Amazon Card to hard to get

Without going into a long discussion , let me tell you in a few words ... you really dont want a card from Chase . After having a a perfect record with them for 7 years and 15k limit ; I got scewed by Chase with a situation that was not my fault and had no control over that cost me DEARLY ! . Chase would not fix the situation and along with that thier customer service just being flat out terrible (out-sourced) ; specialy when compared to better cards such as Discover and Amex . My personal recomendation is to avoid Chase .

stereo555 said:

Without going into a long discussion , let me tell you in a few words ... you really dont want a card from Chase .

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apparently chase didn't want me to have a card with them. i was going to switch from my citi platinum card to the chase freedom. i applied online but never heard anything about it. guess they didn't want my business.

it probably turned out for the better though since i decided to apply for a home loan a few weeks after that.

stereo555 said:

Without going into a long discussion , let me tell you in a few words ... you really dont want a card from Chase . After having a a perfect record with them for 7 years and 15k limit ; I got scewed by Chase with a situation that was not my fault and had no control over that cost me DEARLY ! . Chase would not fix the situation and along with that thier customer service just being flat out terrible ; specialy compared better cards such as Discover and Amex . My personal recomendation is to avoid Chase .

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Hmm I am now a chase customer after they bought Bank of New York and have three of their cards. One is a circuit city card, another is a chase platinum and the third is a platinum that I had with Bank Of New York that is now a chase card.

Have not had many problems with them so far, but havent had to call them about a problem either.

What exactly did they do that was so bad?

Discover and Amex are not accepted at a lot of places unfortunately.

stereo555 said:

Without going into a long discussion , let me tell you in a few words ... you really dont want a card from Chase . After having a a perfect record with them for 7 years and 15k limit ; I got scewed by Chase with a situation that was not my fault and had no control over that cost me DEARLY ! . Chase would not fix the situation and along with that thier customer service just being flat out terrible (out-sourced) ; specialy when compared to better cards such as Discover and Amex . My personal recomendation is to avoid Chase .

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Oh, I wouldn't of used their card. I would of kept it for a few months, having already paid off the purchased item that came with the card, and eventually cancelled it. I just seen it as a free 30 dollars off ^^.

Discover and Amex are not accepted at a lot of places unfortunately.

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Really? I have yet to shop at a place that didn't accept either...

CGR said:

Hmm I am now a chase customer after they bought Bank of New York and have three of their cards. One is a circuit city card, another is a chase platinum and the third is a platinum that I had with Bank Of New York that is now a chase card.

Have not had many problems with them so far, but havent had to call them about a problem either.

What exactly did they do that was so bad?

Discover and Amex are not accepted at a lot of places unfortunately.

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Ok , in short ...

I usually wait for the bill by snail-mail , then pay online with-in a few days . Well my bill came late (3 days late , due to lousy mail service in my area) , so I paid it immediately online , then called Chase cs to explain the situation and that the lateness was not to due to my negligence and asked if this would effect me negatively in anyway . They told there was nothing they could do for me and that my card percentage would change form 6.9% to 24% . They also told me i'd have to wait a "full year" (12 months) before they would review my situation again and then "MAYBE" the status of my card would be restored back to normal . I tried multiple times to get this cleared up and basically got the same reply each time . I had 10k on the card at the time which translates into about $3k just in interest alone for that year. I continued paying the bill for the next 4-5months this way (on time) , when all of a sudden I noticed my interest rate went up AGAIN , but now to 29.99% ... i sad WTF is going on here . Called Chase again , with them now telling me i was "reviewed" again , and more of a rick to them (being late that ONE time) and that my cards percentage would reflect that . So NOW , that makes almost $4k just in interest alone (during that one year) Iam paying on this card !!!! .
I evetually had to take out a loan to pay this damn thing off (in full) to avoid paying these ridiculous fees any longer .

I also had a Bankone card at the time with a 6.9% interest rate that was in perfect standing . Chase bought them out during this time and that card too went directly up in interest to 29.99% . I got the same response from Chase again on that one also ; saying i was a high risk due to that one late payment with the other card . I then ended up paying the Bankone off in full immediately !

Too make a long story short ... Chase does not revear their customers , even customers with an outstanding record for years . They wont budge even for the slightest mistake made (your fault or not) . Chase also now out-sources "all" their customer service , which is a REAL pain in the *** in its self , even just to understand ( clear ,verbal words) with these people .

Btw , Chase cards are fairly prevalent online under different store names such as Buy.com , Disney.com , Amazon ,etc . So be careful about what card you think your getting at these places .

*added note:
Due to my continuing terrible snail-mail service in my area , some of my other bills have arrived late also , both for Discover and Amex . Both were paid asap online with no penalties what so ever from both cards ; specially with an excellent payment record . Ive personally gotten calls from both Discover and Amex , with both understanding my situation ; and that a few days late would not have any negative impact (as long as it was not a monthly accurance; which it is not) . Both Discover and Amex have been top-notch with me and will listen to the customer when needed . I contiune to keep my current % rates with both .

what would they expect you to do if you were just paying by check through the mail? the bill was already late by the time you got it. that's kind of messed up.

as far as the interest rate changing from 24% to 29.99%, that's probably just the default highest interest rate that changes. it's not like a fixed rate mortgage where the rate is locked in. you "blew" your fixed rate of 6.9 (i know i know it wasn't your fault) when that payment was late.

stereo555, that situation sucks. I hate to say it but (part of) the lesson from that is not to carry a large balalance although of course the 1 time lateness was not your fault.

I have had long-term experience only with Discover and they must have loved me because due to circumstances I had to carry a balance for quite a while.. Anyhow when I got to paying off the balance I called and asked them about the interest rate which had gone up because of a late payment (paid late by a day or two online) They said the APR should have been reviewed automatically but wasn't and I had statements going back 2 years to show this. I called right after making the payment and was told it would be removed but the APR increase went through. Since it was supposed to be reviewed automatically I asked them why it was still so high and they said 'dunno' basically so I got a back adjustment for a the excess interest over a year. It was a few hoops to jump through with followup calls but overall their CS was topnotch.

This was a while ago. Since that I am paying my CC balances in full aside from a 0% APR for which I just set aside the money fr any purchases and will pay off in full before the 0% expires. In fact that card has 0% on cash advances as well I may just max it out and invest the cash, should make more than the advance fee cost.

Rydis said:

...outstanding credit owed on closed accounts.

Last one is rather odd, since the only closed account I have is a savings account which I closed out to put in a CD. I will hvae to check on that, because thats fishy to me.

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What this could actually mean is that the records show that you have closed credit accounts where money is still showing as being owed. Have you ever opened a different charge account to get a discount that was offered for applying for it? I know I have. Get 10% off now if you apply for our store credit card! If you did anything like this previously and then closed it that could be an issue. Maybe they had some service fee you weren't aware of. Maybe your girlfriend bought something with it that you weren't aware of before you closed it. You should be able to see any and all of that in a credit report though.

Aktunka said:

What this could actually mean is that the records show that you have closed credit accounts where money is still showing as being owed. Have you ever opened a different charge account to get a discount that was offered for applying for it? I know I have. Get 10% off now if you apply for our store credit card! If you did anything like this previously and then closed it that could be an issue. Maybe they had some service fee you weren't aware of. Maybe your girlfriend bought something with it that you weren't aware of before you closed it. You should be able to see any and all of that in a credit report though.

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No, amazon would of been the first. I tried for a CC long ago as my first card and was denied but thats it. I am still awaiting my Q4 report.

djrussell said:

banks like to see you use a certain amount of your available credit every month. i think it's something like 20-30%.

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Actually, what they meant by "too much unused credit" is that he's reached the maximum amount of credit that can be made available to him. If someone makes (hypothetically) $30,000 annually and has a $10,000 revolving credit line, they're about maxxed on how much unsecured credit they can get. Future attempts to get more credit will result in such denials because it's a risk for someone to have more credit than they could pay back if they should suddenly decide to use the credit available to them.

So in other words: We are all "worth" a certain amount of money. Once we exceed that worth we are no longer extended loans because we could get in over our heads and the bank ends up losing money on us.

Banks do not determine what makes for a good credit score. Someone who is responsible with credit makes the banks less money than someone always having a balance and paying interest. But the responsible person with no debt will have a higher score than the interest paying and less responsible credit user. It's all HOW you use credit, and to control how much credit has been given to you. One or two credit cards is more than enough. But most people have numerous credit cards, retail cards, gas cards... plus car loans, mortgages, etc. All of this accumulation of credit eventually reaches the cap for their income.

Pinky said:

Actually, what they meant by "too much unused credit" is that he's reached the maximum amount of credit that can be made available to him. If someone makes (hypothetically) $30,000 annually and has a $10,000 revolving credit line, they're about maxxed on how much unsecured credit they can get. Future attempts to get more credit will result in such denials because it's a risk for someone to have more credit than they could pay back if they should suddenly decide to use the credit available to them.

So in other words: We are all "worth" a certain amount of money. Once we exceed that worth we are no longer extended loans because we could get in over our heads and the bank ends up losing money on us.

Banks do not determine what makes for a good credit score. Someone who is responsible with credit makes the banks less money than someone always having a balance and paying interest. But the responsible person with no debt will have a higher score than the interest paying and less responsible credit user. It's all HOW you use credit, and to control how much credit has been given to you. One or two credit cards is more than enough. But most people have numerous credit cards, retail cards, gas cards... plus car loans, mortgages, etc. All of this accumulation of credit eventually reaches the cap for their income.

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I think there are exceptions. If this was the full case then anyone who pays on a care (well average person) would cap out just on the car, let alone their house or any credit cards they do own. I am with you though that should have a few (I have 4, 2 which I dont use. Capital one which sucks, and my Bank of America card which has like a 19.9% interest. Dis/Amex are in the 4.5%-6%) Though I do have credit for my car which is 11k still owed, and I only make 27k a year.

But I get the gist of what your saying.

It came today finally. Had a score of 766, 745, 760. No negatives on anything, and I have NO closed accounts. I am now curious as to why Chase said I owed money on a closed account now....

Rydis said:

I think there are exceptions. If this was the full case then anyone who pays on a care (well average person) would cap out just on the car, let alone their house or any credit cards they do own. I am with you though that should have a few (I have 4, 2 which I dont use. Capital one which sucks, and my Bank of America card which has like a 19.9% interest. Dis/Amex are in the 4.5%-6%) Though I do have credit for my car which is 11k still owed, and I only make 27k a year.

But I get the gist of what your saying.

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it's not so much the total value of everything you owe on (ie mortgage, car loan, credit cards). that could easily get into the hundreds of thousands. the term of the loan makes a big difference or, to put it differently, the monthly amount that you have to pay. creditors want to make sure you have enough left over each month to pay them too.

Pinky said:

Someone who is responsible with credit makes the banks less money than someone always having a balance and paying interest. But the responsible person with no debt will have a higher score than the interest paying and less responsible credit user.

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Not necessarily true. When my parents got their last credit report, it was lower than it should have been. They asked why and were told that it was because they always pay their balance in full, on time. Apparently keeping some balance on a card (whether or not it is high enough to require interest payments) can raise your score as long as you don't go over limit

petteyg359 said:

Not necessarily true. When my parents got their last credit report, it was lower than it should have been. They asked why and were told that it was because they always pay their balance in full, on time. Apparently keeping some balance on a card (whether or not it is high enough to require interest payments) can raise your score as long as you don't go over limit

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I have never heard that one. Who told them that? The reporting agency or the credit card agency?

Whenever I get my reports it tells you what has a positive and negative impact and paying off the card every month is never on the lists.

If that is the case then there is a huge problem at the reporting companies. Credit card companies shouldnt be giving bad reports for paying off your bill every month.

Edit: Man after doing some searches I found oodles and oodles of complaints about all the credit card companies. Lots of them were having low balances and having the rate jacked up over 25%.

Lets hope the new bills in congress about the way credit card companies conduct business will be passed and make them be more fair/honest.

Probably because if you pay off your bill every month in full and on time, they can't make any profit off of you (assuming no annual fee), therefore give you a slightly lower rating.

petteyg359 said:

Probably because if you pay off your bill every month in full and on time, they can't make any profit off of you (assuming no annual fee), therefore give you a slightly lower rating.

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Thats what has to be stopped. Paying your card every month should increase your rating as it shows responsibility.

petteyg359 said:

Probably because if you pay off your bill every month in full and on time, they can't make any profit off of you (assuming no annual fee), therefore give you a slightly lower rating.

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not entirely true. you buy an item on credit. you pay your credit card company 100% of the price. they pass on like 98% of that to the store and keep the other 2%. so it's fair to say they don't make as much money if you pay it off monthly. it's not true that they don't make any though.

Its probably more than 2% I would think. More in the 5 - 10% range I would imagine. I think thats one of the reasons you see more than a few restaurants that dont accept credit cards. They dont want to pay for it.

yeah, i really have no idea how much it is. you get the idea though. at sears, we were instructed to urge the customers not to use non-sears credit cards.