credit union. first. they usually have better interest rates then other places.
orchard bank master card is easy to get
citi bank and capital one are alright. but usually have higher minimum payments
chase is good--we have the freedom card- for rewards
( from my experience- we only did no fee cards, orchards was easy to get and close once paid off,capital one does what the previous posters said. making it a bitch to close when we thought we paid the final balance off and the next month they sent out another bill claiming interest and shit)
Capital One is horrid for us. They have all sorts of crazy fees on DH's card and we've had to get them to fix things many times. I've never had a problem with Chase, but my favorite one is our bank USAA. Good service .
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Van...full-time student mommy of Booger (Sept 03) and Chunky Monkey (June 07) My Blog
(i am posting again!)
There are good issuers, and since the main part of my job is creating/revising credit card applications and disclosures, I can assure you that we cannot just change rates, etc... Credit card issuers are regulated by the federal government, and to change rates, other than those related to changes in the Index Rate (on variable rate cards) or due to customer default, involves months and months of planning, project meetings and implementation testing (at least where I work). There are specific rules about how far in advance customers have to be made aware of changes, as well as their ability to "opt-out" of them.
If an issuer fails to comply with these regulations, there are severe penalties.
With some banks, CU's, etc... it is easier to get approved if you already have a relationship with them, and sometimes results in lower rates, too.
I am sure you do a wonderful job, and I am sure there may be some good companies out there that deal fairly with people. I am also aware that many people who get in trouble with credit cards use them unwisely and end up in way over their heads.
I assure you though, that there ARE companies who DO change rates without notification and with little or no valid reasons, change limits without notification or reasonable reasons, and DO hold payments to incur late charges. I also assure you that there are some if not many companies who make a ton of money using unsavory practices that are basically traps. I have seen and read and heard of that happening way too many times and experienced it myself to believe it isn't a common practice. I am not saying you are misrepresenting what you yourself do, but you cannot know what all companies do just as I don't, and while they may theoretically be regulated just as physicians are, those rules are broken often just as imcompetent and/or dangerous physicians often stay in practice harming more people.
I have read plenty of fine print and I have seen what you wrote just now, but the reality is that the rules can be bent and broken and the average person doesn't have the resources to fight that or even be aware of what is done sometimes until s/he is totally messed up financially.
Anyway, I know your knowledge and perspective of this issue is way different than mine, and I am relieved to know there are people out there who are following the rules. Thanks for your input, and although I still would not choose to have a card until the laws are changed to make companies more accountable for their practices, I appreciate what you said and thank you.
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As the saying goes, when a door slams shut in one place a window opens somewhere else. After staring at the door for many years, it finally occured to me to go look for the open window. I discovered I like sunlight and warmth much more than peeling old doors anyway, so I climbed out the window and reveled in my discovery. I will never sit behind a closed door again, no matter how comfortable my chair becomes. Me
Mel, I'm glad you found your own open window and stepped through it.
Navy Fed is my first choice and USAA runs a close second!
Quote:
Originally Posted by Vanarcho
Capital One is horrid for us. They have all sorts of crazy fees on DH's card and we've had to get them to fix things many times. I've never had a problem with Chase, but my favorite one is our bank USAA. Good service .
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It's a "rebuilding year". Just like the last oh, 13 years.
3-7: Looks like a typical season so far
Please know that even if I don't post it, each and every one of you are in my thoughts in good times and in bad.
I know with the one we offer, after 12 mos. of on-time payments, staying under your credit limit, etc... they return the collateral and graduate you to a regular, unsecured card.
I have a citibank card that has a limit of $500 on it. I got it when we signed up for the UPromise thing to put money away for Kyan for college eventhough we never officially did it. They issued me a credit card and when I called to have them take me off the mailing list the guy told me that if I wanted to establish credit and it was only an emergency use one to go with their $500 limit card and just use it to pay for groceries or something every so often. I have it and I hooked it up to the online bill pay so every month I pay most of it off online and it's raised my credit score since I just didn't really have any credit since I didn't take out any loans or have other credit cards or anything.
We have a credit union, so even if we have a little bit deposited there, they'd be able to get us a CC?
it doesn't matter how much you have in your account definitely try the CU first. the cards we have with our CU are managed more like a loan than a card. they even give you 15 days to pay w/ no penalty after the due date (like a mortgage). the rates are usually a LOT lower, too
you don't want an annual fee if you can avoid it. and you want as many perks as you can get for free (rewards points and such). check not only the introductory interest rate, but the normal one (after the introductory period). also, look for what the default rate is. if you miss your payment ONE time they will start charging you the default rate and it is quite often over 20% i know this the hard way
we have WAY TOO MUCH credit card debt and i wish we could get a handle on it, but with money as tight as it is, we end up relying on them when the checking acct runs out at the end of a pay period if i could pay them all off it'd free up SO much money that we wouldn't have that problem, but it's not like someone's just gonna hand me a whopping $15 grand and be like "here, go pay some bills"
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wife to Joe
SAHM to Devonne Natalia and Alanna Irene, born 8/10/06
we have WAY TOO MUCH credit card debt and i wish we could get a handle on it, but with money as tight as it is, we end up relying on them when the checking acct runs out at the end of a pay period if i could pay them all off it'd free up SO much money that we wouldn't have that problem, but it's not like someone's just gonna hand me a whopping $15 grand and be like "here, go pay some bills"
That's exactly where we are at. With car loans and CC debt, if they were paid off we would be perfectly fine moneywise.
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Van...full-time student mommy of Booger (Sept 03) and Chunky Monkey (June 07) My Blog
(i am posting again!)
.
of Booger 
(Sept 03) and Chunky Monkey 
(June 07)
definitely try the CU first. the cards we have with our CU are managed more like a loan than a card. they even give you 15 days to pay w/ no penalty after the due date (like a mortgage). the rates are usually a LOT lower, too 
i know this the hard way 
Navy Federal is what we have and they're AMAZING 
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