Credit Card Survey...who do like/dislike
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| Thu, 01-20-2005 - 9:36pm |
I have a Bank of America and an MBNA with a balance and a CITICard (which i just paid off this month, and a MBNA that I paid off 4 months ago)
I am looking to transfer the BA and current MBNA card to new cards with 0% interest for 12 months...I am considering Chase, Capital One, Bank One and Providian.
Any good/bad experiences with these companies:Chase, Capital One, Bank One and Providian?
I am so scared of the "fine print" on these offers. I am reading it...and just don't want to miss anything....have any of you been "tricked" by these companies?
I know you can't miss a payment, or your introductory offer is out the window. Also, you need to know how the minimum payment is calculated. And if there is a transfer fee, and a yearly membership fee. What else should I be comparing?
Any past experiences good/bad????...would be great if you would share with me. PLEASE
THANKS :)


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We have had good luck with the Chase 0% balance transfer offer, which we took advantage of about 8 months ago. At one point, they upped our interest rate (to 9%, I believe) and charged us a late payment fee, but it turned out that due to a mistake on my part with my online bill payment through my bank, it had been paid two days late. But Chase waived the fee and returned the rate to 0% without a fuss. And now I have it pay automatically each month so I can't make the same mistake.
I have had bad experiences with MBNA, Providian, Citi (which bought out Fleet, I think? Anyway, we ended up with them because of a buy-out, and hated them), and probably others. All of the ccs will get predatory if they think they might lose their money. And they all practice questionable practices, like calling something a "fixed" rate when it isn't really.
Also, do not take the bait when the card you have transferred to offers to "extend" your 0% offer if you make a purchase. What happens is, the purchase is charged interest, and all of your payments on that account go toward the 0% balance until it is completely paid off, so meanwhile that "little" purchase you made to extend your offer is racking up interest every month, and you can't touch it until you've paid everything else off entirely. As far as I know, ALL of the ccs do this.
Good luck.
Heather
As though you needed more testimony against these two companies, DH and I have had bad experiences with both Providian and Capital One. Both raised our rates astronomically, and Capital One closed DH's account because he'd been late twice in six months. (Just closed it, but didn't charge it off.) Both also provided HORRIBLE customer service. This was several years ago, but it may still apply.
I must admit my own bias, though, because I am of the opinion that the only good credit card is one that is closed, paid off and cut up! LOL
Elizabeth
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