Mid America Bank & Trust Company Credit Card Reviews
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Title: So Far So Good...
Date Reviewed: 2015-01-16 23:58:49 | Recommended?: Yes
Review: I just obtained this card on January 15, 2015, applied at the beginning of the month, so about a two week turnaround. This card is issued by Mid America Bank and trust, NOT Plains Commerce bank like it used to be...It was instant approval for me when I applied. It is similar to my First Premier, but not quite as many fees. There is an $89 processing fee to open the account, and a $75 annual fee year one. Year 2 its drops to $48, and a $6.25 monthly participation fee will start. Online access is free, unlike First Premier. I have paid both fees, so I have the full starting credit line of $300 available to me. I paid both with my debit card, there are no delays with available credit this ways. Terms do state payments with non-guarantee funds could delay available credit up to 14 days. You can register the account at myccpay.com, and pay with debit card there. My payment was available the next day. This card after 6 billing cycles you can request a CLI, and that is for free, I like that, so perhaps the card can grow over time. So far I like it, and obtained it to rebuild my poor credit. No cash advances for the first 90 days, after that, half of the credit line is available for cash. APR is 29.99%, so obviously a PIF card. Hope the review helps someone. It was a little expensive to obtain, but that is the price of poor choices in the past. So far, I am satisfied with it...
Title: Not A Good Card...
Date Reviewed: 2015-03-16 20:34:00 | Recommended?: No
Review: I have had this card since July 2014. It was a pre-approved offer I received in the mail for unsecured $500 limit. They also have a partially-secured version, as my husband has that one. The same limit, $500, but he had to put up a $50 security deposit first, which we did, but my card is totally unsecured. There was no processing fee, but the first year annual fee is $125, so you start with $375 available. Year 2 the annual fee is $96, and a $10 monthly participation fee kicks in as well. I am not sure I will keep the card a second year. It is just so expensive. APR is 29.99%, so you can never carry a balance. No cash advances for the first 90 days, after that you can request a PIN. They have real-time internet access to check balance and available credit, and make online payments. The thing I absolutely HATE is the 7 day hold on my payments. I could see it if you were a new customer, but I've had the card a while now, and that has not changed. The payment does post the next day, but you will not have access to those funds for 7 days. I called customer service and asked about it, and they said you can make a debit card payment thru them, and funds will be available next day, for an extra fee of $10. Not even my First Premier card charges me a fee for a debit card payment, and they charge for everything. The only reason I was enticed to this card was the $500 starting credit line, most bad credit cards only start you at $300. Not sure about getting a CLI either. My original terms that came with the card stated after one year I could request an increase, but they day I called customer service asking about payments, I inquired on that just to see if anything changed, and was told they aren't accepting increases at this time. I wouldn't of been eligible for one until July 2015 anyway, which would be my one year mark. I believe I will just keep it until then, since I paid the annual fee already for the first year. But with little potential for growth, I can't seem to justify keeping the card. I've never had any problems using it, I just hate waiting for my payments to clear. I've never had one returned, and always pay my statement balance every month, so I thought by now the holds would stop, but they haven't. When I did call customer service, the rep did tell me they were trying to work on something to reward excellent cardholders so as myself, but they are running out of time to save me...as i am almost certain I will not renew the card after July 2015. Thanks, I hope my posting helps someone out there...
Title: Kind Of Regret This One...
Date Reviewed: 2015-06-04 01:24:42 | Recommended?: No
Review: This is a card for rebuilding credit. It is offered by Mid America Bank and Trust. I have another one of their cards, the Total Visa, which I like very much, and I thought this one would be the same, but I found out I was very wrong. There is an $89 processing fee to open the card. I paid that with my debit card with no issue. There is a $75 annual fee year 1, and year 2 and beyond it is $48. Year 2 starts a monthly participation fee of $6.25 a month. These fees are the same as my Total Visa account. They do have a website to make payments and see transactions, however, it is not in real time, it seem to update once a day, so you can't see pending transactions at all, so you must keep track of your available credit if you buy several things in one day...it is the same site I use for my Total Visa...You start with a $300 limit. They will review you for a credit line increase every 6 months upon your request...Payments are subject to a 14 day hold for non guaranteed funds. You can not pay with a debit card to avoid the hold, except if you are past due. This was told to me by customer service rep. They do not accept Western Union or Moneygram payments, even though the website says it does, again I was told this by customer service. I told them that was very misleading, and should be changed. The woman I spoke with agreed with me, and was apologetic with me. It seems to me they are making it difficult to make a payment without the hold on your available credit. Again with my Total Visa, thru the same bank, I do NOT have this issue. So you can pay thru the site with your checking or savings account only, subject to a hold. She did tell me that payments under $100 typically do not receive the hold. You can only make a payment on the site once every 14 days. She told me three payments thru the same bank with no issues establishes you with them, and then holds aren't placed, except if you charge up the card and then suddenly pay it off all at once, that may trigger a hold she said...You can mail in a money order also to avoid a hold, or they do accept electronic payments thru your banks bill pay with no hold IF THEY CAN BE PAID ELECTRONICALLY, and that you have to check with your bank on that. I did a $10 payment on 6/2/15 just to test the waters and see how long it will take, and my bank(Bank of America, a MAJOR bank)estimated they would receive on 6/5/15, so that seems like a paper check would be sent to them. So i'm thinking this card is going to be a hassle. I was pleased that it only took 6 days to receive. I applied 5/26/15 and received the card on 6/1/15. Setting up for payment for the remaining $65 on the annual fee today, so hopefully that will be available to me tomorrow morning, and have the whole $300 available to me. I will report back if I have any issues. Think hard on getting this one, I ultimately regret it, but building credit is important to me. I just wont use this one very often that's for sure!!!
Title: I Have No Issues With This Card
Date Reviewed: 2016-08-15 12:01:48 | Recommended?: Yes
Review: First off this is a card for people who have had credit issues. I was sent a preapproved offer in November 2015 for a $500 credit limit and the fees were $150. I accepted the offer. When the card arrived and I called to activate it, the rep insists that you make a payment but it's not mandatory. I paid the $150 and I used the card monthly for my Netflix and XM subscriptions and pay in full. In the beginning they would hold my payment amount from my available credit for 8 days but the payment posts the same day. Now my payment is posted and added to my available credit the next day. Customer service is always very friendly and I have never had a problem signing into my account or paying my bill. Bottom line, I could not even get a Capitol One card and Verve took a chance on me. If you are looking to rebuild it's a solid option if you pay in full the interest in not a factor. I'm going to close it in October to avoid the annual fee as my score has gone up over 100 points and I have several cash back, no annual fee cards but I will always be grateful to Continental Finance.
Title: Half Of The Credit Limit
Date Reviewed: 2017-02-27 18:57:44 | Recommended?: Yes
Review: I recently applied for & was approved for this card. What I've been doing is only using half of the $300 credit limit & then paying it off every month. Don't want to get anywhere near maxing it out. Does this payment strategy make sense?
Title: Verve NOT The Best Choice
Date Reviewed: 2017-10-10 19:54:05 | Recommended?: Yes
Review: Although we felt like our choices were slim to none when it came to getting an unsecured card i now wish we had just saved up the money and opened a secured card with our bank, Wells Fargo. First you are charged a $125 fee right off the rip so your actual available credit is $500. So we used up what was available with bills we would have just paid cash for. The thought process was use the available credit then pay a larger than normal payment to show the company that over time we are responsible. Knowing we could use any money we paid made it an easy decision until I looked 2 days after making the payment directly out of my bank account and see that the money is NOT available. I checked my bank account and see that the payment has posted so what could be the problem? Well after speaking with customer service I find out that the money is NOT available until after 7 days. Why is this I ask? To help keep you from using all available credit so you can afford to make timely payments. But....if you want to use your debit card next time and are willing to pay a $10 fee you will have access to your payment amount and any available credit l day after your payment posts. Hummmm, pay you MORE money on top of the 29.9% APR I think NOT. So our plan is to now keep the card for 90 days so we get at least 3 positive reports to the bureaus and find another card company that is willing to take any remaining balance we may have and cut this thing up. So just stay away from this one guys. It is not worth it. For as little as $250 I could have had a secured Visa with Wells Fargo and they report each and every month and after 6 months they check to see how you are doing and if you are using at least 25% of your available credit each month and always make at least the minimum payment on time then you may get an increase of unsecured money. As early as 1 year of positive use and payments you could have your money refunded to you and your card would be switched to an unsecured card. Our friend started off with a $500 deposit and 2 years later he now has $2500 available unsecured credit with Wells Fargo. That is the way to go if you have been like us for years paying everything with cash. Shoulds woulda Coulda.
Title: Poor Customer Service. They Took Two Payments Out Of My Account Due To A Mobile App Glitch. They Have Refused To Credit Me Back For 2 Months
Date Reviewed: 2017-11-21 15:27:44 | Recommended?: No
Review: They have a new mobile app and it has a glitch that does not allow you to see your payment arrangement history. I did not realize that I had already made a payment and set up another one. I called them the Friday before and they said they could not see any payments on my account. The following week- two payments came out of my checking account back to back. I had 4-5 overdraft fees as a result and they have refused to refund them to my bank. I have been trying to get this issue resolved since September and they are rude and unprofessional
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