What's wrong with this credit card??I see alot of posts that are negative toward First USA.I have had a F-usa since 1991, It was my first major credit card.I used to have a card that had 16.5% interest, but I traded it in for a Yahoo Visa at 9.9. I got to keep my same credit line ($8500)now its 10k!! The best thing I like about them is that I can pay my bill online and I can set the day to pay it. So what I do is pay it the day before it is due (4th of the month). I keep the money in my money market account so that I can keep getting interest.Otherwise I would have to send the payment by mail and I would have to do that as soon as the bill came to make sure it was paid before the due date or I will have to start paying a finance charge(don't want that)I do the same thing with my Discover card, pay it online the day before it is due.I am just wondering what is wrong with them??Fool on!!
You need to read through the previous posts. You will see various reasons that people do not like FU. I personally did not had a problem with them, but lots of others have. I would advise using their online payment system if possible to ensure they receive the payment in a timely manner. Make sure your bank/CU doesn't charge a fee for doing a debit withdrawal though.
I am just wondering what is wrong with them??Maybe the shorter list is to itemize what's right with them. :)Seriously though, FUSA has been putting the screws to many people through high late fees, dubious payment posting dates, spring loaded interest rate increases for the slightest claimed transgression, etc.My personal experience was with alleged late payments (they weren't and I had documentation to prove it, and they all but ignored me) and non-responsive customer service.Others have posted here about bait and switch "fixed" interest rates, comedy of errors type situations with incorrectly posted payments, and many others incidents which leave you scratching your head and saying "they CAN'T be this blatent/incompetent".Oh, but they are!A couple of months ago, Bank One (owns FUSA and has similar predatory business practices) took a major hit to the stock price due to what was euphemistically termed "customer retention issues" and "pricing strategies", among other things. Plainly stated, they p***ed off so many clients with their shenanagans that those that were able to left in droves.Consider yourself lucky that you haven't had problems, but beware the experiences of others and don't get yourself in a situation that you can't switch your unsecured debt to another more reputable company if they start pulling stunts on you.For further information check out this web site:http://220.127.116.11/~FUSA1/Run, don't walk, from this company!Art
You said it yourself:"Otherwise I would have to send the payment by mail and I would have to do that as soon as the bill came to make sure it was paid before the due date. . ."There is virtually no leeway with making payments timely, especially since FUSA had a problem crediting payments long after it received them.Not everyone feels as though it is acceptable to give direct on-line access to his/her checking or money market accounts.
What's wrong with this credit card??saxnflute (great name, by the way),Consider yourself a lucky one. I had a FirstUSA card for a couple of years before I had any problems. Then, like so many others on this board, I had 2 payments marked late despite the fact that I had paid them online at least 10 days before they were due. Even though I called both times and had the late fees canceled, they still hiked up my rate to 24.99%. I argued and pointed out that they admited the late fees were their error but they still wouldn't do anything. When I finally cancelled the card (that was the best day ever!) and the woman asked me why, I was happy to tell her and she wasn't at all suprised. I'm glad you haven't had to deal with these problems, but if I were you, I'd try hard to never carry a balance on that card.Good luck!Rebecca
Alright - you've convinced me to chime in on my First USA experience. I took them up on a 6-month 3.9% offer. I admittedly made two payments late. I mailed all payments. They didn't do a thing until the six months were up. Rate then went to 19.9% as expected. Paid them off with a tranfer to a new low rate offer. Before the new card even acknowledged the transfer, I had a letter from First USA asking me to come back. They gave me another 6 months at 3.9%, with a fixed 9.9% after that.I plan on taking them up on it, since the extra I had to borrow a couple months ago is at 12%.--ptheland
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