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Amalgamated Bank Gold MasterCard® Secured
Issued by Amalgamated Bank of Chicago |
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| Total Posts: 5 |
Average Rating:
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Category: Secured |
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Showing 1 - 5 of a total of 5 Commentaries |
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1-5 |
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| "Looks good on the service" |
I chose this card because it was one of the few secured cards that offered an awards system as well as gold card features (example rental car collision insurance) and as well as good sized credit limit.
Here are my frustrations with this card and this bank. They put 5 day holds on all payment checks you make. I asked if they put holds on money orders and certified checks and the answer was yes. I think this is excessive when they already holding $5,000 security deposit on my account.
My next thought was to set up a direct debit or bank wire so I wouldn't have to endure a hold on the account. Unfortunately they don't except payment by this methods.
They also don't have anyway to access your account on the Internet.
Thirdly the awards. I didn't receive any information about the awards in my introductory package. When I called customer service about it they said I said I had to send a fax to them stating my wish to be in the awards program. Could I just sign up over the phone. Nope. It seems like they are going out of their way to make it difficult to sign up for awards. I have already lost 6,000 miles because of this.
The basic premise of the card is OK. Gold card features, $5,000 credit limit, awards when you go out of your way to sign up. I guess it does the trick as long as you don't mind your checks being held, and a lack of modern payment systems, internet, bank debit etc.
I can't imagine staying with them after I get my credit established. By the way I need a secured credit card because I am new to USA and don't have a credit history here.
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| Most attractive feature: $5,000 credit limit |
| Least attractive feature: They put holds on all checks |
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| Posted by: Guy |
| Date: 3/23/2005 |
Recommend?  |
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This person does not recommend this card.
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| "very good" |
| well i will use this opportunity to subcribe and add free motage rate to my credit |
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| Most attractive feature: good |
| Least attractive feature: least bad |
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| Posted by: segun |
| Date: 1/30/2005 |
Recommend?  |
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This person does recommend this card.
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| "Good and Bad" |
All contacts with customer service were not stellar but by no means were there any problems either. Don't appear to have the most advanced CRM systems but they are helpful and try to do a good job.
Be very careful that the great rate and ability to go high is Balanced against the fact that the card is reported to the credit reporting agencies as a Secured Card. Also, the rate is a Variable rate and is set when you sign up but can(and probably will) trend higher each month.
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| Most attractive feature: Can get more then $5000 charge capability |
| Least attractive feature: Reported as a Secured Card |
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| Posted by: K. W. |
| Date: 1/21/2004 |
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This person does not recommend this card.
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| "Credit Card Review" |
| Impressed by the way checked to see that I was using the card when I had not used one particular card for some time. It is reassuring that they monitor the situation for potential irregularities. Received my credit card the other day. Looks very nice in my wallet. They are very helpful with any questions you ask them. I feel at ease and i feel i can trust them to hold my money safely. I recommend! |
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| Most attractive feature: WA |
| Least attractive feature: WA |
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| Posted by: nickboc68 |
| Date: 4/12/2003 |
| Recommend? |
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This person does recommend this card.
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| "Amalgamated Bank Gold Mastercard" |
| This is a very expensive card to obtain with a hefty minimum deposition of $5,000. The interest rate for purchases and cash advances is just under 10% which is very good for cardholders who carry a balance. However, there is an optional reward program that allows cardholders to earn frequent fliers miles along with other travel options. The most attractive feature of this card is the low APR for purchases and cash advances with no application or participation fees. |
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| Most attractive feature: Optional reward program |
| Least attractive feature: The worst feature is the minimum deposit of $5,000 needed to obtain the card |
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| Posted by: Catherine |
| Date: 12/9/2002 |
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This person does not recommend this card.
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Showing 1 - 5 of a total of 5 Commentaries
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1-5
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