O.k. so I get the standard denial letter in the mail regarding the Chase secured card that I tried to obtain: "Dear MP$40...Thank you for your application for a Chase Secured MC....We have given your request careful consideration but unfortunately we are unable to apporove your request for the reason(s) listed below: * DEROGATORY CREDIT RATING Our decision was based blah blah blah.....from Experian blah blah blah" Must of been that judgment! Oh well...if only they would of checked someone other than Experian ;-( And the send my ORIGINAL CHECK back! Oh well...just thought I would let you all know.
Didn't realize that companies turned people down for secured cards! Maybe I'm just trippin. Anyway, I have a charge -off that I have not been successful in having deleted, and I almost thought about applying for this card... I think the next card I'll apply for will be the FCNB secured. Heard good things so far, but a Chase secured would look a lot better =0( Do you think having two secured cards is okay? Or should I wait until my current cards ( two unsecured Providian cards, and waiting on Cap1 secured)hit 6 months, and then apply for something better than an FCNB secured?
Well you have 2 unsecured cards and one secured correct?? I would wait and let these accounts age some myself, I think having three cards is a great start but I would personally wait, keep these acounts in good standing for sometime. Mom
I have had an account with them since September (Washington Mutual Secured). I just paid off and closed them TODAY.....see my previous post: http://board.creditnet.com/read.php3?num=1&id=29810&loc=0&thread=29810
MP$40, you have to consider it from creditor's point of view. A potential customer who they think is unlikely to pay his bills, is not profitable even if his debt is secured. Retaining a customer costs much more than lending him the money till he pays it back. An applicant who does not pay a debt even after the "judgment phase" is, by definition, a very high credit risk. But there may be a way around this. Please elaborate on the judgment: Date, sum, can you pay all/part of it considering the money you'll save if your credit rating improves, and any other info you think is relevant. Saar Saar