I have been getting these offers about twice a month from Cap One. They are for a Guaranteed Approval Plat MC with a limit from $325 to $3250. Is it worth it??? The APR is a fixed 14.9 on cash and purchases, but it has a hefty $59 annual fee and I know that Cap One doesn't report limits. Also, I know they will pull all three bureaus for an inquiry. I was just approved last month for a Visa Plat from my CU that is 11.9 APR (fixed) and 6.9 fixed on BT's until pd in full with a 5K limit. Dogman, it sounds like your Cap One offer was better. Do you think I should bite? Is everyone else gettting these? In case anyone doesn;t know, my reports aren't that great, have a Ch 13 from 96 and several included accts. All negs and the BK drop off all reports in the next 18 months (all have DLA's 95-96). Scores are all mid 600's. Thanks!
You'll get $500 or less for sure. Don't waste your time. My wife and I both in the 700 club got the old $500 card. They offered another 1k when I called to cancel.
With scores in the mid 600's - NO! Simply because of the annual fee. I applied back in Sept when my scores were barely over 600 and got a $500 limit, $72 annual fee - plus they called soliciting something new every day. Funny tidbit - they called one time while on t.v. the "No Hassle Card" was being advertised. I then asked the rep about changing the card over - she told me I'd have to apply for the new card. Only good thing about Cap One is Mr. Cooke. He bumped the limit to $800 and removed the annual fee. If I were you - go with the credit union card. But that's just my reccomendation... GT
No, my situation is the same as yours. My bk will fall off in 2003/Oct. If you wait the 18 months, you will be Prime time. At this point I am not applying for any new cc. Trying to pay-off NXCD and Providian. I do have a Cap 1 classic since 1996 with a 3k limit. Never received any other Cap 1 offers. Best regards, Mirage
I have scores in the mid 600's, a 6 year BK7 and plenty of derogs still showing and I got 7k. I think the limits are done manually. I did have a regular Crap1 card for 1 year prior with alot of activity.
I got this Plat 14.9 card a few months ago. I started with a $500 CL. They raised in the end of March to 5k. Yes, I have another CapOne...two in fact. I'm not using one though. Come to think of it...I'm not really using either of the older ones. The oldest is 2 years (or 3) old. I got my 2nd one last year. I was going to close it but I wanted to wait until I get my mortgage and THEN close it.
Hi Niceguy - they gave me $3500 - I got the "welcome package" yesterday - card not here yet. They must have lots of different terms - my offer was from $500 to $7500 - yes at 14.9%. My annual fee is $39. NiceGuy - funny thing - after I got the "Nice" Platinum invitation, about 3-4 days later, they sent me the same deal in another format - kind of an "Express Mail" type document. Shantel, sounds like you did well; NiceGuy, they may start low - but it will grow. NiceGuy - That credit union card is GREAT! Congratulations! best regards - dogman
Sounds like I should just stay with the new CU Plat Visa I got, unless I possibly could talk Cap One into lowering the APR from 14.9 to a rate below the 11.9 CU card and ditching the annual fee. Sounds like I should just hold the CU card until my reports are fully clean in 18 months. It's already been 66 months, hopefully the next 18 will fly by!!!
I got the same offer...BUT $72.00 annual fee "GOLD"...Up to $3,250...MY LOWEST NOW IS $5,000...12.99% is the HIGHEST interest raate I have...
