With the year coming to a close, it might be interesting to take a look at some of the worst credit cards for 2007. I ran across an article some time ago that listed the supposed five worst credit cards, though it didn’t provide exact reasons for these particular cards being listed. Rather, it just stated in general terms that these companies had a reputation for being unforgiving and for having rude customer service. They were also listed for having poor identity theft measures in place and for having a tendency to overextend credit to their cardholders.
I currently have a Bank of America credit card that’s been in my wallet for a while now. I rarely use it because I have other cards that I simply find better for my purposes. B of A did increase my credit limit pretty quickly, but I do have very good credit and a pretty decent income so I don’t believe that the credit limit increases in my particular case were inappropriate. Some might say, however, that this supports the notion that the bank leans toward an overly generous credit limit policy, but in my case, I don’t think it was out of bounds.
I must say, however, that my customer service experiences with Bank of America have been quite positive. The company had been sending me checks for some time with low interest rate offers. When my spouse and I decided to purchase a truck, I only had expired checks left. I called customer service and asked if I could still use one of the expired checks and still get the great rate. He told me that I could but he reminded me that I’d have to pay a fee for the transaction, which I already knew. I appreciated that he reiterated this important point with me.
Later, I got another card offer from Bank of America for a credit card with rewards. My current card didn’t have a rewards component, which was part of the reason why I never used it, truth be told. I called customer service and asked if they could add the rewards component to my existing card so I wouldn’t have to cancel my existing card and apply for the new one. This was important because I didn’t want to lose the account and particularly the “aging” of the credit history on the account which I had built up over a long period. The customer representative was very accommodating and switched it out without a problem.
My experiences with Discover are not quite as extensive, and while limited, I’ve had nothing but good experiences with them, so far. They’ve always been hospitable when I’ve called, their website is easy to use, and I get some fairly generous rewards with their card.
Additionally, I was impressed with the extra security measures that they took when I applied for the card. In fact, they called me and had me verify my application before they would finally approve me for the card and send it to me.
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