cheyenne52883 Posted January 23, 2008 Report Share Posted January 23, 2008 I just got a new REWARDS 660.. Who do they report to? Link to comment Share on other sites More sharing options...
pointman Posted January 23, 2008 Report Share Posted January 23, 2008 You know how tempting it is to reply that they don't report to the Big Three?Seriously - CONGRATS on the new card, and it's a safe bet they report to all three! Link to comment Share on other sites More sharing options...
CleverCynic Posted January 23, 2008 Report Share Posted January 23, 2008 Should be called Rewards 666 Link to comment Share on other sites More sharing options...
ShortBus Posted January 23, 2008 Report Share Posted January 23, 2008 Annual Percentage Rate for Purchases (APR): 19.92%Account Set-Up Fee: $97.00 (one-time fee)Program Fee: $95.00 (one-time fee)Annual Fee: $48.00Participation Fee: $120.00 (annualized†)Starting Credit Limit and Available Credit. The Rewards 660 ® card has a $300 starting credit limit. $250 of fees will be billed to the card at issuance, resulting in $50 of available credit when you receive your card.You're better off putting $300 into a secured card--at least you'll someday see that money again. Link to comment Share on other sites More sharing options...
AboveAverage Posted January 23, 2008 Report Share Posted January 23, 2008 They report to TU and EQ. No EX for some strange reason. Link to comment Share on other sites More sharing options...
virtualrn Posted January 23, 2008 Report Share Posted January 23, 2008 Crap card but it will get you started-imine is currently in my sock drawer...I ought to close it one of these days. Link to comment Share on other sites More sharing options...
whocares Posted January 23, 2008 Report Share Posted January 23, 2008 SEND IT BACK...don't pay all thise fees, get an Orchard secured card instead, you will be happier and they do report to all 3... Link to comment Share on other sites More sharing options...
VeVe Posted January 23, 2008 Report Share Posted January 23, 2008 So the first year of fees is $360 and that doesn't even include any interest yet? That should be illegal. Seriously. Don't use it. I agree with getting a secured card. Or have you even tried for Orchard? They charge an AF, but it's far more reasonable. Link to comment Share on other sites More sharing options...
Moneedshelp Posted January 23, 2008 Report Share Posted January 23, 2008 If it is possible, try to open a secured card with $300 before using your new rewards card. That may not be possible for you right now, but think about saving what you would be paying on the initial fees and wait until you have enough saved up. While it is the goal of most of us to repair old credit and acquire new credit, it just doesn't make sense to spend so much on a card that offers you so little.Patience should rule in this situation. Give it a minute and try for something better. JMHO Link to comment Share on other sites More sharing options...
rmiller0410 Posted January 23, 2008 Report Share Posted January 23, 2008 they only report to tu. i got this when i was desperate. it is paid off and i am thinking of closing it since it is only on tu anyway but it has been open for 18 months so it is my oldest account on my report. Link to comment Share on other sites More sharing options...
cheyenne52883 Posted January 23, 2008 Author Report Share Posted January 23, 2008 Thanks for all your input....I will really think about using this card our not. My credit is awful though and I think this is all I will be getting for awhile... Link to comment Share on other sites More sharing options...
AboveAverage Posted January 23, 2008 Report Share Posted January 23, 2008 Thanks for all your input....I will really think about using this card our not. My credit is awful though and I think this is all I will be getting for awhile...Listen, yeah you'll be paying extortion fees that first month, but then you can pay them online and it posts the day after next (no fee for online payment...fee if you use the phone). I plan on closing it after either the end of this year or sometime next year. It will actually depend on whether I get SERIOUS love with HSBC. I PIF every two weeks with the 660. Between them and Crown Jewelers, TU went from being my worst FAKO to my best. Here's hopin' the HSBC will hook me up with even more lov (OR MAAAYBE some Hooters as they didn't say no flatly). But I'd be lying if I told you 660 did not help my credit, personally. At the same time, that 10 bucks a month is a jip, which is why I may close it after November when I hopefully have gotten enough "better cards". Once my HSBC Platinum MasterCard comes, the 660 will be used for TrueCredit and maybe something else that's 20 dollars a month. Link to comment Share on other sites More sharing options...
cheyenne52883 Posted January 23, 2008 Author Report Share Posted January 23, 2008 That is kind of how I was thinking of using the card... Keep it for maybe a year or so then close it... Link to comment Share on other sites More sharing options...
AboveAverage Posted January 23, 2008 Report Share Posted January 23, 2008 Other than $250...you have nothing to lose providing you do everything else right. GL. Link to comment Share on other sites More sharing options...
myscoresawful Posted January 23, 2008 Report Share Posted January 23, 2008 If you don't have an extra $300 laying around to get the secured, and you need a positive TL to start building your credit, then there is nothing wrong with this card. Just remember to keep it paid down to a minimum each month so that you don't lose points for utility. I have the card as well as a few others that were expensive and some that only have a yearly $39 fee. Don't feel bad about having to start your credit rebuilding journey this way...Good luck! Link to comment Share on other sites More sharing options...
cheyenne52883 Posted January 23, 2008 Author Report Share Posted January 23, 2008 Ok. Maybe I will keep it then... Thanks for all your input. Link to comment Share on other sites More sharing options...
VeVe Posted January 23, 2008 Report Share Posted January 23, 2008 But if you have the money to pay the upfront fees, that means you have the money to open a secured card, perhaps one that reports to all thre CRA's, and that may eventually graduate you to an unsecured card (like BoA). Link to comment Share on other sites More sharing options...
cheyenne52883 Posted January 23, 2008 Author Report Share Posted January 23, 2008 I don't have the money to pay the upfront fees. I plan on paying it off over a couple of months. Link to comment Share on other sites More sharing options...
VeVe Posted January 23, 2008 Report Share Posted January 23, 2008 I don't have the money to pay the upfront fees. I plan on paying it off over a couple of months.Don't take this the wrong way, but I don't think you should have the card then. Why put yourself deeper into debt just to get a rip-off credit card? It's not worth it, no matter how you look at it.Cancel it, save up $300 and get something secured. Link to comment Share on other sites More sharing options...
cheyenne52883 Posted January 23, 2008 Author Report Share Posted January 23, 2008 I will have to look into that. Link to comment Share on other sites More sharing options...
AboveAverage Posted January 23, 2008 Report Share Posted January 23, 2008 I will have to look into that.VeVe is right...do not get the card if you don't have the money to pay the upfront fees. The interest rate alone on the 660 will murder you (which is why I paid). Also, I personally would have gotten a secured card had I known that in addition to depositing the money I would have ALSO made future deposits to increase the limit. By the time that info came to me, I had already dumped the $250 into the 660. But if you don't even have that (which I assumed you did), then do not get it. I have yet to pay finance charges to those South Dakotans (knocking on head...I mean wood ). Link to comment Share on other sites More sharing options...
cheyenne52883 Posted January 23, 2008 Author Report Share Posted January 23, 2008 Ok... I already called and activated the card so I will what I can do to cancel it.What are some suggestions for good secured cards? Link to comment Share on other sites More sharing options...
Krash Posted January 23, 2008 Report Share Posted January 23, 2008 OMG, SEND IT BACK. Take some cash and open up a secured loan at a bank or credit union, that will help out, or u can do maybe a BOA secured, or orchard secured! Those are the only two that i know are good. Well I dont' know i haven't owned one but from what I read! Good luck, we just hate to see u pay all those fees for nothing.. Link to comment Share on other sites More sharing options...
AboveAverage Posted January 24, 2008 Report Share Posted January 24, 2008 As long as you made no charges, CALL them and tell them you want to cancel! THEN also say you want to cancel in writing and make sure you cut the card up and then send it.As for secured cards:Orchard Bank (HSBC)BoA (Bank of America)Just to name a couple. Link to comment Share on other sites More sharing options...
AboveAverage Posted January 24, 2008 Report Share Posted January 24, 2008 OMG, SEND IT BACK. Take some cash and open up a secured loan at a bank or credit union, that will help out, or u can do maybe a BOA secured, or orchard secured! Those are the only two that i know are good. Well I dont' know i haven't owned one but from what I read! Good luck, we just hate to see u pay all those fees for nothing..The OP doesn't have $250 for the sub-prime card...what cash does she have to get a secured loan? Minimum she will need is $500 Link to comment Share on other sites More sharing options...
Recommended Posts