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Hi Everyone,
I'm shopping around for a card with a low teaser rate to transfer a high rate balance. The sites Tony posted recently have been a big help. Next Card is offering a really low intro rate. Does anyone have this card? Are they any good or should I stay away?

Thanks,
Bookworm
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I have a NextCard account. I was able to consolidate a few high interest rate cards to the 4.9% intro rate with NextCard. The problem is that the interest rate goes to 19.8%. Yikes!!!

NextCard's big promotion is that they want to handle everything over the internet. You can check your balance, download statements, make transfers, and ask questions all at their website. I have sent three letters from their website asking that the interest rate stay comparable to my MasterCard or I would close my account. All three of those emails have been ignored. Any other question I have asked through their site has been handled promptly and satisfactorily.

Every time I made a charge NextCard would call me the next day asking if the transaction was legitimate. I know this is a good thing from the aspect of stopping possible fraudulent use of my account, but in reality it was very annoying. I felt as if I were having to ask for permission to charge. It was OK when I bought my computer and the charge was over $2000, but really trivial when I made a $10 purchase over the internet.

Does that help at all?

I am happy to answer any other questions you have about NextCard if I can.

Ms Joe

PS to all my new Foolish friends -- Charging the computer was not exactly in line with my debt reduction/elimination plan. But I have a really good rationalization about why I needed it: school, career enhancement, the possibility of telecommuting. Still friends?
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>>>
I have
sent three letters from their website asking that the interest rate stay comparable to my MasterCard
or I would close my account. All three of those emails have been ignored. Any other question I
have asked through their site has been handled promptly and satisfactorily.
<<<

There are soooo many cards out there why stick with any company that ignores you. Internet based banking should be cheaper but your regular MasterCard is cheaper. Vote with your Feet!

Patrick
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Patrick,

Trust me, I voted with my feet. When my last request was ignored I immediately transferred the balance to my MasterCard. When I call them to close the account I'm sure they will behave very differently than on the website.

Ms Joe
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I have a Nextcard, and the biggest downside is that the intro rate (which is different depending on how much you transfer) lasts only 3 months. I've never used it to make a purchase.

The ironic thing is that even though Nextcard is supposed to be a very net-savvy card, they still haven't gotten their web-based payment system online yet and they don't have the web-based cash advances (deposited to your checking account) working yet either. Also, according to my credit union, they don't have an electronic payment address yet, which means that online bill payment takes 6-8 days instead of 1-2.

If only I could get both online statements AND online bill payment to work ;)

My MBNA and Citibank cards both have electronic payment addresses, so I can use my First Tech CU account ( http://www.1sttech.com/ ) to pay those bills online.
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BTW, my Nextcard post-introductory rate went to 18.4%, not 19.8%, so I think MsJoeCool got a bum deal ;)

But I, too, transferred to another existing account which has an ongoing balance transfer deal at 6.9%. Just 2 more months to go! Woohoo!

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Thanks for the intro on NextCard. I think I'll look else where. I'd like a card with a longer introduction rate than 3 months.

Bookworm
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