Re: Credit Score and New Credit

Posted by EuterpeThelo (67.73.60.70) on August 11, 2003 at 21:44:49:

In Reply to: Re: Credit Score and New Credit posted by John on August 11, 2003 at 21:21:27:

The cards I have had good luck with in rebuilding my credit have been Capital One and Bankfirst/Action Bank.

(Although I have heard of people having bad experiences with Cap One, my interactions with them have been pleasant--not that there have been no problems, like charging me $60 for PrivacyGuard that I didn't order!--but they have been very willing to correct errors and even waive valid fees as a courtesy providing you don't ask for it too often.)

I had some bad luck being out of work for almost the first half of 2002, and out of all my cards, those two were the most willing to work with me.

Action and Cap One were also both far kinder than they had to be as far as reporting me to the CRAs and were flexible in making concessions on fees that would allow me to catch things up more quickly.

In my experience, the ones to avoid if you are rebuilding your credit are Providian and Cross Country. Both charge usurious interest rates, especially if you miss a payment--it jumps to 30%! Plus, Cross Country makes a lot of mistakes and calculates things on a really unpredictable time frame--and is not prone to correcting problems, even when it's their own fault. They NEVER waive fees or negotiate, they will not resolve any disputes over the phone, plus they don't even have a toll free number to call and get a living breathing person to talk to!

-ET

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