"Tribute Credit Card"
Tribute® Gold MasterCard® Credit Card Review
Written by: 02161954 on 2008-11-25
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02161954's review: 
Im outraged with this credit card. Ive have the card for almost 2 years. I have perfect pay history but they said they closed the account because of delinquency or over the limit status. Out of the two years September I went over the limit which I paid the amount due on time. So this was their reason... One month that I went over the limit
Im outraged with this credit card. Ive have the card for almost 2 years. I have perfect pay history but they said they closed the account because of delinquency or over the limit status. Out of the two years September I went over the limit which I paid the amount due on time. So this was their reason... One month that I went over the limit
10 Comments
Comment 1 by arod
I'm Sorry To Hear That 
on 2008-11-25
This is something that is now the new way of credit. I was reading in bankrate and also came out on the news Creditors are now looking at everything on your file from going over your limit or paying late or just forgetting to pay a bill... It can now cause you to loose your credit cards good and bad... I really think we will soon hear more cases just hang in there on try www.Orchardbank.com or www.Capitalone.com
or open a secured credit card from Bank of America or Citibank they offer this deal.
anyway goodluck to you.
Take care,
Alex
on 2008-11-25 This is something that is now the new way of credit. I was reading in bankrate and also came out on the news Creditors are now looking at everything on your file from going over your limit or paying late or just forgetting to pay a bill... It can now cause you to loose your credit cards good and bad... I really think we will soon hear more cases just hang in there on try www.Orchardbank.com or www.Capitalone.comor open a secured credit card from Bank of America or Citibank they offer this deal.
anyway goodluck to you.
Take care,
Alex
Comment 2 by thomas1
TRIBUTE on 2008-11-26
Sorry to hear this! I have a friend who has had the old Aspire card, cl of 4k, no AF, always pays in full. Of all the subprime cards out there, this is one of them. They are owned by CompuCredit.
This week he got a letter that they are discontinuing their card program. I think its happening with other subprime lenders as well.
So they are closing his account on 12/8. I had him call and close it now at his request, instead of it showing up on his bureau as "closed by credit grantor"
At the time he got the card, his credit was so terrible that no one would touch him, he now has Cap1, HSBC, and Hooters.
He doesn't need it anyway, as they too are shisters. Unfortunately, Arod is right, and there will be a lot more of them shut down, and most banks now are watching and waiting for one slip up from the consumer.
Cap One is also telling cardholders from the backdoor number that the current credit lines must now be maintained for 6 months before even considering ANY increases!
It's gonna be a very bumpy road, and we must be careful to be on time, and keep utilization VERY low. Right now, banks don't want to see us needing to use high credit, and are slashing limits, and closing accts, etc. Try to pay in full or most in full.
I am trying to pay cash for most everything now, only charging a tank of gas spread out on a couple cards, and paying in full.
on 2008-11-26 Sorry to hear this! I have a friend who has had the old Aspire card, cl of 4k, no AF, always pays in full. Of all the subprime cards out there, this is one of them. They are owned by CompuCredit.This week he got a letter that they are discontinuing their card program. I think its happening with other subprime lenders as well.
So they are closing his account on 12/8. I had him call and close it now at his request, instead of it showing up on his bureau as "closed by credit grantor"
At the time he got the card, his credit was so terrible that no one would touch him, he now has Cap1, HSBC, and Hooters.
He doesn't need it anyway, as they too are shisters. Unfortunately, Arod is right, and there will be a lot more of them shut down, and most banks now are watching and waiting for one slip up from the consumer.
Cap One is also telling cardholders from the backdoor number that the current credit lines must now be maintained for 6 months before even considering ANY increases!
It's gonna be a very bumpy road, and we must be careful to be on time, and keep utilization VERY low. Right now, banks don't want to see us needing to use high credit, and are slashing limits, and closing accts, etc. Try to pay in full or most in full.
I am trying to pay cash for most everything now, only charging a tank of gas spread out on a couple cards, and paying in full.
Comment 3 by wanderer
Tribute Credit Card on 2008-11-26
We are suppose to have credit or we can't... If we use it we can't. So the greed on Wall Street takes the rest of us down. Right... Thanks for the comments on the card. Thomas and ARod your findings don't make my day but...! It is what it is...
on 2008-11-26 We are suppose to have credit or we can't... If we use it we can't. So the greed on Wall Street takes the rest of us down. Right... Thanks for the comments on the card. Thomas and ARod your findings don't make my day but...! It is what it is...
Comment 4 by wanderer
Tribute Gold Comment 2 on 2008-11-26
In following the impact of a card closure try this... I have "MyFico.com" report showing (EX,TU, EQ) "ALL" accounts paid zero except the auto loan (current 0% loan). My score dropped over 12 points. Give me a break!!! This is BS!!!
on 2008-11-26 In following the impact of a card closure try this... I have "MyFico.com" report showing (EX,TU, EQ) "ALL" accounts paid zero except the auto loan (current 0% loan). My score dropped over 12 points. Give me a break!!! This is BS!!!
Comment 5 by yoyo11
I Know on 2008-11-26
My fico transunion dropped 9 points after I paid off 5 cards...
on 2008-11-26 My fico transunion dropped 9 points after I paid off 5 cards...
Comment 6 by brian23
Yeap.... on 2008-11-26
It would appear that Compucredit Corp (managing company of this card) is dropping a lot of card holders. There is word on this site that its because the feds have been investigating more into this company and their marketing/customer service techniques.
Try some of the other rebuilders out there (Cap1, Hooters and Orchard) and build with those.
BC
on 2008-11-26 It would appear that Compucredit Corp (managing company of this card) is dropping a lot of card holders. There is word on this site that its because the feds have been investigating more into this company and their marketing/customer service techniques. Try some of the other rebuilders out there (Cap1, Hooters and Orchard) and build with those.
BC
Comment 7 by meya
True! on 2008-11-26
I agree with what everyone said here, I hate it happen to you, but seems like they are not only targeting you for this same situation. There are plenty of more here being treated the same way. They are in trouble and they are closing as many accounts as possible. My sister is sitting on pins and needles with them also, she knows one day, she will be next.
I really hate this for you all, but like members just mentioned, Try Cap 1 one, Orchard, Hooter's, or Barclay's for right now (if yoyu have not done so already) to establish another trade line.
on 2008-11-26 I agree with what everyone said here, I hate it happen to you, but seems like they are not only targeting you for this same situation. There are plenty of more here being treated the same way. They are in trouble and they are closing as many accounts as possible. My sister is sitting on pins and needles with them also, she knows one day, she will be next. I really hate this for you all, but like members just mentioned, Try Cap 1 one, Orchard, Hooter's, or Barclay's for right now (if yoyu have not done so already) to establish another trade line.
Comment 8 by cfmdev49
It's Gonna Get Worse... on 2008-11-26
Now they are watching where you use your card... Heaven help you if you have to use it at a dollar store or a rent-a-center... Or someplace that they deem indicates that your are/will have trouble paying your blls... Any excuse to jack your interest rate and lower your credit limit will do...
on 2008-11-26 Now they are watching where you use your card... Heaven help you if you have to use it at a dollar store or a rent-a-center... Or someplace that they deem indicates that your are/will have trouble paying your blls... Any excuse to jack your interest rate and lower your credit limit will do...
Comment 9 by thomas1
YOYO AND WANDERER on 2008-11-26
Most people say to pay in full each month on your cards, some say keep small balance then charge small, then pay off prev balance to show continuousy activity.
I am going through a FHA mortgage right now, and my broker told me just what I wrote above, to keep small running balances. But, after checking my reports from last month, it made no difference at all. I lost 10 points due to the hard pull across the board, which I expected.
We are not supposed to understand the FICO formulas, and probably never will, because it is a load of crap! Seems like the bureaus try to keep everyone under their thumb.
I have heard though, that the FICO system is going to be overhauled again and giving the consumers a more friendly score due to this economic mess.
I am almost terrified to charge, because NO ONE is immune to the banks tricks of the trade. I don't care how high anyones' scores are. I've seen accounts closed and slashed left and right. I never thought we would be profiled by where we shop!!
I am using one card for minor purchases, and putting 20$ on the others for gas, then paying off, and won't use for a couple of months. Soon, they will have to beg for my business.
on 2008-11-26 Most people say to pay in full each month on your cards, some say keep small balance then charge small, then pay off prev balance to show continuousy activity.I am going through a FHA mortgage right now, and my broker told me just what I wrote above, to keep small running balances. But, after checking my reports from last month, it made no difference at all. I lost 10 points due to the hard pull across the board, which I expected.
We are not supposed to understand the FICO formulas, and probably never will, because it is a load of crap! Seems like the bureaus try to keep everyone under their thumb.
I have heard though, that the FICO system is going to be overhauled again and giving the consumers a more friendly score due to this economic mess.
I am almost terrified to charge, because NO ONE is immune to the banks tricks of the trade. I don't care how high anyones' scores are. I've seen accounts closed and slashed left and right. I never thought we would be profiled by where we shop!!
I am using one card for minor purchases, and putting 20$ on the others for gas, then paying off, and won't use for a couple of months. Soon, they will have to beg for my business.
Comment 10 by meya
Woe on 2008-11-26
Nice posting! You should copy and paste this over to the network in the thread "Carry Balances-Good or Bad?:
http://www.financeglobe.com/FN/showthread.php?502&highlight=carry
I really like your opinion.
on 2008-11-26 Nice posting! You should copy and paste this over to the network in the thread "Carry Balances-Good or Bad?:http://www.financeglobe.com/FN/showthread.php?502&highlight=carry
I really like your opinion.
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Disclaimer: This content is not provided by First Bank of Delaware. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by First Bank of Delaware. Review content is powered by Finance Globe.
