that's pretty neat, do you have that call recorded somewhere?

thanks for posting this, it gives me an idea of what I need to do. I guess what a person really needs to do is some good research, and the only way to do that is to call up the banks and credit issuers and just ask them questions.

Thanks for posting that interview with the TD Bank. It gives me a good idea of what I need to do next!

RossJo,
There are credit cards for all types of credit scores... It sounds like your credit is good... so IMO a credit score of 700+ is probably considered good..

I was recently approved for a TD Emerald Visa at Prime +3.75%... this is the second lowest rate offered. My credit score is between 750-800.. I haven't checked it for a few months...

In order to get the Prime + 1.75, you're probably going to need a credit score of 850+ to be approved.

where is my credit scoring to be at in order for me to get a credit card with a low interest rate? From my brief understanding of the topic I see that a person needs to have a better credit rating to go to get a low interest credit card. I guess I should check my credit report? How do I do that? do I have to buy the credit report can I get one for free. I see all these free ads for three in one credit reports

I'm just not sure if I want to be taken on a whole bunch of credit cards, however if they help me save money why not? I have applied for a credit card in 20 years. I've always had the same credit cards but I've always been able to pay them off each month except for recently with our new unexpected expenses.

I might have to apply for several low interest credit cards in order to be accepted for one? I'm just not sure what to do

is this an actual recorded call? If so I'd like to listen to it.

This is a call that I made to TD Visa to switch my card over from a TD GM visa to a TD Rewards Rebate card... I had a nice visit with the customer service rep. I look forward to getting my reward visa. I decided to change because I won't ever buy a General Motors vehicle again, after their bankrutpcy... and also because I don't carry a balance, I figured I should get a rewards card instead. There is no annual fee on this card.

~~~~~~~~~~~~~~~

TD Visa: Customer service, my name is Barbara. How may I help you?

Monty: How are you today?

TD Visa: I’m good. How are you?

Monty: Not too bad. Yes, so I just called the TD’s customer service just a few minutes ago and I had to get off the phone. I was just inquiring about getting the TD Emerald Visa.

TD Visa: So do you want to switch one of the cards you currently have?

Monty: Yes, the TD GM card that I’ve got. I just have a question. He gave me an interest rate based on my credit score. I’m just wondering, is that a hard inquiry or a soft inquiry?

TD Visa: I believe they do a soft one. Maybe in over six months.

Monty: He just did that just a minute ago.

TD Visa: Oh we don’t do it. Us, as the agents, don’t do it. They do it through the system. We’re not able to see what your beacon score is. We just help at what rate you qualify for.

Monty: I see. So he said the rate that I qualify for is 2.25% plus 3.9%, so Prime plus 3.9%.

TD Visa: Yes, so 6.15%. That’s a good rate. It’s almost the lowest that we offer. So not everybody gets that, so that’s really great.

Monty: The question that I’ve got for you is that, in your website, the lowest interest rate you offer is Prime plus 1.9%?

TD Visa: Yes. That’s the next one.

Monty: So how do I get that one?

TD Visa: So have you ever pulled a credit bureau on yourself?

Monty: Yes I have.

TD Visa: Okay. So it’s based on your beacon score. I believe it’s anything like almost 790 to over 800. Do you know what your beacon score is?

Monty: It’s probably around the 750. Is it Equifax or Trans Union you pulled from?

TD Visa: We use Equifax.

Monty: So that’s the FICO score?

TD Visa: Yes.

Monty: So I have around 750 for FICO score.

TD Visa: Yes. So once you get up to the 800 and up, then you would qualify for the 1.9%, anything over that.

Monty: So how do I do this? How do I switch the card?

TD Visa: I can get it up for you right now. I just need to ask you a couple of questions just to verify you. Once you change this card, you have 90 days from today to use up those points ‘till they’re gone.

Monty: I will never deal with GM again since they went bankrupt.

TD Visa: Not a problem. So you’re not worried about those at all?

Monty: No.

TD Visa: Let me just re-do some brief scripting. So what will happen Mr. Loree, is that you can continue to use your GM card for the next 15 business days. You should get your new card in the mail in approximately 7-10 business days. We try to overlap it so you’re not stuck with the other card. I just need to redo a brief disclosure just for switching that over.

Monty: Okay. I’m just wondering, can you waive the annual fee?

TD Visa: We can’t, unfortunately. This card does have an annual fee of $25 a year.

Monty: Do you have an introductory annual fee that you can reduce?

TD Visa: No, we don’t. Do you carry a balance at all?

Monty: No I don’t.

TD Visa: So is there any reason why you picked this card?

Monty: What’s a better card, because I don’t ever carry balances?

TD Visa: Well if you never carry a balance, what I would recommend is maybe the Rebate Rewards Card where there is no annual fee and you can earn a cash back on the card.

Monty: Okay. I’m on your website so let me go over there. So that is…?

TD Visa: It’s called the Rebate Rewards Card. So with that one, on your first $3,000 you earn half a percent; after $3,000, you’re on a full percent. There’s no annual fee. It does cap off at $235 a year. If you’ve earned more than $100, they mail you a check. It’s paid out every January. If it’s under $100, they just credit your visa. It doesn’t cost you anything and you can earn that cash back.

Monty: What’s the lowest interest rate on that though?

TD Visa: All the cards are 19.75% except for the Emerald.

Monty: So this one’s no annual fee, but you get your cash back.

TD Visa: Yes.

Monty: You said this is capped at $235?

TD Visa: Yes.

Monty: Why is that?

TD Visa: Because it’s mainly designed for people who don’t do a lot of spending on their card. If you are doing a lot of spending, then we would recommend our Gold Elite card. It does have an annual fee though of $99. With that card, you get a full 1% back. It never caps off, but you will also get the Auto club membership. It’s similar to a CAA membership. But for people who do a lot of spending on the card, like some of them are over $1,000 in rebates at the end of the year because they do pick so much money on it.

Monty: With this one, the Rebates Reward Visa card that’s .5%?

TD Visa: On the first $3,000. After $3,000, it’s 1%.

Monty: Okay. Let’s change it over to that one then.

TD Visa: That one then? Okay. If you ever find that in the future, say you’re going to make a big purchase and you think you’re going to be carrying a balance, then just call up and say, “I’m going to be carrying a big balance for a while,” and just switch it to the Emerald at that time. Then you can take advantage of the low interest rate if you are planning on some kind of purchase where you will be carrying it for a while.