My credit scores range from 582 to 602. I have had perfect payment history with 4 unsecured Visa's for two years. Aggregate limits equal 12,700. Debt on cards equal $6500. BK discharged 1999. Today, Next Card approved me for a $300 secured card. Would someone please share their opinion to as what credit worthiness a consumer must likely attain in order to be approved for a high limit Next Card? Thanks in advance for any replies.
Just a guess, but a recent BK and 50% utilization of your aggregate credit limit are probably red flags to NextCard. Time and lowering of your debt can only help.
Hi greyfox - since you seem to be in the know, would you tell me what you think of this scenario: I pay my credit cards down to zero and I apply to Next Card again in December. Would you think that be "enough time" since my bk? Or by time do you mean years more in the future?
Felice, I'm sorry, but some of the other posters here would be more informed...it certainly couldn't hurt to pay down the debt. I don't know what cards you have now, but some other card may be easier to get...my NextCard has a relatively high rate, 12.99%. I have my Providian cards down to 16.9 thanks to the info I got here on the board... Maybe some of the regulars can give you some tips on what other cards to apply for, also.
MY NEXT CARD IS 9.99%...But they want my wife to accept 3 months @ 9.99% then 18.99%... I DON'T THINK SO... CUT AND PASTED FROM WEB SITE... The Annual Percentage Rate for Purchases and Balance Transfers currently is a fixed rate of 9.99%.
