I am getting these pre-approvals from them quite often. I did quick search on them but I want to see what others here think of them. Are they ok to get, or are they not nice to work with?
They are actually Barclay's and I would state that they are ok. Don't take any "world point" product insofar as it doesn't report a limit. All in all, they're not as good as AMEX, Citi, Chase, etc., but, better than Capital One, Merrick, and HSBC. One true bonus is that they pull Trans Union and if you apply for two in the same day, they'll code the inquiries as only one.
I have mixed feelings about Juniper. In March of 2006 I was initially approved for a $1250.00 limit MC. One of my first transactions was a cash advance for $20. Lo and behold, all of a sudden they dropped my limit to $310. Their explanation - people who use CCs for cash advances can easily get into financial trouble. ??? And one year later, March of this year, they "generously upped my limit to $660. What a joke.
Thanks, apexcrsrv. My credit needs to have one more credit card, so I'm looking at the pre-approvals I get in the mail. But I'm wonder if I could apply for a card without a preapproval and be able to get it. I looked on this site aboiut the credit cards for good and bad credit - I think I'm somewhere in between. Can anyone tell me the cards that are good to have and easy to get? My scores in the low-mid 600's. Does anyone know about Continetal Airlines CC (it's a Chase card) - is that good and easy to get? What about Chase Flexible Rewards? I already have a WaMu card and 2 Cap 1 cards (I'd like to get rid of Cap1, but now they have a 3 yr history. I may combine them one day and sock drawer it, but not right now - I don't want to lose the history). I also don't want one of the jewlery cards - I want one I can actually use! Maybe a gas card, but would prefer a general credit card. I just got a pre-approval for a card that would support my college alma mater - a USBank card - is that a good bank? I considered my credit union, but after talking with someone there, I don't think I'll get approved. Thank you.
Stay away from the US Bank card. US Bank is one of those crooked loanshark outfits trailing not far behind the likes of Citibank, Chase, B of A, and Wells Fargo.
^^^ hmmm...apexcrsrc says in an above post that Citi and Chase are good cards, but you (greg) don't think they are - it leaves me confused!
Just my $.02. I don't like BofA, Chase, or Cap1 because of their onerous terms and inflexible customer service. MBNA was great until BofA gobbled them up. In any case read ALL the terms and conditions before you decide. I'd lean towards a credit union if at all possible. If not the one you're in, then perhaps another one. Shop around, there are more than meet the eye.
Why in the world would you take a cash advance for $20.00 and pay the fee's associated with such a small amount? I guess the joke is on you huh?
Greg seems like a consumer that has suffered some negative tradelines in his past? Possible he filed bankruptcy or a foreclosure? Anyway, please understand the source of a comment. Anyone that takes a $20.00 cash advance on a credit card really doesn't have to much credit sense.
Yes, I did file bankruptcy - in 2002. I stuck it to Chase, Citibank, B of A, and US bank. And I'm proud of it. I had them since 1999. On the evening of September 10, 2001, I mailed each of them my monthly payment, but because of what happened on the morning of the 11th, those pieces of mail didn't go anywhere for a while. I was hit with late charges. When I confronted them about the late charges, all, EACH ONE OF THEM said that I should have paid the bill online, and refused to reverse the late charges
I'm hoping someone can address these points from my earlier post. Thanks to all who have responded so far.
Bump I'm still hoping someone can offer advise on the 2 types of cards Listed in my above post. Thanks.
What are you really looking for in this new CC? i.e. high credit limit, low APR, no annual fee, reward points, status? It may help to know what you need the card for, convenience, emergency, etc. And do you plan to pay it off every month, or carry a balance? Consumer Reports has a review of the "Best Credit Cards" in this month's issue. You may want to look at it. Also, look at www.bankrate.com and www.money.com for their card reviews. Be aware that the current "subprime mortgage" crisis, will have a spillover into the CC industry. Expect approval criteria to tighten here as well. So, my advice is to choose one quickly and apply. You probably have a good shot at a Cap1 card, yes there are mixed reviews on them, but it all depends upon on how you handle the card also. If you manage it wisely, I think you will find it acceptable. With your scores you might try for a Citi or BoA card, but this is risky as to acceptance.
Thanks, bizwiz41. Yes, I'm aware of the mortgage and credit tightening - that's why I am persistant aabout getting this information, so I can apply as quickly as possible. The reason why I want a card is my credit profile siad I needed 2 other CC's to help my credit picture. Since then, I've gotten one (WaMu, through a pre-approval letter). Also, my end goal is to buy a house. I got pre-approved a couple months ago, but it wasn't enough to actually buy a house. That pre-approval person told me the same thing about getting 2 additional CC's. So I need one more. If I'm going to get one, I want it to be one where I can earn airline miles, (preferably for Continental Airlines) if that's possible. I don't fly a lot, but sometimes purchases can add points to airlines. I would use it, and either keep a zero bablance or a very low balance - I know about utilization too. But I need to know if I could get approved easily with my credit scores. I don't have a pre-approval letter on Chase Flexible Rewards (which can turn into airline points) or Continental Airlines cards (which is also a Chase card). I don't want to many credit pulls and/or rejections, so I'm trying to find out what my chances are in getting either of those cards before I apply. No annual fee, good interest rate, etc...those are very nice too! I'll check those web sites. Further advise is welcome! Thank you.
I don't know if you've looked at this website, you may be able to cross reference a card between airline miles and credit ratings. http://www.creditcardguide.com/airmiles.html I would call any card issuer that looks appealing, and inquire what their approval criteria is, if you think you qualify, then apply on the phone. Your best shot is probably Cap1, with the points. But shop around first.
^^^ I did call Continental Airlines about thei card approval criteria, and I was told that I need to talk with someone at Chase (I haven't done that yet) I already have 2 Cap1 One cards. (and the WaMu card) - I need one more for a better credit picture. I'd rather it not be a store card or a gas card. I wonder if I can get a Discover or AmEx card without a pre-approval letter with my scores??? I will check the creditcardguide site you mentioned. I did check the other 2 sites, but didn't find them helpful for me. Generally, when a site talks about cards for bad credit, the scores are lower than mine, so they suggest cards like Orchard, etc. I think I should be able to get a card a little better than that. (I hope so, anyway!)
Here's an update, and a request for more advise. A few weeks ago, I got a pre-approval letter for a card from someone affiliated with HSBC (maybe Merchants???) , and I applied and was approved. Later, I learned I was only approved for $300. Since the previous CC approval from another company only a month earlier for $1000, I wanted to wait to see if I could get another card, so I never activated the $300 card. However, I did call to see if they would reconsider the limit for a higher amount, and that I was looking for about $1000 or more. I was told no, that it was all done by computer. Not-so-coincindently, I got another pre-approval, this time from HSBC themselves, and the offer states the approval is for a min. of $1000. I just applied online with that pre-approval number and was declined. The reason given was because I was recently approved for an HSBC card. I do believe after my phone call, that they sent me a preapproved app for the amount I was looking for, and they knew (because I stated ithis as well) that I was approved by a company they are affiliated with, so then why did they send me this offer? They had to know that if I was just approved that I wouldn't be approved again, so why was it sent? Is it ever possible to activate a card with a low amount, and immediately request an increase in the limit? On a $300 card, my utilization is almost nothing before my credit score will take a hit.
If your goal is strictly to add an account to your CRs, then you may want to activate the card, then use it for small purchases, and pay off immediately. A few months of good usage and payment history could get you a CL increase. Otherwise you start running the risk of too many inquiries showing on your credit reports. If you do use the card, make sure you make the payment before the billing cycle closes, to make sure it reports as a $0 balance for your CRs.
I considered doing just what you said (activating the card), but then here's what I thought next: Can't I have 2 HSBC cards? I have 2 Cap1 cards, so why not 2 HSBC? And if I can't, then I'm not too happy that: A. They approved me for such a low amount the first time, B. Then, after I called them and they knew I had a card and knew what I was looking for, they sent me another pre-approval for much more. If they knew that already having a card would not allow me to get another card, then why did they make this offer? It sets me up for a decline on the other one they sent. Yes, maybe it was just automated mailings, but in this case, it's too coincindental. (see my other posts above for more on this) C. When I called them to see if I could get an increase, I was told no, it's an automated computer thing. All of this doesn't seen like a good place to do business with, so I'm not sure I want to activate that card I have. Even if I don't use it, who knows what other junk they may come up with. And, although I don't want a card to use to the max or to even use at all, I want the option to use it without getting a high utilization with only spending $100 Those are the reasons that I think I don't want to activate this card.
