11-09-2009 09:42 PM - edited 11-09-2009 09:51 PM
Okay. So my Orchard card is coming up on one year and will gift me with a $59 AF.
I'm getting the Juniper invitation letters; and am toying with the idea of app'ing. I would like to replace my Orchard with a card without an AF. I"ve been reading tons of posts here on Juni and am not sure about app'ing.
Have any of you app'd after receiving the letter and then been rejected?
Are there some Juni cards that are more bk friendly than others? My invitation letter is for the Juniper Platinum MC.
My TU FICO is 730. No inquiries. CH 13 BK discharged 2/09. Four store CC's that are four months old. Orchard CC is 11 months old. New mortgage (refi). AAofA is 7.78 yrs. Utilization 3%.
I'm kickin' it around. Any thoughts?
11-10-2009 02:06 AM
11-10-2009 06:44 AM
Creditaddict - Thanks for the reply. Did they send you an invitation letter or did you cold app?
I was thinking about Juni in about six months - but would love to app now and close the Orchard before the AF hits. On the other hand, if I get a rejection, I'll be bummed. I guess it's only one inquiry for me on TU so the point ding wouldn't be that bad - so maybe not too much of a risk. Boy, I think I'm becoming paranoid about all this app'ing stuff - I thought I'd gotten over that .
11-10-2009 08:51 AM
Juni has been good to me. They started me with $3,000, then gave me a requested CLI to $5,000 in February. Many people have reported surprise auto CLI's recently with Juni, and I got one in October, I think, to $6,000.
One of the best things is when they give you the CLI, they start off with "You are one of our most valued customers!"
From some other posts it seems they might have a problem with those 4 new store cards in 4 months. But the backdoor number takes you to a credit analyst. The person I got in February was great! Only wish I had written down her name.
11-10-2009 09:27 AM
jaysdad2k wrote: From some other posts it seems they might have a problem with those 4 new store cards in 4 months. But the backdoor number takes you to a credit analyst.
Yep - that worries me. I was planning to get those to 6-12 mos. old before app'ing for anything else.
But the idea of knocking off that AF and closing Orchard is tempting me....
Thanks - Point well taken about the backdoor number - I'm trying to make sure I'm up for the phone call if I get rejected.
Just checked my TU, and Juni has not even softed me. Barclay's softed DH four months running when they sent him his pre-approved offers.
So, if they accept me, I can close my Orchard. Yay!
If they reject me, I can call the backdoor number, and possibly get accepted, and I can close my Orchard. Yay!
If they reject me, and I call the backdoor number and still don't get in, my only loss is 1 inquiry (up from 0) on TU.
It's a good thing I'm not a professional card player - I'm evidently very slow when it comes to taking a risk.
11-10-2009 10:11 AM
11-10-2009 10:16 AM
11-10-2009 10:42 AM
I wouldn't close any accounts right now, especially your oldest one.
Thanks daveytrain. Yeah, that age thing is something I'm trying to watch. But at this point, my oldest account is 28 yrs old and my AAofA is 8 yrs.
So my Orchard is a baby, at less than a year old. It is my oldest open CC, but my Macy's and JCPenney's cards are only months younger and I will probably keep them open forever. Checking it all out, there's not too much loss in AAofA even down the line, if I close the Orchard.
But, I was planning on keeping it open one more year and app'ing for another bank card sometime next fall before closing it.
Still, can't decide.
It's probably all the worse because we were able to close DH's Orchard -- he has been able to open several lovely CC's in the past year. I'm a bit slower on the rebuilding front. I guess I have to realize his FICO's are marching to a different drummer than mine. Dang it.
11-10-2009 10:44 AM
You could also always call Orchard and ask them to waive the AF, I know HSBC has done this for me in the past, but I have no idea if Orchard will or not.
I'm on board. Keep your fingers crossed for me. It's coming up next month, so I will try for the waive a few weeks before it's set to post. Thanks.
11-10-2009 10:45 AM - edited 11-10-2009 10:47 AM
Orchard has been in the mode of cutting the AF in half. You can call to get it waived, and they will give you a credit of $29.50. Then it's at the end of the month after your anniversary that they hit you with the full $59.00.
Since they report at the end of the month, you can PIF the fee even if it appears on your statement and it will never show on your CR. This assumes that you PIF your account.
I know some people go ballistic over even a $19 AF, but there usually is a reason we get cards with AF's. To me, the AF is like tuition until you "graduate" to better cards. The one I disliked was Credit One, which cost me $11.70 a month just to have the card if I paid online. And I think it has gone up to $13.70. But it was my second rebuilder card.
I mailed $5.95 checks every month until I got exactly 2 years history and pulled the plug on that one.