Closed my first unsecured card days after opening!

[WLRK11]

I applied for a Best Buy Capital One MasterCard to take advantage of the interest free 18 month financing. I wanted to buy a computer. 

CapOne approved me with a low CL. The card has a very high AF of $59. Others on this fourm have cancled the card shortly after opening due to the low CL, but I wonder if I made a mistake. 

I called the main number (before I was member of this fourm) and requested a CL increase, but I was declined. (I have a few paid collections under $1k.)

Was it a mistake to cancel my first unsecured card??? (I didn't like the AF and the CL was too low.)

[SSA_2013]

Welcome to the forums! I actually think you did a smart thing. The credit line + Annual Fee would have done more harm than good for your score (high fee + high utilization if you tried using the card for decent expenses.) If you are unable to get an unsecured card I would try a secured card instead of the cards that will be stuck forever. I'm sure all of us on the forums can guide you if you post a bit more about your profile. For example, how recent are the negatives, unpaid/paid, etc.

[WLRK11]

Whew! And, thanks!

I was 30 days late 3x (Aug 2011, Mar 2011, Nov 2010) on a private student loan. 

12/2010 is closed on EX (unpaid)

2/2012 is closed on EQ (unpaid $4k, but showing $7.5k with "interest")

5/2012 is closed on TU (paid)

5/2012 is closed on EX, but open on EQ (paid)

8/2012 is closed on TU (paid)

8/2012 is closed on EX, but open on EQ (paid)

Wow! I guess that I've never taken the time to list them all out. I wouldn't give this person a CL increase either. Haha! 

Any good links for goodwill letters? (I'm optimistic about the paid collections.) I'm planning on writing PFD on the exisiting collections except the $4k. Not sure about that one yet. 

Should I be concerned about the variances across EX and EQ? (i.e. closed and open)

[myjourney]

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@WLRK11 wrote:

Whew! And, thanks!

I was 30 days late 3x (Aug 2011, Mar 2011, Nov 2010) on a private student loan. 

12/2010 is closed on EX (unpaid)

2/2012 is closed on EQ (unpaid $4k, but showing $7.5k with "interest")

5/2012 is closed on TU (paid)

5/2012 is closed on EX, but open on EQ (paid)

8/2012 is closed on TU (paid)

8/2012 is closed on EX, but open on EQ (paid)

Wow! I guess that I've never taken the time to list them all out. I wouldn't give this person a CL increase either. Haha! 

Any good links for goodwill letters? (I'm optimistic about the paid collections.) I'm planning on writing PFD on the exisiting collections except the $4k. Not sure about that one yet. 

Should I be concerned about the variances across EX and EQ? (i.e. closed and open)

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Welcome to the foorum

What are those accounts loans,cards etc

also any that say open and are in good standing I would leave them just as they are The closed will remain on CR for 10 years

[Mike360]

The best buy card is not a good card for people to get with limited and/or poor credit history so you probably wouldn't have been better off applying for something else. wise decision to close because that fee doesn't make it worth it. can't charge anything with that limit they gave you and they most likely would never gave you any increase.

[WLRK11]

Thanks! They are collections accounts, sadly. I'm optimistic about removing them with the use of goodwill letters, but it's a long shot. 

Great quote in your signature, BTW. 

[WLRK11]

@Mike360 " they most likely would never gave you any increase."

True, very true!

How do I reply with quotes?

[myjourney]

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@WLRK11 wrote:

Thanks! They are collections accounts, sadly. I'm optimistic about removing them with the use of goodwill letters, but it's a long shot. You will find that long shots can and do come true here... Something to help you out

Go to the rebuilder forum start a new thread and list each collection account by name of collector and ask for advice. You maybe surprised at the results you get.

Good luck

Great quote in your signature, BTW. Thank you a great man said it and I believe in it

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[myjourney]

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@WLRK11 wrote:

@Mike360 " they most likely would never gave you any increase."

True, very true!

How do I reply with quotes?

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Hit reply under the person you wish to respond to.......... then top right hand corner hit quote 

[SSA_2013]

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@WLRK11 wrote:

Whew! And, thanks!

I was 30 days late 3x (Aug 2011, Mar 2011, Nov 2010) on a private student loan. 

12/2010 is closed on EX (unpaid)

2/2012 is closed on EQ (unpaid $4k, but showing $7.5k with "interest")

5/2012 is closed on TU (paid)

5/2012 is closed on EX, but open on EQ (paid)

8/2012 is closed on TU (paid)

8/2012 is closed on EX, but open on EQ (paid)

Wow! I guess that I've never taken the time to list them all out. I wouldn't give this person a CL increase either. Haha! 

Any good links for goodwill letters? (I'm optimistic about the paid collections.) I'm planning on writing PFD on the exisiting collections except the $4k. Not sure about that one yet. 

Should I be concerned about the variances across EX and EQ? (i.e. closed and open)

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Honestly, I would be more optimistic with PFD on the unpaid accounts. Since they appear to be somewhat new they are more likely to delete the accounts if they get some money. If the accounts are already paid they really have no motive to help you (unless you get someone nice to help you).