"Instant Approval"

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Written by: cabana7 on 2009-04-30

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cabana7's review: Issued by RBS was approved instantly online for $2000 Don't really need any new credit I actually closed several accounts Chase, Hooters and replaced with this card. They pull equifax and my FICO at the time was 724. Chase was difficult raised my apr even though I paid perfectly and never carried a balance except for a short time after Christmas. This card will save me a little on gasoline about.15 per gallon.

4 Comments

Comment 1 by colonative
Congratulations, But.... on 2009-05-02

If you can, you should avoide closing out older accounts (especially with prime lenders like Chase) and opening new accounts. It drops your score.

If you can, take the APR increase for a few months and then call to request a decrease. Most creditors will oblige for someone with your credit scores.
Comment 2 by wanderer
What Were You Thinking? on 2009-05-03

Go look at he on-site reviews for this card (there are nine). It is scarey. In today's credit environment slow careful steps and sit it out!!! I have had several credit card issuers lower my APR's in the last month... But I move carefully. Closing Chase (a big name)? Gads!!! As to the best Chase rate posted is 9.24% and affiliate cards was 10.24% APR Purcases and 19.24% Cash and now at 12.24%. You need to cool... Real cool with credit until the world quits spinning!
Comment 3 by cabana7
Appreciate The Advice on 2009-05-04

My opinion is that it's time for us the customer to take things into our own hands... I use my cards a lot but almost always pay the balance in full except on occasion spreading it over 2 months... If some banks don't appreciate your business others will and so will credit unions. My score actually went up 3 points... And I consider my score a long term issue it goes up a little goes down a little but I still keep plugging along.

Again I appreciate the advice however long term the banks need our business to make money and the ones that are good to you now well those are the ones to stick with in the future.
Comment 4 by wanderer
Banking & Credit Is A Game on 2009-05-27

We are but pawns in a game of "greed" involving high finance. If we all could stick together (organize) we might have some impact. Without being organized we are but one. The game is about making money and nobody really cares about us the consumers. The new law just signed by the President is the first non-bank fight back that has been done on our behalf for as long as I can remember!!! There is life after a banking and credit crisis but it will be awhile. Sure do understnad your point of view and frustration!!!
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