My score is I believe between 620 and 650. I have a preapproved offer but it has 29% rate and $75 fee. I currently have 3 cards with $15K in limits 10% utilization. My score is weak now due to some spotty payment history (various past dues primarily due to negligent habits-- signing up soon for auto-pay). Will this help/hurt my credit score?
I think you have plenty of credit cards to improve your FICO scores. $15K in available credit with 10% utilization is enough at this point and I doubt the credit limit "Credit One" would offer you would be enough to make that much of a difference in your CU ratio. Focus on using what you currently have responsibly, keeping your CU ratio under 10%, always paying on-time, and trying to get rid of those old late pays. What cards do you currently have? I'm just curious...
Credit One has partnered up with Everyday Privileges Gold (Trilegiant Corporation) to offer you a "free" Walmart Gift Card or a "free" digital camera. WATCH OUT! It is a scam. Your card/camera claim form will continually "get lost in the mail" (and it will happen several times if you give them the benefit of the doubt) while they charge you $14.99 a month for their supposed services. Don't be a sucker like I was.
I currently have an HSBC Visa card and a Discover Card as well as an unused Chase Card and a couple retail cards. Discover just bumped up my limit (unsolicited) but I had an unsued Banana Republic which I had ignored and they just closed it in April...I had not used in over two years.
Good news on the Discover limit bump. I wouldn't worry too much about the BR card getting closed on you...I doubt it will have much on an effect on your overall FICO scores.
hmmmmm, after seeing who is behind Credit One, I wouldn't have touched their offer with a 50 foot pole... Credit One is formerly First National Bank of Marin, owned by everyone's favorite vultures, LVNV Funding LLC, Resergent Capital Services Limited Partnership, Sherman Originator LLC, Alegis Group LLC, Sherman Financial Group LLC, Sherman Capital Markets LLC, Sherman Acquisition Limited Partnership, Sherman Acquisition LLC, Sherman Acquisition II Limited Partnership, Sherman Acquisition II General Partnership LLC, Meeting Street Partners II Inc. (Did I miss any of their aliases?)
