establish your "length of credit history," which I believe counts for roughly 30% of your FICO score. That is why I continue to keep this credit account open since I have had since account the longest, since 2000. Also, I DO have five other credit cards...

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Oldest by how much?

[Lady_Scarlet]

I am so glad I went on an app spree  over 10 months! - After canelling First Premier my oldest card (Exxon) will have the same month/year(with a crappy limit but I can solve that) - and that I will never cancel (just remember to buy some coffee once in awhile - LOL).

BTW, even if you close it - it stays on for 10 years to age your report.  What is the time on your next oldest?

Get rid of it - you are better than it gives you credit for (note the pun).