Interest rate - 3% cash back = saving $$?
Written: Mar 12 '01 (Updated Sep 03 '02)
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Pros: easy to read account summaries, cash back program
Cons: limitations on the cash back program, high interest rate, slow customer service
The Bottom Line: No longer offers cashback - what's the point of using this card? It sucks.
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| bluefishie's Full Review: Student Visa/Mastercard (The Associates) |
I signed up for this credit card back in the days of being an undergrad, and have had this card for almost three years now. I signed up because I'd never seen a cash back program giving 3% cash back before. Although the interest rate was high, I figured that all interest rates on student credit cards were high and I might as well sign up for a card that gave cash back instead of a free t-shirt or coffee mug.
APPROVAL
I was approved in no time.
CREDIT LIMIT
The more you spend, the higher they raise your credit limit. Here, this company was more willing to than any of my other cards (i.e. Citibank).
This is both a blessing and a burden. There have been situations where I've needed to get to the maximum of my credit limit, but there have also been situations where I needed to stop using a credit card to take control of my expenses.
CASH BACK PROGRAM
You have to carry a balance from month to month to trigger this program. In other words, you can pay off your balance except for a penny and it'll trigger the program. This may be a drawback for those of you who pay off your balances, but I can't remember when I paid off a balance in full in college. So this limitation wasn't really a problem with me until I graduated and could pay off my balances.
DRAWBACKS
I had to call and e-mail the company every year to get my cash back check. They always insisted that they mailed it to me. But I know that almost anyone who sees a check recognizes that it's a check, and would cash it immediately. I have repeatedly e-mailed this company asking for them to make sure I get the check, but every year I must e-mail the same department and ask the same question.
OVERALL
Watch your spending and keep the e-mail of their customer service department in your address book. They're happy to mail you a check, but you have to take charge and ask for it. Every year.
UPDATE AS OF 9/3/2002
Associates has been bought out by Citibank, and the card no longer offers cashback. And I don't think they retrospectively grant it either. Get rid of this card because there are other cards you can use to get benefits (ie Citibank offers its only Platinum card with 1% cashback).
Recommended:
No
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Epinions.com ID:
bluefishie
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Location: Los Angeles, CA
Reviews written: 99
Trusted by: 5 members
About Me:
Brrrr!!! It's cold for LA!
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