Opinion on Fleet Credit Cards

Many people on this board support Fleet, but I've had too many bad experiences with them and my advice is basically,....run. As long as you either payoff your card in full or carry a very small balance (ex. 10%) of your credit line they shouldn't pull any sudden moves. If you carry a large balance on your card for several months expect the interest rate to sky rocket sometime in the next 6-18 months (of course, you will not receive any notification to this change). Then if you close the account your interest rate will increase to a cheap and affordable 26.99%. Fortunately, they have never posted any of my payments late, but the interest rate bonzana was enough for me not to recommend them to anyone.

Dani

 

I have 0.00% on purchases and BT till APRIL 2002 with a "GO-TO" 9.99%.

 

I've had a Fleet Platinum for over 2.5 years now carrying a balance of around 2K... I've had no problems with them. No rate increases, payments post on time. I would recommend them. My APR is 7.9

 

My brother-in-law had a Fleet Gold card. Fleet recently closed his account, the reason was that his debt to credit line ratio was too high.

He bought a $6k Rolex for his wife. I think Fleet dropped him because he paid off the balance and carried a zero balance for 6 months. I know Fleet jacked up his APR to 24.99% in 6/2001 which lead him to pay off his balance.

I checked his TU score last month, his score was 707. So his credit is prime.

Best wishes,
Mirage

 

I had a Fleet Card. When my total credit balances were high, they jacked the rate about 2 points. ("Risk"). So I sent in two big payments in one month; they never got the first one, the second one they got a few days after the due date (late). I got them to take off the late charge, but they jacked the rate to 26.99% anyway (because I had had another "late" that had had the late charge reversed in the past 6 months.) The interest rate had varied up to 27.4% the month before I paid it off.

The month I paid it off was when the higher rate expired, and I was put back at my "regular" rate, which was still higher than my original rate.

-ingenue

 

Mirage,
I had Fleet Advance Card for two years and I don't have any problems with them. I didn't use it that more and I used to pay for my dinner and grocery. Every half a year or so I used their automated system to increase my credit limit. I never owe any money on the account and I paid it off every month.


Ron.

 

I have 6.9 till paid. I have never had any problems with them and my debt to income can be over 1:1 at times.

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