topic Re: Brammy - Is this common? in General Credit Topics

Brammy - Is this common?

Anonymous — Fri, 20 Apr 2007 05:42:48 GMT

A while back I got an offer for a low interest rate credit card. I called to ask about it because I wanted to transfer a high rate card balance to a much lower interest rate.

They said I was declined (I wanted a $9000 or so limit)....but in the mail a couple of weeks later I got an actual card, ready to go with a limit of $3000.

Is that common? I figured since I was declined that was end of story. The person on the phone didn't say anything about a lower limit etc yet I got a card in the mail, info on the limit, and the peel of label that said to activate it call the automated #....I was kind of shocked to say the least. I now have an extra card that I don't use but figured in an emergency it might be good to have. I haven't activated it though.

Message Edited by terri on 04-19-2007 10:42 PM

Re: Brammy - Is this common?

Tuscani — Fri, 20 Apr 2007 19:09:54 GMT

Non uncommon. Just because you were declined for what you asked does not always mean you won't get something.

Re: Brammy - Is this common?

Anonymous — Fri, 20 Apr 2007 19:13:41 GMT

You can request a higher limit in a few months, provided you've been paying on time, not exceeding the current limit, etc.

Re: Brammy - Is this common?

Anonymous — Fri, 20 Apr 2007 20:53:47 GMT

A better idea would be to save up $3K in an instant access savings account for emergencies- Capital One has one that pays ~5% interest. Then shred that card (but don't close the account - the extra 'room' on your CR will be handy)

Re: Brammy - Is this common?

Anonymous — Fri, 20 Apr 2007 21:53:27 GMT

Shredding the card will mean it eventually goes inactive. Don't shred the card. Just use it for small purchases once in a while and then pay the purchases off promptly. And bug them for CLIs every six to nine months or so.