NEXTCARD Success-Unbelievable!

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!

 

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.

 

Frank

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.

 

Marci

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.

 

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.

 

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.