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What credit card provider should I go with?

I’ve been a faithful Capital One borrower for two years now, but that’s all I’ve tested out. I think I might try to eliminate a few low limit credit cards and get one single card with a higher limit. I just wanted to know if you had any amazing or terrible experiences with a certain credit company so I can potentially step out of my comfort zone.

Thanks in advance.

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Answer #1

I started out with a low limit Providian Visa in like 2003 or something when I was like 20. I really liked it, decent interest rates, no annual fee, all that good stuff. Then a few years ago, Providian sold out to WaMu (Washington Mutual) and that was ok, but recently WaMu sold out to Chase and I hate it. I’ve had nothing but bullshit problems with them since they took over. I had a big issue with them several months back when I sent them payment in the form of a personal check, like always, and the check somehow reached them in an unacceptable form, ie the check got ripped in the mail and the bottom where the serial numbers of my checking account are was torn off, so they couldn’t accept that check as payment and had to send it back. So, needless to say, by the time I received the returned check and the letter explaining the problem, my new payment was late resulting in late fees and increased interest rates for what I believed to be no fault of my own. I’m not sure if Chase handled the problem as any credit card issuer would have, but I was pissed and called them and sent letters saying I was refusing to pay the late fees and wanted my previous interests rates reinstated. Didn’t work. So, I hate Chase. Don’t get a Chase card. lol :)

Answer #2

Yes I did. Since I’m 20, I’m doing my best to build my credit in as many ways as I can. Thus I make purchases on a credit card and then immediately pay off the balance so that I don’t accumulate much debt. The credit shows up, but the massive bills don’t. I have a few cars I’m financing and whatnot as well, but it is all a means of building my credit score :)

Answer #3

Try to stay away from GE Finance. Their annual credit card fee is a rip off and there are so many hidden cost charges on almost everything,. A simple statement cost the card owner $2.50 every time a statement is sent out or they charge you a fee for making payments on your card are just two examples. GE Finance’s credit card per annual interest rate is higher then any banks or independent financial institutes.

GE is not picky when it comes to who they authorise as suitable credit card customers. They love issuing credit card to young people like us, as they know we are suckers and don’t know much about finances and have no issues hitting card holders with massive late repayment fees and on top of the interest they charge you from the day you made the purchase, eg: 30 days, 50 days etc.

Answer #4

Has Capital One done anything to earn your business? Most banks have no loyalty to their customers so don’t worry about being faithful to any bank.

Often credit cards from Credit Unions or small local banks have better terms than national banks.

Naturally, with the economy like it this is a terrible time to carry much unsecured debt. But I’m sure you knew that already.

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