Got 2 offers in the mail, which should I choose?

For just about anything you want to get off your chest about credit cards.
17 posts
bernhardtra
Gold Member
Gold Member
 
Posts: 26
Joined: Sun Nov 06, 2011 9:18 am
Location: Jacksonville

Postby bernhardtra » Sun Nov 06, 2011 9:49 am

Read the small print, it might not be guaranteed for either! If you can get the CapOne card take it. After you get it ask again about getting the secured card deposit back. If they say no, pay the balance, ask again, if no, close the card. Also check out Household bank and see if qualify for a card from them, they do a soft pull to make the offer before they do a hard pull. Too many inquiries will affect you ability to get new cards, so don't apply too much. The green card is probably really a charge card that you have to pay in full each month, but it does have some benefits, you may not need the ones offered and the CapOne card benefits may be more usable for you.
EX 686 TU 690

Cap One $500 6/10 closed no CLI 7/12
Cap One $2000 9/10
Household $500 9/11
Merrick Bank $2800 10/07
Marathon $900 10/11
Bealls $950 10/11
Marathon Visa $2500 6/12 Yeah finally a good limit card!
Barclays Rewards MC $1500 8/12
Belks $800 8/12
Walmart $1000 8/12


newbiecredit
Gold Member
Gold Member
 
Posts: 45
Joined: Wed Oct 19, 2011 6:56 pm
Location: west covina

Postby newbiecredit » Sun Nov 06, 2011 10:48 am

it doesnt say... thats what i was wondering also. well there was this thing my the accounts page that says check spending limit... at first im went from 250... then everyday i went higher.. the highest i checked was 2000 and it says it was still approved. i never tried higher than that. i dunno how accurate that was is but i hope its true...

i was reading some forums here, i saw one person with a zync and he said in his welcome pack it said his 250 limit. but i dint get anything in my welcome pack

sticf
Centurion Member
Centurion Member
 
Posts: 132
Joined: Mon Jul 18, 2011 10:08 pm
Location: Houston

Postby sticf » Sun Nov 06, 2011 5:44 pm

If you have a Amex Green then you have a charge card and not a credit card. While they can function the same at the point of sale they are vastly different when it comes to limits and billing.

In general terms:
Charge Cards do not have "preset credit limits". The total is also usually due in total every month. Charge cards usually come with annual fees, but have no interest rates because you are not allowed to carry a balance.

Credit Cards are extensions of credit with limits. They charge interest on balances carried past a "grace period". You are also allowed to carry a balance from month to month.

Nbknxf2
 
Posts: 2
Joined: Sun Nov 06, 2011 7:41 pm
Website: http://www.creditapptracker.com
Location: Huntersville, NC

Postby Nbknxf2 » Sun Nov 06, 2011 7:55 pm

Go for the Cap 1 card. It will accepted at more locations. The AMEX green card is a charge card which requires the balance to be paid in full at the end of each month.

newbiecredit
Gold Member
Gold Member
 
Posts: 45
Joined: Wed Oct 19, 2011 6:56 pm
Location: west covina

Postby newbiecredit » Mon Nov 07, 2011 12:49 am

oh ok so for sure no limit? coz i saw one person in the forum saying his zync had a 250.. and isnt zync a charge card too? so i was expecting some kinda spending amount on the welcome kit i got. i got confused.. haha

sticf
Centurion Member
Centurion Member
 
Posts: 132
Joined: Mon Jul 18, 2011 10:08 pm
Location: Houston

Postby sticf » Mon Nov 07, 2011 5:34 am

"No preset limit" is not "no limit". I did see that about the Zync card in some other post. However, if I remember correctly they posted that the $250 "limit" was removed after they activated the card.

I am not 100% sure how the Zync works because it is newer. The Green is really the "grand old charge card" (cannot think of an older card that is still being issued). It has been around for many years and its workings are well documented.

In any case have a good time with your new card. I have always loved how Amex has treated me over the years.

newbiecredit
Gold Member
Gold Member
 
Posts: 45
Joined: Wed Oct 19, 2011 6:56 pm
Location: west covina

Postby newbiecredit » Mon Nov 07, 2011 9:35 pm

so far i love it. coz its my first card with rewards.. so mainly i use it instead of my debit card. ill work on my history with amex. i got more offers in the mail.. discover is sending me pre-approved offers. nah, ill pass on it. i dont want any cc for now.. i have a mastercard, a visa and an amex. it should be good for now and just work on my credit score for at least a year before i get my next one. hopefully, wells fargo will promote me to an unsecured credit card soon.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: nohnigehewqh86 and 2 guests