The other day my husband received a solicitation to apply for an Associates Visa Gold card. It seems like a sub-prime card since it has a variable interest rate and states as of 5/10/01 the interest rate was 24.9%. It is unsecured without any fees. It states that if unqualified for a Gold card, a Visa Classic card may be received instead. I can't imagine a prime Gold card with such a high interest rate. The credit limit for the Gold card would be between $2000 and $4000; the Classic credit limit would be between $300 and $2000. My husband has an unsecured MC through another bank and would like to have a Visa. He would not carry a much of balance on the card so the interest rate would not be an issue for him. Since we have a prior BK and are trying to rebuild and avoid inquiries, should he take a chance a try to accept this card? I been told to stay away from certain cards, is this one of those cards to stay away from? Anyone else get this solicitation?
I have an Associates card, current rate is 13% with an $11,300 line. They are good for teaser rate offers, I have had no problems with them. www.creditsense.com
I have the Associates Gold Mastercard w/$2,000 credit limit/18.9%/no annual fee; I think you should perhaps try for it because it is a a BETTER card now since the Citibank acquisition of Associates(they have became better to deal with). Sister Girl
I've been very pleased w/ the Associates. They've lowered my APR from 18.9% to 10.4%. Customer Service is very good. Saar
I don't think I can ever get a Citibank card again (they charged off my Mastercard in 1996) so when I got a preapproval for a Shell card through Associates last month I took it even though I don't really need a gas card. I'm hoping that after a while they'll offer me one of their visa/mastercards.
Dave, If the charge off is from "96" you have a "great" chance and being off their blacklist. I know of 2 friends of mine that had chargeoffs from Citi back in "98" and they got the AA cards when they were so hot, no problem. I know of another poster here, can't remember their name but they also had a previous charge off from Citi and got new accounts as well. I honestly think there is a timeline in years you stay on the internal records, not exactly sure what maybe 10 years?? Have you ever applied for a Citi card??
When everyone was getting their Citi cards here in March I applied and was denied. The reason codes for the denial though did not have anything to do with my charged off account. But I didn't know if they would come right out and say it or not. Maybe this time next year when Lexington has been on the job for awhile I'll try again. Thanks for the encouragement.
Well I believe most that were still on their blacklist and were denied were told it was for that very reason. I think if that was the true reason they would have came right out and told you so. Good luck with Lexington
I sure would have no problem paying my bill if they ever gave me a Citibank card again. I now live about a half mile from the payment processing center I used to have to send my payments to.
Thanks all. I just don't want hubby to waste a hard inquiry. Funny though, I'm the one with the Amoco and Shell accounts. Am I right though in assuming due to the high interest rate that this is a sub-prime card?
Yes, but one of the best among those. It won't be a waste of inquiry. One thing to keep in mind though. You need to call them at the beginning of each month, to see if they have a lower rate available for you. That's how I got the APR reduced from 18.9% to 10.9% at one time, and 10.9% to 10.4% at another. Saar
Associates has treated me well, as a matter of fact after reading these messages I called to see if they would give me a credit line increase. Well............they put a request in for me but also told me I was eligible for another APR rate! I just got mine lowered from 23% to 19% 2 months ago, they lowered it again today to 14.1%! Not bad huh. Funny about Associates............I got denied by Aspire (at an APR of 35%)............but they approved me? Go figure? I think they are great.
Does Associates have a web site where I can apply for the Gold Card on line, or do they only take application via mail solicitations?
http://www.theassociates.com/pf/credit/portal/acq_index.htm Click on the card you want, the image will appear on the center w/ an "apply now" button. Mine was approved online. Saar
Anyone get approved directly online or did you get the 7 day wait deal? Shoudl I call them and ask if it was approved or not? Thanks Kevin
