Since my Chap 7 BK was filed in 1998, I have received a total of 9 visa/mc's and 1 LOC from a number of BK friendly banks and credit unions. I have received a lot of credit for a man with a BK. I have voluntarily closed 2 of the 9 visa accounts (a $3K Providian and a $3.3K Capital One account). I closed the Providian account because I was sick of them. I closed the Capital One account at 11.9% fixed apr. because the Capital One Executive office gave me back my $10K 9.9% fixed apr. Platinum card. My only remaining mediocre visa card has been my $1,500, 15.99% fixed apr. GM card. This is a rewards card with a 5% reward applicable to the purchase of a GM vehicle. When I received the card in April 2001, I was lucky to get it because Household checked my Equifax report which had the public BK and 3 discharged credit card accounts showing form 1998. On 3 occasions, I have E-mailed a request for an apr. reduction and a limit increase. On each occasion, I was rejected. No "hard inquiry" was ever done. Out of the blue, I just received a letter reducing my apr. to 9.99% fixed for purchases. This was quite a surprise as this is their lowest advertised apr. My old rate, 15.99% apr., was their highest rate. There are one or two apr.'s in between. On Wednesday, I telephoned GM card and offerred to BT $1,500 to my card if they would waive the BT fee of 3% and increase my credit limit. Thier response was... To offer to waive the BT fee but a "hard credit inquiry" would have to be pulled to evaluate me for a credit limit increase and they ( not us) would make the decision about the amount of the increase. Also, no rewards would apply to the proposed $1,500 BT. On a separate offer I was informed that if I would like a temporary 2.9% apr. on my my BT, I can have it, but I have to pay the $45 BT fee and the 2.9% expires in May. And of course, the "hard credit inquiry" for any limit increase will be required and there will be no rewards. This was not much of an offer. Even the rep. seemed embarrassed. LOL I rejected the GM card offers. I asked the rep. to note on my account that if they change their mind and offer me a credit limit increase with no BT fee and no "hard inquiry" that I certainly would consider it. We ended the conversation on friendly terms. So what is the bottom line here... GM card is BK friendly. So for those of you struggling with a BK from a couple of years back - check them out. If you have an account with them, occasionally E-mail them on their website and ask for things. That 9.99% fixed purchase rate that I received is actually very competitive. But be wary of their credit limit increases. I can't prove it but what I think would have happened if I had authorized GM to check my credit is that they would have pulled Equifax and given me a $1,500 increase to match my BT offer. I just don't want another "impossible to remove EQ inquiry" and I plan to close the GM card in June anyway. I simply do not need 7 visa/mc's and 1 LOC. 6 visa/mc's and 1 LOC sounds more reasonable and will probably improve my credit score over time. Sorry for the long winded dissertation. I teach for a living and can be wordy. But I have noticed an increasing number of BK questions on the board and I thought this would help a few people. Best regards, Jim
Yes. About 660's. Be aware that I have a long established credit history that was trashed in 1998. My credit and bill payment history was perfect before and after 1998. Just one bad year. Household would have seen 20+ good credit accounts on Equifax when they reviewed my application. I also have a relatively high income.
i had 660 too. The lady laffed when i requested more than $500 limit. I closed the account. a month later i applied for best buy card and ended up getting a household gold w/$1500 go figure.
Recently I asked about a CL increase on my best buy card and the Household rep laughed at me too. She stated my EQ score was one of the lowest she has ever seen.I ran my report immediately and it was 682 (beacon/fico) no derogs and 3 prime credit card with less than 1,000 balance and over 20,000 limits.I have a 10 yr old mortgage and 4 paid auto loans and two current leases never late. I told her to F' off then hung up. What a bunch of low life A**holes. I hope they BK, close and that person has to clean toilets for a living!
Why are these fools laughing at you? That is some nonsense! Makes me mad! Can't wait until I get rid of this Household loan!! Priority one!!!
that's interesting. I tried for a GM card and was denied. I know my scores are mid/high 600s. I asked for a manual review and ended up talking with a credit analyst. they said I easily would have been approved sans the bk. the bk was a complete no go. then I tried for the gold several months later. again no go, again no because of the bk. Funny, because I normally can talk my way into most anything. So I'm still stuck with my old Household blue subprime 3000 issue... which I keep b/c of age (one of oldest). but, if I can't combine in the next year or 2 to a prime card, I'm out of there. I'd be curious to see how others fare with GM/Gold and a bk... maybe I got a jerk analyst and should try again in a while.. anyone else have positive experiences with bk and hh?
Hi Marie, As I said I really don't know why I got the 9.99% apr., although I have not seen my Equifax report since December when my public record of my BK dropped off, leaving only 2 discharged BK accounts and 30 positive accounts. My scorepower was 690 in January. Maybe Household has checked my credit and I fit into a new scoring category. Yes, you like to negotiate. Contact them via their website E-mail occasionally. I think that is why I got the lower apr. even though I can't prove it. I have picked June to cancel because I want to be sure and get the FICO points rumored to be awarded at one year of credit activity. Also, it gives GM card a chance to make me another offer without a hard inquiry in the next 3 months. I have no regrets about how I responded to the GM card offers today. Having too many cards is not beneficial when I know that I will be house and car hunting next year. My GM card will simply be one more closed positive tradeline at that time. Jim
Jim: How about this. when you call to cancel your GM card, I'll give you all my info. Tell them you're closing your account, but you'd like to transfer your terms to my subprime blue Household card... I'd like a GM card instead. I have an almost 3k limit... for this generous act, I'll donate 2 Fico points to George... from each bureau thanks in advance!
Hi Marie, LOL - that was hilarious!! But what would GEORGE do with 2 more FICO points from each bureau... Apply for 3 more cards of course. - LOL - One from each bureau. I would like to thank you and GEORGE for your credit friendship over the past year. I want to buy a house again. No more renting at $2K a month. My daughter is doing very well in school and wants my Explorer. Therefore inquiries have to be kept to a minimum this year. Best regards, Jim
The people at Houshold just have a different attitude towards customers. Instead of being helpful they decide to be sarcastic and demeaning. I just don't understand why anyone stays with them. Their all losers in my book! They treat good customers like trash!
Household is mainly for people who are rebuilding or establishing credit. A long term relationship with them doesn't seem worth it unless you have to. I have enough cards now and don't want to have to put up with them. It would be interesting if someone said something good about them.
Well they are the first company to offer me a card with a prime interest rate..I have a Card with a $300 limt and a 9.0% rate...I also have to other cards with them and they let me combine all 3 cards into one just last month giving me a card with $3000 in limits and a 9% rate..Other SUbprime cards can't even compare..Cap One Plat $400 limit and a 14.9% rate...Providian Plat (just offered) Int ? but $1300 limit....FCNB $300 limit and a 18.9% rate and Getsmart $400 limit and 16.99%.Cross Country Bank $700 limit 18.99% rate.....Customer Service has been wonderful...The only thing II have yet to recieve from them is CL increase although the last card they offered me had a $1000 limit......I have been with them since July
rwhitlock (and others), What scores are required to get the GM card and does anyone know what CRA they pull? Thanks.
I have the Household Platinum Card with a 0% BT rate for 6 months then go to 9.99%. Never had any problems with them. I also have their Gm card Platinum. Phyllis
I asked to get educated and it has happened. Lucky me. I am reconsidering my attitude. What are the interest and limits on the Household Plat. and GM Plat.? I did not know they had these cards. Please exscuse me I haven;'t been around this place too long.
I have a friend who was over a few weeks ago when I was working on my reports, so she wanted to have hers pulled. We pulled her Experian. I saw she had a Household card. So I asked... you have a Household card? I have never seen it. They are not the best to deal with blah blah. Well, it turns out that it is the credit card she got through her union (filght attendant) , I don't know the exact terms, but she said it was her best card, bunch of benefits, lowest APR she has, and she has many prime cards. So I guess Household does have some decent products. BTW, she had a 30 day on Target and Victoria Secret. A Discover Card c/o that was not hers. And a judgment for a gym membership that she tried to get out of, all on her report. She called Target and Victoria's and they both agreed to remove it, they are now gone, saw the new report yesterday. And the Discover card and Judgment were both deleted, all she did was call the Experian 800 number, and was like, not mine! How great is that, she spent a few minutes on the phone, got 2 deletions, and 2 never lates. Clean Experian!! I still havent gotten my results, how unfair is that!
radio, Some people have all the luck but I am happy that i don't have my results back yet. I think that the more time passes the more likely I will get deletions. See ya this week in chat some time.
I received Balance Transfer checks in the mail today from GM card. The terms are... No B/T fees and 7.99% fixed apr. for the life of any B/T. No credit limit increase was mentioned. The checks will not be used. I hope that Marie in particular sees this post as she likes to negotiate and is a Household customer. I suppose that I could contact retention and attempt to negotiate a higher credit limit and use the B/T. But my feeling is that I will still close the GM card in a few months. Best regards, Jim
Speak of the devil I can't seem to get them to get over the bk. It's ok, it'll be off the reports the next time I apply, if I apply again. I'd like to get the GM card and then combine my old one into it... but with clean reports I may just skip it and go Citi USA and more Amex products... maybe a Chase too.
