I, like everyone else likes to bitch, moan and complain about the sub-prime cards.
But I'd like to remind everyone that many of us, me included, started our way back to credit health by getting those sub primes
I started with just 1 card, Applied Bank. Far worse than Cap1 OR HSBC. $300 opening cl, $100 application fee, $95 set up fee, $30 opening fee, $6 monthly maintainence fee, high interest rates.
For all of that year, that was my only card. No others. Next year, applied for and got a Cap1 card. $300 cl, AF, and $5 monthly fee. I was so proud of myself. Got a card with no initial fees. So for first year of credit: $300, 2nd year of credit: $600
Fast forward to now: Here I am with a total combined credit limit on cc's: $20,300. This suits me wonderfully, as I do not live an extravagant lifestyle, and don't need fantastically high TL's.
Moral of the story? Those sucky subprime cards were all I could get at the time, and they were a godsend to me. Without them, I could not be where I am now. WE all have to start somewhere.
But I'd like to remind everyone that many of us, me included, started our way back to credit health by getting those sub primes
I started with just 1 card, Applied Bank. Far worse than Cap1 OR HSBC. $300 opening cl, $100 application fee, $95 set up fee, $30 opening fee, $6 monthly maintainence fee, high interest rates.
For all of that year, that was my only card. No others. Next year, applied for and got a Cap1 card. $300 cl, AF, and $5 monthly fee. I was so proud of myself. Got a card with no initial fees. So for first year of credit: $300, 2nd year of credit: $600
Fast forward to now: Here I am with a total combined credit limit on cc's: $20,300. This suits me wonderfully, as I do not live an extravagant lifestyle, and don't need fantastically high TL's.
Moral of the story? Those sucky subprime cards were all I could get at the time, and they were a godsend to me. Without them, I could not be where I am now. WE all have to start somewhere.
