NEXTCARD Success-Unbelievable!

Discussion in 'Credit Talk' started by Jim, Apr 26, 2001.

  1. Jim

    Jim Well-Known Member

    First, I would like to thank Eddie for posting about his success in obtaining a high limit Nextcard a few days ago. The unbelievable has happened. I have been approved for the same "Platinum card" as Eddie. I applied on-line and was given an initial approval for a card and presented with 3 choices including a Platinum card with a $6500 limit, 25 day grace, no annual fee, 15.9% apr., 1st 3 billing cycles are at 6.9%. I selected this option. Now a few additional details...

    To get the card, I have to balance transfer $3,000 or more from another card(s). No problem as the Nextcard website is so sophisticated that they brought up my existing card balances and I gave permission to balance transfer electronically. One thing that is unclear is whether I have to pay a one time $50 fee for the balance transfer. If I do - fine. I want this high limit card. I looked in the terms & conditions and simply could not find whether a fee is applicable here.

    After I completed my on-line application, I received an E-mail telling me that I had been provisionally approved and that a rep MAY contact me to confirm any details. This E-mail also explained how to monitor my application. Today, I checked on my application on the Nextcard website and it said "Approved. You will receive your new card in 10 - 14 days.

    By the way, I have substantially rebuilt my credit since my Chap 7 BK was discharged in Feb. 1999 but this is incredible. Next year I will try and get Nextcard retention to drop my apr. to 13.9 or lower to match my other credit cards.

    For the record, I started out the year officially on the "credit wagon", but with the help of the board I have received a lot of credit since Jan 1st:

    Jan - Providian $3K gold

    Feb - Nordstrom $2k dept.

    Mar - Cap One credit increase $300

    Apr - Target $500

    Apr - Nextcard $6500

    I think Nextcard pulled TU ( my best report) and EX (my 2nd best report). I don't know what my FICO score is on these reports. My worst report is Equifax (FICO 633).

    Thanks again Eddie!
  2. LKH

    LKH Well-Known Member

    Re: NEXTCARD Success-Unbelieva

    Congrats Jim. I am itching to apply for a "prime card" that pulls Transunion. I decided to wait for my second round with Junum before applying. I think I may try Chase as it appears they are fairly easy to qualify for. Any word on the GE card yet?
  3. Frank

    Frank Guest

    Re: NEXTCARD Success-Unbelieva


    Congrats! My fico is 587, and I have a lot of credit since my bk discharge in august 1999: Providian 5500, Aria 2000, Orchard 900, FCNB 2500. You give me hope, man. I appreciate you.

    The only difference between us is employment. I am still on disability, but recently mixed in self employment.
  4. Jim

    Jim Well-Known Member

    Re: NEXTCARD Success-Unbelieva

    I thought about you when I mentioned that I think Nextcard pulled TU and Experian because I remembered that your TU is "clean" or close to clean.

    When Nextcard showed me my available balances to transfer an account came up that is really closed but shows as R1. This account is only showing on TU. I had to really scrape up the 3K minimum to transfer. Otherwise, I would have gotten a card with higher apr. and lower limit. The minimum card card limit was $2K. None of the cards had annual fees.

    I have never seen a website so applicant friendly.
  5. Jim

    Jim Well-Known Member


    The decision to apply is of course yours but if I Eddie and I are not alone in getting NEXTCARDs, you might want to be bold and apply. I say this a little cautiously as last fall Roni got 2 Citibank cards and others who applied and were denied got mad at her.

    Sounds like you are doing great rebuilding your credit. I wonder if passing the 2 year mark after a BK discharge is a milestone with some lenders. I suspect it is.
  6. marci

    marci Well-Known Member

    Re: Frank

    Congrats Jim! That's great. i may try nextcard in a few months again. They denied me in January, but my b:l ration was over 90%. Now it's down to 43%. I also have one paid CO from 1998 on the report.

  7. Jim

    Jim Well-Known Member


    I don't have the NEXTCARD telephone number with me (it is at home). Another member of the board contacted Nextcard by telephone before he applied and as I recall they gave him some insight into his chances of getting a card. You might want to call them when your b/l is under 25% and the paid CO has aged past the 2 year mark.

    Marci - you have been a terrific contributor here on the board (ie. Planet Feedback etc.). Thanks for your help.
  8. roni

    roni Well-Known Member


    Transunion is my worst report. Nextcard has turned me down over and over again. Congratulations on your new card. Have you tried GM? They have a great balance transfer rate.

  9. Frank

    Frank Guest

    Re: Frank

    Thanks, Jim. I appreciate your encouragement. I don't know what your Fico was when you got your Next Card but I will wait a couple more months and go for it. That way the two year mark will be established since bk. I noticed the credit analyzer gives higher points when the 2 year mark is reached.
    You are an inspiration! It keeps me going to hear your success story (and for others as well, I am sure).
  10. Jim

    Jim Well-Known Member

    To: Frank

    Sounds like a good plan and I too noticed that the credit analyzer gives a higher score as your BK ages out past 5 years. Interesting.
  11. Jim

    Jim Well-Known Member

    To: Roni

    I am happy to see that you are back. Thanks for the comments. Tomorrow, it will be 4 weeks since I applied for the GM card. Still no answer from HCS. Do a search under GM and you can see how ludicrous my situation is with Household is.
  12. Donna

    Donna Well-Known Member

    Re: To: Jim

    Congratulations, Jim.

    You certainly did better than I've done with Nextcard. When I applied several months back, I was denied.

  13. eddie

    eddie Well-Known Member

    Re: To: Jim

    Hey Jim glad to see you got the nextcard same as mine. The best thing about it is I can say adios to first premier forever. Those guys really suck.
  14. Marie

    Marie Well-Known Member

    Re: To: Jim

    CONGRATS!!! and I thought I was happy getting one w/a 750 limit :) Way to GO :)
  15. am

    am Guest

    Re: To: Jim

    Nextcard turned me down flat....unless I wanted a secured card......such is life.
    But I love reading all your success stories! Keep 'em coming!


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