Prime rate Credit Cards

[Anonymous]

I have a $300 Chase card with a 29.9% interest rate that I've had for over a year. It has no annual fee, but that's its only charm.

They've recently refused to give me a limit increase on that card.

Last month, I applied for a British Airways Visa Signature (expecting a decline, which normally I wouldn't bother trying for one, but I had my reasons), and got the card with a nice credit limit -- that won't report. It's got the normal rate for that card.

So I don't get it, but whatever, I'm not going to argue.

[dlm0820]

We all know that, but we can't live without it.  So I guess we'll have to live with what we have and just go about what we are doing to help ourselves with our credit.  We all know that we can't mess anything up which is all that maters.  Eventually it will work out for all of us.

[Anonymous]

I had bad credit 4 years ago, I got the 2 capital one cards with only $200 limits each. After 3 years of on time payments and asking, I still got no limit increases. Since then I have received credit cards with $12,000 limits. I called them to close the account, mind you after being on hold for 45 mins. I was transferred to the closing department which OH MY GOSH!!! It was an actual person in the United States, not overseas!! They gave me a $5000 limit on both so I wouldn't close the account. So if you want a limit increase from Capital One, I suggest threatining to close your account and get to the 2nd tier account managers, they have all the power they told me to give increases, the moron's that answer the phone for Capital One overseas, have no power so they just give the canned response!! Good Luck!

[dlm0820]

when I actually see that Cap One starts reporting CL's as they say they are going to.  No point in my getting a $5,000 card when there is no way that I'll be able to max it out and PIF.

It just sucks that in order to GET credit you have to HAVE credit but you don't HAVE credit cause you messed up and can't GET credit again.  It's a vicious cycle.  I tried to call Chase and have them reconsider my application.  The woman said that I only have HHB for about 3 years and that isn't good enough of a history for them to approve me considering that I crapped out with my other cards and they are showing baddies.  I thought that even though my oldest baddie is about 3 years old, it would have some kind of affect.  Guess not.

I think I'll just wait 6 months and see what happens with my scores.  I guess I'm a little jealous of seeing all of you post on here with your scores knowing that mine are about the same and I can't get approved for diddly.  Oh well, such is life I guess right?

[Anonymous]

Depending on how disciplined you are, you may try to try my technique for my cash back card.  I pay all my normal bills with my cash back card (from groceries to gas to phone bills) but everytime I pay a bill I transfer that amount to my savings account.  Since I am not very disciplined, I actually transfer it to my Sharebuilder Money Market account which pays 5% and since the card is 0 for a year I figured I may as well make money on top of the cash back.

Anyway, once you get the card maxed out, making minimum payments at the least each month, transfer the money from your savings account and pay it in full.  Make sure you do it before the statement date to avoid interst sendign you over your limit.  Works in getting Household to raise limits as well.  Jut pay your bills as you normally using the credit card then take the money from the bank an PIF every month.