Credit Card Questions

[Eric]

Asking for a CLI from AMEX nowadays is pointless because of the all the CLD's going on. It's better to use/sockdrawer the card until they decide to change their attitude.

I agree...I asked for a CLI on my JetBlue AMEX...Ive had it for a year w/no CLI and I dont have much of a balance on it...I had a $2400 bal on it back in Sept because of some wedding things we needed but Ive paid it off and I received a letter from AMEX saying they werent going to give me a measly $500 CLI I requested...I have about $300 bal on this card and Im going to pay it off and sock drawer this account.


Eric

[Eric]

I have:

Hooters $500
Victoria's Secret $250
Best Buy Mastercard $300
Tribute $300
Macy's $100

And I am an AU on my husbands:
Best Buy Mastercard $2000
Capital One $1750

And my FICO is 589

Everything looks good but that Tribute card...I heard they really eat you up on fees...also Lulu make sure you tap into that CLI well at Macy's...they give GREAT CLI's.

[Eric]

I received this in the mail today 5/28....

"Effective July 2, 2008 your Chase Freedom Visa card will be upgraded to include Visa Signature benefits!.... your account will have a credit access line instead of a credit limit and will have no pre-set spending limit*... the upgrade to your account occurs automatically on July 2, 2008."

"*No pre-set spending limit does not mean unlimited spending." --> I just thought that was kinda funny.

How will this go into play? I mean, I read somewhere around here that by having a no pre-set limit cc hurts your score bc they do not report a CL.... What should I do? What are the pro's and con's on this upgrade and how will this benefit/hurt me?

BTW, I just got approved for this card in 03/2008 and im STILL on my 0% APR for 6 months which ends 09/2008. NOT TO MENTION that this is my highest CL of $5500 and my lowest APR of 9.9%!!!

Heres a glipse of all my cards so that you guys can help me with a decision....
1) 01/2007 - Chase Flexible Rewards Visa - $1600
2) 04/2007 - Target - $500
3) 06/2007 - Capital One Visa - $1250
4) 08/2007 - Walmart - $200
5) 12/2007 - Washington Mutual Visa - $1500
6) 02/2008 - HSBC Direct Rewards Discover - $900
7) 03/2008 - Chase Freedom Visa - $5500
8) 05/2008 - JCPenney - $300

Thanks in advance!!!!!!!!!!!!! Your input is greatly appreciated!

The Signature cards are pretty nice because of the no pre set spending limit BUT alot of ppl dont like the way the Signature cards report to the bureaus.

[mousepad]

this feels like a dumb thing to ask but i want to know whats the point of Platinum and Gold cards v.s standard cards?
whats the big deal?
i was reading about the Orchard Bank Premium card, the Orchard Bank Premium Platinum, and the Orchard Bank Classic Cards and its all the same info and no matter what they give you you still end up with only 300 CL.
i am lost cause i called and asked what card was being sent to me and the dude from over seas had no idea what i was talking about.
its like "we will put what ever writing you want on the card if you like" lol

i have been doing some searching and here is what i found

Standard MasterCard® Benefits:

• Worldwide Acceptance
  With acceptance at millions of locations worldwide, no payment card is more widely accepted globally than MasterCard.
• Zero Liability
  Pay only for purchases which you have authorized on your MasterCard card. So long as your account is in good standing, you have exercised reasonable care in safeguarding your card, and you have not reported two or more unauthorized events in the past twelve months. Unauthorized purchases are not your responsibility. Exceptions apply.*
• MasterCard Global Service™
  MasterCard provides emergency customer service anytime, anywhere and in any language. Emergency services such as Lost or Stolen Card Reporting, Emergency Card Replacement and Emergency Cash Advance as well as ATM location information are available.

Valid as of September 1, 2006
Gold MasterCard® & Platinum MasterCard® Benefits:

• Rent & Repair - Includes MasterRental Insurance, Extended Warranty Coverage, Master RoadAssist® Service, Travel Assistance Services, and MasterCard Global Service
• Rent & Save - Includes MasterRental Insurance, Purchase Assurance Coverage, Master RoadAssist® Service, Travel Assistance Services, and MasterCard Global Service
• Shop & Go - Includes Baggage Delay Coverage, Extended Warranty Coverage, Hotel/Motel Burglary Coverage, Lost or Damaged Luggage Coverage, Purchase Assurance Coverage, Master RoadAssist Service, Travel Assistance Services, and MasterCard Global Service
• Smart Shopper - Includes Extended Warranty, Purchase Assurance Coverage, Satisfaction Guarantee Coverage, Master RoadAssist Service, Travel Assistance Services, and MasterCard Global Service
• Value Shopper - Includes Extended Warranty Coverage, Price Protection Coverage, Purchase Assurance Coverage, Master RoadAssist Service, Travel Assistance Services, and MasterCard Global Service
• Travel Plus - Includes Baggage Delay Coverage, Hotel/Motel Burglary Coverage, Purchase Assurance Coverage, Satisfaction Guarantee Coverage, Master RoadAssist Service, Travel Assistance Services, and MasterCard Global Service
• Traveler - Includes MasterRental Insurance, Lost or Damaged Luggage Coverage, Hotel/Motel Burglary Coverage, Master RoadAssist Service, Travel Assistance Services, and MasterCard Global Service

Valid as of September 1, 2006

here is the link http://www.mastercard.com/us/persona...idetobenefits/

[RivasGlo]

The Signature cards are pretty nice because of the no pre set spending limit BUT alot of ppl dont like the way the Signature cards report to the bureaus.

I would like to have a signature card but I dont think im really for that.. I mean thats for people who have high enough credit lines on ALL their cards... Not like me! So ill wait a while till I get some high CL and then maybe ill think about it ;) Thats the only thing I didnt like... the way they report to the bureaus... When I called to deny their upgrade I told him thats the reason and he said that it still reports a CL but you can go over it... But I was like NAH! I know what im talkin about!

[RivasGlo]

i want to ask, how long or do credit card companies offer you your own card if you are or have been a AU on an account?
my sister has chase and discover cards and i would love to have one of those, she is willing to add me but i told her that i wanted to look into it more to see if it would be worth it.

When I got my first cc ever in 01/2007 (Chase Flexible Rewards Visa) after having it like 3 months... I added my fiancee (now my hubby) and at the time we were NOT living together, he kept getting offers at my house for all these cc's. It was weird because he didnt even have a cc or anything on his cr... Hes also on my CapOne and he gets offers from them time to time... I think it just helps when soft pullers look at your cr to see if you qualify for those preapps!

[Eldarwen]

When I got my first cc ever in 01/2007 (Chase Flexible Rewards Visa) after having it like 3 months... I added my fiancee (now my hubby) and at the time we were NOT living together, he kept getting offers at my house for all these cc's. It was weird because he didnt even have a cc or anything on his cr... Hes also on my CapOne and he gets offers from them time to time... I think it just helps when soft pullers look at your cr to see if you qualify for those preapps!

I think your hubby has many cc's now!

[RivasGlo]

I think your hubby has many cc's now!

Actually he doesnt have anything under his own name... He only has a few cards and thats because I have him as AU on CapOne, Chase and WaMu... and he doesnt even use them.. Thats a good thing tho... Im trying to encourage him to apply for at least one card to build under his own name but he doesnt want to. Were both 21 and I think my CC's alone are enough! LOL!

[hjm331]

Rivasglo, you're right. You don't want to go overboard with credit card or else they will get you back later. Good call, try to keep them to a minimum.

[Rob72830]

I applied for the unsecured BofA Visa and got declined. I was then offered the 99/500 card. I printed the application signed it and took it to the local BofA branch on the 18th. The lady there took it and my check and said it would go out in the mail on the 19th. My question is this: does anyone know how long it takes to get the card? I would appreciate any help because I am really looking forward to getting this card since I have heard many good things about BofA. Thanks

[rwmtd]

I applied for the unsecured BofA Visa and got declined. I was then offered the 99/500 card. I printed the application signed it and took it to the local BofA branch on the 18th. The lady there took it and my check and said it would go out in the mail on the 19th. My question is this: does anyone know how long it takes to get the card? I would appreciate any help because I am really looking forward to getting this card since I have heard many good things about BofA. Thanks

Hi Rob72830, I mailed my check for my BofA card about two or three weeks ago and they cashed the check on yesterday (June 20th) I've been told that the card can take another week or two to arrive after the payment is processed. Hope this helps.

[Rob72830]

Rwmtd, thanks for the help, now I know to be looking for it in about a month. I am really looking forward to a big, name brand card. Good luck to you with yours.

[KMoney]

I will be mailing mines off once I get the application in about 2 to 3 weeks

[Meya]

Hi Rob72830, I was wondering if you could share your scores and credit background since you were denied for the visa but offered the 99/500 deal for bofa. I was denied both and my socres were in the low 600's with about 5 baddies then. I had a judgement and 4 co's at the time, but I plan on going ahead and apply for the secured at the end of this year.

[Rob72830]

Hey Meya, my scores and am not positive about but on Experians Triple Advantage is shows 630 for June and my PFICO on Wamu is 646. I have 4 delinquents on my Experian cr from 2005, 2 medical, one charge off on an overdrafted check, and an electric bill. I had CHF in 2004 and was on a medical leave of absence from work waiting for social security disability to start. I finally got it after almost a year of appeals and paid them when I got my backpay. Wish I had known about that letter then that asks them to remove the delinqents if you paid it off. I hope this helps.

Robert