|
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. Click here for all Rates, Fees & Terms.
Bad Credit? Low FICO Score? No FICO score? No Problem! Put the Power back in your Hands. Get a Visa® card.
- No Fee Credit Limit Increases*
- $75 Increments
- As Often as Every 3 Months
- Automatic Grant Upon Qualification
- $300 Starting and $2,000 Maximum Credit Limit
- Fast Online Response
- Monthly Reporting to Major Credit Bureaus (TransUnion & Equifax)
- FREE Online Account Access
- FREE Online Payments
Card Highlights:
Credit and Approval Criteria. You must be at least 18 years of age, have and continue to have monthly gross income of $1,000 or more, permanently reside in and have a valid address in the United States, and have a valid social security number. The Rewards 660 program is not available to New York or Wisconsin residents. Current Rewards 660 cardholders are not allowed to open a second account. We reserve the right to decline your application if you have applied for a Rewards 660 account within the last 90 days or if you formerly had a Rewards 660 account. The Rewards 660 program does not offer business accounts.
Credit approval may be based on a review of a current credit bureau report and other information bearing on your creditworthiness. As part of our commitment to prevent identity theft and to insure our ability to contact you about application and account-related matters, we require that you provide us with valid telephone contact information and a valid e-mail address. To complete the application and/or activation processes you will be required to demonstrate that the telephone and e-mail contact information you provide when you apply for a Rewards 660 account is both valid and a reliable way to contact you. You may be asked to provide additional information to permit us to confirm your identity and contact information, and to determine whether you meet our approval and underwriting criteria, minimum qualifications and anti-fraud policies. All of the information you provide in your application must be complete and accurate. Your credit history, as well as inaccurate or unverified information, may result in the following: (1) denial of your application; (2) delay to or denial of your ability to activate your account; and (3) closure of your account.
Credit Limit Increases. You will be eligible to receive $75 increases to your Credit Limit each time you meet all of the following requirements: (i) for three (3) consecutive months you make on-time monthly payments of at least the minimum payment (no calendar month will be counted twice) and stay within your credit limit; (ii) and you keep your Account current and within the Credit Limit until the Credit Limit increase is granted. Each increase will be automatically granted within approximately thirty (30) days after the end of the three (3) month qualifying period if all eligibility requirements have been met. There is no fee for a Credit Limit increase. The maximum credit limit is $2,000.
Initial Credit Limit. Your starting credit limit will be $300.00 and the following fees will be billed to your first month's statement: Annual Fee of $48.00, a one-time Account Set-Up Fee of $97.00, a one-time Program Fee of $95.00, and monthly Participation Fee of $10.00. Your available credit after these charges will be $50.00 at card issuance.
This program was developed for people with histories of bad credit, bankruptcy or no credit. Having "bad credit" generally means that you have a FICO® score below 660. (The "FICO score" is your credit score.) Statistics show that people with no credit histories or bad credit histories are considerably more likely to default on their financial responsibilities than people with higher FICO scores. It is more risky, and consequently more expensive, to issue credit cards to people with no or bad credit. The fees are intended to protect against losses that could result from defaults. This card is probably not a good product for you if you have good credit.
FAQ:
Q: Do I have to pay $250 of fees in every twelve month period that I have your credit card?
A: No. A $48 Annual Fee is charged once for every twelve month period that your account is open after your card is issued. The first Annual Fee will be charged to your account when your account is opened. Subsequent Annual Fees will be charged to your account on each anniversary of the account opening. The $97 Account Set-Up Fee and the $95 Program Fee are one time charges on each open account. The monthly Participation Fee is an annual fee that is payable at the rate of $10 per month during every month that your account is open or until your outstanding balance has been paid in full if your account is closed.
Q: Am I guaranteed to receive a credit card?
A: No. You must meet program minimum qualifications and pass our credit underwriting and anti-fraud policies. We must also verify your e-mail address and telephone contact information and will take steps to do so after you have submitted your application. Credit approval may be based on a review of a current credit bureau report and other information bearing on your credit worthiness. Your credit history, as well as inaccurate or unverified information, may result in the following: (1) denial of your application; (2) delay to or denial of your ability to activate your account; and (3) closure of your account.
Q: Does the Rewards 660 card require any security deposit?
A: No. It is an unsecured credit card.
Q: Will you report my account to credit bureaus?
A: Yes, we will report your payment history with us, both good and bad, to one or more major credit bureaus. Because we will also report your failure to make timely payments, that failure could have a negative impact on your credit rating and your ability to obtain credit in the future.
Q: What action will you take if I am approved for the Rewards 660 Visa® credit card but I do not activate it or if I do not use it and do not make a payment?
A: We will close your Account and reverse all charges if you do not activate your Account within fourteen (14) days following receipt of your Rewards 660 Visa credit card. If you activate your account, we will cancel your Account if you do not use it and do not make a required payment.
Q: Will you raise my interest rate if I make a late payment or go over my credit limit?
A: No. Unlike some other credit card issuers, we do not raise your interest rate if you default in those ways. We do impose a late fee if you do not pay the required amount on time, and an over-limit fee if your account balance exceeds your credit limit. See your cardholder agreement for a more detailed explanation of these fees.
Q: Will you raise my interest rate if I make a late payment on any of my other bills?
A: No. Some credit card companies do, though, so it is important that you carefully review the terms and conditions governing any other credit cards that you have.
Q. Can I get cash advances?
A: Yes, but you may not obtain any cash advances within the first 90 days after your account is opened. Thereafter, you may obtain cash advances up to a maximum of $25 per day if you have available credit and if your Account is not and has not been past due or over limit for at least ninety (90) consecutive days. You may not obtain a cash advance if it will cause your account to exceed the credit limit. Total cash advances may not exceed one-half of your total credit limit. Each time you obtain a cash advance, we will impose a transaction fee of $5.
Q. How do I apply?
A: It's easy, and takes just a few minutes. Simply go to the online application.
See web site for complete terms & conditions
© 2001-2008 Credit After Bankruptcy All rights reserved. TOP HOME
|
