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Cards you should absolutely avoid

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Blackbeauty212
Frequent Contributor
‎10-11-2016 10:27 AM
‎10-11-2016 10:27 AM

Re: Cards you should absolutely avoid

@Anonymous wrote:
I would say:

Any card that charges you $25 every time they give you a CLI is a card to avoid.

Any card with no grace period is a card to avoid.

Any card that charges you a third of the SL in fees before the card shows up is a card to avoid.

---

Even people with really bad credit can avoid these with a secured card from a reputable company. It just requires a little upfront collateral, but if you're looking at an unsecured card with $150 in upfront fees, you may as well save up the extra $50 and go to Cap One or somewhere instead.

My sentiments exactly! .... Would rather deal with a Fully Secured Card from a reputable national issuer. Cap One, Citi, BofA, Discover all deal in Secured Cards that have very fair rules. 

Message 31 of 49
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Anonymous
Not applicable
‎10-11-2016 10:56 AM
‎10-11-2016 10:56 AM

Re: Cards you should absolutely avoid

@Anonymous wrote:
@Anonymous wrote:
Lol yeah looking back I wouldn't have app'd for the Chase Amazon card. I'm surprised Chase hasn't done anything to make that card more attractive.

I second this. Really wish Chase would do something with it. I am currently using the 5% Discover IT Amazon benefits and when the quarter ends I'll switch over to the store card. I really only keep the Chase card around incase they decide to do something with it or better yet if they discontinue the product line so I can PC to Freedom. Oh and I suppose also if ever I need the extended product warranties while Discover is off. SD for now.

I keep it around because I've had it since 2009 and don't want to close a card that old. 

 

I would much prefer the ability to PC it to a Freedom but they won't allow that Smiley Sad

Message 32 of 49
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Anonymous
Not applicable
‎10-11-2016 02:06 PM
‎10-11-2016 02:06 PM

Re: Cards you should absolutely avoid

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Lol yeah looking back I wouldn't have app'd for the Chase Amazon card. I'm surprised Chase hasn't done anything to make that card more attractive.

I second this. Really wish Chase would do something with it. I am currently using the 5% Discover IT Amazon benefits and when the quarter ends I'll switch over to the store card. I really only keep the Chase card around incase they decide to do something with it or better yet if they discontinue the product line so I can PC to Freedom. Oh and I suppose also if ever I need the extended product warranties while Discover is off. SD for now.

I keep it around because I've had it since 2009 and don't want to close a card that old. 

 

I would much prefer the ability to PC it to a Freedom but they won't allow that Smiley Sad

Ya, which is why I would like to see them discontinue the Chase Amazon line if they aren't going to do anything with it. From what I understand, if they discontinued the card we could PC it to Freedom. :-)

Message 33 of 49
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Anonymous
Not applicable
‎10-11-2016 03:24 PM
‎10-11-2016 03:24 PM

Re: Cards you should absolutely avoid

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Lol yeah looking back I wouldn't have app'd for the Chase Amazon card. I'm surprised Chase hasn't done anything to make that card more attractive.

I second this. Really wish Chase would do something with it. I am currently using the 5% Discover IT Amazon benefits and when the quarter ends I'll switch over to the store card. I really only keep the Chase card around incase they decide to do something with it or better yet if they discontinue the product line so I can PC to Freedom. Oh and I suppose also if ever I need the extended product warranties while Discover is off. SD for now.

I keep it around because I've had it since 2009 and don't want to close a card that old. 

 

I would much prefer the ability to PC it to a Freedom but they won't allow that Smiley Sad

Ya, which is why I would like to see them discontinue the Chase Amazon line if they aren't going to do anything with it. From what I understand, if they discontinued the card we could PC it to Freedom. :-)

I doubt that they feel the need!  Two of the cards used as competitors (Sallie Mae and Citi Forward) are either no longer available or no longer give the bonus, although I had hoped the addition of the Amazon Prime card would add pressure.   But I would guess many users are content enough, 12velectronics was until we badmouthed it here!

Message 34 of 49
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Anonymous
Not applicable
‎10-11-2016 07:21 PM
‎10-11-2016 07:21 PM

Re: Cards you should absolutely avoid

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Lol yeah looking back I wouldn't have app'd for the Chase Amazon card. I'm surprised Chase hasn't done anything to make that card more attractive.

I second this. Really wish Chase would do something with it. I am currently using the 5% Discover IT Amazon benefits and when the quarter ends I'll switch over to the store card. I really only keep the Chase card around incase they decide to do something with it or better yet if they discontinue the product line so I can PC to Freedom. Oh and I suppose also if ever I need the extended product warranties while Discover is off. SD for now.

I keep it around because I've had it since 2009 and don't want to close a card that old. 

 

I would much prefer the ability to PC it to a Freedom but they won't allow that Smiley Sad

Ya, which is why I would like to see them discontinue the Chase Amazon line if they aren't going to do anything with it. From what I understand, if they discontinued the card we could PC it to Freedom. :-)

I doubt that they feel the need!  Two of the cards used as competitors (Sallie Mae and Citi Forward) are either no longer available or no longer give the bonus, although I had hoped the addition of the Amazon Prime card would add pressure.   But I would guess many users are content enough, 12velectronics was until we badmouthed it here!

Ya, I agree. Considering the store card is only for prime members and the other currently available cards only keep it as a rotating category there really isn't any competition for them. Seems like Amazon uses the store card as more incentive for prime existing/potential users and Chase is the fall back for everyone else.

Message 35 of 49
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Anonymous
Not applicable
‎10-11-2016 10:00 PM
‎10-11-2016 10:00 PM

Re: Cards you should absolutely avoid

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Lol yeah looking back I wouldn't have app'd for the Chase Amazon card. I'm surprised Chase hasn't done anything to make that card more attractive.

I second this. Really wish Chase would do something with it. I am currently using the 5% Discover IT Amazon benefits and when the quarter ends I'll switch over to the store card. I really only keep the Chase card around incase they decide to do something with it or better yet if they discontinue the product line so I can PC to Freedom. Oh and I suppose also if ever I need the extended product warranties while Discover is off. SD for now.

I keep it around because I've had it since 2009 and don't want to close a card that old. 

 

I would much prefer the ability to PC it to a Freedom but they won't allow that Smiley Sad

Ya, which is why I would like to see them discontinue the Chase Amazon line if they aren't going to do anything with it. From what I understand, if they discontinued the card we could PC it to Freedom. :-)

I doubt that they feel the need!  Two of the cards used as competitors (Sallie Mae and Citi Forward) are either no longer available or no longer give the bonus, although I had hoped the addition of the Amazon Prime card would add pressure.   But I would guess many users are content enough, 12velectronics was until we badmouthed it here!

Ya, I agree. Considering the store card is only for prime members and the other currently available cards only keep it as a rotating category there really isn't any competition for them. Seems like Amazon uses the store card as more incentive for prime existing/potential users and Chase is the fall back for everyone else.

Well, there is still the Cash +, where you can choose bookstores for 5% on $2000 a quarter (shared with another 5% category) but the Prime card is a better choice for heavy Amazon users

Message 36 of 49
Anonymous
Not applicable
‎10-11-2016 10:09 PM
‎10-11-2016 10:09 PM

Re: Cards you should absolutely avoid

@Anonymous wrote:
I never understood people that had 2-3 $450AF cards that are often costing the user money and sometimes are Sock Drawered..

This is something people can forget. Any cards with an annual fee should be avoided unless your usage allows you to get equal or better rewards than what the fee costs.

Message 37 of 49
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Anonymous
Not applicable
‎10-11-2016 10:20 PM
‎10-11-2016 10:20 PM

Re: Cards you should absolutely avoid

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Lol yeah looking back I wouldn't have app'd for the Chase Amazon card. I'm surprised Chase hasn't done anything to make that card more attractive.

I second this. Really wish Chase would do something with it. I am currently using the 5% Discover IT Amazon benefits and when the quarter ends I'll switch over to the store card. I really only keep the Chase card around incase they decide to do something with it or better yet if they discontinue the product line so I can PC to Freedom. Oh and I suppose also if ever I need the extended product warranties while Discover is off. SD for now.

I keep it around because I've had it since 2009 and don't want to close a card that old. 

 

I would much prefer the ability to PC it to a Freedom but they won't allow that Smiley Sad

Ya, which is why I would like to see them discontinue the Chase Amazon line if they aren't going to do anything with it. From what I understand, if they discontinued the card we could PC it to Freedom. :-)

I doubt that they feel the need!  Two of the cards used as competitors (Sallie Mae and Citi Forward) are either no longer available or no longer give the bonus, although I had hoped the addition of the Amazon Prime card would add pressure.   But I would guess many users are content enough, 12velectronics was until we badmouthed it here!

I really was content until I joined this forum. Now I'm much wiser Smiley Happy

Message 38 of 49
Imperfectfuture
Super Contributor
‎10-13-2016 08:46 AM
‎10-13-2016 08:46 AM

Re: Cards you should absolutely avoid

@tricie17 wrote:

I do not believe that these cards such as First Premier and all that fall into the building and/or rebuilding category should be counted out and for these reasons: 1 the credit world is changing and a large segment of the population are credit challenged. 2 although these cards have various fees, you have one year to start paying which gives that year to put a credit challenged person in a better position for some of the better cards and 3 let us face the fact that some of us need the "toy cards" as stated to become as savvy as some of our myfico forum members.  The Credit Unions are a good place to start but even they have their standard credit numbers and also everybody will not be approved for everything regardless of numbers.

A secured card from the local credit union is SO much better.  Saw that on a Suze Orman show, started my rebuild in 2013.  I had a credit one long time ago, they are nothing but bad new.  Yes, they should be counted out,  credit challenged should start with secured cards first.  If not have money to secure a cradle, not have money to start credit process, IMHO.  And forget the fingerhut rebuild strategy,  I started with Alaska USA, year later first premier (mailed offer, much better, though still pay to play), next cap one, then Amex with score close to 770 from 590.

Signature needs updating
Message 39 of 49
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Anonymous
Not applicable
‎10-13-2016 08:59 AM
‎10-13-2016 08:59 AM

Re: Cards you should absolutely avoid

Some are way better than others but I think establishing unsecured credit works faster than 12 months or more of something that may or may not graduate, tying up money, history not growing when you close it. I think if you have credit one for 6 months it may score a Capital One Quicksilver faster than having a secured card, or being simple Cash and Carry hoping a bad mark falls off reports.

Everyone is in a different financial situation for some people scraping up five hundred bucks at once is tougher and someone with a 500 score but makes 150k a year personally that is a joke to me. They should be giving loans to the next door neighbors high interest making money off them
Message 40 of 49
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