Discussion in 'Credit Talk' started by Rupert, May 28, 2000.

  1. Rupert

    Rupert Guest

    Anybody else get this card offer?
    Its preapporved for a $5,000 limit platinum
    but the interest is 33.7 fixed.

    There is no grace period, cash advances are 10% of the amount borrowed?

    It is a platium Visa, and I must beat the expiation date on the invitation to get it.

    Anybody got this?
  2. PJ

    PJ Guest

    I've never heard of them. Are they charging you an application fee? And what is their contact info? Thx.
  3. Jeff K

    Jeff K Guest

    Does 'Fixed' Make It Better?

    33.7%! Is "fixed" supposed to make it better? Good grief! Jesus come clean this temple!
  4. Steven Z

    Steven Z Guest

    Rupert why are you even considering this? Why would anybody considers this massive ripoff.

    Shred it!!

    It appears this is the Associates entry into the sub-prime market.

    My advice stay far far away.
  5. Alex - Cre

    Alex - Cre Guest

    33.7%, NOT good...

    It doesn't sound good, I know people with bankruptcies and charge offs on their record that are paying lower APR's than 33.7%.
    Be careful!


    Bad Credit? No Credit? Let Us Help!
  6. J. Edgar

    J. Edgar Well-Known Member

    You'd get a much better deal from Louie the Loanshark down at the pool hall.
  7. Robert Gra

    Robert Gra Guest

    It's a FANTASTIC deal for someone who needs to impress anyone from business associates to their dates.


    Just pay off right away, or ahead.
  8. Robert Gra

    Robert Gra Guest

    It's a FANTASTIC deal for someone who needs to impress anyone from business associates to their dates.


    Just pay off right away, or ahead.
  9. spyguyjim

    spyguyjim Guest

    Wow! Such a deal. I think getting a cash advance from a check cashing place is cheaper than this b.s. ripoff. Anyone stupid enough to apply deserves to get soaked.

    So, let us know how that pretty card works out for you, okay?
  10. J. Edgar

    J. Edgar Well-Known Member

    I really wouldn't care to do business with someone who I HAD to impress with a platinum card and I certainly wouldn't date someone who was so shallow that it mattered what kind of credit card I use. That's the kind of person who posts a personal ad and insists that you send a picture of your car before they will talk to you.
  11. Eric

    Eric Guest

    Another way of looking at this is that you need credit to get credit.

    If one took this card, and made sure to pay the bill in full immediately, they could then use it as "leverage" for a better card with the same or greater limit with another creditor.

    During my various conversations with credit officers at the CC companies, the issue of what lines I had currently available was not insignificant.

    For example, Joe wants our credit card, he already has another card with a 5K limit. We should match or beat that limit so he switches to our card.

  12. miles

    miles Well-Known Member

    That's extremely high. Are you sure this is not the penalty interest rate you are quoting?
  13. Steven Z

    Steven Z Guest

    No "prime" card has penalty rates this high that I'm aware of.

    With its usurious interest rate and loan sharking cash advance rate as well as no grace period this is a "sub-prime" card pure and simple and the biggest joke since Capital One's pathetic "gold card".

    Moreover, considering how much they screw you from the start its a virtual guarantee that any sorry receipients of this card will be subject to all the typical ripoff antics and screw jobs that are a commonplace sub-prime or First USA practises.

    I ask would anybody want to subject themselves to this just for the "opportunity" to possess a "platinum card".
  14. dogman

    dogman Well-Known Member

    Does Louie charge for ATM transactions:) ???
  15. dogman

    dogman Well-Known Member

    YUP- and some people actually WAX the car B4 they take the picture to post to the personal ad .....
  16. dogman

    dogman Well-Known Member

    At least if the prime goes up, this 33.7% won't! Gosh. That's as high as ASPIRE cards.
  17. Robert Gra

    Robert Gra Guest

    J. Edgar, you are not the only person posting here.

    Read the other posts.
  18. J. Edgar

    J. Edgar Well-Known Member

    Nice try Bobby. Hiding behind a proxy server is very clever.
  19. Steven Z

    Steven Z Guest

    I was thinking the same thing, but remember Aspire cards DO have a grace period and its charges for cash advances aren't within a light mile of Associates. The only advantage the latter has is the higher limit. But as recent posts have discussed card issuers (with the noted exception of Capital One) love to give out increasingly higher limits while very reticent to lower the interest rate, I mean really who here would want to carry 5k debt at 33.7% interest.

    The fact that there is cause for comparison between these two cards PROVES it is a sub-prime card though you'll NEVER get Associates to admit that. But then you don't see Capitol One admitting same for its piece o @!#$ 'gold card'.

    About the ONLY advantage I see for holding this card is as Eric states for leverage in obtaining another company's 'real' Platinum card whereupon you should dump it immediately.

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