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Over 1000 Windows 95 Programs (Microforum) (Disc 2).iso
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The E-Z Bank List
+-------------------------------------------------------------------------------------+
This section deals with information on how to get as many
credit cards as needed. (remember, use to INVEST only!)
+-------------------------------------------------------------------------------------+
The best way to get excellent credit is by collecting
Master Cards and Visas from different banks. There are three
types of Visa/Master Cards (debit, secured, and unsecured) but
we are only going to concentrate on two for this program.
The first one is a secured credit card. To get this
card you have to open a savings account with anywhere from
$250 to $5000 in the account from the bank issuing the card.
If you have no credit or your credit is poor these cards are
easier to get. They are worth the hassle because you are
building very good credit by using them. You have instant access
to your cash, and within a year they become an unsecured card!
Later in this document is a list of banks that offer secured
credit cards.
The second is an unsecured credit card. You can obtain
these easily if your credit is pretty clean and you follow the
loan application techniques in this program. These are the
best, by far, for our investing philosophy because you don't have
to back them up with any cash and they allow you to generate large
sums of money very quickly!
You need to keep track of each card you get. This is
easiest done by starting a manila file folder on each card
separately. All the letters, bills and statements for the cards
should go in each folder respectively. Depending on your
present financial situation and/or credit ranking you can
choose which companies you want to apply to, for secured or
unsecured credit cards. I have compiled a list of companies in
this section that you may choose from.
Here is some information that you should know and things
you should do to get a Master Card or Visa:
1. Get your credit cleaned up best as possible and add any
positive statements to your file.
2. If you don't have any credit use one of the methods
discussed in this program to start getting some.(ie.
instant credit card, secured Master Card or Visa, etc.)
3. The legal forms included with this program should be used to
improve, add, or remove information to your credit file.
4. If you currently have good credit then you should apply for
unsecured credit cards.
5. If your credit file is in really poor condition then create a
new file while you're cleaning up the original one.
6. You can turn your secured credit cards into unsecured cards
by writing a request letter to the bank after six months.
7. If you plan to use the credit income philosophy discussed in
this program then you should start collecting as many
unsecured credit cards as possible.
8. When applying for unsecured credit cards apply for least 10
cards at the same time.
9. When the banks processes your credit applications they will
make an inquiry to the credit bureau. All credit inquiries
show up on your credit file. It will show if an account was
opened up from that inquiry or if the credit request was
denied. Make sure you have the credit bureau merge all the
accounts that "match-up" to the inquiries that created them.
There is a special form in the "Credit File Repair" section
of this program. Also remove all inquiries that do not
produce an account. (legal forms for this are available, see
the Introduction)
10. Once you have your first 10 then apply for 10 more!
11. It's a good idea to reapply to the banks that turned you
down as your credit improves.
12. As you start to receive credit cards use the cash advance
option. Use the cash to pay some bills and pay back the
money you were going to use for the bills. I know this
sounds crazy but the bureaus' computer will show good credit
activity and this will really help to build your credit.
13. Request an increase of credit on the cards every year.
Ask for at least 50%-100%. (ie. if you have a card with a
$500 limit ask for it to be increased to $750 or $1000.)
14. Repeat these 14 steps over and over until you have at least
a $25,000 collective credit line from all your cards.
Once you reach this point you are ready to start making
some money by using the Credit Income ideas contained in
this program!
The following are lists of different credit card companies
that are eager for business.
** The information conatined here is dated and some of the comapnies
may no longer be in business. This list is was part of a
previous version of this program and is included As-Is. Please
use the list for any useful information it may contain. We apologize
if there is any outdated or inaccurate information. However, the
list of companies in the 'User Data' section is up to date.
Secured Credit Card Companies:
These companies are easy to qualify for and are a great place to
start if you do not have any credit.
AMERICAN PACIFIC BANK ASSOCIATES NATIONAL BANK
P.O. Box 19360 P.O. Box 15487
Portland, OR 97280-0360 Wilmington, DE 19885-5487
800-879-8745 800-368-0208
Min. Savings: $400 Min. Savings: $250
Int. Rate: 18.9% Int. Rate: 18.9%
Ann. Fee: $30 Ann. Fee: $45
Grace Prd.: 30 day Grace Prd.: 25 day
Savings Int.: 5% Savings Int.: 4.5
BANK OF HOVEN BANK ONE
P.O. Box 5117 P.O. Box 450
Sioux Falls, SD 57117 Lafyette, IN 47902
800-777-7735 800-395-2555
Min. Savings: $380 Min. Savings: $500
Int. Rate: 21% Int. Rate: 19.8%
Ann. Fee: $39 Ann. Fee: $35
Grace Prd.: 25 day Grace Prd.: 25 day
Savings Int.: 4.5% Savings Int.: 3.75%
CENTENNAIL CENTRAL NATIONAL BANK
P.O. Box 5063 P.O. Box 609
Sioux Falls, SD 57117-5063 Mattoon, IL 61938
605-330-8686 800-876-9119
Min. Savings: $250 Min. Savings: $500
Int. Rate: 13.9% or 21% Int. Rate: 8%
Ann. Fee: $95 or $45 Ann. Fee: -none-
Grace Prd.: -none- Grace Prd.: 25 day
Savings Int.: 4.5% Savings Int.: 3.25%
CITIBANK(South Dakota) PATRIOT N.B. STUDENT SECURED
P.O. Box 6218 12120 Sunset Hills Rd.
Sioux Falls, SD 57117 Reston, VA 22090
800-743-1332 703-471-0900
Min. Savings: $300 Min. Savings: $150
Int. Rate: 19.8% Int. Rate: 12%
Ann Fee.: $20 Ann. Fee: $15
Grace Prd.: 25 day Grace Prd.: 25 day
Savings Int.: 6% Savings Int.: 3.1%
* You can call or write these banks and ask for a credit
application for their secured Visa/Master Cards.
* Must be 18 years old to apply.
Unsecured Credit Card Bank List.
These you should apply to if you have established good credit,
otherwise you will be turned down frequently.
LEGEND: F=Fixed V=Variable MC/V=MasterCard/VISA Ann.=Annual
+--------------------------------------------------------------------------------------------------------+
Bank Name
Card Type | Int. Rate (V ot F) | Ann. Fee | Grace Prd.
Phone Number
+--------------------------------------------------------------------------------------------------------+
FIRST CONSUMER BANKCARD CHARLES J. GIVENS ORGANIZATION
MC/V | 6.9%V | $29 | 25DAY MC/V | 7.75%V | $37.50 | 25DAY
800-952-3388 800-284-4082
FEDERAL SAVINGS BANK WACHOVIA
MC/V | 7.92%V | $33 | 25DAY MC/V | 8.9%V | $39 | 25DAY
800-374-5600 800-241-7990
CONSUMER NATIONAL BANKCARD OAK BROOK BANK
MC/V | 9.9%V | $20 | 25DAY MC | 10.4%V | $20 | 25DAY
800-862-1616 800-536-5000
PEOPLE'S BANK OF BRIDGEPORT BANK OF MONTANA SYSTEMS
MC/V | 11.5%F | $25 | 25DAY MC/V | 11.75%V | $19 | 25DAY
800-426-1114 800-735-5536
THE BANK OF NEW YORK AMALGAMATED BANK OF CHICAGO
MC/V | 11.9%V | none | none MC | 12%V | none | 25DAY
800-942-1977 800-356-6464
AFBA INDUSTRIAL BANK USAA FEDERAL SAVINGS BANK
MC/V | 12.5%V | none | 25DAY MC/V | 12.5%V | none | 25DAY
800-776-2265 800-922-9062
FIRST OF AMERICA CHOICE
MC/V | 12.9%V | none | 25DAY MC/V | 13.4%V | $20 | 25DAY
800-423-3883 800-733-2222
BANK ONE, Colombus, N.A. AMERICAN EXPRESS/CENTURION BANK
MC/V | 13.9%F | $25 | 25DAY Optima | 14.25%V | $15 | 25DAY
800-388-0225 800-435-2017
UNION PLANTERS BANK THE NATIONAL BANK OF SAVANNAH
Visa | 14.5%V | none | none Visa | 14.88%F | $15 | 25DAY
800-628-8946 315-365-2896
FIRST NATIONAL BANK OF OMAHA DISCOVER CARD/GREENWOOD TRUST
MC/V | 14.9%V | $20 | 25DAY Discov | 14.9%V | none | 25DAY
800-688-7070 800-DISCOVER
HOUSEHOLD BANK, N.A. FIRST SIGNATURE BANK & TRUST
MC/V | 15.4%V | none | 25DAY Visa | 15.4%V | $20 | 25DAY
800-477-6000 800-522-1776
AT&T UNIVERSAL CARD SERVICES HARRIS BANK
MC/V | 15.9%V | $20 | 25DAY MC/V | 15.9%V | none | 25DAY
800-662-7759 800-445-4631
CRESTAR BANK FIRST NATIONAL BANK
MC/V | 15.9%F | $20 | 25DAY MC/V | 15.96%F | $15 | 25DAY
800-368-7700 708-754-3202
THE ABBOTT BANK GM CARD (Household Bank)
MC/V | 16.3%V | none | 25DAY MC | 16.4%V | none | 25DAY
800-999-6977 800-947-1000
FIDELITY NATIONAL BANK FIRST OF AMERICA BANK
MC/V | 17.9%F | none | 25DAY MC/V | 18%F | none | 25DAY
800-753-2900 800-423-3883
FORD/THE ASSOCIATES NATIONAL THE MORE CARD
MC/V | 18.4%V | none | 25DAY MC/V | 19.8%F | none | 25DAY
800-638-FORD 800-453-2017
ARK. FEDERAL C.C.SERVICES AMERICAN GENERAL FINANCIAL
MC/V | 8%V | $35 | none MC/V | 19.8% | none | 25day
800-477-3348 800-453-2017
- Must be 18 years old to apply -