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Yes they are, both store cards and a biz card (I'm only aware of one biz card though they might have others). Most of their products do have crappy terms.
Which store cards are backed by CIT group? I know GE Capital and Citi group do a number of store cards, but I've never seen one by CIT group.
Was not able to find any information about business cards on their site, but maybe they stopped recently or I did not look hard enough.
Location: 23.7 million to 162 million miles North of Venus
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Quote:
Originally Posted by user_id
Which store cards are backed by CIT group? I know GE Capital and Citi group do a number of store cards, but I've never seen one by CIT group.
Was not able to find any information about business cards on their site, but maybe they stopped recently or I did not look hard enough.
A few of their cards are .. Dell, Newegg (Preferred & Bill Me Later), Fingerhut (eww), etc...... there are more but I don't remember offhand what they are and I haven't bothered to look them up for this answer either.
The biz card:
Platinum America Card (offered by invitation only)
The only CIT card that I have is the Newegg Preferred, which I like. I don't remember the interest terms offhand, I would have to pull them out of my files. But, since I only use the card for the 0% interest shopping, that Newegg always offers, the interest terms mean little to me. Plus, that card is a hidden trade.
Well it seems y'all are mistaken as more and more C/C companies are indeed doing whatever they like to 'deadbeats'(the term C/C companies use I believe) like yourselves,such as closing accounts.
Not mistaken at all!
In fact, Discover raised my limit and AMEX tripled my husband's.
A few of their cards are .. Dell, Newegg (Preferred & Bill Me Later), Fingerhut (eww), etc...... there are more but I don't remember offhand what they are and I haven't bothered to look them up for this answer either.
I never realized "Bill me later" was CIT Group, but then again I really don't use these sorts of things either.
I wonder what will happen to this stuff if they file for bankruptcy.
Well it seems y'all are mistaken as more and more C/C companies are indeed doing whatever they like to 'deadbeats'(the term C/C companies use I believe) like yourselves,such as closing accounts.
The CC companies are not closing accounts of costumers that are profitable. The people that don't carry balances that are seeing their cards closed (or limit reduced) are the ones that rarely use the card. If you have a $10k limit, but you're only spending $500 a year why should the card company bother with the added liability? In the hopes that you get into financial trouble and use the entire line and go bankrupt?
Anyhow, none of my cards have been closed, nor have my limits been cut. I have recently applied for a new card too without any problems.
Well it seems y'all are mistaken as more and more C/C companies are indeed doing whatever they like to 'deadbeats'(the term C/C companies use I believe) like yourselves,such as closing accounts.
Actually I believe the term deadbeat would be most commonly applied to say someone who isn't mature enough to properly manage their finances hence often times not paying their bills on time. Some are even so irresponsible that they end up bankrupt.
You wouldn't happen to know anyone like that would you?
actually i believe the term deadbeat would be most commonly applied to say someone who isn't mature enough to properly manage their finances hence often times not paying their bills on time. Some are even so irresponsible that they end up bankrupt.
You wouldn't happen to know anyone like that would you?
Location: 23.7 million to 162 million miles North of Venus
23,563 posts, read 12,535,636 times
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Quote:
Originally Posted by user_id
I never realized "Bill me later" was CIT Group, but then again I really don't use these sorts of things either.
I wonder what will happen to this stuff if they file for bankruptcy.
I have no real use for BML either.
I don't know what will happen to their card portfolios. It will probably be similar to what other companies do when they are in that position. They may possibly hang onto them, depending on the bankruptcy, or they may sell or trade them to another company. The co-brand companies will have to have someone service their cards. Or else stop doing transactions on their own credit, which more than likely won't happen for most.
Quote:
Originally Posted by user_id
The CC companies are not closing accounts of costumers that are profitable. The people that don't carry balances that are seeing their cards closed (or limit reduced) are the ones that rarely use the card. If you have a $10k limit, but you're only spending $500 a year why should the card company bother with the added liability? In the hopes that you get into financial trouble and use the entire line and go bankrupt?
Anyhow, none of my cards have been closed, nor have my limits been cut. I have recently applied for a new card too without any problems.
I'm sure profitable customers are getting hit too. It may not totally be dependent on how much or how little they spend, or other widely known factors. It's probable that some, or many, creditors are skating as close to the edge of redlining as they can.
i agree with OP, but i dont think credit cards and easy credit are the wave of the future. paying for things instead of signing for things will begin to affect our purchasing decisions. how much would i pay for a car if i had to pay cash would i buy new or used. decisions would certainly change. btw my last & current car were purchased used and cash from my mechanic.
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