Juniper CLI via BT Check Carrot

[timber]

Has anybody else gotten one of these?

In the mail today was an envelope with "Information about a credit line increase enclosed" printed on the outside... bad enough it was announcing look-at-me credit info inside, opened to find a check for my Juniper MC account. Here's the hook, I must use the check in order to increase my CL up to $2500 maximum. So if I don't use the check to BT or write it to myself, then no CLI. If I use the check my CL will increase by the amount of the check up to $2500. The terms are not that bad... 3% BT fee and the APR will be my current APR, which is 11.99%. I opened this account August 2007 and current CL is 4K. I also have a Juniper Apple Visa with a meager $500 limit and 23.49% APR... I do not know why Apple continues to do business with these jokers. It makes no sense.

Guess I have to use the check to get my CL to $6500. Honestly, I was really considering closing both these Juniper accounts, since I have much better CL and terms with my NFCU and Wamu accounts. What to do

[unknown_entity]

Deposit the check and pay it back, it might cost you the 3% fee though...

[Anonymous]

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unknown_entity wrote:

Deposit the check and pay it back, it might cost you the 3% fee though...

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I agree, if it's worth it to you.

Remember not to do it for more than $2427, or else the 3% fee will take you immediately overlimit.

Edit: Actually, maybe not.  Depends on your current balance on your existing CL, I guess.

That's $74 for a $2500 CL.  Who do they think they are, Orchard?

Message Edited by cheddar on 07-30-2008 04:56 PM

[timber]

Thanks Cheddar... yeah, I thought that was kinda tricky also. My current balance is $0, so using the full $2500 should not be a problem.

This is just so lame! Why don't they just give me the CLI without hoops to jump through. What are we... "The Greatest American Credit Card Slaves"? I'd feel better about them and would probably use the card more.

[Anonymous]

They sent me that same mess.  They don't apply the 3% immediately do they?  Say you have $2500 available and you write the check for $2500 will that take you over that limit?

Message Edited by PositiveChange on 07-30-2008 08:41 PM

Message Edited by PositiveChange on 07-30-2008 08:41 PM

[Anonymous]

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PositiveChange wrote:

They sent me that same mess.  They don't apply the 3% immediately do they?  Say you have $2500 available and you write the check for $2500 will that take you over that limit?

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Most BT offers add the BT fee immediately.  I had the same thought you did, but see my edit to my post above.  This is for a CLI, not an initial total CL, so as long as there is room on the existing CL for the BT fee, you won't go over the limit.

[Anonymous]

If you can pay off the account immediately, then take the offer. Otherwise, a 11.99% BT is not worth it. IMO.

[jmbfl]

My comment is similar. This offer is NOT GOOD unless you are intending to immediately pay it off. In essence they are selling you a CLI and that is dangerous territory. Providian sold CLI's as a matter of routine - then turned around and ratejacked those who took advantage of them. SInce Barclay/Juniper is a known ratejacker and CL decreaser I would not act on this unless I had the wherewithall and the intention to pay it off right away. Sorry to see Barclay/Juniper is resorting to this type of offer to make a buck. It is the modus operandi of bottom feeders.

[timber]

Thanks to everyone for all the great input. While it is tempting to take Juniper's CLI offer and I can pay it off right away, I've decided not to fall for it and will be closing both my Juniper accounts next month. I really don't need them and I think it's time to start pruning my accounts, now that I've grown my credit and Fico scores. Here's what I've got now and what I intend to give up:

Keeping:

NFCU Platinum MC - 20K CL, 0 Bal
NFCU nRewards Visa - 20K CL, 900 Bal
NFCU NavCheck LOC - 10K CL, 0 Bal
Wamu Platinum Visa - 12,500 CL, 2800 Bal @ 0% will be paid to $0 by 12/08
Wamu PetSmart Visa - 9K CL, Just opened last week 1200 BT @ 0%
HSBC Amex - 2500 CL - 200 Bal (note: opened 6/07 and has never reported to any CRA)
Hooter's MC - 5K CL, 0 Bal
Macy's - 1200 CL, 0 Bal
Citi Shell - 1K CL, 0 Bal
GEMB PayPal - 500 CL, 0 Bal

Good Bye:

Juniper MC - 4K CL, 0 Bal
Juniper Apple Visa - 500 CL, 0 Bal
Merrick Bank Visa - 3K CL, 0 Bal (This was my first CC post BK7 discharge 11/03)
CapOne Platinum MC - 4K CL, 0 Bal (just closed because stingy with CLIs)
Tribute MC - 1250 CL, 0 Bal (totally forgot I had this until now)

As you can see, NFCU and Wamu have been very generous with me and I think pretty highly of them, especially NFCU! I would love to get in with another "prime" lender sometime in the future... possibly Citi, BofA or Chase, but it will take more time as I had cards with all of these plus Discover and Amex that were discharged in my BK7 11/03. Know that I will never see a true Amex again, but possibly a better co-branded Amex than HSBC (I loathe them). The Citi Platinum Amex looks like a likely goal.

This board has been a Godsend, as I would have never been able to achieve what I have today just 5 years out of BK. Thanks!

7/2008 Scores: TU - 715, EX - 698, EQ - 682

[jmbfl]

If you love this board then you know NOT to close those accounts unless they have annual fees. This is particularly try of the one with the larger CL. Just SD 'em and take them for a walk once a quarter.

You do have NFCU, which is great. However, you do have a lot of exposure to WaMu and HSBC. I do not trust either of them (and Barclay/Juniper either for that matter). It pays to diversify - do not close open accounts unless you have a real good reason.