@Anonymous wrote:
@Subexistence wrote:Hold on, I want to make sure we're all on the same page here. A lot of people are saying it has foriegn transaction fees but I'm not reading that. Here's what I'm reading "
- No annual fee1
- Unlimited 1.5% cash back on every purchase2
- 10,000 bonus points after $500 in purchases2
- 0% introductory APR on balance transfers and purchases for 12 months1
- No foreign transaction fee on purchases made outside the U.S.1"
People were also saying it had foreign transaction fee in my other thread so I'm not sure where you guys are getting that from.
I checked the M&T website. There are no FTF's or annual fees for this card. The APR range is really good too. A coupe of things:
This is a smaller bank so there could be a good chance that they are conservative.
This is a Visa Signature; most banks have since lowered the required credit line from $5,000 to be approved for a Signature card; however, I can't find anything about where M&T stands on that. And I am not sure if they have a non Signature card that would be approved with the same benefits if an applicant does not qualify for the Signature card.
Since there is a chance that they are conservative, they might want to see that you have another $5,000 + credit line with another bank/financial institution. Based on your signature, it looks like you have a $2500 Discover and a $500 credit union Visa only.
I got it in my head that you may be a student (don't ask me why I am thinking that Aspire Student MD SECU card maybe); if so, would your scores and income be enough to be approved for a Visa Signature at a $5,000 limit?
Someone else brought up NFCU. Don't let MD SECU turn you off for all credit unions. There are a lot of great ones out there and NFCU has impressed me. The Cash Rewards card also offers 1.5% cash back and no FTF fees like this M&T card. NFCU will probably also give you a much higher credit line which could help down the line. You could always apply for the M&T card and if declined, go for the NFCU card.
Is there any Navy requirements for getting NFCU card? Oh yeah I am a student and I'm aware that NexisLexis Credit Insurance counts credit union positively. I'm a tutor at a middle school near my college and I get paid $15/hour. Your observations about my limits are totally correct and I also don't have a FICO score yet because my history is just 3 months old. My friend who's credit history is 6 months old got approved for $5000 credit limit on Discover so I'm in hopes that when my Discover graduates ffrom secured to unsecured I can have a similar increase.
Starting Score: Ex08-732,Eq08-713,Tu08-717
@Anonymous wrote:
@Subexistence wrote:
@Anonymous wrote:
@Subexistence wrote:Hold on, I want to make sure we're all on the same page here. A lot of people are saying it has foriegn transaction fees but I'm not reading that. Here's what I'm reading "
- No annual fee1
- Unlimited 1.5% cash back on every purchase2
- 10,000 bonus points after $500 in purchases2
- 0% introductory APR on balance transfers and purchases for 12 months1
- No foreign transaction fee on purchases made outside the U.S.1"
People were also saying it had foreign transaction fee in my other thread so I'm not sure where you guys are getting that from.
I checked the M&T website. There are no FTF's or annual fees for this card. The APR range is really good too. A coupe of things:
This is a smaller bank so there could be a good chance that they are conservative.
This is a Visa Signature; most banks have since lowered the required credit line from $5,000 to be approved for a Signature card; however, I can't find anything about where M&T stands on that. And I am not sure if they have a non Signature card that would be approved with the same benefits if an applicant does not qualify for the Signature card.
Since there is a chance that they are conservative, they might want to see that you have another $5,000 + credit line with another bank/financial institution. Based on your signature, it looks like you have a $2500 Discover and a $500 credit union Visa only.
I got it in my head that you may be a student (don't ask me why I am thinking that Aspire Student MD SECU card maybe); if so, would your scores and income be enough to be approved for a Visa Signature at a $5,000 limit?
Someone else brought up NFCU. Don't let MD SECU turn you off for all credit unions. There are a lot of great ones out there and NFCU has impressed me. The Cash Rewards card also offers 1.5% cash back and no FTF fees like this M&T card. NFCU will probably also give you a much higher credit line which could help down the line. You could always apply for the M&T card and if declined, go for the NFCU card.
Is there any Navy requirements for getting NFCU card? Oh yeah I am a student and I'm aware that NexisLexis Credit Insurance counts credit union positively. I'm a tutor at a middle school near my college and I get paid $15/hour. Your observations about my limits are totally correct and I also don't have a FICO score yet because my history is just 3 months old. My friend who's credit history is 6 months old got approved for $5000 credit limit on Discover so I'm in hopes that when my Discover graduates ffrom secured to unsecured I can have a similar increase.
You will have to join NFCU, luckily, anybody can join:
only read the first post on this thread:
For kicks and other tidbits, you can read this thread, focusing mostly on the newer postings:
http://ficoforums.myfico.com/t5/Personal-Finance/NLUS-San-Diego-alive-and-well/td-p/4640823
It looks like a lot of work, but it is fairly simple to join and totally worth it.
I would wait until your FICO score generates (I would think by now it should have) before applying for a card with NFCU, but you can apply for membership straight away. The membership does cost a TU hard inquiry.
Yeah, different issuers can be all over the place (in regards to your friend's DIscover). One bank might hand out great limits and others it takes a while. DIscover has been on a roll lately though, everytime I log in they want me to see about a credit line inrease so they will be a good bet for you I am sure. So based on the fact that you don't have a FICO score yet, hold off on that M&T card for now. LIke I said, I really do not know a whole lot about them, but these smaller banks usually like a solid, lenghty credit history. I really think NFCU will be a good bet for you as well as Capital One QuickSilver if you are ever interested in a MasterCard.
So to get NFCU card, is there anyway I can get it with just 1 inquiry like NFCU uses the same inquiry for admiting me and determining if I can get the card. I know I was rejected from Discover student card for no history but was able to secure a secured card without an additional inquiry.
@Anonymous wrote:
@Subexistence wrote:
@Anonymous wrote:
@Subexistence wrote:
@Anonymous wrote:
@Subexistence wrote:So to get NFCU card, is there anyway I can get it with just 1 inquiry like NFCU uses the same inquiry for admiting me and determining if I can get the card. I know I was rejected from Discover student card for no history but was able to secure a secured card without an additional inquiry.That is their one flaw, if you want to call it a flaw. NFCU is very inquiry happy. It will be a hard inquiry for joining and one hard inquiry for each additional product that you apply for. PenFed on the other hand will pull one EQ for membership and allow you to use tht same pulll for up to 90 days (don't quote me on 90-it seems people have stated that it is less now, but at least 30 days). PenFed is also a great credit union and you can join them through the NLUS as well; however, PenFed is slightly more conservative.
Looks like I'll do as you said. I'll wait and see if my limit and score are up there for the M$T card. If not then I may get the NFCU card.
@longtimelurker wrote:
@SouthJamaica wrote:3% foreign transaction fee:
https://asset.mtb.com/documents/pdf/summary-visa-account-terms.pdf?WCMITEMID=2522
except for the bit that says: (excluding the M&T Visa® Signature Credit Card, on which no Foreign Transaction Fees are charged)
OOPS. My mistake. Sorry folks.
