Basically says I am pre-approved unless my credit has changed since they last got their info. Their fees are rediculous!!! $29- Account set up $95- Program fee $48- Annual Fee $72- Participation Fee $273 dollars???????? OUCH. 9.9 APR - Nice, but with those fees it would be like having a 60% APR. Thanks, but no thanks. Anyone have any idea what the limit would be? I am guessing 300 dollars, so it would cover the fees. I am passing on this offer. Currently I have 6 positive revolving accounts and 3 positve installment accounts, I think I will be fine until I make prime. I am just hoping for future upgrades at this point.
I received an offer from them a while back. Went as far as mailing it in.... Then they sent me a letter asking for all this info...copies of bills, copies of paystubs, etc. I figured for a card that is (basically) secured due to all these fees they made up along the way, it's not worth it. So I applied to an Orchard Bank card and was approved, already received the card. Terms are not the best, but neither is my credit history. I'll settle. Hmph...
I wish you would have saved the envelope and mailed it back with the shredded papers (even if it wasn't postage paid)!!!
My wife got one of those in the mail. I went ahead and read the entire thing and found that it would be an initial charge of $175 for the card with similiar charges. We got the card and she had a $250 limit. Considering that she has two charge-offs on her report(Providian and Capital One), I think that she is damn lucky she got a pre-approval in the mail. 9.9%, gold mastercard. However, I'm paying the bill on this.
I am glad your wife got a card to rebuild. Personally I prefer the secured cards in the beginning, I would rather deposit $200 dollars then pay the fees.
ROFLMAO plus a $35 late fee because the payment would be due the day after the statement arrived in the mail!
I got the same offer in the mail today. I read all the fine print and the credit limit is $250 to $1000. I figure they would give the $250. They said the $72 participation fee is billed $6 a month (how nice of them) so the initial amount would be a LITTLE under the CL! It just kills me, though....annual fee, start up fee, participation fee, program fee, additional card fee!!! Why don't they just put them together and call it the "We are screwing you fee"!!!
whats really funny is these folks are getting so much business !! So many fools fall for this junk and they are laughing all the way to the bank,.
I was a fool with little options, just closed the account last week after 2 years....I feel much better now! They're customer service is AWFUL!!!!!!!!!!! Stay away if you can help it!
