Should I take this offer or leave it?

[Elexismc]

I was discharged on 6/4(big weight lifted off my shoulders!). I have read a lot on rebuilding here, and am so excited and impressed by the stories I've read. I would love to start rebuilding, but I think I've burned all of the "suggested" cards to start with. I did get a pre-approval for CreditOne, but I haven't heard great things about them at all. I know it's kind of early to start just yet(with my discharge being so new), but I'm curious to see if anyone has any suggestions on where to begin. I have already cleaned up my credit reports and everything is reporting correctly. Should I take the CreditOne offer? Interest rate would be 17.9% and it has a $39 annual fee which isn't terrible considering my current credit status. Any information would be appreciated. Thank you!

[0REDSOX7]

Absolutely take it - yes the rate is high and the annual fee sucks - but - you just go out of BK...its the price we're gonna pay.

I did it - and after three months of having it (I got discharged in February) - my score has gone up up and up and am finally above 615!

[Elexismc]

Thank you! That's how I felt too, but I have heard so many horror stories about them-although since I don't plan on carrying a balance, how bad can it actually be, right?

[0REDSOX7]

Use it, pay your bill on time and you won't have any issues.

[Elexismc]

Took the plunge...only $300 but who am I to complain this soon out of bankruptcy? Thank you again!

[Mike8181]

I would suggest to try cap one. I applied on the day of my discharge and was approved for $2k w no fee.

[Elexismc]

They were one of the ones I burned in my bankruptcy.I had quite a few of their accounts since they acquired some of my other accounts over the years. I plan on trying with them in about six months or so

[Anonymous]

Another one to try is First Premier.  The only draw backs are you have to pay a $95 activation fee and the $75 annual fee is put on the credit card when you get it.  But, just coming out of BK, theres not much else we can do.

[Elexismc]

Well I got some good news after paying the first bill($35 annual fee) they already gave me a cli to $400...First Premiere keeps sending me those offers....I had them when I was 18 and I don't think their fees have changed much lol! Thank you for the advice...if I can't get back in with Capital One I may have to go that route!

[Anonymous]

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@Elexismc wrote:
Well I got some good news after paying the first bill($35 annual fee) they already gave me a cli to $400...First Premiere keeps sending me those offers....I had them when I was 18 and I don't think their fees have changed much lol! Thank you for the advice...if I can't get back in with Capital One I may have to go that route!

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Did you request an increase or did they just give it to you?