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Credit cards - current rates - Brief Article - Statistical Data Included
Joan GoldwasserWhat happens when a company with a bad reputation takes over your card?
Wachovia Bank's 2.8 million MasterCard and Visa customers can be forgiven if they're unsettled by news that their accounts have been sold to First USA, a firm that has long been a target for consumer complaints and lawsuits over lousy service and unfair late fees. If you pack a Wachovia card, you should follow Ronald Reagan's admonition about the Soviet Union: Trust, but verify.
An official at Wachovia--the bank's name will remain on the card--was candid about First USA's past problems but said improvements in its customer service should mean Wachovia cardholders won't suffer any ill effects. Monthly statements will be the same, and you must be notified of any changes in interest rates or billing rules. Read any enclosures in your monthly statement carefully.
Low-interest premium cards
Best if you carry a balance
RECENT CASH-ADVANCE ANNUAL
ISSUER RATE(*) RATE/FEE(c) FEE
Pulaski Bank & Trust (G) 7.99% 7.99%/none $50
USAA Savings Bank (G,P) 9.00 9.00/none 45
Simmons First National (P) 9.50 9.50/none 50
LATE/ TELEPHONE
ISSUER OVER LIMIT NUMBER
Pulaski Bank & Trust (G) $20/$20 800-980-2265
USAA Savings Bank (G,P) 20/none 800-922-9092
Simmons First National (P) 20/none 800-636-5151
No-fee premium cards
Best if you usually pay the balance each month
RECENT CASH-ADVANCE GRACE
ISSUER RATE(*) RATE/FEE(c) PERIOD
Wachovia (G) 9.40% 19.99%/4% 20 days
Chase Manhattan Bank (G,P) 9.65 19.55/3 22 days
Security First Network (G) 9.90 9.90/2 25 days
LATE/ TELEPHONE
ISSUER OVER LIMIT NUMBER
Wachovia (G) $29/$29 800-842-3262
Chase Manhattan Bank (G,P) 29/29 800-413-5661
Security First Network (G) 15/10 800-736-2321
Rebate cards
Best of the air-miles cards (for travel on all major airlines)
RECENT CASH-ADVANCE ANNUAL
ISSUER RATE(*) RATE/FEE(c) FEE
Visa MilesOne (P)([dagger]) 9.90% 9.90%/2.5% $19
USAA Eagle Points (P) 13.50 13.5/none 49
Chase Travel Rewards (P) 15.49 19.55/3 25
MILES NEEDED TELEPHONE
ISSUER FOR TICKET NUMBER
Visa MilesOne (P)([dagger]) 25,000 800-548-4593
USAA Eagle Points (P) 25,000 800-793-8990
Chase Travel Rewards (P) 25,000 800-413-5661
(*) As of April 6; rates are adjustable, often tied to the prime rate.
(c)Cash advances often nave no grace period; additional fees may be
charged. (G) gold card (P) platinum card ([dagger]) Pays airline miles
or, balance transfers up to limit. SOURCE FOR LOAN RATES
AND CREDIT CARDS: Bankrate.com. N. Palm Beach, Fla.
COPYRIGHT 2001 The Kiplinger Washington Editors, Inc.
COPYRIGHT 2001 Gale Group
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