Does anyone know anything about First North American National Bank? It is a Circuit City/CarMax company. I received an application in the mail from them today, which I do not recall requesting. Only thing I can figure, I sold a car to CarMax about 6-8 months ago. Anyway, does anyone know what their approval rate/requirements are? It doesn't look like a prime card, as the interest rate is 22.05%, with a 25 day grace and $25 annual fee. Any information would be appreciated, as I don't want to waste yet another inquiry as I did on Travelocity this morning. Thanks... Lucy
Hi Lucy, There was a thread a couple of weeks concerning this bank. I would hit search and type in FNANB. It is a prime card (typical interest rate ranges from 14-23%, I believe). There approvoal rate is pretty lenient for persons with a negative or two on their credit report. No annual fee and if you have been a good paying customer they will remove the occassional late fee without a lot of harassing. Hope this helps. Dani
Sorry Lucy for the misinformation. I just read they're charging an annual fee now. It must be something they began recently. If approved you could probably get it dropped though. Dani
Dani: Not according to the info I received. The interest rate is 22.05% with a $25 annual fee. I called the so called customer service number and she said she couldn't give me any information on their criteria, but they have a card for almost anyone. Somehow I doubt it. I have only managed to get a First Premier and CCB card, I couldn't even get an Orchard Bank card. I doubt that it's worth my time to fill it out and send it in. I did read the thread you refer to, and it didn't help me at all.
I'm sorry I couldn't help you. My dad had the card for a couple of years (closed it last year) and his interest rate was 14.99%, I think. At the time they didn't have the annual fee and they were pretty good on increases, too. As you said, they probably have a variety of cards which explains the difference in interest rates and fees. Dani