Both of us have Capital One cards and haven't had any complaints so far.
Way back before my bankrupcy I loved my Discover card, and it was great that they had the cash back option too.
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Credit Card (RANT)
- Thread starter babyharley
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- #22
Really? You can overpay on yours? I wonder why I can't on mine? What card do you use?Originally Posted by pushylady
That's bizarre! I had no idea they could do that, and don't understand why. They're basically stealing your money!
I've overpaid a few times on credit cards and it just comes up on the next bill as a credit. When we went on vacation, we deliberately overpaid a few hundred dollars on our credit card so we'd have it as an emergency fund.
What is this bank up to? I think it's time to switch cards.
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I like my captiol one card ... they just raised my limit and My Mom just got one tooOriginally Posted by valanhb
Both of us have Capital One cards and haven't had any complaints so far.Way back before my bankrupcy I loved my Discover card, and it was great that they had the cash back option too.
- Thread Starter Thread Starter
- #24
How do you apply for one?Originally Posted by valanhb
Both of us have Capital One cards and haven't had any complaints so far.Way back before my bankrupcy I loved my Discover card, and it was great that they had the cash back option too.
I remember talking to someone awhile ago saying that they had a card (I dont remember what one it was tho) But they got coupons back for all different kinds of stores, when they spend a certain amount.
I want something like that! This card just has NO benefits for me!
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www.capitolone.com this one I would wait for an offer , there good my card has 0% intrest ( too bad I aint keeping a balence)... you can only over pay 10% of your limit on this one..
www.discovercard.com
www.discovercard.com
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- #26
Thanks so much for this information. I get A LOT of c/card offers in the mail, maybe I'll have to start looking @ them a little closer!
Is it okay to have more than 1 major credit card? I don't want to have too many open and get in over my head!
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That depends on you... My thinking is one that is used and one that is hidden till needed ( vet bills dr bills moving expenses)
You can have several cards, but something to remember, it will show up as revolving credit on your credit report and may be a negative factor.
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- #29
I have 1 major credit card - and then a Victorias Secret, Best Buy and Slumberland one - I just get soooo weary about credit cards and my credit and all that stuff.... how come all this stuff has to be sooo confusing?!
There are probably a few reasons they're holding your card.
1) by paying off your balance, they can't charge you intrest and make money off of you any longer. They don't like that so many companies will have ways of penalizing you for this.
2) as of a few weeks ago, the federal gov. can place a hold on any and all accounts that suddenly have a large a payoff. The theory is, people in debt usually stay in debt. If suddenly they're paying their debts off, they must have gotten money from somewhere, maybe by helping terrorist out. So they can freeze your accounts while they check it out. I'll have to ask my bf for the link to the article he read about it.
It does sound like your cc company is just worried that you don't actually have the money there and are trying to scam them though. Personally, I would use this event as leverage. Tell them you're very unhappy and have been talking to several companies, thinking about switching. Use this to try to get your apr lowered or your credit limit increased (if you want that).
I have a Capital One card and a mastercard. I'm happy with both (or at least as happy as I can be with them maxed out!)
I hope they resolve the issue for you soon!
Julia
1) by paying off your balance, they can't charge you intrest and make money off of you any longer. They don't like that so many companies will have ways of penalizing you for this.
2) as of a few weeks ago, the federal gov. can place a hold on any and all accounts that suddenly have a large a payoff. The theory is, people in debt usually stay in debt. If suddenly they're paying their debts off, they must have gotten money from somewhere, maybe by helping terrorist out. So they can freeze your accounts while they check it out. I'll have to ask my bf for the link to the article he read about it.
It does sound like your cc company is just worried that you don't actually have the money there and are trying to scam them though. Personally, I would use this event as leverage. Tell them you're very unhappy and have been talking to several companies, thinking about switching. Use this to try to get your apr lowered or your credit limit increased (if you want that).
I have a Capital One card and a mastercard. I'm happy with both (or at least as happy as I can be with them maxed out!)
I hope they resolve the issue for you soon!
Julia
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- #31
I just think its complete crap that they can do this.
Its the time of the year when people get their tax refunds back - of course I'm gonna pay off my debts!!
I am VERY unhappy, I don't plan to have my card that close to being maxed out again - EVER!! This has been such a huge pain, and when I told them that I was unhappy, they didn't even say anything to me - I even asked to speak to a supervisor, but they told me that there was nothing they could do for me either.
Seriously - I hate when companies treat their customers like this!
I pay my bill regularly, on time, they should treat me good, since I have an account with them!!
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I pay mine off in full every month and this month overpaid by about double.
Def. leave your account open. I never even activated two of my credit cards, just cut them up and threw them away, and they have boosted my credit score so much!
The name on the card (Visa, Mastercard, Discover, AmEx, etc) doesn't actually matter that much. For instance, my card is one of these, but through my bank, so it has its own rules and such, like if my bank account overdrafts they charge it to my card and I don't have to pay all those silly fees. Find one with good benefits, like I get rental car collision insurance, discounts on concert tickets, etc. It's okay to be a little fish-- I don't even make enough money to pay taxes, but they still give me a good card. It's all about paying your electric bill on time!
Def. leave your account open. I never even activated two of my credit cards, just cut them up and threw them away, and they have boosted my credit score so much!
The name on the card (Visa, Mastercard, Discover, AmEx, etc) doesn't actually matter that much. For instance, my card is one of these, but through my bank, so it has its own rules and such, like if my bank account overdrafts they charge it to my card and I don't have to pay all those silly fees. Find one with good benefits, like I get rental car collision insurance, discounts on concert tickets, etc. It's okay to be a little fish-- I don't even make enough money to pay taxes, but they still give me a good card. It's all about paying your electric bill on time!
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- #33
And they don't penalize you for overpaying!?
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No... I'm pretty confused actually as to why yours would. That would be the end of my relationship with whatever company your card is through, and I'd tell them too.
Here's what my contract says: "You may pay the entire amount you owe us at any time. Payments made in any billing cycle which are greater than the total minimum payment due will not affect your obligation to make the next Total Minimum Payment Due. If you overpay or if there is a credit balance on your account, we will not pay interest on such amounts...We reserve the right to reject any payment if your account has a credit balance as of the day we receive the payment"
However, if they close your account you have to cut up the cards immediately. And they can do so whenever they feel like it. Mostly because the account is at-will for both of you-- you can close it anytime you want and so can they.
Here's what my contract says: "You may pay the entire amount you owe us at any time. Payments made in any billing cycle which are greater than the total minimum payment due will not affect your obligation to make the next Total Minimum Payment Due. If you overpay or if there is a credit balance on your account, we will not pay interest on such amounts...We reserve the right to reject any payment if your account has a credit balance as of the day we receive the payment"
However, if they close your account you have to cut up the cards immediately. And they can do so whenever they feel like it. Mostly because the account is at-will for both of you-- you can close it anytime you want and so can they.
This is so true. I've been looking at what I can do to improve my credit to help with buying a house, and they actually say DON'T close your accounts. You want to prove that you can handle your money well. However, you do need to keep all your accounts at 35% or less of your credit limit.
I'm having a hard time though because for me, if the cards there, then maybe I'll need to use it! So I have one that when I pay it off I may close it anyway because it's just too big a temptation for me.
And it's sad, but the way credit card companies make money, is from the intrest they charge you and any fees they can charge you as well. Ultimately, they don't have your best intrests at heart.
~Julia
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- #36
I just don't understand why they penalize me for overpaying, do you think I should call and ask someone?
I've called there about 4 times today
What a pain!
Keep calling back until you get the answers you want and need. They are there for the customer. YOu pay there paychecks and they are there to serve you. Just remember that.
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- #38
They sure don't seem to think so! This is why I hate dealing with big cooperations, they just DONT care!
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They don't care unless you make them care.
One tip: Never let anyone call you back. If someone tells you their manager is busy, tell them you'll hold or you want to speak to their manager's supervisor.
Tell them that you will make sure to never use their company again, not even in the future when you could be a big spender. And that you will relate the story of how you've been treated badly and unfairly to everyone you know. Annoy them to death until you get the answer you want, and an apology.
I hardly ever get mad at a company, but when I do they better watch out. I'm not the sort of person who complains at restaurants, complains about being on hold, or honest mistakes (like getting the wrong color or something form a catalog, if they'll fix it). I save it all up for when someone really really messes up and refuses to apologize. Then they're never hearing the end of it.
Tell them what you want very clearly-- and what you want is reasonable-- be polite, and don't stop until you get it. You may not be able to keep them from closing your account, but you can sure get some answers. You deserve them.
One tip: Never let anyone call you back. If someone tells you their manager is busy, tell them you'll hold or you want to speak to their manager's supervisor.
Tell them that you will make sure to never use their company again, not even in the future when you could be a big spender. And that you will relate the story of how you've been treated badly and unfairly to everyone you know. Annoy them to death until you get the answer you want, and an apology.
I hardly ever get mad at a company, but when I do they better watch out. I'm not the sort of person who complains at restaurants, complains about being on hold, or honest mistakes (like getting the wrong color or something form a catalog, if they'll fix it). I save it all up for when someone really really messes up and refuses to apologize. Then they're never hearing the end of it.
Tell them what you want very clearly-- and what you want is reasonable-- be polite, and don't stop until you get it. You may not be able to keep them from closing your account, but you can sure get some answers. You deserve them.
