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Credit Cards...Do You play your cards Right????

 
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dlcole



Joined: 10 Jan 2004
Posts: 38

PostPosted: Mon Mar 08, 2004 12:55 pm    Post subject: Credit Cards...Do You play your cards Right???? Reply with quote

A friend of mine recently applied for a Mint card. She did a balance transfer from Barclaycard....but Mint (who recently changed from Royal Bank of Scotland also opened a Royal Bank of Scotland card too (with out her permission ) and "created" a balance transfer as well for an amount she did not authorize. When she asked Mint to provide her with a copy of the supposed application form which they said they had received, they refused as they said they could not provide this under the privacy act!!! How did they proceed with all of this???? How and why did they go ahead with a card and a balance transfer she did not ask for??? And if she did not watch her finances closely, she would have increased her debt by 900 (the amount wrongly transfered from an account she did not authorize.
Do you ever wonder what happens to all this data you give when you apply for a card.
Here is a tip how to save money and play those cards right. First make sure the card has an interest free period. Then get a good rate for balance transfers. DO NOT put balance transfer information on the application. Do this AFTER you receive the card. Then transfer your balance. Unless the card has a 0% on purchases, DO NOT use this card for anythig other than balance transfers. Make a note in your diary 20 days before the offer of 0% ends and transfer the balance off. If you have not managed to get another good deal, and you are a bit short of cash, just keep balance transfering from card to card until you get another 0% card. Then start all over. You will not pay off any debt, just move it around, but you will not pay any interest either. Watch out as some cards charge a small amount for balance transfers. Always call the company first, see what thy have to offer you and check out any charges there may be, then...go for it!!!
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