Imagine Card Mastercard Credit Card Ripoff Atlanta Georgia

I have had my Imagine Card for almost a year now and my credit limit is a little over 600 dollars! I have always made my payments on time and every 3 months, just like they said, they give me a credit line "increase" That is to say that they charge me a fee in and raise my limit by the same amount. I had a Rewards660 (Indigo) card for 2 years and my credit limit is only 350 and I've never been late. I am 20 and got both cards to build my credit. My score used to be in the mid 500s and now, when I pay down my balances, I will have a 700+ credit score. It was 715, but then it went down abit due to usage and some recent credit I got. I will admit that I have had some bouts with Imagine Card, as the reps don't know how to handle any complicated matters, but my credit profile is proof that they DO build our credit.

The great think about Imagine is that it reports to all three credit bureaus and not just one like other "sub-prime cards." Frankly I don't like the fact that I have to pay to get my credit line, but at the same time, it's like a secured card that still reports as a revolving unsecured card.

I don't have much to say negatively about the company except for the CSRs and their depressing hold music lol, but I will say that if you use your card for gas purchases, expect it to become frozen until you call them up and verify that you made the purchases and that your card has not been stolen. This just happened to me. Also make sure you NEVER bounce a check to them or every time you pay with a check, they will freeze your account until the check clears. There was some confusion over a payment I had sent in on a bank account that was closed before the check cleared and this happened to me, however they did clear it up and reverse all the fees.

Also if you make a payment online and it says that the site is down for whatever reason and wait a few minutes before trying again, CALL THEM and make sure or else you will double post payments and it's nearly impossible to get them to cancel one of the charges. It will post one and then again 10 days later. They are not bright about stopping it and if you cancel it through your bank, they will charge you fees the same as if it was a "returned check." Thankfully I was able to get my "check writing integrity" back, but that was a 2 week 10 hours total ordeal.

The bottom line is this: You are receiving a card from company that is willing to give you credit. Based on your score, the likelihood of you defaulting and screwing up is substantially greater than if you had a 700+ credit score. With that in mind, these companies have to protect themselves and make sure they are not loosing money. The easiest way to do this is to "secure" the card with fees. That way if the customer is late on their payments or whatever, they are not out any money. They profits come from the late fees. DON'T GIVE THEM AN EXCUSE TO MAKE YOU LATE!

Hope this helps, this goes for any "sub-prime" card that follows this format.