They got me.....again

spinn · 12-14-2006, 10:58 PM

Ok...........I see a pattern developing here. If anyone remembers my thread on First Premier...the same thing just happened with Houshold Bank, my other low rent credit card polluting my wallet and wasting my time.

Two years ago I called to cancel the card as its limit is 1/20th of my other limits and I only kept it for the aging. The rep was amazed that I would even consider losing the prestige of the Household Bank Card with a picture of Homey the Clown on it. Soooooo he made me a very generous offer of the GOLD CARD!!!!!!!!!

After doing cartwheels across my front lawn and telling everyone I know that I HAD BEEN APPROVED FOR A HOUSEHOLD BANK GOLD CARD, I accepted his offer of a 10% interest rate that is ummmmm 10% higher than my other cards.....with no annual fee.

Surprisingly.....they just charged me an annual fee....just in time for Christmas.

Since my FCBA dispute with First Premier got the fees and lates removed I guess I will do it again.......

Yeah I know...its on me......I should know "no annual fee" means no annual fee this year. And I should consider myself lucky that the annual fee is only 16% of the credit limit.

boyblue_77 · 12-14-2006, 11:16 PM

I'm hoping to get back on track, credit-wise, to get rid of my First Premier and Orchard cards.

direred · 12-15-2006, 02:46 AM

spinn, boyblue_77, I know what you mean.

The reason I found Art of Credit in the first place (if crowmom still remembers) is that I had TWO first premier cards (I get the all-day sucker award, don't I? Heck, I had banking relationships with two "banks" seized by the FDIC in sequential order.)

Anyhow, back to the two first premier cards. I'd gone late or overlimit (forget which) and they shut both of them down until I coughed up. When I did, they wouldn't reopen the second card. Google searches brought me to AoC.

Within a month, they'd reopened the second card, but I was SO desperate back then it was pretty amazing.

At the time, I had two FP cards, an Orchard, and a Cap1. I finally closed the last two this year.

Now I've got two Amex, two BofA, a Cap 1 (this would be #3), Chase, Juniper, HSBC (not Orchard), and some others I can't think of offhand.

DUSTY · 12-15-2006, 08:31 AM

Maybe you could add me as a cardholder!!!

spinn · 12-15-2006, 11:16 AM

I think the best plan is to get no more than four cards so you can play them against each other and take advantage of the occassional balance transfer 0% offers.

I would only get five temporarily and when I did that I would get the fifth card from one of my other banks and then combine it with another card from the same bank to get a much higher limit.

I just cant think of a good reason to have more than four cards. The only teaser I see as worthwhile is the 0% money option. I think the airline miles and most other incentives are a joke in light of the money you spend to get them.

Gib · 12-15-2006, 11:36 AM

Quote:

Originally Posted by spinn

I just cant think of a good reason to have more than four cards. The only teaser I see as worthwhile is the 0% money option. I think the airline miles and most other incentives are a joke in light of the money you spend to get them.

Not everyone carries a balance on their cards. What difference does it make how much money you spend to get the rewards/incentives if you are spending the money anyway?

Hedwig · 12-15-2006, 12:12 PM

That's true. Just by putting everything you buy--even the soda at 7-11--on your mileage card and paying it when the bill comes, you can accrue enough miles in a year or so to get a free ticket. Pay your insurance, phone, electric, etc with the card. You're going to pay them anyway. It also gives you an extra month float on your money.

centex · 12-15-2006, 12:27 PM

The one caveat with rewards cards is to make sure you read the fine print carefully...several of them carry annual fees, and if there is a balance, the APR is usually higher than would be found on a non-rewards card. Make sure that the plane ticket is worth whatever other ancillary costs exist with the card...or that the cash back exceeds any annual fee.

As to being hit with an annual fee...back in the days where I carried cards with an annual fee, there was always a notice at least one month in advance of the fee being imposed. The only way to miss the fee was to not pay attention to what was sent by the issuer...

spinn · 12-15-2006, 12:48 PM

I agree Centex...I am actually on thin ice with that one because they do say it was on the statement last month. The thing is....I never use the card so I just check the website to make sure my balance is zero. If it was mentioned on the site I did not see it.

As for all the rewards.....just my gut feeling that they dont "give" us anything for free. I would prefer a low rate no annual fee card.

hannah · 12-15-2006, 01:14 PM

Quote:

Originally Posted by spinn

I agree Centex...I am actually on thin ice with that one because they do say it was on the statement last month. The thing is....I never use the card so I just check the website to make sure my balance is zero. If it was mentioned on the site I did not see it.

As for all the rewards.....just my gut feeling that they dont "give" us anything for free. I would prefer a low rate no annual fee card.

Didn't we have a convo where you promised to read all your statements when you get them from now on?

spinn · 12-15-2006, 07:21 PM

LOOOOL.......

Um yeah but I get excited when I see a zero balance and am just so damn proud of having a HOUSEHOLD BANK GOLD CARD that indicates I am part of the upper echelon of white trash that I must of missed it.