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App with Navy or Cap1 first

Frequent Contributor

Re: App with Navy or Cap1 first


j_casteel wrote:

LS2982 wrote:

shols44 wrote:

LS2982 I have to disagree about creditone.

 

They are a horrible blood sucking company, but they have a purpose. In a post-BK rebuild, they serve very very well.  They use a soft-pull preapproval. This means, you won't burn a HP just to find out you are denied after the fact. $75 AF is horrendous but the goal post-Bk is to have three revolvers reporting. Creditone can get you there. I paid, got my three revolvers and scored a 6.5K visa sig 6 months post discharge.

 

As starry knows, we've covered this extensively in the appropriate thread, this card MUST be cancelled in month 11! This is essential.

 

All that being said, its not a good card, and definitely deserves to rot in a sock drawer (exactly were mine is) but it can be used effectively to achieve new credit freedom.  


There are so many other options out there instead of paying their ridiculous fees and interest. Open up a secured account. They should be a last resort if you cant get secured cards.

 


+1


Nothing could be further from the truth. In a post-Bk rebuild, the options are few. Creditone is making a killing in interest on the grand total of $2 I charge on this per month. I'm not a fan of creditone. Shoot, Its not even in my wallet. But I used them when it mattered, and I don't mind putting that info out there. 

 

Other than capone ($49) secured deposit, I can't think of any secured card that requires an investment of less than $75 that Creditone charges. 


Starting Score: 501
Current Score: 754 EQ,TU 745,EX 750
Goal Score: 800

Message 21 of 27
Valued Contributor

Re: App with Navy or Cap1 first

Starry, I would try for the Cap1 Cash Rewards card for AVERAGE credit. I think this will be a great card to start off. Cap1 approved me for it in July 2012 with both BKs reporting, but keep in mind I had 3 year history with Orchard Back and I had perfect payment history on a 4 year old subprime auto loan. And both BKs were really old at the time, 7 and 9 years from filing. But I love it...I have earned $125 cash back that I can request a check for. My card now has $2500 limit, started at $2000. And I don't ever expect an increase AGAIN! But I like their full/mobile websites...easy to use and they clear my payment next day.

I don't think approval is definite for this card, but I think it would be a great card to have. :-) My 2 cents.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 22 of 27
Valued Contributor

Re: App with Navy or Cap1 first

I thought the platinum was the easiest to get?  I'd love a rewards card, but I don't see that happening quite yet.


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Message 23 of 27
Valued Contributor

Re: App with Navy or Cap1 first

The Platinum is definitely easier to get. I guess if starry tries for the Cash Rewards and gets denied, usually Cap1 will proceed to suggest a different card to apply for but it will be 2 HPs across all three bureaus. I guess I love mines so much that I want OP to have one too! :-)
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 24 of 27
Valued Contributor

Re: App with Navy or Cap1 first

Sorry for third person starry, I didn't realize it was you talking to me! LOL
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 25 of 27
Mega Contributor

Re: App with Navy or Cap1 first


shols44 wrote:

j_casteel wrote:

LS2982 wrote:

shols44 wrote:

LS2982 I have to disagree about creditone.

 

They are a horrible blood sucking company, but they have a purpose. In a post-BK rebuild, they serve very very well.  They use a soft-pull preapproval. This means, you won't burn a HP just to find out you are denied after the fact. $75 AF is horrendous but the goal post-Bk is to have three revolvers reporting. Creditone can get you there. I paid, got my three revolvers and scored a 6.5K visa sig 6 months post discharge.

 

As starry knows, we've covered this extensively in the appropriate thread, this card MUST be cancelled in month 11! This is essential.

 

All that being said, its not a good card, and definitely deserves to rot in a sock drawer (exactly were mine is) but it can be used effectively to achieve new credit freedom.  


There are so many other options out there instead of paying their ridiculous fees and interest. Open up a secured account. They should be a last resort if you cant get secured cards.

 


+1


Nothing could be further from the truth. In a post-Bk rebuild, the options are few. Creditone is making a killing in interest on the grand total of $2 I charge on this per month. I'm not a fan of creditone. Shoot, Its not even in my wallet. But I used them when it mattered, and I don't mind putting that info out there. 

 

Other than capone ($49) secured deposit, I can't think of any secured card that requires an investment of less than $75 that Creditone charges. 


I'm not saying they are completely out of the picture but i'd have to be REALLY in a pickle to want to get their card. If not Cap1 there is CU secured cards plenty of banks do secured cards.

 




EQ FICO 548 3/3/16
Message 26 of 27
Valued Contributor

Re: App with Navy or Cap1 first

That's okay.  I'm sorry to hear about your mom, that must have been very rough at such a young age.

 

I think I'm going to go ahead and app with cap1 first, though I hate for my TU to get dinged again.  I've already got 10 on there from car shopping and now Navy HPd me for membership.  I guess after 10 inqs more can't really hurt that bad.  If cap1 says no, then I'll try Navy and/or Bellco.  One card and a new car loan will hopefully give me enough history to be able to get relatively decent rebuilders.


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Message 27 of 27