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Author: FixitWoman Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308686  
Subject: Re: CC Confusion (longish) Date: 5/29/2001 6:44 PM
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Hello! I am the person who had the Verizon/Chase dilemma earlier on. I got a card from Chase in the mail today and they didn't okay the balance transfer, for some reason. Maybe because Verizon is issued by Chase. And they only have me a credit line of $500. I really don't understand that. I had a much higher credit line with previous cards.

So, should I keep using Verizon until I can't anymore, or start using Chase? Or should I use Chase at all? Here I thought that I would have a 1.9% APR and they're telling me now that it's around 20% right away.

I also got an offer for a Bank of America Visa Gold card, with a 2.9% APR through November 2001, including balance transfers. After November the APR is between 15.99% and 20.99%. Credit line is $5000

I only have a balance of a little over $250 on my two cards right now, but the whole reason I wanted to get the Chase balance trasfer to 1.9% APR is that I have no money to spend now due to it all going for tuition, and I wanted to have a low interest rate for a while while I start making money in the summer. So, I thought that Chase would solve my problem, but it looks like they don't want to.

Is the Bank of America Visa the better card? Can you guys help me with this?
(Oh, yeah, one more thing...on my credit report from worthknowing.com, where I had a score of 766, it also said that I had 7 credit cards. Well, I no longer have 7 credit cards, only two. I have never used the others, and don't remember having them, but they still exist on the record. Where can I find out what companies they are, the account numbers and the phone numbers, so I can properly cancel these cards?)


After reading this a couple of times, I think I'm on the same wavelength. (However, I quit smoking today, so I'm surprised I have any wavelength at all)

First, I would suggest you do not apply for the offer from Bank of America. The reason being that you have too much open credit. That is probably the reason that Chase/Verizon didn't allow the balance transfer and only gave you a $500 credit limit.

Your credit report should show the names of the accounts of your other cards. I would suggest calling each and every one of them and finding out what your interest rate is, credit limit, etc. Maybe you can transfer from one of your current cards. If any of these companies tell you the account is closed, then dispute it with the credit reporting agency so that it will properly reflect that.

Hope that helps,
Kim

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