USBank -- again..

[Anonymous]

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Denloe wrote:

Not to sure. DW has a card and the limit was raised to 8400.00 from 7100.00 or something but the interest was 22.49% for purchase and 23.24% for Advances.

Unfortunately for her was all her charges were Cash advance for a bal of 5400.00 so She called them and they said since you have been a good customer and her fico's are in the low 700's that the would drop the % to 2.99 for 9 months. GREAT!

That was for purchases. The Cash Advance stays at 23.24

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23% or so on cash advances is pretty typical of just about any issuer.  Be careful with that 2.99% on purchases.  You know why they offered that rate in this situation, right?

Since your DW has been carrying cash advance balances, they are hoping to entice her with a low purchase rate so that she'll rack up a large balance from purchases, and then her payments won't be able to touch cash advance balance until the purchases are completely paid off.  Tread lightly with this offer!

Message Edited by cheddar on 04-10-2008 10:47 AM

[Anonymous]

Absolutely. Here intention is to pay this off and not use it. She just wanted lower % to do it quicker.

Thanks Cheddar

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cheddar wrote:

23% or so on cash advances is pretty typical of just about any issuer.  Be careful with that 2.99% on purchases.  You know why they offered that rate in this situation, right?

Since your DW has been carrying cash advance balances, they are hoping to entice her with a low purchase rate so that she'll rack up a large balance from purchases, and then her payments won't be able to touch cash advance balance until the purchases are completely paid off.  Tread lightly with this offer!

Message Edited by cheddar on 04-10-2008 10:47 AM

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[Anonymous]

Honestly, I don't know what's so special about US Bank.

I also got that pre-app offer in the mail, and decided that since I have a checking acct. with them, a CC from the same bank would probably go well with it. So I applied and got approved for the "generous" 2k limit. Which is good... Then six months later they automatically raised my limit to 2750. Which was also good... But that card is boring! No rewards, no nothing. Just a plain and simple Visa credit card. Blah!

By the way, they gave me intro rate of 1.9% for one year, and no annual fee EVER. I haven't used this card for a while.

[MidnightVoice]

I have a very boring card from my CU - no rewards, but a low APR in case I ever need to carry a balance for a month 

[Anonymous]

Thanks for the responses -- and I'm really glad I now understand that their idea of generous is much different than mine!

[Creditaddict]

I LOVE my USBANK VISA SIGNATURE. it's my oldest account and highest limit. Pretty good rewards too that I trade in for credits towards my balance!

[creditninja9000]

I signed up for Select Rewards but it made my APR go from 11% up to 15% i didn't think it was worth it for rewards that would take thousands to accumulate. I probably wouldn't even pass more than 5k through the card a year and that's if it was of the cards I mainly used. I decided to switch back to regular Platinum. These rewards are all gimmicks to encourage spending anyway.......

[haulingthescoreup]

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@Creditaddict wrote:

I LOVE my USBANK VISA SIGNATURE. it's my oldest account and highest limit. Pretty good rewards too that I trade in for credits towards my balance!

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Does it report your actual CL, or just the highest balance you've ever had? What rewards does it offer? It's obviously a different beast from many of the other US Bank cards.

[Creditaddict]

it does report my CL

[haulingthescoreup]

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@Creditaddict wrote:

it does report my CL

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Interesting! Seems like one of the few Signature Visas that does. thanks