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BRUTAL64
04-08-2008, 05:23 PM
Capital ONE is offering me a Platinum MasterCard with a VARIABLE 9.9% APR.

Is this good? I have a Visa-Wells Fargo that is 5.6.

I've just started using Credit Cards after 25+ years of not using them. I hope one of you guys can help me here. I want to get one more card and want to be sure I get a fair deal.


Thanks

mrvette
04-08-2008, 06:29 PM
Capital ONE is offering me a Platinum MasterCard with a VARIABLE 9.9% APR.

Is this good? I have a Visa-Wells Fargo that is 5.6.

I've just started using Credit Cards after 25+ years of not using them. I hope one of you guys can help me here. I want to get one more card and want to be sure I get a fair deal.


Thanks

Cap one is assholes all the way, you let them into your wallett, and youwill feel like the pillaged village....

:smash::stirpot:

BRUTAL64
04-08-2008, 06:39 PM
Cap one is assholes all the way, you let them into your wallett, and youwill feel like the pillaged village....

:smash::stirpot:


Ok, I see you don't like Cap one. I want to have this as a second card. Credit reasons. Can you be more specifiic than "assholes" Thanks.


Is the APR rate a good one?:beer:

TimAT
04-08-2008, 08:43 PM
The variable rate will change with the Prime Interest rate. So don't count on the 9.9 rate for long. That's as low as it wll get, but they'll jump QUICK to raise the rate. And look at the user agreement very carefully- one day late on a payment and they can(and will) jump you to 24%.:gurney: And then it takes over a year to get it back down.

BRUTAL64
04-08-2008, 08:49 PM
The variable rate will change with the Prime Interest rate. So don't count on the 9.9 rate for long. That's as low as it wll get, but they'll jump QUICK to raise the rate. And look at the user agreement very carefully- one day late on a payment and they can(and will) jump you to 24%.:gurney: And then it takes over a year to get it back down.

The agreement does state if you're late twice, they will raise the rate. But, as a second card, do you think this at least usable?:sweat:

TimAT
04-08-2008, 09:14 PM
As a second card, yes it's usable. BUT, I'd go look at other options- I'm NOT a fan of Citibank, Capital One or any of the credit companies that spend bucks on TV ads. They make money on interest and then spend that interest to promote themselves.

Look around for a small credit union- there are lots of them around and they have better customer service. And more importantly, (and I really like this little feature) if there is a problem, you can go get your HANDS on someone. Not talk to the customer service department in raghead city, india.:banned:

crazyhorse
04-08-2008, 10:24 PM
Look around for a small credit union- there are lots of them around and they have better customer service. And more importantly, (and I really like this little feature) if there is a problem, you can go get your HANDS on someone. Not talk to the customer service department in raghead city, india.:banned:

Yep...credit union....

BTW: Ole thunder thighs sez if elected she will cap credit card interest at 30%....:shocking::shocking:

BRUTAL64
04-08-2008, 10:36 PM
As a second card, yes it's usable. BUT, I'd go look at other options- I'm NOT a fan of Citibank, Capital One or any of the credit companies that spend bucks on TV ads. They make money on interest and then spend that interest to promote themselves.

Look around for a small credit union- there are lots of them around and they have better customer service. And more importantly, (and I really like this little feature) if there is a problem, you can go get your HANDS on someone. Not talk to the customer service department in raghead city, india.:banned:

Here's the problem. For 25+ years I paid CASH for everything (yes I did). If I didn't have the money I saved till I did. Now, I have no credit history and can't get any cards till I do. Wells Fargo finally gave me a card (4 months ago). Now Cap ONE is trying to give me one and it will help my credit to have a second one. I did hit my Dads Credit Union --- but no credit history. :clobbered:

turtlevette
04-08-2008, 11:43 PM
i don't know if helps to get another card. Call your existing card with the better rate and see if they will bump your credit limit.

BRUTAL64
04-08-2008, 11:53 PM
i don't know if helps to get another card. Call your existing card with the better rate and see if they will bump your credit limit.

It's not money, it the credit history I need. The more "DIFFERENT" sources I have the better credit score. :bounce:

MYBAD79
04-09-2008, 12:18 AM
The stupid credit game.... I never cared about credit score as I have always paid for my stuff, never financed anything... well, when I wanted to buy a house I needed a better score: I simply accepted 6 or 7 cards that did not have a annual fee (or at least the first year was free)... don't forget to send the cards with fee back before the first 12 months are over....
Charge $50 to each card and make a $30 payment on each... like $10 more than the minimum required payment... charge another $30 to each card and then again pay $10 more than the minimum required... always pay before you even receive the statement.... this way you can get the score up the upper 700's within a year :bonkers::bonkers: (unless you have negative items on the report)

If you never owe more than $50 the interest rate doesn't really matter.... for me it was a nice entertaining game.... :beer:

SMYDA
04-09-2008, 12:33 AM
I would get one that you can build up AIR Miles (if you like to travel any),
And pay it off in full monthly.....by doing so your credit limit will go up quick,
and it won't matter what the APR is cause you'll never get charged any interest.
And your credit history will still look great.

Kind of like using it as a Debit card.

Example:
My wife will use it to buy grocerys and then I just pay it off.
We're accumulating Air Miles but not debt. :thumbs:

(Other than the house....I have no debt)........:beer:

MYBAD79
04-09-2008, 12:53 AM
I would get one that you can build up AIR Miles (if you like to travel any),
And pay it off in full monthly.....by doing so your credit limit will go up quick,
and it won't matter what the APR is cause you'll never get charged any interest.
And your credit history will still look great.

Kind of like using it as a Debit card.

Example:
My wife will use it to buy grocerys and then I just pay it off.
We're accumulating Air Miles but not debt. :thumbs:

(Other than the house....I have no debt)........:beer:

If you always pay it off they won't report to the credit report... I used to always have a balance in my CC account to avoid paying interest until they told me that won't do anything for my credit score... you MUST pay interest to improve the credit score... it's stupid but that's the way they want to play the game....

And you only get the airline or hotel credit cards if your credit is good....

SMYDA
04-09-2008, 01:22 AM
If you always pay it off they won't report to the credit report... I used to always have a balance in my CC account to avoid paying interest until they told me that won't do anything for my credit score... you MUST pay interest to improve the credit score... it's stupid but that's the way they want to play the game....

And you only get the airline or hotel credit cards if your credit is good....

Your probably Right about that..........My BAD...:suicide:

MYBAD79
04-09-2008, 01:35 AM
Your probably Right about that..........My BAD...:suicide:

unfortunately.......this system simply sux... if you work hard, safe money and pay for what you're buying you're getting punished .... if you finance all kind of crap and make monthly payments for your stuff and even if you can barely afford to make these payments your credit score is fine.... f'ed up to say the least....

DARROW 74
04-09-2008, 12:50 PM
PAY IT OFF EVERY MONTH AND DON,T WORRY ABOUT IT IF YOU WANT A LOAN GO GET ONE.

I use cap one for air miles and its been good to me.
But there is a yearly cost maybe 40 bucks.

BRUTAL64
04-09-2008, 03:38 PM
Hey, this is the information I need.
There is so much miss-information out there that I wasn't sure what is the best way to go. Believe it or not, I trust (most of it:D) the information given out here. :drink:

010752
04-12-2008, 02:31 AM
The credit game is now ruled by sofware developed by a company whose acronym is known a FICA. You will have not one credit score but three, one from each of the 3 major credit reporting bureaus. Your score will change monthly and it will take at least six months to establish a score.

If you have too few credit cards your score will go down. too many cards and it will go down, don't borrow enough money and it goes down, too much money for your income/debt ratio and it goes down.
any late payments, judgements or too many disputesd and it goes down.
Get the picture??? If you want really good credit you have to get all the info you can and play by the rules.

I had a credit card that I had since 1979, (I am the only person I know that has had the same card so long) never a late payment, no negatives. Went to use it a couple months ago and it was declined at the store. Called them when I got home and they said they canceled it because I hadn't used it in 6 months. Same woman asked if I wanted to apply for a new one, I said fuck no, I'll use one of my others. It showed on my credit report that it was cancelled because of lack of use.
Guess what, my score went down.:banghead:
So be carefull. Just use any high interest card as a debit card.

What you want is the largest amount of credit line with your income/debt ratio, without ANY late payments or judgements or disputes.
A mortgage is the best way to get a good score. A high credit equity line, being paid off regularily is good.

As far as credit cards go, just go to your local longtime bank, and they will probably give you one, fee free at a very decent rate. You must of at least had a bank account to cash a paycheck etc.
CC card comanies are tricky these days, they even change the due dates from month to month, so always pay it when you receive the bill. Never ever be late or even on the due date. Be early.

Here is a link to the rates theat differ with a different FICA score.
[Only registered and activated users can see links]

The recent mortgage crisis has cut the mortgages available to only people with excellent credit, and everyone follows suite. It affects your insurance rates, utilities deposits etc.

Google for FICA and get a good crossection of good advice.:D

BRUTAL64
04-12-2008, 05:25 PM
The credit game is now ruled by sofware developed by a company whose acronym is known a FICA. You will have not one credit score but three, one from each of the 3 major credit reporting bureaus. Your score will change monthly and it will take at least six months to establish a score.

If you have too few credit cards your score will go down. too many cards and it will go down, don't borrow enough money and it goes down, too much money for your income/debt ratio and it goes down.
any late payments, judgements or too many disputesd and it goes down.
Get the picture??? If you want really good credit you have to get all the info you can and play by the rules.

I had a credit card that I had since 1979, (I am the only person I know that has had the same card so long) never a late payment, no negatives. Went to use it a couple months ago and it was declined at the store. Called them when I got home and they said they canceled it because I hadn't used it in 6 months. Same woman asked if I wanted to apply for a new one, I said fuck no, I'll use one of my others. It showed on my credit report that it was cancelled because of lack of use.
Guess what, my score went down.:banghead:
So be carefull. Just use any high interest card as a debit card.

What you want is the largest amount of credit line with your income/debt ratio, without ANY late payments or judgements or disputes.
A mortgage is the best way to get a good score. A high credit equity line, being paid off regularily is good.

As far as credit cards go, just go to your local longtime bank, and they will probably give you one, fee free at a very decent rate. You must of at least had a bank account to cash a paycheck etc.
CC card comanies are tricky these days, they even change the due dates from month to month, so always pay it when you receive the bill. Never ever be late or even on the due date. Be early.

Here is a link to the rates theat differ with a different FICA score.
[Only registered and activated users can see links]

The recent mortgage crisis has cut the mortgages available to only people with excellent credit, and everyone follows suite. It affects your insurance rates, utilities deposits etc.

Google for FICA and get a good crossection of good advice.:D

Thank you. Very good information to know.:thumbs:

big2bird
04-14-2008, 02:53 AM
Join a credit union. There rates are the lowest. Just in case you REALLY need it sometime. S++++ happens. It's called life.:eek:

BRUTAL64
04-14-2008, 06:01 PM
Join a credit union. There rates are the lowest. Just in case you REALLY need it sometime. S++++ happens. It's called life.:eek:

Hey, I could just borrow money from you.:smash::sos::smash: