Which bank (Capital One, Chase, Washington Mutual) is the better choice if I wanted to open a credit card?
Answers:
bank of america!! everyone i know that has an account with them has recommended i open an account there.
but out of those...washington mutual, but i think you need to go inside the actual banks near you. find out as much information as you can about the accounts. google information online. talk with the manager and staff and ask what they think. don't just pick one because it seems good. they will be handling YOUR MONEY.make sure you are not going to get f'd over.
chase is grimy!! i have literally spent nights crying because of how they treated me!! i am currently trying to close my checking and cc accounts with them. they try to steal your money in every way they can. for example, their checking accounts are not free and they charge you 35 cents everytime you make a transaction with the teller at the bank!! (they don't tell you this) the customer service is okay as far as returning your money for outrageous overdraft fees and such, but they will try to give you the run around for as long as possible. they wrongfully closed my account!! and then almost ruined my reputation with chexsystem and then told me they were going to open it, but "lost my faxed information" so i had to harass the supervisors for weeks before they finally reopened it...and they were very rude!! then, they told me that if any checks get returned on my account in the future they will immediately close it and report it to chexsystem WHEN I DIDNT EVEN DO ANYTHING from the start!! also, they count fee removals that are THEIR FAULT and NOT YOURS IN ANY WAY as a "favor," which they can only do 1 time on your credit card in a lifetime and i think 2 or 3 times on your checking account!! moral of the story: stay far away from chase.
capital one outsources its support to INDIA!! i had a cc with them, but as soon as i called and realized that, i closed it! i would not trust that at all & i do not support corporations who want to pay people slave wages just to make a profit.
I have had a better experience with chase, avoid Capital One like the plague!
I have had Chase, and they stink.I made one late payment and they jacked my rate up to 22% from 9% and it was one day late..They stink and I will never use them again...
MY Wife has Cap One and likes them...we never have a problem with them...Don't know much about Washington Mut...
I like my Discover Card..
I have both WAMU and CHASE>
WAMU has higher limits and better rates but I do recommend a CHASE BP card that offers 5% back on gas and 1% back on all other purchases....
both have good service in my experience
I used to have a Capital One but their service and rates were worse.
Hello, I have had a cap1 card for a couple years with no problems accept one.
Cap1 does not and will not report your credit limit to the CRAs. The problem with that is this. one of the things that make up your credit score is how much you owe. When you request your score the CRA will look at your credit card and look at the percentage you owe on the card.
So lets say your limit is $1000.00 and you only have 500.00 charged on it. When the CRA looks at it they are not aware that you have a $1000.00 limit and assume you are maxed out at 500.00. This trashes your score.
What you can do is this.
1. When you get your card ( you most be very disciplined ) take a cash advance for 90% of the card and save the money. Once the bill comes pay it down do not pay it off. Carry a small balance it looks good on your CR. What this does is records a high limit with the CRAs and as long as you never charge over 30 or 40% of your limit you will be in good shape.
2. Simply write a letter to all the CRAs and send a statement with your credit limit on it and ask them to record that in the trade line. They will and it keeps your score good regarding amounts owed (on that card)
I also would like to add that Cap1 does not have universal default. Or in other words they will not jack up your interest rate because you are late on a payment.
From Cap1
“I want to be clear that we do not do any form of “universal default.” This has been our long-standing policy. We will not reprice a customer if they pay late on another account with us or any other lender, or because their credit score goes down for any reason.”…”There is only one circumstance in which a customer might be subject to default repricing – if they pay us more than 3 days late twice in a 12 month period”.
John Finneran, General Counsel
Capital One Financial Corporation
Testimony before U.S. Senate Committee on Banking, Housing and Urban Affairs
January 25, 2007
Good Luck!
I would go with the one that is offering the best interest rate and terms. Many of these banks will offer an introductory APR of 0% for 6 months or longer. Find out what the APR% will be when this period is over and see if you can fit that into your budget. Be sure to read ALL the terms, conditions and fee disclosures BEFORE you sign up.
I personally have Capital One. Besides the interest rate being very reasonable, they have an website where you can view your account real time and make payments at no charge. Many credit card companies will charge a transaction fee to make online payments. I hope this helps!
Avoid Captial One. They do not report your true credit limit. Chase has decent cards, I have 2 of them myself. Washington Mutual has some decent cards, but since they bought out Providian, that could be trouble because Providian had some crummy cards. You might want to check out Bank Of America, Citi, and HSBC as well. Shop long and hard before filling out an application
Capital one sucks like posted above it reports the wrong amount to the CRA and messes up your credit score.I do like Wamu it does have a higher APR but pay your bill off and you dont have to worry about that also it give you your FREE fico score every month through Transunion and Experian .
It depends on your credit score. You need good credit to get an account through Chase and they are the best of the 3. Cap One and WAMU are fine as well as they offer programs with no annual fees and low interest rates. Remember, the key is to never is a payment, even if you can only make the minimum and try to pay your balance in full every month. This will not only keep your rate down, but help keep your credit score high.
I've heard lots of negative things about Capital One. Not sure about Washington Mutual, but Chase seems to have a pretty good reputation. Of course, you shouldn't limit yourself to just these issuers. Compare a wide variety of credit card offers to make sure you're getting the best deal. Here's a great place to start:
http://www.asapcreditcard.com
Hope this helps. GOOD LUCK!
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