Rewriting my credit goal list

Discussion in 'Credit Talk' started by Saar, Oct 30, 2001.

  1. Saar

    Saar Banned

    Once I've obtained Amex & Citi, I had only 2 other credit goals left for the foreseeable future:

    1. Chase Platinum
    2. MBNA Quantum

    Now that I also got #1 ($12K limit), all there's left is the Quantum... but not quite.

    This is just MHO, but the more I hear about MBNA, the less I want their product.

    1. They keep high APR's and refuse to pass the Prime cuts to their customers.
    2. Their top product, the Quantum, offers non-negotiable 11.49% - 13.49% APR
    3. They are the largest contributor to the banking industry's lobbying efforts.
    4. Phone hold times are sometimes unacceptable.
    5. Quasi-cash transactions (such as PayDirect) are always posted at cash advance rate.
    6. The travel rewards program associated with Quantum is exceptionally inferior.
    7. They put 3 inquiries for a credit application (2 of them on the same CR).
    8. Even promo BT offers are assessed a hefty BT fee.

    Now I know everyone's experience is not the same, but I think I'm beginning to see a pattern here.

    So for the time being, I'm left with no further credit goals. But rest assured, this isn't likely to last very long :))

    Congrat's to all posters who have recently obtained prime credit. Don't lose hope -- it's taken me less than 18 months to get from a blank credit file to Platinum credit cards with America's top 3 lenders (Amex, Citibank & Chase). As CreditWork says, all you need to do is exercise your credit. I'm grateful for the wealth of information found on this board.


    GEORGE Well-Known Member

    I HAVE MBNA QUANTUM BT 1.70% IS OK...BUT THE "GO-TO" 11.99% is pretty high for me (REFUSED TO LOWER IT)...

    I have NOT had a credit limit increase in 6 years...(REFUSED INCREASE)

    It is still the HIGHEST credit limit I have...

  3. creditwork

    creditwork Well-Known Member

    Always nice to be metioned by the up an moving credit builders. I have an MBNA account and I am very pleased with it, I am just not as demanding, also I only use accounts while the teaser rate or permanent rate is below 10. I will never reach my credit goals, I'll always want more.
  4. Jim

    Jim Well-Known Member

    Saar - yours is a real success story in just 18 months.

    In order to work the credit system, we have to understand that system. I too always thank the board for contributing to my success. I should add...

    The board that I discovered by accident a year ago via a 3rd party.

    Best regards,

  5. RichGuy

    RichGuy Well-Known Member


    Don't forget that MBNA does more arbitrary repricing (based on credit reports, not on account performance) than any bank this side of First USA.
  6. Saar

    Saar Banned

    Yes, RichGuy, you're right. We've had some feedback about that, too.

    And I certainly don't want my fees (or inflated APR) financing banks' lobbying efforts in Congress.


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