No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I seems ridiculous the gov. is restricting us from choosing a card that fits our needs the best. As good as the CARD Act might be, one thing is trying to protect customers and other is getting in their way and gently closing doors to better financial outcomes. As for amex's policies, I don't think they would care much about you pcing your cards within the first year. Anyways, congrats on the cl!! It's always nice to carry an amex.
@CruzImperial wrote:I seems ridiculous the gov. is restricting us from choosing a card that fits our needs the best. As good as the CARD Act might be, one thing is trying to protect customers and other is getting in their way and gently closing doors to better financial outcomes. As for amex's policies, I don't think they would care much about you pcing your cards within the first year. Anyways, congrats on the cl!! It's always nice to carry an amex.
They are restricting it because sub-prime lenders were changing AF's and monthly fees anytime they felt like it and peope with little or no credit sense allowed it. Or had balances had no choice to pay it or destroy their credit.
trying to do the same thing just got an email back saying can't do it now but maybe after a year which will be next month
@CruzImperial wrote:I seems ridiculous the gov. is restricting us from choosing a card that fits our needs the best. As good as the CARD Act might be, one thing is trying to protect customers and other is getting in their way and gently closing doors to better financial outcomes. As for amex's policies, I don't think they would care much about you pcing your cards within the first year. Anyways, congrats on the cl!! It's always nice to carry an amex.
CARD Act is mostly good. What I really don't like is government limits over-draft auto enrollment (remember how there was one person whining about a $35 coffee?)
That essentially eliminated most free checking/savings account.
@Anonymous wrote:Ahhhh crap oh well.... I guess I will use the PRG for a while and then product change in a year. I submitted 2 Amex apps already this month I won't be going for a third... Thanks for the help. The CARD act is stupid because I WANT the change to happen. I can understand a company initiating the change, but if I want the change initiated I should be allowed to. Gov't needs to take a step back a little and let the consumer do as they please, especially if it is putting more cash in my pocket!!!!
I would disagree with you. The CARD Act is right to do this in the manner it does because without a blanket ban lenders would find very crafty ways to coerce users into agreeing to fee increases. This is targeted at the sub-prime lenders who prey on the bad credit of their customers and their financial illiteracy. The easy lesson for us who are financially literate to learn is to apply for the card we want the first time and not to rely on product conversions.
I was expecting my CL to be low (less than 2k) considering I had no other revolver on my CR at the time. 2k is useless to me (I am used to my charge card), and I really didn't want to have the pay the card off multiple times just to use it. So, I didn't want to get stuck with a annual fee for the BCP, low limit, not being able to use it as much as I would have wanted and having to go through the trouble of PC'ing down to the BCE. Although, I have heard conflicting info from when I first activated that you can PC up to the BCP before a year. I'm going to give them a call again maybe Tuesday and see if I can. Maybe it just depends on who you get.
I think the card act was well needed. Also as a side note you can't PC a chase card until 12 months have passed.
@webhopper wrote:I think the card act was well needed. Also as a side note you can't PC a chase card until 12 months have passed.
Crashem has spoken with a CSR that mentioned it is possible... so I am going to look into it.