Just Approved for Barclay MasterCard and need some adivce

[Creditaddict]

It's a gas card.
GE doesn't offer per-qual.

[Relentless]

We have similar scores. I have a 641 TU score, and also have a FP card. My problem is i have 5-6 closed accounts from 5 plus years ago. I've applied for the cap one card twice and have been denied both times. The first company to give me a decent CL was Barclays, which is 750.

The first thing i did was remove all the most recent accounts from my credit report.

Second, got a 2k secured loan from my bank.

third, got a secured card from Harley Visa for 300.

Then was approved for a 300 with FP. at this point all my scored were in the 580-600 range.

5-6 months later with scores between 600 and 641, apped for a Walmart card which was approved for 500, then Barclays 750. I recon'd both, and both denied me.

Capital One is funny about the amount of accounts you have in bad standing, despite their age, at least according to the letter I got from them.

[beyondbasic]

well ym current utilization is at 94% cause of my first premier only beign a 300 limit but i just paid 250 so that should drop it nicely. once that hits my score im gonna try for walmart card. is it better to try in store or online. ?

[Creditaddict]

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@beyondbasic wrote:

well ym current utilization is at 94% cause of my first premier only beign a 300 limit but i just paid 250 so that should drop it nicely. once that hits my score im gonna try for walmart card. is it better to try in store or online. ?

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online

[beyondbasic]

awesome and sense your a guru with a first premier having 30dollars of 300 used, and a barlcay having 0 of 500 used and a TU score of 626 are my chances decent? my only concern is them just pulling TU as my EQ and EX scores are still very bad like 565ish due to negatives not being dropped yet. 

[Creditaddict]

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@beyondbasic wrote:

awesome and sense your a guru with a first premier having 30dollars of 300 used, and a barlcay having 0 of 500 used and a TU score of 626 are my chances decent? my only concern is them just pulling TU as my EQ and EX scores are still very bad like 565ish due to negatives not being dropped yet. 

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they only pull TU

so it's not really a secured card then if they send you a card with a $300 limit that is currently at $300? when you pay the $300 does it go into savings? Do you get it back when you close the account?

it's already reported? I might try for the walmart now.

[beyondbasic]

with first premier you pay a 95$ depost and get a 300$ limit. however a 39% interest rate, as well as MANY other fees. you have 300$ spending and when you close the account (in good standings) you get your 95$ depost back.  

[Creditaddict]

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@beyondbasic wrote:

with first premier you pay a 95$ depost and get a 300$ limit. however a 39% interest rate, as well as MANY other fees. you have 300$ spending and when you close the account (in good standings) you get your 95$ depost back.  

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That's not a deposit!

that is just a fee.

not to mention a $75 annual fee which will be billed out on your first statement... so $170 in first month to get the card and you never get those back if you continue... PLEASE call and CLOSE the account now and ask for all the fees to be credit back... you have like 30-60 days to do that... if you just sent a payment and can not cancel it you can still get that back too... if the account is closed it will give your account a credit balance and you can request the credit balance back and they will mail you a check... may take a month but SO WORTH IT!!

you could get a Capital One Secured Card and that is actually secured... you get the money back if you close it down the road... and they don't even secure the whole credit line.

bank of america has a great secured card

first national bank of omaha has a good secured card.

first premier is not a secured card and will EAT YOU in fees and interest rate... as you are already seeing! these days with all the choices out there, NO ONE needs to take the first premier route anymore like in the past.

[beyondbasic]

You def get it back its clearly stated you get the 95$ back when you close the account. and i have been using this card for 7months. the 75yrly fee is build 6 dollars a month which im ok with due to the fact that this car post to my score instant and has brought me up 37 points as it was my first card.