Discussion in 'Credit Talk' started by jp, Oct 31, 2001.

  1. jp

    jp Well-Known Member

  2. leo728

    leo728 Well-Known Member

    interesting read. So you need a 680 fico to even qualify for a nextcard now. Wow.
  3. creditwork

    creditwork Well-Known Member

  4. PsychDoc

    PsychDoc Well-Known Member

    Not only is their new "680 FICO score" policy interesting, but did anyone notice the greater than 7% chargeoff and fraud ratio?? Every $100 their customers charge, Nextcard has to eat $7 right off the top. That is incredible. Add Nextcard to the looking-for-a-buyout dustpile right next to Providian. We should begin counting the days.

  5. on the go

    on the go Well-Known Member

    WOW! Hope someone good buys them, after they jacked my rates up to the drawer they went. Im at that point where I am slowly trying to move in to that prime market. Just got my first prime card, didnt want to make new inq. so Ive been going slow, would be great if I could convert this in to a prime lender or at least get my foot in the door. Just wanting someone prime to take over providian also. To bad for people just starting on the recovery train though sounds like sub-prime market choices is going down.
  6. jp

    jp Well-Known Member

  7. stupac

    stupac Member

    Re: Next is taking a market beating

    In case you don't know, the founder of Nextcard was formerly a top executive of Providian. Will Aspire be next to bite the dust?
  8. Jeff

    Jeff Guest

    Re: Next is taking a market beating

    Nextcard's board of directors has retained Goldman Sachs to pursue the sale of the company to a larger more established financial institution.
  9. creditwork

    creditwork Well-Known Member

    Re: Next is taking a market beating

    Shares are under a buck, that makes them a penny stock.

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