To: Marie

Discussion in 'Credit Talk' started by Jim, Mar 11, 2001.

  1. Jim

    Jim Well-Known Member

    Thanks for responding to my Target account question!!

    Marie, you are doing so well with your credit accounts that I actually printed out your response to me for that future day when I again apply for more credit. BTW, my BK discharge was in Feb '99 so you are 2 months ahead of me. here are just a few more questions:

    Did the Providian mc arrive in the mail as a pre-approved card offer and what were the terms? Roni got one of these a week ago.

    I assume you aplied on-line for the Nextcard and Aria?? Did you speak to anyone over the phone about getting the cards or were you just approved on-line? What were the terms.

    On another matter, unless I am terribly mistaken, First USA reports to the 3 CRA's. I included a card with them in my BK.

    Thanks - Jim
  2. Marie

    Marie Well-Known Member

    Prov MC arrived preapproved, nothing required but signature. I got the old b/s offer 500 credit line, 23.99 apr, no grace, 59 annual fee. Prov is now sending out 1000 mc offers b/c they realized that the 500 is almost offensive: b/c you're a good customer and all. If I'm so good why is the MC offer exactly the same as my original visa when I had no new credit. The retention dept agreed it's a bit offensive and I think mktg caught that fact: hence the new offers are still crud terms but at least 1000 credit lines.

    The day I got the MC I called retention directly and got 59 refunded and down to 16.9. I was honest. I can't use the website (that was when I learned it) and I didn't understand why I was "starting over" in terms etc. They agreed and immediately matched my current 18 month old Visa terms. just buying a trade line and I know it. They couldn't increase the loc until the old 4 month mark: I'm pushing this one April 1st.

    Nextcard and Aria were web applications. I did Aria first got 1000 23.99 59 fee. VERY disappointed in the Persona offer. Lord. I have decent credit now in comparison to last year. Got the card in the mail and the same day got the 59 refunded b/c of the website issue. Called a month later and I only have 19.8 Apr. I'm working on it. On review I'm asking for a 3K increase: we'll see. Prov should love me and in 3 months my utilization across the board will be under 15% for all cards...

    Nextcard I applied for the Same day I did the Aria. Got brave, or stupid. 750 line, 6.99 intro rate, 16.9 thereafter, NO annual fee, grace period, of course. I just requested a line increase to transfer some baby balances: don't know yet. It may be way too early to push line increases but I guessed the worst that happens is a no. who cares. :)

    Yes, first Usa reports to all 3. I'm trying to decide if I should do a joint/ Au on a friend's card. So far, all my progress is mine: and I'm a bit proud of that. Additionally, I don't think I can piggyback on the 7 years good credit already established on the account: I think my clock would start 3/01 so I'm thinking I may do it all under my own steam.

    Still deciding if it's worth it to put a high limit card on my report or if it'll eat too much of my possible increases w/my actual cards. Plus, I need installments more than revolving lines: I'm still evaluating my situation. Been too busy to do much on this end. I'll decide this week and I'll take action b/f I go on vacation.

    I'm also going on vacation in a week for 2 weeks and I don't want credit cards in the mail to me while I'm gone. Hoping my new target card will make it b/f I go... :) I was actually surprised about the Target! Now I have the 1 dept store card and I won't bother w/any more. I'm really working on balance and I have it all charted and excel spreadsheeted. :) This is a part-time hobby, but I think it's worth it.

    FYI: after the Target I got too cocky. Rejected for Citgo, Home Depot, and Sears is "processing". I'm guessing it's a no too. :) I'm actually on the wagon til Sept (unless it's a secured installment loan: I'm still figuring out the timing on those upcoming lines). I am trying to balance aggressive credit strategy w/looking at it like a credit officer and still trying to look responsible :)

    The very strange thing is this: these are my first rejections for credit. I was careful and called and evaluated credit risks before applying for extra credit... so I had been conservative. Decided to push that mid 600 score and see what happens. :( GUess I got his w/the bigger drop in score b/c of inquiries but it'll rebound in a few months and I really don't need any more, I'm just seeing what I can do. :) Hope this helps :) At least it's fun now.
  3. Nave

    Nave Well-Known Member

    I am glad I read your post, because I am concerned about hard inquiries on my report, and want to approach this logically or at least with the smallest amout of damage to my report.

    How concerned are you about those applications (approved or denied) you are making leaving these inquiries on your report? I know they "matter" less in say 6 mos, but they remain on for 2 years (correct?).

    I only ask because I just received my Cap One card (unsecured, and first/only one after my foreclosure) and I would like to get one or two more, but I am really nervous about the amount of credit checks I will accumulate. I see you are improving your score while you are getting denied possibly for these hard inquiries.

    Anyway, congrats on the Aria and Target cards, and I have my fingers crossed for your Sears and Nextcards.

    Thanks for all the info! -Dave
  4. Marie

    Marie Well-Known Member

    Thanks! I guess I'm not a bit concerned b/c I don't need any new credit. I've been so methodical and conservative that I decided to "push it a bit" and see when the no's started. :)

    I tend to think it's better to apply for a card or 2 or 3, then wait 6 mos, then go again. But there's no proof this is better: it's just my personal strategy.

    I'm trying to get "better" cards now. Not subprimers.

    I will not apply for a stick of gum until 6 mos+ now. I was testing the "prime" world blindly. From now on, I stick to my program: call first, get requirements, push credit dept for info on approvals w/bk7... THEN apply. I got a bit cocky but I also knew I didn't need anymore credit. I just want to work up my limits now. I'm not sure how these may or may not affect getting a secured bank installment loan: we'll see. I'm still waiting for this one for at least 3-6 mos. I don't need to borrow/ get any credit: I'm just building my profile.

    I'll push Sears if I get a no. The strange thing w/Sears is this: my mother's old Sears card is showing up on my credit report... so I'm not sure how this is/not going to affect my application. I checked "no" to a previous Sears card.
  5. Nave

    Nave Well-Known Member

    Your plan sounds good. I will use those tactics as well before applying. I don't know how your Mom's sears card shows up on your report...That dispute is a clear "not mine" :)) - was the status of that account good?...if so I would think Sears would give you the card. I would think it can be used as an argument with Sears if they don't...Just in case I'll keep the fingers crossed.

    I TOTALLY understand the cocky feeling though! Once I got the unsecured Cap1 Visa, I wanted to see who else would bite, but I held back and have thrown away all the offers since then. Although after seeing what you wrote "push it a bit, and see when the no's started" and I thought ...hmmm why not. It will take me at least 2-3 months to repair the bad stuff that got me a decline, and a decline/hard inquiry is not going to lengthen that time, and will be less damaging by then, so why not? I will sleep on this strategy but it sounds somewhat logical.

    Good luck, let me know how things go with the hopefuls. I'll be here for the 6 mos report too, and Ill let you know my experiences as well.


    PS If you need some gum don't hesitate to ask for a stick :)
  6. Marie

    Marie Well-Known Member

    Sears is perfect. 5500 credit line since 1977

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