KMart Mastercard Invitation

Discussion in 'Credit Talk' started by Erica, May 25, 2001.

  1. Erica

    Erica Well-Known Member

    Hey all,
    I just got back from the mailbox, and there was an invitation to apply for a KMart Mastercard. All I have to fill out is my SSN, DOB, and Phone Number.

    Is an invitation the same as a preapproval?
    And is this card considered Prime?

    Thanks in advance.
  2. DaveLV

    DaveLV Well-Known Member

    Isn't this card issued by Capital One?
  3. Erica

    Erica Well-Known Member

    Yes, it is. The reason I am asking is that it has a 0% intro rate on Kmart purchases and 9.9% intro rate on other purchases. I'm still new to the credit card "game" and don't quite know what's good and what's not.
  4. DaveLV

    DaveLV Well-Known Member

    What's the rate after the teaser period?
  5. Erica

    Erica Well-Known Member

    19.8% at the January statement.
    25 day grace
    $4 monthly participation fee.
  6. DaveLV

    DaveLV Well-Known Member

    I'd say anything with a monthly participation fee is not prime.
  7. Erica

    Erica Well-Known Member

    ok, thanks. do you know what the odds are of approval? I need another card, but I don't need it bad enough to waste an inquiry. Thanks.
  8. steve

    steve Well-Known Member

    I think invitations have much better chances of being approved than pre-approvals. The latter just means you meet the criteria for applying, but I don't see many invitations resulting in denials from the people I've spoken to.
  9. PSUgirl

    PSUgirl Guest

    If your not positive that your credit is good enough to get the card, dont apply.

    If they asked for your Social security number, they will pull your credit report.

    You should call them and ask what are the qualifications for the card.

  10. Marie

    Marie Well-Known Member

    Go ahead and apply. When you get the card, you can call in and get the fee rebated. I got mine rebated every month. Then 3 or so months after having the card, I used Planetfeedback and I got the part fee off completely.

    They're a good company to build credit with and they'll grow with you. A little tight on credit lines but decent terms all in all.
  11. Ron

    Ron Well-Known Member

    I got a mail offer for Kmart Mastercard from Capital One last year and they offered me the terms:
    Annual Percentage for non-Kmart purchases : a fixed rate of 11.9 %
    APR for Kmart purchases: Afixed APR of 0.0% through first six full billing periods. Thereafter, a fixed rate of 11.9 %.
    Grace period: 25 days.
    Annual Memnbership fee: None

  12. DaveLV

    DaveLV Well-Known Member

    Was that APR of 0% for K-mart purchases for six months a recurring thing, or could you only use it one time?
  13. AnnMarie

    AnnMarie Well-Known Member

    When I got my Cap 1 Kmart card it was 6 mos interest free for Kmart annual fee.
    I just got a coupon for 10% a single shopping I bought a PS2 :)


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