I just got my BOA platinum VISA today, with a $5000 CL...9.9 APR on balance transfers, for the life of the transfer, and 9.9 on purchases until 10/01...with a 3% fee on transfer and a $39 annual fee. I called to find out what the "go to" rate was after October, and the rep. said that she didn't have that info. The disclosure insert and invitation mentioned rates between 11.4 and 21.4 APR. The main reason I applied was to see if I would be accepted, and I was kind of shocked to get a $5000 CL. I now have a NextCard VISA, this BOA platinum VISA, Sears card and Providian VISA and MC. My total available credit now is $15,000 and my total debt is $2400 and change...I have this debt spread around among the cards so that my ratio is 38% on the new BOA card, (transfers) 9.8% on my NextCard, 5.4% on Providian MC and 21% on Providian VISA, 0 balance on Sears. Interest rates are 9.9% BOA, 12.99 fixed on NextCard and 16.4 on the Providian cards. I really don't plan to use the Sears card much, just got it to build my credit with. My question for the experts is what do I need to do next? I won't be buying a house, as I live with my son, and I have had two invitations for AMEX green but the only reason I might use it, since my son pays ALL the bills, would be for the free internet, and I doubt very much that there will be a free dial-up number in my area. I may decide to apply for an AMEX blue later.
George, My Plat.Visa and MC are both no annual fee and 9.9% fixed APR as long as my account is good standing. (means forever). Ron.
miles, No, I don't think so and I read my card agreement last night. It said it may have annual fees from $0 to $49 and APR from 11.9% and 21.9 t obe determined when the account is opened. That means they decided the terms of the caaount based on the credit history. Even their rewards cards is no annual fees except Airlines rewards card. Ron.
Well, guys, I guess there are different offers on the Platinum...this invitation states "Full Platinum Benefits" whatever that means. I wasn't very happy with the knowledge of the rep I talked to yesterday. There is a grace period on this card, and I am happy with the 9.9 rate for the life of the transfer, considering the fact that I started out with absolutely no credit in Dec. of 1999. I'm still gonna consider this a "Prime" card.
greyfox, Well, it is not the best term that you got and it is not bad to get BofA Plat. in a short time of credit history. I don't think BofA is not easy to get. Back in 84, when I got BankAmericard Visa, it was tougher than this and they verified everything on the application that you have put. By the way, Congradulations!!! Ron.
