Credit Cards

Tips, news, reviews, caveats, trends, updates and analysis related to consumer and business credit cards, and prepaid debit cards. From the interest rate specialists @ FedPrimeRate.com

Sunday, October 01, 2006

Application Approval Numbers for September, 2006

Credit Cards
Credit Cards
The folks who visit us here at www.FedPrimeRate.com are invariably looking for the best zero percent introductory annual percentage rate (APR) credit card offers, for both purchases and credit card balance transfers. However, for many visitors, it's not as simple as that: credit card deal hunters often want to know which credit card companies have the highest approval ratios, because many credit consumers understand that banks and credit card companies aren't always consistent with their application approval ratios (for various reasons), and it's always a good idea to minimize the risk of having a credit card application rejected.

So, as a service to our visitors, we are starting a new tradition: from now on, and on a monthly basis, we will post the raw approval numbers for the various credit cards listed here at www.FedPrimeRate.com; here are the numbers for September, 2006:

American Express® Blue
1
American Express® Blue CashSM
1
Chase - Sony CardSM
1
Chase PerfectCard™
2
Chase Platinum Visa®
1
Citi® Upromise® Card
3
Discover® Platinum American Flag Card
7
Discover® Platinum Card
1
Discover® Platinum Wildlife Card
1



The Citi® Upromise® Card is starting to gain in popularity, which is no surprise really: it's a great rewards credit card that helps families to save for college when cardholders shop for things like gasoline, clothing, home electronics and more.

As usual, Discover Card leads the pack, with a total of 9 approvals last month for the 3 varieties of their Platinum Card. Discover's popularity comes as no surprise: the interest-free period on transferred credit card balances for all Discover cards we have listed on this site is -- and always has been -- at least 12 months. A year long holiday from paying interest on credit card debt: good stuff! Discover credit cards are also highly attractive because most offer a 0% introductory APR on new purchases for 12 months to boot. It won't surprise us one bit if Discover ends up leading the pack next month as well. Stay tuned!

For those of you interested in comparing September's approval to a month prior to September, here are the approvals from March, 2006:


American Express® Blue
2
Chase Platinum Visa®
3
Chase Sony CardSM
2
Citi® Diamond Preferred® Rewards Card
3
Citi® Dividend Platinum Select® Card
1
Citi® Home Rebate Platinum Select® MasterCard®
1
Discover® Gold Card
9
Discover® Platinum American Flag Card
1
Discover® Platinum Card
1
Discover® Platinum Wildlife Card
2


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