Shell MasterCard Question

Discussion in 'Credit Talk' started by FeliceRodo, Jul 15, 2001.

  1. FeliceRodo

    FeliceRodo Well-Known Member

    I got one of those preapproved things in the mail, and i normally throw them out, but this one was for shell gas. it said that you get 5% of the money you spend on shell gas and 1% of whatever you spend on anything else towards free shell gas. but i noticed in the fine print on the back that if you carry a balance from statement to statement that you are charged a $.50 charge for each transaction you use the credit card for. i've never heard of that on a credit card before. is it normal? it is a mastercard in case you were wondering. the reason i wanted to get this one is because you can transfer balances, and it has a lower %age than my existing mastercard. is that .50 thing something i should be suspicious of, and are gas cards good? okay thanks a lot for reading this and trying to help me out.
     
  2. GEORGE

    GEORGE Well-Known Member

    ARE YOU SURE???

    There is $0.50 MINIMUM FINANCE CHARGE on some cards...
     
  3. GEORGE

    GEORGE Well-Known Member

    Minimum Finance Charge
    for Purchases
    $0.50 (if a finance charge is imposed)

    Transaction Fee for
    Purchases
    None
     
  4. Nave

    Nave Well-Known Member

  5. GEORGE

    GEORGE Well-Known Member


    I ALREADY POSTED THIS ABOVE...BUT HERE IT IS AGAIN...
    Minimum Finance Charge
    for Purchases
    $0.50 (if a finance charge is imposed)

    Transaction Fee for
    Purchases
    None
     
  6. DaveLV

    DaveLV Well-Known Member

    I'm envious... I'd love to have this card. I did get the standard Shell card a few months ago, but I don't think that will help me get the Shell MC because the two cards are offered through different banks.

    A 5% rebate on gas purchases is noting to sneeze at. That's definitely a pre-approval I'd send back in.
     
  7. FeliceRodo

    FeliceRodo Well-Known Member

    George - it says .50 surcharge per transaction to be imposed if the balance is not paid in full. That is way I am reading it but maybe I can let someone else look at this thing and figure it out.

    Thanks for the links and help everybody!
     
  8. GEORGE

    GEORGE Well-Known Member

    OK, I'll look for those words...
     
  9. GEORGE

    GEORGE Well-Known Member

    Can't find those words...maybe that's something new...
     
  10. mj

    mj Well-Known Member

    I've got this card and there is no per-transaction fee.

    They even offer a nice feature right on the monthly statement - "if you pay at least $xxx, no finance charges will be imposed on Shell Gas purchases. This amount will also satisfy your minimum payment due."

    It works out that as long as you pay your new gas purchases, you get a grace period on them, regardless whether you revolve other balances or not.

    I like that because they offer some good balance transfer rates and I am a teaser-rate-hopper. Beware, tho, Chase has started charging 3% for balance xfers (they cap it at $29, so it's not too bad when you factor in the 6 or 9 months at 4.9...)

    I've always appreciated Chase's clear and forthcoming disclosures. They are a good bank to do business with (no hidden junk). That's why I was surprised to see your post.

    Double check the verbage (maybe post it here word for word) and we can try to decipher it? It's not always clear, god knows!

    Best,
    mj
     
  11. Mist

    Mist Well-Known Member

    Beware of Chase. Their cardmember agreement includes drastic punitive APR increases based on your credit reports. They DO check them regularly (every month in some cases) and can and WILL raise your APR if you have any changes, even if all that changes is your debt/cl ratio.

    Go out and buy something using credit, even with the intent to pay in full the following month and your ratio, for that particular month has gone up...Chase says "Cha Ching!" and raises your APR. They aren't the only ones doing this but they seem to be more predatory about it.

    Another thing to beware of is that you waive the right to sue in court. All disputes must go to arbitration. I dumped Chase years ago.
     
  12. GEORGE

    GEORGE Well-Known Member

    Mist
    Go out and buy something using credit, even with the intent to pay in full the following
    month and your ratio, for that particular month has gone up...Chase says "Cha Ching!"
    and raises your APR. They aren't the only ones doing this but they seem to be more
    predatory about it.
    -------------------------------------------------------------------------------------

    That is why I had to over pay DISCOVERCARD for a few months...(HAD TO PAY THAT MONTHS BILL PLUS GUESS AT HOW MUCH I WAS GOING TO SPEND THE FOLLOWING MONTH, AND PAY THAT TOO)..."FLOAT KILLER"

    The credit reports kept on reporting the amount owed on the BILLING DATE...

    I MUST PAY DISCOVERCARD IN FULL EVERY MONTH OR THE CASH BACK IS USELESS...IT WON'T EVEN COVER THE INTEREST @ 16.49%!!!
     
  13. mj

    mj Well-Known Member

    Mist- you've just described most prime lenders out there who use "risk based pricing."

    I've not seen any changes - in fact, our ratios have gone up substantially since we've gotten the card ($40k in new lines + $20k in new loans, plus a new car payment). No changes.

    They seem to pull our credit 2x/year.

    Maybe they treat accounts differently based on when/how they were opened (i.e. student card, classic, gold, platinum)? I will say that they are sticklers about credit line increases, but we have gotten them to go up on a platinum visa (9k to 15k), but it took a hard inquiry.

    I've always had a good experience with them. In fact, we're probably going to refinance our equity line with them (versus Fleet).
     

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