Hello gang, Today I received an offer on a card that almost seems too good to be true. I thought I would share the information with the rest of you, in case this truly is a good deal / if any of you have suggestions to warn of caveats. The promotional material states a "Platinum Visa card with our lowest rate in years" by BankOne (First USA) stating a No Fee, up to $100k limit, with 6.9% Fixed rate claiming "This is not an introductory APR" yet later, in the fine print asterisks at the bottom of the page, it does mentiuon "You understand that all terms of your account, including APRs, are subject to change." Although that bullet would normally scare me, it seems to appear on every offer I receive (credit card companies tend to want to change your APR if you ever miss a payment, etc) - so I'm considering this offer. I guess this is motivation to get the FIVE hard inquiries's removed from that damn auto-dealer that I was duped into.
555555555555555555??????? i thought 3 was bad why not try standing in front of the dealer with a big sign that says "they will hit your credit 5x, go somewhere else" LOL
B/C 95% of the Public wouldn't understand what that meant. Sad but true. It is very funny when I discuss issues from here with (smart) friends and co-workers - most of them do not have a clue about credit workings.
Re: BankOne running 6.9% Fixed Prom Bait and switch is F.USA's normal course of business. This company specializes in jacking up rates for any reason or for no reason. Also, they are among the very few lenders who compute your interest based on 2-cycle billing (rather than average daily balance). This means you effectively pay a lot more than 6.9% http://members.tripod.com/fusa1/ http://www.epinions.com/finc-Credit-Cards-Standard-A-E-Bank_One/display_~reviews Saar
Re: BankOne running 6.9% Fixed Prom Saar, What other companies do you know use 2 cycle billing? I know Discover and FUSA, who else do you know of so I know who to watch out for?
Re: BankOne running 6.9% Fixed Prom My First USA does not do 2 cycle billing. It is a Wachovia card that FUSA bought so maybe that is the reason. They have me at 6.34% apr right now also, Granted it's variable, but it has never exceeded 9.9%
Re: BankOne running 6.9% Fixed Prom Yes, FIVE. I can't believe that with everything I've done/learned about credit, I still let this happen. I guess I never did much reading on inquiries prior to that because I only averaged two per CRA/year. Thank you VERY much, Saar for your input! This is great input. It also brings up a valid topic: What are the most stand-up companies in credit? I've had a Citi card since I was 18, that has been good - I did *not* like dealing with Cap1 or Household at all, and I have heard good things about Chase. But that's about the extent of my experience with revolving credit. Do you have any suggestions as to the better consumer credit providers - or possibly a web resource to do more reading on the strengths/weakness of the alternatives? Thanks again!
Re: BankOne running 6.9% Fixed Prom That is a very good idea. A list compiled by users who have the cards. My best experiences (and highest opinions) of CC's companies are 5 favorite 1. Citi (includes the ATT universal card and my gas cards) 2. Citi (they seem to be the best for me so they get two spots) 3 MBNA (always generous on CL and you can negotiate APR fairly easy) 4. National City (see MBNA reasons) 5. Wachovia/FUSA/Bankone (whoever they are now. They again are genrous on CL, APR is competitive, customer service is easy to deal with for me) Again this was orignally a Wachovia account and still under the terms I had with Wachovia so things may change if/when they convert the account. 5 Worst (imho) 1. Discover (never negotiate on anything with me. I did get a 1% apr drop to 16.99 once) 2. Cap1 (we all have our reasons for them, but no CL reporting to CRA's and their stingy limits when opening accounts. ALso their Fees) 3. Household (fees (easily waived though) and low CL 4. Fleet (these guys don't ever seem to know exactly what is going on. Also if you over pay your account they put a freeze on your available credt for 10 days) 5. AMEX. Too many dang departments handling the same thing, I have found their unlisted numbers on this board that can so wonders for your account (APR on my BLUE is 8.94% currently), but sometimes they ask how I got the number and I tell them from a Front-line CSR. Then they seem upset.
Re: BankOne running 6.9% Fixed Prom 2-cycle Billing on cards that I have: - FUSA (most cards) - Cap1 (TJX card) - Discover (Plat.) Any others? The P.I.T.A. (pain in the ***) with this is that when you do pay off the card in full, you will still have an interest charge based on your PREVIOUS cycle average daily balance. This isn't an issue if you pay off in full monthly ... but if you ever decide to revolve, you'll pay a little extra. -mj
Re: BankOne running 6.9% Fixed Prom Interesting. I didn't know they had products w/ 2-cycle billing. "TJX"? Saar
Re: BankOne running 6.9% Fixed Prom I agree about citi... i have always loved dealing with them... i love them so much that even tho I live in a state with ZERO citi branches, my main check/savings are still in nyc with citibank their online banking is the best, cust service is the best.. if citibank was a woman i would SO marry her. LOL
Re: BankOne running 6.9% Fixed Prom I'd recommend MBNA. They are very easy to work with and provide CL increases all the time (unless you're George of course <g>). They also deal with APRs quite regularly. I've never had them turn my down for a lower APR any time that I've called. I also like Amex, but it's a little more difficult to get approved for a credit product from them than MBNA
Re: BankOne running 6.9% Fixed Prom Everyone has a different experience. I was was instantly approved for multiple Amex cards, but not for MBNA ones. MBNA doesn't even have an instant approval of card applications, and when I applied they asked for paystubs. I refuse to furnish any type of income verification documents; That didn't stop Amex, Citibank, Chase, Discover, and Bank of America, from giving me some of their best products. Saar
Re: BankOne running 6.9% Fixed Prom THAT IS RIGHT~~~NO 2 CYCLE...(FIRST USA) But I still worry about "JACKING" for NO reason--->22.49% [EDIT] Two-cycle average daily balance method (including new purchases). IT MUST DEPEND ON THE "EXACT" CARD...
Re: BankOne running 6.9% Fixed Prom From the firstusa.com website, re: Bank One Platinum Visa® Card (by First USA) -- Saar
Re: BankOne running 6.9% Fixed Prom Well, Bank One and FUSA have multiple credit cards and programs. I wasn't saying all of them were like mine.
Re: BankOne running 6.9% Fixed Prom is there a place to understand what double cycle avg balance means? thanks
