I know exactly what you mean. I fill out that preapproval thing and it says I can get one so I submit it a second time and it turns me down. My scores have dropped the last couple days by over 30 points because I bted a personal loan but before that they were way high enough for their stupid card- wrong.
It's a border line subprime. You still needa somewhat decent score to get. i think they charge 49.00 a year. Not lik eother sub-primes that charge a 120.00 app fee, plus annual rate, etc.
I think even cap 1 is also a sub-prime, I spoke with A CSR regarding my auto loan, he said cap is sub prime lender.
I was wondering because I want to close my Providian account but providian is the only cc I have. I would like to get an unsecured card!
A year ago, Providian and Orchard were the only ones I could get. Both unsecured. They both started with approximately 200-250 CL. Orchard has climbed to 550, and Providian climbed to 1450 in the same timeframe. I just closed my Providian account this week. Orchard is now my highest CL. Cap1 turned me down a year ago, but they recently accepted me through a preapproval offer. I'm hoping I can build a good relationship with Cap1 and get higher CL's within a year or so. However, as far as Orchard, I have read that their CL increases are normally slow. They have automatic increases, but I was also able to request one this week. (only for 100 increase) Ducky
You should never close your oldst CC. Maybe, use it once a month for gas and pay the balance the day you get the bill. Charlie
