Credit Cards

[y0rascal]

i dont know if i spelled it right, but who has these cards, any feed back on them?  how hard are these cards to get espically with a fixed 6.25% interest?  who do they pull from what scores are needed.. these cards got me interested...

[MojaveMoon]

Pulaski has in the past sold off some of its cards to other banks. I haven't heard that they've stopped this practice.

Here's a post from a few years ago from another site:

"Pulaski Bank has in the past sold and assigned all or part of its credit card portfolio to one or more financial institutions located in states other than Arkansas. At its sole discretion, Pulaski Bank reserves the right to do so again, and any such sale may include any account Pulaski Bank establishes for Applicant. Pulaski Bank has also denied credit solely on the basis that the application previously had an account with Pulaski Bank that was sold and assigned to another institution. In the event your account is sold to another institution, Pulaski Bank reserves the right to deny your application for another credit card on this basis. In the event an account is sold to another institution, the purchaser may elect to offer account terms and conditions which differ from those offered by Pulaski Bank and which may include an Annual Percentage Rate which is substantially higher than the Annual Percentage Rate offered by Pulaski Bank."

[MojaveMoon]

"Since Pulaski's rates are so low, they do require actual proof of income. The following proof of income requirements apply (taken from their application form):


PLEASE NOTE: TO PROCESS YOUR APPLICATION WE REQUIRE THE FOLLOWING AS PROOF OF INCOME ON BOTH THE APPLICANT AND CO-APPLICANT (IF APPLICABLE):

1. SALARIED OR HOURLY EMPLOYEE - Send a copy of your current payroll stub showing gross income and year-to-date total.
2. SELF-EMPLOYED - Send a copy of your most recent two years 1040 Federal Income Tax returns including Schedule C or Schedule E.
3. COMMISSIONED SALES - Send a copy of your current payroll stub and a copy of your last year s W-2 form.
4. RETIRED - Social Security, Pension, Disability, COLA Letter, 1099 Form, Check Stub, Direct Deposit Verification. You must provide proof of this income.
5. INTEREST/DIVIDEND INCOME - This income must be verified by your 1040 Federal Income Tax return for last year or Form 1099.
6. RENTAL INCOME - Rental income must be verified by your most recent two years 1040 Federal Income Tax return including Schedule E.


I know you have to have pretty spotless credit to qualify as well. Pulaski Bank is headquartered in our hometown of Little Rock, Arkansas....so I am somewhat familiar with their underwriting requirements. "

[MojaveMoon]

CNN article from 2001

Lower your credit card rate
November 2, 2001: 3:25 p.m. ET
Credit card holders find it hard to latch onto the interest-rate freefall.
By Sarah Max

"While you're shopping for the lowest rates, you may notice the best offers come from small banks with unfamiliar names. Arkansas' Pulaski Bank & Trust, for example, has gotten lots of kudos over the past several years for its 6.5 percent annual rate.

Unfortunately, your chances of qualifying for Pulaski's card, or any small bank's card, are slim. "Pulaski only has 32,000 accounts and is only adding 1,000 new accounts a month," McKinley said. "About one in 100 applicants will qualify for it."

Even if you do beat the odds and qualify, don't expect to transfer big balances and shop like Imelda Marcos. The average credit limit for Pulaski cardholders is about $1,600.

You're more likely to qualify for the better rates and bigger credit limits if you focus on the largest issuers, such as Bank of America, Bank One/First USA, Capital One, Citibank and MBNA. Although 9 percent is about as low as they go, they don't limit their best offers to just the very best applicants and they are willing to take on larger balances. "If you're looking to transfer a $5,000 balance, you need to look to the largest issuers," McKinley said."

[MojaveMoon]

And Iberia Bank either is a part of Pulaski Bank or else has its credit cards issued by Pulaski bank

Another post from another site:

"This is copied from the terms and conditions page of the offer we have listed:

We are a bank (Pulaski Bank doing business as IBERIABANK) whose home state is Arkansas.We will review and analyze your Credit Card Application in Arkansas. If we accept your Application, we will do so in Arkansas, payments on your account will be made to us in Arkansas, and your Account and each use of your Account for Purchase, Cash Advanceor Balance Transfer Check will be a loan made in Arkansas. Our agreement with you will be governed by applicable Arkansas and federal law, including the federal lawunder 12 USC § 1831u(f), as it may be amended, and any laws of other States which are made applicable by said Section 1831u(f)."

[emartin82]

they will pull all three bureaus. they also require a thorough paper application that looks more like a mortgage/employment/rental application. there are no automated approvals; all decisions are made by a human being in Louisiana (if Iberia) or Arkansas (if Pulaski). they will not only look at your current month's util, but will comb through every tradeline and analyze every month reported for the last seven years. Good luck, let us know if you apply!

[MojaveMoon]

y0rascal:

I sent you a PM (private message)

[VEEnVEGAS]

I was actuallIy looking at this card for a while myself. Checked and found information on only 3 people who had apped for it.  One had a score of 835 and was approved for 10K one had 713 and 3 yr old BK 13 -approved for 5400 one had 603 score and was denied.  All 3 had TU pulled. One said EX and TU pulled.