06-08-2010 02:24 PM
This card has a $39 annual fee, and says the minimum CL is $300... Do you guys think this is the credit steps card? If I ap this card will it be a hard or a soft inquiry? I have until July 1st to ap for it according to this offer. Anyway- I was excited that I finally got somethign that was not fro morchard or 1st premier,lol.
06-08-2010 02:45 PM - edited 06-08-2010 03:16 PM
they pull all three cras hard. 300 is probably starter card.
Do you have problem credit and need this card?
More info--scores, baddies, etc.
How about those student cards?
06-08-2010 02:54 PM
I could probably use this card- not actually use it, lol- but use it to build with. I have a student loan that was in refurbishment, and when I pulled my credit report i found out that even though I made payments each month(it was set up through the school) the payments reported late because I had set up the auto payments to come out on the 20th of each month...so when I pulled my CR in November- I had all these lates- for a year. I imediately paid the whole thing off- and it states paid as agreed on there now. I was able to get a secured card from my CU where I have banked for years... but I just did that in February.. other than that I have no loans, nothing else that reports...lol. and only a couple inquiries this year. my fico score was EQ 614 last month according to score watch.
06-08-2010 03:16 PM - edited 06-08-2010 03:24 PM
well just be aware that that starter card with CAP ONE
is forever and it costs money. I have been with them
for 8 years and I do believe I am still starter with them. Have you tried Orchard?
They at least give auto clis.
Sorry, I missed that part about Orchard and Premier
06-08-2010 03:24 PM
If I were you I'd wait on that application. Any company can send you those offers, but that doesn't mean that you will be approved. Far too often people go on blind apping sprees & all they have to show for it is a bunch of hard inq's that hit your scores hard.
If I were you, I'd hang in with that secured card & when it hits the year mark, talk with your CU about swapping it over to an unsecured. CU's are SO much more forgiving with past history than any bank. When you get that one swapped over, your scores will be looking nicer & so will your options for another card.
If you feel like you really want another one...try Credit One. They too, have an annual fee, but they also give you $100 CLI's every 6 months. These aren't automatic. I'd call their # & go through the prompts & select the CLI....bada boom...bada bing...another $100 with no hard inq...ever.
06-09-2010 06:52 AM
I agree with BungalowMO, work with your CU, I wish I would've did that before getting my capone card. I joined my CU in 02/10 within a month of opening my account I got a $500 CL visa, the CL was low because in that time I also got a $2500 personal loan (not bad for just having opened the account in a month) once I pay my loan off at the end of the year I will request a CLI which I'm sure I will get. I definitely say that your CU can be your best friend. I am going to be closing my capone account in Sept right before the AF is supposed to hit, it served it's purpose and is no longer needed.
06-09-2010 07:48 AM - edited 06-09-2010 07:49 AM
Orchard doesn't give CLI's either, and typically has much higher annual fees.
I got a $3,000 Capital One No Hassle Cash Rewards one month after discharge from a CH 7 Bankruptcy based on a pre-app mailing that sounds like your's. It's now $3,500.
I included them in my filing too.
I don't think I could have expect any better from anyone, even a local CU.
06-09-2010 12:30 PM - edited 06-09-2010 12:33 PM
when did Orchard stop giving clis. They always gave them to me.
I have closed them but they did help re-build.
CAP ONE will give them but it takes your first born. You do not get 3000
for a starter card. They too charge an a/f I started out at 300, now at 5400
Yes CUs are great.
Instead of the 100 or 200 cli mine gave me 2500. after a year.
06-12-2010 08:14 AM
Avoid CAP ONE if possible. They pull all CRA's and you might still be declined. If approved you will have low CL and high fees. They were sending me preapproval offers every month. I called and asked to be removed from their mailing list.
06-12-2010 09:13 AM
I think it's touch and go with CapOne. I had low scores with numerous baddies when I applied in March. I have a $500 CL with NO AF. 2 weeks later I received the credit steps letter stating that at the 5th billing cycle it will increase to $750. Hey..at least they are giving me a chance. I also agree with the CU card. I opened a $500 secured last Sept and it's already at $2000 with only $500 securing it. Not bad.
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