Credit Card Companies Good/Bad

[XNine]

Alright, well, Capital One sucks balls. But I was wondering if any of you know a "good" Credit Card company to go with. One who has a low APR rate and one that will help rebuild my credit.

Any info appreciate!

[iGary]

MBNA sucks ass. Get this - I had a card with them for 12 years - always paid on time - ALWAYS.

In 2000, I had to charge a boatload of medical expenses on credit cards because I didn't have insurance. So, all of my creidt cards (3 at the time) were maxed, and MBNA perceives me as a credit risk (because I'm like all maxed out) and jacks my 9.9% rate to 26%. I have never missed a payment on one accoutn in my life. I've been maxed a couple of time because of business/health issues, but I have always paid.

So I called them to ask about it, you know, because I had 12 years of on-time payments and they said my best bet was Credit Counseling. Heh.

So when I got another job, I paid off the card and cancelled it. The lady said "I'd like to transfer you to our retention department to see if there is anything we can do to keep you as a cutomer." I said: "You guys ****ed that chance up last year when I needed you."

Citibank now has all of my business - they increased my rate to 19% when I was out of work and near my limit, but they didn't hijack me like MB effing NA did. Funny thing is I was doing a story for a magazine last week and had to go to a boat factory, and the president of MBNA's boat was just being finished.

The name?

"Charge It"

Asshat™

[floriflee]

Well, I'm not sure about good credit cards, but I can tell you not to go with Discover. They call you incessently trying to get you sign up for things after you've got their card. The Chase Manhatten bank cards may also be a pain if you ever have to deal with their customer service.

I like American Express, but the APR isn't low and the card I have has a yearly fee. Perhaps some of their other cards would be more fitting for you, though?

Other than that I've used USAA, which I liked, but you, your spouse or one of your parents has had to have been in the military.

[XNine]

MBNA sucks ass. Get this - I had a card with them for 12 years - always paid on time - ALWAYS.

In 2000, I had to charge a boatload of medical expenses on credit cards because I didn't have insurance. So, all of my creidt cards (3 at the time) were maxed, and MBNA perceives me as a credit risk (because I'm like all maxed out) and jacks my 9.9% rate to 26%.

So I called them to ask about it, you know, because I had 12 years of on-time payments and they said my best bet was Credit Counseling. Heh.

So when I got another job, I paid off the card and cancelled it. The lady said "I'd like to transfer you to our retention department to see ifthere is anything we can do to keep you as a cutomer." I said: "You guys ****ed that chance up last year when I needed you."

Citibank now has all of my business.


Yeah, well I have an experience with Capital One. I've had that card since I was 18. When I was 20, I sent in a payment, and they said that it was late. They charged me 25 bucks on top of that. Then it happened about 12 more times from then til now (4 years) and I'm just about to pay this off. Needless to Say I send my payment 3 1/2 weeks before it's due.

It's not nearly as bad as your story, it still sucks. I just need a Credit Card that's fair and will help me build my credit back up.

[quigleybc]

MBNA sucks?

I figured as much when I used to see them trying to pawn their cards at my University to anyone that would listen..

glad I never stopped to chat and receive my free keychain, or whatever they were handing out that day

I only have a $500 limit visa card from my bank and that's all I want.

[mcarnes]

Advanta has been good to me so far. 5% cash back on purchases. I get something like an $80 check every few months. No annual fees, etc. As with all CC, just pay off your bill in full each month.

I would not recommend MBNA or CapitalOne. I hate American Express with a passion (long story).

[iBlue]

american express is pretty decent i think. i've heard good things about citi as well.

[ejb190]

I have had really good luck with Discover and CitiCards. I always pay off the whole ballance every month. One time I wrote a payment check for one cent less then I owed. It cost me $1.58 in interest and service charges for a one cent error.
I just need a Credit Card that's fair and will help me build my credit back up.
My mom is a loan officer for a small bank. I have heard her say time and time again that a credit card is not a cheap or fast way to build credit. A good car loan will do just as much good. Talk to a financial expert about other options on building your credit.

[blackfox]

Advanta has been good to me so far. 5% cash back on purchases. I get something like an $80 check every few months. No annual fees, etc. As with all CC, just pay off your bill in full each month.

I would not recommend MBNA or CapitalOne. I hate American Express with a passion (long story).
I also recommend Advanta. Also had an MBNA and Citi card, but prefer to limit my deficit-spending temptations. So I kept my favorite and cancelled the other two...

[maya]

I have had no problems with:

Citi.
AMEX.
Master Card issues via bank.
Visa Card issues via bank.

I have never had any issues with any of the above, not a single one. They keep telling me if I want a limit increase when I call for some issue that I might have in regards to that might have been another companies fault. :)

[maya]

american express is pretty decent i think. i've heard good things about citi as well.


If you want to hold an AMEX you have to make a certain amount each year. I know they denied me when I was 18 since I didn't make enough per annum.

Citi is alright. I basically use what I can get back from certain credit cards. Cash Back, points, club points, etc.... ;) :)

[CorvusCamenarum]

MBNA sucks?

I figured as much when I used to see them trying to pawn their cards at my University to anyone that would listen..

glad I never stopped to chat and receive my free keychain, or whatever they were handing out that day

I only have a $500 limit visa card from my bank and that's all I want.

I think they do that at every university/college that will let them. There's [good] money to be made in preying on often credit-ignorant college students.

Funny story: they were at my school in my undergraduate days, and when walking past one of their tables, the guy behind the counter asked me if I would like a free gift. I said yes, picked up a one pound bag of peanut M&Ms, and continued walking.

[floriflee]

If you want to hold an AMEX you have to make a certain amount each year. I know they denied me when I was 18 since I didn't make enough per annum.

Citi is alright. I basically use what I can get back from certain credit cards. Cash Back, points, club points, etc.... ;) :)

Do you know what the salary requirements are? I got an AmEx card that I like (gets me double miles lots o' places), but I also pay a yearly fee to have it. Maybe that makes a difference? I pay off the amount each month so I'm not even sure what the APR is....

[LethalWolfe]

My mom is a loan officer for a small bank. I have heard her say time and time again that a credit card is not a cheap or fast way to build credit. A good car loan will do just as much good. Talk to a financial expert about other options on building your credit.

But what if you don't need/want a car...?

I have a Visa, MC, and Amex Blue. I haven't and problems w/any of them. The Amex is only a couple old, the MC is about 6 and the Visa is 8 or 10.


Lethal

[rdowns]

I have an Amazon.com card I use strictly for business. As I recall, the APR is reasonable. I charge about $20K per month and the balance is paid in full each month. I get a $25 Amazon.com gift certificate for every $2500 charged. I have a ton of these sitting around and I need nothing.

[maya]

Do you know what the salary requirements are? I got an AmEx card that I like (gets me double miles lots o' places), but I also pay a yearly fee to have it. Maybe that makes a difference? I pay off the amount each month so I'm not even sure what the APR is....

To even be considered for an AMEX card basic you have to have an annual income of 24k per annum. I was slightly under that when I was 18. This is in Canada by the way and its a no fee card.

I know you can call AMEX and ask them for the base requirements as the US might differ to some extent compared to Canada. I personally do not believe in paying a fee for a card other than a late charge.

No Fee is the way to go. Call AMEX and ask for the base requirements. :)

[maya]

I have an Amazon.com card I use strictly for business. As I recall, the APR is reasonable. I charge about $20K per month and the balance is paid in full each month. I get a $25 Amazon.com gift certificate for every $2500 charged. I have a ton of these sitting around and I need nothing.


You can sell off those gift certificates. ;) :D

[rdowns]

Nah, people would only want them at a discount. The earliest ones don't expire until November 2006 (then you get a 6 moNth grace period) So I'm sure I'll spend them. Also good for gifts.

[Kwyjibo]

Amex's blue is a credit card not a charge card and I've been using it. I don't carry a balance so APR isn't too much of a concern but it was decent for the intro period. Get a credit card not a charge card with AMEX so you can build some credit.

[XNine]

Wow, thanks for all of the information friends! I unfortunately am about to pay off my first car ever (a 97 civic, not all suped up). So, I was going to take the payments I was making on that sucker and put it toward a big screen TV and Lasik (both go hand-in-hand)

Thank you much for the advice! Now I have MUCH to look over and think about! :)

[Chip NoVaMac]

MBNA sucks ass. Get this - I had a card with them for 12 years - always paid on time - ALWAYS.

In 2000, I had to charge a boatload of medical expenses on credit cards because I didn't have insurance. So, all of my creidt cards (3 at the time) were maxed, and MBNA perceives me as a credit risk (because I'm like all maxed out) and jacks my 9.9% rate to 26%. I have never missed a payment on one accoutn in my life. I've been maxed a couple of time because of business/health issues, but I have always paid.

So I called them to ask about it, you know, because I had 12 years of on-time payments and they said my best bet was Credit Counseling. Heh.

So when I got another job, I paid off the card and cancelled it. The lady said "I'd like to transfer you to our retention department to see if there is anything we can do to keep you as a cutomer." I said: "You guys ****ed that chance up last year when I needed you."

Citibank now has all of my business - they increased my rate to 19% when I was out of work and near my limit, but they didn't hijack me like MB effing NA did. Funny thing is I was doing a story for a magazine last week and had to go to a boat factory, and the president of MBNA's boat was just being finished.

The name?

"Charge It"

Asshat™

I had a similar issue with American Express last year at the time of the split-up with my ex. Was trying to fix up my TH for sale, and get new stuff for my new apartment.

They cut my limit to what I owed, and raised the interest rate. This was based on my "maxxing out" my credit lines, and GMAC reporting that my ex's credit card - which I found out I was an "authorized user", with out my knowledge or permission!

To Amex's credit, they did lower my rate when I got GMAC to fax them the error. To Suntrust's credit (I think that it is through MBNA) they came to my rescue by increasing my limit after contacting my realtor to confirm that my house was going on the market.

Sad state that for those of us that viewed credit cards as a lifeline during hard times, can't rely on them like that any more.

[Chip NoVaMac]

o, I was going to take the payments I was making on that sucker and put it toward a big screen TV and Lasik (both go hand-in-hand)

Thank you much for the advice! Now I have MUCH to look over and think about! :)

Better IMO to try to stay debt free. Put that extra money aside till you can pay for both in cash.

[OldCorpse]

I second the Amex Blue. It's a very low APR (for me it's 8%), and they give really good credit limits (high), plus you can enroll in rewards etc. I've had it for 3 years now and I like it... I've had my regular Amex Gold for 11 years, and it's fine, but the APR is high (14.9%)... the Amex Gold you usually have to pay off (charge card), but it can also work like a cc.

However, AmEx cards are not accepted everywhere. For Visa, I've had good luck with Citi.

Stay away from anything to do with Providian though.

[D0ct0rteeth]

Better IMO to try to stay debt free. Put that extra money aside till you can pay for both in cash.


Amen, my brotha.

Amen.

[bemylover]

citi did not give a credit card to me :)

I have amex gold with great credit history, and I recieve several mails every day offering pre-approved credit cards. And I just wanted to have one from citi, as I have my bank account there and they said no :) weird people.

[Chip NoVaMac]

citi did not give a credit card to me :)

I have amex gold with great credit history, and I recieve several mails every day offering pre-approved credit cards. And I just wanted to have one from citi, as I have my bank account there and they said no :) weird people.

I may be wrong, but CITI among others uses the double daily balance method of computing finance charges. This can cause you higher interest rates if you choose to carry a balance.

[bemylover]

I may be wrong, but CITI among others uses the double daily balance method of computing finance charges. This can cause you higher interest rates if you choose to carry a balance.
I don't care, as I won't take their card even if they ask me on their knees. I've never been so insulted in my whole life.

[kygeographer]

I've had GREAT luck with Chase, personally. Generally low interest rates (one of my cards is fixed at 10.99, and has been for the last 5 years), and their customer service is pretty good too.

[OnceUGoMac]

citi did not give a credit card to me :)

I have amex gold with great credit history, and I recieve several mails every day offering pre-approved credit cards. And I just wanted to have one from citi, as I have my bank account there and they said no :) weird people.

Pre-approved applications don't mean jack. They calculate those things months before you ever receive them.

[yg17]

I have an Amazon/Chase card. They've been good to me. 0% APR for 6 months (took advantage of that to buy expensive things I wanted a couple weeks before payday :D) and as mentioned before, after you spend so much money, you get a $25 Amazon gift certificate. Plus, as long as you apply through Amazon and get approved, you get $30 off your first Amazon purchase; thats how I ended up getting a new laptop bag for 7 bucks

[floriflee]

I have an Amazon/Chase card. They've been good to me. 0% APR for 6 months (took advantage of that to buy expensive things I wanted a couple weeks before payday :D) and as mentioned before, after you spend so much money, you get a $25 Amazon gift certificate. Plus, as long as you apply through Amazon and get approved, you get $30 off your first Amazon purchase; thats how I ended up getting a new laptop bag for 7 bucks

Don't use Chase if you think you'll ever have to deal with their customer service. The hubby has the Chase One Pass Continental card (gets Continental miles on it). He's had a battle with it every step of the way trying to get the perks the card offers, including getting the bonus miles, the companion travel ticket, and getting his free passes to the Executive lounge. Each one has taken him several phone calls, at least six months, and threats of cancelling the card to get.

I financed my car through Chase, and the whole experience of trying to get my title made me swear them off forever. It took over a month AFTER I paid off the loan and a dozen angry phone calls every day to get it. What part of "You have my money. I need it tomorrow to get it to my buyer" did they not understand?? When I asked to talk to someone in their titling department directly I was given the point blank answer that the people in their titling department don't have phones. What?!?! I'm sorry, but I'm bitter with Chase. I will NEVER use ANY of their services EVER AGAIN, if I can help it. Save yourself the potential trouble of having to deal with them. They have the WORST service EVER (and I do tech support for a living so I have an idea of how it should work)!

[yg17]

Don't use Chase if you think you'll ever have to deal with their customer service. The hubby has the Chase One Pass Continental card (gets Continental miles on it). He's had a battle with it every step of the way trying to get the perks the card offers, including getting the bonus miles, the companion travel ticket, and getting his free passes to the Executive lounge. Each one has taken him several phone calls, at least six months, and threats of cancelling the card to get.

I financed my car through Chase, and the whole experience of trying to get my title made me swear them off forever. It took over a month AFTER I paid off the loan and a dozen angry phone calls every day to get it. What part of "You have my money. I need it tomorrow to get it to my buyer" did they not understand?? When I asked to talk to someone in their titling department directly I was given the point blank answer that the people in their titling department don't have phones. What?!?! I'm sorry, but I'm bitter with Chase. I will NEVER use ANY of their services EVER AGAIN, if I can help it. Save yourself the potential trouble of having to deal with them. They have the WORST service EVER (and I do tech support for a living so I have an idea of how it should work)!

Well, thats something for my family to look forward to in a few years as we have 2 cars financed through chase :(

[floriflee]

Well, thats something for my family to look forward to in a few years as we have 2 cars financed through chase :(

It may not be so bad for you (hopefully). I was in a bit of a rush at the time because I was selling to my car and the buyer was without a car of his own. They were just very hard to work with as they were very resistant to helping me out (even after explaining my situation) unless I REALLY pushed them and yelled at them.

If you don't need the title right away then it may not be that big of a deal. Just be warned that if you do pay it off early you check into how the different payment methods are processed with Chase. They take anywhere from 5-9 business days depending on whether or not the payment could be certified (I'd recommend wiring the money to them, if you can). Tack onto that time mailing time and possibly extra DMV processing time (depending on how the DMV processes lien releases in your area). Also, I learned that the reps you talk to are not trustworthy. I got so many conflicting answers from so many different reps it's not funny. Definitely speak to a manager if you need to get important information.

In the end, I ended up wiring the money to them, calling them every day, and then BEGGING them to find some way to talk to the Titling department so they could do an emergency electronic lien release with the VA DMV. Luckily, I had a good buyer who was VERY patient through the whole process (poor soul).

[Chip NoVaMac]

I financed my car through Chase, and the whole experience of trying to get my title made me swear them off forever. It took over a month AFTER I paid off the loan and a dozen angry phone calls every day to get it. What part of "You have my money. I need it tomorrow to get it to my buyer" did they not understand?? When I asked to talk to someone in their titling department directly I was given the point blank answer that the people in their titling department don't have phones. What?!?! I'm sorry, but I'm bitter with Chase. I will NEVER use ANY of their services EVER AGAIN, if I can help it. Save yourself the potential trouble of having to deal with them. They have the WORST service EVER (and I do tech support for a living so I have an idea of how it should work)!

I hope that I don't have these issues. My Subaru Baja was financed by Subaru through Chase. I did have an issue with them about online access and payments at the beginning of the loan. Poorly worded legalese should have given me the ability to do it. But it required getting a bank or credit account with them.

I'll repeat my warning about credit card offers. Check to see if the use the average daily balance method, or the "double balance" method. The double will cost you more in the end if you carry high balances.

[maya]

I honestly only use my Credit Card to delay my payments for a month and get points or rewards for that month. I always have the cash on hand when I buy something so why not reap the benefits along the way. ;) :D

And I only have Platinum in my pocket, no annual fee either. ;)

[Chip NoVaMac]

As to ATM/Debit VISA/MC cards. Depending on the "banking relationship" you have it can save you money if you travel overseas. I just checked my account status. I was charged only $1.77US per a GBP. Pretty good IMO.

[nbs2]

I hope that I don't have these issues. My Subaru Baja was financed by Subaru through Chase. I did have an issue with them about online access and payments at the beginning of the loan. Poorly worded legalese should have given me the ability to do it.
Subaru through Chase? That's what we (floriflee and I) had in the nightmare she talked about. But, maybe things will be different for you....

And, I would suggest never getting a card through Chase. I have one, and I only keep it because my miles are locked in to Continental. If I can find a nice card (maybe an Amex or something) that will help me keep accruing miles, I think I'll do it. Until then, I speak to you as one who is trapped and warning all others away.