Hello I am working hard on rebuilding my credit. I use to have a ton of unpaid charges off's. I still have some unpaid charges off's but I am working on cleaning them up. I have applied for and been approved for 8 credit cards even with my unpaid charge off's. Some secured and some un-secured. I have: Capital One, Direct Merchants Bank, First National, First Premier, Sterling Bank, Net 1st Bank, and Providian (I have their gold card and their Aria card). Anyone know of other banks which will approve me with unpaid charge off's. I don't mind secured cards. I want to re-establish myself. I use to have excellent credit. I use to have a $250,000 credit line with American Express some years ago but things went bad with me so I lost everything. Any help would be much appreciated! Kevin Yaeger
RE: Credit Cards for People wi Are you sure you want to get MORE credit cards? I read on this board that having MORE than 3 or 4 prime/subprime cards doesn't add to your scores. Everyone, please correct me if I'm wrong. I'm new to the credit world, so I'm not too clear about the details of having too many cards.
RE: Credit Cards for People wi Yes they say 4-5 cards are plenty for everyone and anymore doesn't help your score. But who the heck knows nobody seems to be able to figure out FICO one bit. But it does appear you have several cards, maybe you should wait til you have more credit history with these cards that you have and then you may get some prime offers??? How long have you had this cards???
RE: Credit Cards for People wi Of all the cards that you have, then only somewhat reputable cards are Cap1 and Providian (in my opinion). Providian has proven to be very worthy to people rebuilding...so has Cap1 (for the most part). As far as the others are concerned, I would rather have secured cards from Chase, Citibank, and Am/Ex when they roll out another secured card. I guess I'm not big on FCNB, Sterling, etc. They all seem cheezeee and I guess I care too much about what cards people see in my wallet! Call it credit stuck up if you like, but I would rather use my *Gold* Washington Mutual check card than some b.s. Net 1st card!
RE: Credit Cards for People wi I agree with what everyone has said above. And I would like to reiterate S.D. point. Have 8 credit cards right now. That is plenty. With ontime payments you will establish yourself to graduate to prime offers. Dont invest your money into a secured card. I would use that money paying some of those charge offs if they are very recent. That is only if your goal is to get a better credit card. We have found at this board that some of the better lenders which you are thinking of getting a secured card from will let you get a unsecured card with them as long as your charged offs are over 2 years and paid. I normally would not suggest anyone pay an old debt except for moral reasons, but in this case it may be worth your while, if it is not a high. I amount. I would say that you have established yourself. The fact that you have obtained some unsecured credit is a good sign already. Your next step is too just wait. Applying for more and more credit even secured is only going to weigh your score with inquires. Paying ontime is most important for you. With 6-12 months of I1's on your reports you will be looking even better. After you have cleaned up your credit as much as possible, you should then apply for maybe 1-2 more cards that you really want and then close some of the more costly accounts like First Premier. Good Luck! and welcome to the board. roni
RE: Credit Cards for People wi Attention Canadians!!! For more information on re-establishing your credit as well as obtaining a credit card even if you have a poor credit history please respond my return e-mail with your name and mailing address and we will send you the information. Thanks, Sean
