Credit Increases

Discussion in 'Credit Talk' started by mirage5, Apr 23, 2001.

  1. mirage5

    mirage5 Member

    I am rebuilding post BK and have the following credit cards with the following limits. I pay them in full every month. My BK was filed 4/2000 and discharged 8/2000. I received a $100 increase letter from First Premier ($25.00 fee with annual automatic increase reviews). Is it in my best interest to take it? Also soliciting advice for how to improve generally. My Equifax credit score is 614.

    Capital One - $700 (Increased from $200 10/2000)
    First Premier- $400
    Target- $200

    Thanks all!
    Mirage 5
  2. Carrie

    Carrie Well-Known Member

    You have a score of 615 with a recent BK????
  3. eddie

    eddie Well-Known Member

    First Premier is about worthless. High fees, no website, nonexistent increases. Credit nightmare. Try nextcard I got approved with a 626 fico.
  4. mirage5

    mirage5 Member

    A 614 with Equifax, yes. I think it is because I have a number of student loans with perfect pay for years and a car lease with perfect pay since 10/98. I incidentally have had the cap 1 card since 12/99. Still soliciting advice re: the credit increase, the affect on my overall score and how to improve generally if you have any! :)

    Thank you!
  5. mirage5

    mirage5 Member

    I realized First Premier was bad news after I got it but feel compelled to press on because the short account would do more harm to my overall score than losing that smarmy operation would. Would another credit card account hurt my score? Is Nextcard backed by a bank or a finance company??

    Thanks in advance!
  6. Jim

    Jim Well-Known Member

    To: Mirage

    I went to the credit union for my second and third visa card after I got Cap One.

    Haven't you received a Providian offer yet? I started receiving them within a few months of getting my Cap One card. I waited until they offered me a $3K, no annual fee, 25 day grace period, 23.99 apr. card. That kind of offer happened just past the 2 year mark from filing my BK.

    Apply at Nordstrom after the 2 year point. But call them on their credit line and let them take the application over the phone. they will work with you on the BK.
  7. SEAN

    SEAN Well-Known Member

    Re: To: Mirage

  8. mirage5

    mirage5 Member

    Re: To: Mirage

    Can't tell you. My BK is being reported on all of my credit files. I have some accounts that survived. I paid off one loan, never late always in good standing. I am midway on my third year with my car lease-- no lates. All of my accounts are with banks- no financing companies. I really couldn't tell you other than I think the purported damage inflicted by bankruptcy on one's credit report is probably inflated.

    Now, does anyone have any ideas about what I should be doing to improve???
  9. mirage5

    mirage5 Member

    Re: To: Mirage

    Thank you. Your post is very helpful.
  10. FatJake

    FatJake Guest

    Re: To: Mirage

    624 is quite possible with recent BK. I've heard of higer scores. Usually people with alot of history and good accounts that survived.
  11. Mirage

    Mirage Well-Known Member

    Re: To: Mirage

    Hell, I have a FICO of 645 with a BK-13 (dismissed in 8/00).

    You should be getting a Providian offer soon. I got mine in 6/00 and Providian has given me way more opportunties than my Cap 1 account.

    Best regards,
  12. mirage5

    mirage5 Member

    Re: To: Mirage

    Thanks for sharing your experience Sam!

    Very helpful!


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