MasterCard Platinum card offer, should I accept?

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InCreditWeTrust
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MasterCard Platinum card offer, should I accept?

Postby InCreditWeTrust » Fri Apr 06, 2012 9:05 pm

Greetings,

I recently received a few in-mail offers from MasterCard offering me their Platinim card with a starting credit limit of $750.

I also recently in the past two weeks opened up two credit card accounts with (Citibank, and WF) and now have a total of three cards (Capital one being the other one).

I just wanted to get Forum members advice if I should accept this credit card offer or not?

Note, I am interested in canceling my C1 card once the payments are complete, I'm not satisfied with Capital one. So should I accept the MasterCard offer? How often does MasterCard increase your credit limit? What is their customer service like?

Regards, In Credit We Trust


bmw1990Z
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Postby bmw1990Z » Fri Apr 06, 2012 10:42 pm

what are the benefits of the mastercard?
Cards in my wallet:
-Citi Forward Card for College Students-July 2011
-American Express Platinum Delta Skymiles--July 2013

Money card
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Postby Money card » Sat Apr 07, 2012 12:11 am

My opinion is this. When you look at your credit report all it will say is name of banks, whether you pay on time or late, it will also have your credit limits, your monthly minimum payment and your highest balance.

There is no Mastercard customer service (or should I say that you will deal with) and you probably received a mailing from 1 of the banks.

But your credit report just mentions the financial company, yours being Wells Fargo Capitol1 and Citibank.

I would suggest since you have 3 bank cards, 1 you're getting rid of, have you thought of a Discover card? Your credit report could read like this Wells Fargo, Citibank and Discover ?

After you get rid of capitol1 you will have 2 bank cards, do you really want a third? Or would you be interested in a Discover?

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InCreditWeTrust
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Postby InCreditWeTrust » Sat Apr 07, 2012 12:57 am

On second thought I don't think I will accept this offer after further reading the disclosure paper attached with the credit card offer.

Cons:

$59 annual fee
No real benefits or rewards
So many misc. fees

I would suggest since you have 3 bank cards 1 your getting rid of have you thought of a Discover card?


I once briefly looked into the Discover More card, but that's about it...

andy1088
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Postby andy1088 » Sun Apr 08, 2012 6:34 am

InCreditWeTrust wrote:On second thought I don't think I will accept this offer after further reading the disclosure paper attached with the credit card offer.

Cons:

$59 annual fee
No real benefits or rewards
So many misc. fees



I once briefly looked into the Discover More card, but that's about it...


Sounds like you got the same bogus "mastercard" offers I often get. Go with a Discover card they have great customer service, offer excellent rewards and personally I haven't noticed too many places besides small establishments that don't take them. Also, if you want a visa or mc get Chase Freedom, but Discover does offer a better start up (0% interest 12 or 15 months and $100 back for spending $750 chase only gave me $200 back for $500 and 22.9% apr ouch)
My cards
Chase-Sapphire-$5,000 Freedom-$3,000, Amazon rewards-$700, Slate-$600
Citi- Diamond Preferred-$4,000, Thank you-$2,500
Discover IT-$2,500
Bank of America cash rewards-$2,000
Capital one newcomer rewards-$500

DavidNY
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Postby DavidNY » Sun Apr 08, 2012 10:39 am

Discover does not have a great reward program. Their rewards are tiered and one needs $50 in rewards to get cash back. BofA and Chase have better reward programs.



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