JacksonM wrote: I was "encouraged" to work it out myself. I put the dispute through, but does anyone know why they ask this? Is it in place in an attempt to discourage people from following through with claims?

Yikes, was your credit card information stolen? Yes, they're likely trying to discourage folks from initiating claims because it costs the company time and money. Don't forget that they have to deal with the seller and "investigate" the situation. I think chargebacks are more common now because the word is out and consumers are more aware of their rights. I'm sure some scammers abuse the process too. I also wonder if any of it has to do with the Experian breach. Maybe they're overwhelmed with claims right now.

Seems like I'm the only one using this thread, but strange things are popping up lately.

Recently I was going over my credit card information and had a purchase I didn't recognize from a company I've never heard of. When I initiated the dispute process, I was asked if I'd tried to resolve it with the company. I hadn't because it wasn't something I authorized. Before continuing I was "encouraged" to work it out myself. I put the dispute through, but does anyone know why they ask this? Is it in place in an attempt to discourage people from following through with claims?

FrankN wrote:

JacksonM wrote: I was recently "invited" to become a Luxury Card member with a Mastercard Black Card. When I first opened it I laughed because I didn't know black cards actually existed. I thought they were a filler for movies, like 555 for phone numbers. It's not a card I would apply for since it has a $495 annual fee, but it still blows my mind that I received this offer.

Do you remember what the limit, interest rate, and benefits were for the card?

The interest rate was something like 15.99%. The benefits were mostly travel related. I think 2% back, access to lounges, a free Luxury magazine, and the like.

Moneyes, I didn't follow through with the application. I'm just still shocked I received it.

Barclays sounds better than it is. They have a good marketing team, that's for sure.

Just make sure you're not overextending yourself with a card like that.

There are many premium high tier cards in the market place for the same or similar AF with real benefits!!! Examples: US Bank Altitude Reserve Infinite Visa, City National Bank Crystal Visa Infinite, Chase Sapphire Reserve Infinite Visa, JP Morgan Chase Ritz Infinite Visa, American Express Platinum, to name but a few with top end benefits and AF's of $400 to $550. These are real top shelf cards if a person can utilize true travel benefits and leverage their partners (airlines, hotels etc). Like most things Barclay's does today, their Luxury Cards at expensive low benefit cards (too bad). The initial starting credit lines is generally at least $10,000 (you need to qualify for this level). Oh redemption ... most have ways to leverage travel points to 3 points per dollar or more depending on the partners where Barclays is not that strong.

JacksonM wrote: I was recently "invited" to become a Luxury Card member with a Mastercard Black Card. When I first opened it I laughed because I didn't know black cards actually existed. I thought they were a filler for movies, like 555 for phone numbers. It's not a card I would apply for since it has a $495 annual fee, but it still blows my mind that I received this offer.

Do you remember what the limit, interest rate, and benefits were for the card?

I was recently "invited" to become a Luxury Card member with a Mastercard Black Card. When I first opened it I laughed because I didn't know black cards actually existed. I thought they were a filler for movies, like 555 for phone numbers. It's not a card I would apply for since it has a $495 annual fee, but it still blows my mind that I received this offer.

Ronald, let us know which credit card you go with and why you chose it.

Hi,
Thanks a lot for the information. It would be a great help.
Thank you

With the holiday season not far away, now is a great time to get a credit card if you have some upcoming expenses. Your credit card bonus can be used for travel or lodging which may help you limit some of your holiday expenses.

I would recommend against closing your credit card regardless of the low credit limits. You should consider the below 3 factors before canceling:
• Length of credit history - If you have had these CCs for a long time, canceling them can potentially hurt your credit score
• Mix of credit – the more diverse your credit types, the better your score
• Utilization rate - considering all of your credit cards combined, even though these CCs has low CLs

If the CCs have annual fees, you can consider canceling, but if they do not, I would recommend just storing them away or using them once a month on a small purchase to keep the good payment history going.

I had a recent credit card approved with a limit of $7500. I have a few cards that were approved about 6-12 months ago, before my score shot up drastically and prior to my CH 13 falling off, around $3-500, but I also have larger limit cards. Will those few cards with the limits at $3-500 hurt me and if so, should I close them? I know closing accounts can also be bad but I wasn't sure if having cards with a drastic CL difference like that would be worse.

Thanks!

My best reward credit card is with my local credit union, 1% cash back rewards on purchases** As an added bonus, your cash back rewards are deposited each February into a special Rewards Savings account that earns an amazing 10.00%APY for Advantage members and 5.00% APY for non-Advantage members.*** Which I am an Advantage Member. So, I use this card for as much as I can, bill pay, grocery shop, etc. Plus, the debit card attached to my checking, for every $1.00 I spend I earn 1 point, for every 6000 points I get $25.00 cash back. And with every day activity, I say I rack up those points every 4-6 months depending my spending habits and needs for the time of the year. I have a credit card with US Bank that offers zero perks. Which the U.S. Bank CC has a low balance. Once paid in full I will not really use it, except for small purchases here and there like gas to make sure the card stays open.

As I read different credit card reward program offers and write-ups I have to chuckle. While we are striving to maximize our reward returns I find the very narrow categoires that are used for the 5% categories such as Lowe's, Home Depot, Theme Parks, Movie Theatres, and if we are luck maybe gas stations, or free standing bookstores. Seldom are the catgories broad and when I view the people I know, few would spend much in the categories. Truth... 1% is the rule for most. Discover has the 2% specials that are really good if you can jump on them. Also, another kick is the redemption game. Can you redeem for at least the 1% or more you acquired the points? Have to watch that one!!! Caps on accrurals is the game to stop cardholders from gaming the card companies... Hmm... something to think about!

Does anyone have a Kohl's charge card? I would say over the past year, I think since Capital One stepped in and Chase no longer backs their card financially, they stopped giving credit line increases. Has anyone else run into this issue? When I call they say they are updating their system’s that assist with deciding the credit limit increase, please call back in a couple of weeks. Every few months I get that same line.

Yes, I have a Kohls Charge Card with a $1,200 credit limit set by Chase on openning (2009). Never requested an increase and don't need one. Called Kohls once and they said families often times have limits as high as $3,000 (back when Chase processed the credit). As to Capital One, all you have to do is read the write-ups on them and most will say Capital One still thinks and acts like a sub-prime lendor and awards multiple credit cards with limits under $1,000. A few people are starting to see a change but not many. Capital One usually limits to under $3,000 for a credit limit. As an aside, I have had seven Capital One Cards and all were under $1,000 except for Business Cards where I reached $6,000 and $10,600. Closed all of them!!!