Credit Card?

[Jacklynn]

Matt and I are looking to get a different credit card (the interest on the one we have now is too high --- Matt got it and didn't really research it)

Do any of you use a great credit card and suggest it?
We are looking for a decent interest rate, 0%apr for at least 6 months also on balance transfers... we want to transfer our other card to another one (serious the interest on the card he has now its awful), rewards would be nice, but not needed. We perfer Visa... No annual fee

hehe wow we are pretty picky we've seen most of these have these, except they usually don't have a great interest rate sadly... but do any of you have one to suggest?

[bradysmommy2007]

washington mutal is pretty nice...good rates for me...they have your credit score posted for you everytime you get on your online account..they offered me 14.9 % when i just turned 18 which is not bad for somone who doesnt have any credit at all...few other rewards im just not too into that...

[bradysmommy2007]

oh yea..no annual fee and i think i had over a year no interest

[Jacklynn]

I guess I should say what decent interest rate would be for us. We have decent credit (like we have nothing that would dock us, we have always paid on time and stuff) but we are still starting out (we are 20 and 22) so we don't have a lot of credit built up yet. So sadly I'm sure we can't qualify for the 8% that I have seen. I'm looking for something 14% or so Matt's is 17% right now. We may only be able to get 15, but 14 would be nice... or less ;)

[Jacklynn]

washington mutal is pretty nice...good rates for me...they have your credit score posted for you everytime you get on your online account..they offered me 14.9 % when i just turned 18 which is not bad for somone who doesnt have any credit at all...few other rewards im just not too into that...


Thanks I'll look into that!

[bradysmommy2007]

im only 21 and all i have been paying on is small credit cards and a car note and i have offers all the time for 8.99...my step day said that if i called and said i wanted to cancel they (washington mutual) would most likely match the 8.99 just have no time right now but im sure if you call and talk with someone they may be able to get you a better rate...they are alllllwwwayyys trying to get new customers :) i may be wrong but its worth a shot :) good luck :)

[bradysmommy2007]

sorry to KEEP posting...but that may have sounded like i was showing off like wow i get offers for 8.99 all the time...i wasnt i promise! lol just wanting you to know that maybe they will work with you and not look at your age so much :)

[domeafavor]

I would have to say the Chase Freedom card (Visa card) its more of a rewards card than anything else. You get 3% back on wherever you spend the most money every month in 15 specific categories. I know Capital One has low interest rates on their card. Neither has annual fees.

http://www.chasefreedomnow.com/home/?CELL=6QKM

If you don't mind me asking what is your current card?

[Jacklynn]

Our current is a Citi Bank Visa Platinum Select, I also have a 1st Financial Visa, but I don't use that that much, It is a student card is it a visa and has 0% interest as long as i dont put over $200 on it, but the second you go over $200, it is 22% interest, so we only use that for little things and then work on paying that off when we can since there is no interest if it is under 200.

We are also looking for a new one because the one we have no is just under Matt's name and we figure we will just get a new one with a better interest than put my name on it.

[domeafavor]

Have you tried calling the company sometimes they can lower your interest rate if you ask just say you got a better offer in the mail.

[lizardbnorton]

Robert has a website that he looks at that has all sorts of companies listed. I e-mailed him to get it and I will post it here once it comes in.

I wouldn't recommend Capital One if you are looking to improve your credit. They don't send your information to the credit bureau so the payments and stuff don't get looked at when calculating your card. They are not usually recommended for someone trying to build credit.

[WendyNC]

I second the opinion of calling the current company. Just call and say - do you have any special offers or other cards available - what they might do is technically give you a new card that is under a different program. Then you can avoid transfer fees.

Or you can call and say - what steps do I take to close the account - and they will come up with an offer.

If you can join a credit union, I would advise that. SOMETIMES they will have credit cards that do not have transfer fees, etc.

[Jacklynn]

Have you tried calling the company sometimes they can lower your interest rate if you ask just say you got a better offer in the mail.

yeah we actually just did that, but they only lowered it from 18 to 17

So we are trying to find something lower

We may try the idea of calling them and telling them we are going to close the account, but wait, if we close the account do we have to pay it off first? We can't pay it all off right now.

[lizardbnorton]

Here is the link Robert gave me.

Check it out, it might help
http://www.creditcardstrategy.com/index.php

[domeafavor]

If you close the account you would have to pay it all off now.

[firespirit]

I think you actually pay them off under existing terms (but I'm not sure if that's the case if it's completely voluntary closing of an account). I do know that when then have sent us a change in terms we have had the right to refuse the new terms and pay off any remaining balance under the current terms.

Either way, you aren't going to have a lot of leverage with such a short credit history and having a balance on the card.

Plus canceling the card would hurt your credit score, it would raise your debt ratio.

[TangoWedding]

Citi would have been my recommendation...IMO, they're the best. Whatever you do, stay away from Capital One and Providian. Very bad companies.

And lizardbnorton was mostly right about Cap1 - they report your account, payments and balance, but don't report a credit limit at all...so it will ALWAYS look like you're over your limit on their card. They've done it this way for years. It's bad for your credit to even have them on your report that way.

If you have good credit and a good history with Citi, they should give you a better deal than lowering it one percent. Call again and ask to speak to the retention department. That's who they send people who are threatening to cancel their card. Tell them you've had a perfect history with them (assuming you have, of course) and you can find better deals elsewhere if they won't offer you a better gig.

Along with that, I also highly suggest a credit union. They're usually pretty darn good to their customers.

[Jacklynn]

I know this is kind of a lot of information to give you guys, but my credit score is 747, (the range is 330-830 somewhere around that anyways, I don't know the exact numbers, just in case you don't know). It apparently falls under the excellent section, so I am hoping for a good interest rate, that is my main thing. Don't feel like you have to share any personal info at all, but is there anyone who has a score close to mine that has a good interest rate?

[TangoWedding]

With a 747, you should easily be able to get the lowest of interest rates from any company. ANY company.

Anything over about 680 is excellent. If you're over 720, you should have no problem.

Where did you get the 747 number? Was it a FICO score or a score you purchased from one of the credit bureaus directly? Because the only "real" score they use is the FICO. (Which you can get at www.myfico.com)

[TangoWedding]

Actually, I just looked back....you said you were just starting out building credit. There's not much chance you really have a 747 credit score. Most of an actual credit score is having good credit for a long period of time.

I'm curious who gave you that number.

[L.J.Aguirre]

Matt and I are looking to get a different credit card (the interest on the one we have now is too high --- Matt got it and didn't really research it)

Do any of you use a great credit card and suggest it?
We are looking for a decent interest rate, 0%apr for at least 6 months also on balance transfers... we want to transfer our other card to another one (serious the interest on the card he has now its awful), rewards would be nice, but not needed. We perfer Visa... No annual fee

hehe wow we are pretty picky we've seen most of these have these, except they usually don't have a great interest rate sadly... but do any of you have one to suggest?

i used to have a ton of bills till i got my amex card. i transferred all my balances and it was 3.99 for the life of the balance transfers plus i get miles. i'm really just using it to pay off my 3k and then bounce or maybe i'll use it for gas after it's paid but yeah... i love my card over all.

[Jacklynn]

Actually, I just looked back....you said you were just starting out building credit. There's not much chance you really have a 747 credit score. Most of an actual credit score is having good credit for a long period of time.

I'm curious who gave you that number.

Well I have had a credit card for several years now, like since they would give me one, and I have never once been late....

Also... I have student loans that were only in my name, and they are all from the same company, which is one of the reasons given for a positive thing for my score. Also I have been with the same credit card company the whole time and have never closed an account.

I just checked it with the website you gave me to see if it gave me a different score and it gave the some one.

[ChibiAiChan]

we use american express for everything~

[EarlyBird]

i know wamu lowered my interest rate 3 times in one year when i called and asked.

[EarlyBird]

but i also have to mention that my american express blue is awesome- no annual fee and also very very helpful- points are sooo helpful!

[L.J.Aguirre]

i work for wamu..... but i'm a newbie but when i go back to work i can ask about the rates.... i know.. i'm a bad wamulian but i'm still learning:notsure:

[Jacklynn]

Thanks girls for all of your help, I hope to reach a decision as to what card to apply for sometime in the next few days :) Thanks!

[bradysmommy2007]

Well I have had a credit card for several years now, like since they would give me one, and I have never once been late....

Also... I have student loans that were only in my name, and they are all from the same company, which is one of the reasons given for a positive thing for my score. Also I have been with the same credit card company the whole time and have never closed an account.

I just checked it with the website you gave me to see if it gave me a different score and it gave the some one.


i have the wamu (washington mutual card) and like i said you can get your credit score when you log in and i have only had credit for maybe a year and mine is (dont want to just throw it our there but) above 750...so i think it just depends on if you pay more than the minimum and on time,..things like that...

[sjk1431]

I work in a retail store and the card I see used the most is american express. I have one and I love it. Good Luck card shopping and you have a great credit score :whoohoo:

[TangoWedding]

Interesting. Well, since FICO gave you the same score, I'd bend over and tell Citi to kiss your butt since they have you at a 17%. You should be WAAAAAAAAAY below that with such a score.

If you carry a monthly balance, that's a HUGE rip-off. Transfer that balance right away if they won't play nice!

[firespirit]

Interesting. Well, since FICO gave you the same score, I'd bend over and tell Citi to kiss your butt since they have you at a 17%. You should be WAAAAAAAAAY below that with such a score.

If you carry a monthly balance, that's a HUGE rip-off. Transfer that balance right away if they won't play nice!


Citibank puts more stock in length of credit history than the number (from what I've seen dealing with them). Plus if you're carrying the balance on that card, what incentive do they have to make less money? They've never lowered my APR, but they have given me huge credit limit increases. (I only carry a balance on the card when it's a deal like 3.9% until paid)


As a side note, transferring the balance to a 14% card isn't going to be worth it, since there will be a 3% transfer fee, so you're still paying 17% anyway, you want to go lower or only do that with a card that has a max transfer fee that comes out to less or waives the transfer fee,

[TangoWedding]

Yes, yes, yes....definitely ask for no transfer fee with whoever you choose. Most companies will jump at the chance with a score like yours.

[heatherh321]

I have a Discover and they have great rates AND wonderful customer service. I would definitely recommend them as well. You may want to check their website for offers, they are always sending me stuff about balance transfers, etc, its usually 0%.

[RevMatty]

washington mutal is pretty nice...good rates for me...they have your credit score posted for you everytime you get on your online account..they offered me 14.9 % when i just turned 18 which is not bad for somone who doesnt have any credit at all...few other rewards im just not too into that...
WAMU, maybe a great credit card, but never get a loan for a mortgage through them.