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Looking for Advice..

Super Contributor

Re: Looking for Advice..


parakleet wrote:
I agree with the others regarding closing FPB. It has served its purpose for you. I don't think it's worth keeping just for the aaoa alone since it will stay on your cr for 10 yrs. The only thing you have to be concerned with is the effect on the util. Try to use the shopping cart trick to get some GE cards, which will help w the util. I just don't think it's worth paying all those fees just for the aaoa.

the shopping cart trck isn't for GE cards, its for WFNNB (FYI)

 

Also, to OP, I would say that you could apply for 1 or 2 more cards that you will actually use, but definitely dont go around doing the shopping cart trick for a bunch of store cards that you'll never use. It is a waste and your AAoA will start to tank if you begin opening up tons of new accounts. 

Message 21 of 30
Valued Contributor

Re: Looking for Advice..

@jsucool76 Oops! Thanks for correction. Smiley Happy 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Message 22 of 30
Valued Member

Re: Looking for Advice..

Thanks for the advice. I decided to apply for the Discover IT card. They sent me a pre-approved offer in the mail yesterday. I sent in the application around 1:00am online and they said they are processing my application. I called this morning to attempt to expedite the approval process but they said my application wasn't showing up in their system. It may take 24 hours for the application to process.. Assuming I get the approval, I will immediately cancel FPB.

My Wallet- , AMEX Green (npsl), DiscoverIT- $8,500. Home Depot CC (Citi) $4,000. Care Credit CC- $12,800. BankAmericard - $900. Express(Comneity)- $550


TU FICO: 723 (6/24/13)
EQ FICO: 686(5/23/13)
EX FICO (AMEX PULL): 690(6/3/13)


Message 23 of 30
Valued Member

Re: Looking for Advice..

I just got my approval for the Discover IT card over the phone! The woman was extremely nice and just had me re-apply with her because she could not locate my online application. I was approved for a $6,500 CL!!!!  Thats WAYYYYY more than any of my other cards. Now I get to call FPB and cancel that crappy card.

My Wallet- , AMEX Green (npsl), DiscoverIT- $8,500. Home Depot CC (Citi) $4,000. Care Credit CC- $12,800. BankAmericard - $900. Express(Comneity)- $550


TU FICO: 723 (6/24/13)
EQ FICO: 686(5/23/13)
EX FICO (AMEX PULL): 690(6/3/13)


Message 24 of 30
Contributor

Re: Looking for Advice..

Congrats!

 

Cancel that sub-prime card and bask in the glory of being in Prime Card Land!



Amex BCE: $16.5k, Discover It: $5k, Chase Freedom Visa: $10k, Fidelity Amex: $7.5k, PenFed Cash Rewards Visa: $3.5k, CapOne Union Plus MC: $4.5k, Barclays Upromise MC: $5k, BoA Cash Rewards 123 MC: $1.5k
Message 25 of 30
Valued Contributor

Re: Looking for Advice..

Congrats on all your recent success!!!  Now off to the garden with yeSmiley LOL


Starting Score TU 667 EQ 663 EX 655
Current Score TU 778 EQ 776 EX 781 Last Update 4/2016
Garden Club 04/10/2013
Message 26 of 30
Moderator Emerita

Re: Looking for Advice..

Message 27 of 30
Mega Contributor

Re: Looking for Advice..


baseball1313 wrote:

I just received a letter from american express saying I'm pre-selected to apply for AMEX Green.. My FICO Transunion is 698, Experian Plus is 639, Equifax is 638.I have about 68,000 in Student Loan Debt. I have a paid CO from Verizon for Final Bill discrepancy. That became a paid CO in June 2012. I have a a few lates with Chase and FPB from back in 2006, 2007 and one 30 day in 2010 with Express Charge. I've been vehemently working to have the CO taken off for the past 10 months and have had no success. I send a letter a week to Verizon. The other lates I've given up on becuase they either say they wont remove or don't respond to letters. The Chase was closed and will fall off next year and the FPB (oldest account 7.4 years) will have the late fall off next year as well. I also opened up a secured BOA card in December 12' for $400.00. I havent missed a payment. Plan to go unsecured in September 2013.

 

With that being said I was kind of surprised AMEX reached out to me. I applied online with the code provided in the letter,  and within 15 seconds I was approved for the AMEX Green. Does that sound surprising to anyone?

 

On a side note, First Premier Bank is the WORST company to deal with once you have graduated from bad credit and are looking to get CLI's. The only thing they did was lower my interest rate to 11.9% . They charge 6.00 monthly servicing fees, annual fee, and the BEST is the 25% CLI fee. They only give CLI's once a year, and $200 is their MAX. What a joke. I've been a customer for 7.4 years and they wont budge on CLI fee or caps on CLI. I havent missed a payment in 6 years!!! The only reason I keep the account is because they are my oldest account and keep my average at a decent number. Otherwise, I'd dump them. They have no plan for customers who build their credit over time.

 

As of right now, I have a BOA secured( $400), A FPB ( $550), A Express Charge ($250), and now an AMEX Green (not sure of the limit yet). Any advice on where to go next? Maybe sit and garden for a while? let my BOA unsecure before applying somewhere else?  I have 3 inquiries on my report as of now. Verizon, BOA and AMEX.



CONGRATS!!! Smiley Happy

 

Welcome to the AMEX family!!!

 

The Green is a Charge card and there is NPSL (No Preset Spending Limit). NPSL does not mean unlimited spending. You have an internal limit with AMEX and as you make charges and create a spending pattern they adjust that internal limit.




EQ FICO 548 3/3/16
Message 28 of 30
Valued Member

Re: Looking for Advice..

I gave FPB the axe today.. They tried to convince me  for 15 minutes why I should keep my account open. LOL. I said if you waive your annual fee, monthly servicing fee, and give me a $2,000 CL with no CLI fee, I will keep it. They obviously wouldnt do that..... I'm just hoping my score doesnt take a drastic hit from losing my oldest account and my AAOA dropping significantly. But, I'm assuming my recent credit aquisitions of AMEX (npsl) and DiscoverIT ($6,500) will boost my score. As of now, I have 4 inquries, (Discover, AMEX, BOA and  Verizon Wireless(2011 falls off this month). I will use another inquiry in September to graduate my BOA secured. Any thoughts before heading to the garden?

My Wallet- , AMEX Green (npsl), DiscoverIT- $8,500. Home Depot CC (Citi) $4,000. Care Credit CC- $12,800. BankAmericard - $900. Express(Comneity)- $550


TU FICO: 723 (6/24/13)
EQ FICO: 686(5/23/13)
EX FICO (AMEX PULL): 690(6/3/13)


Message 29 of 30
Super Contributor

Re: Looking for Advice..

The card shouldnt fall off for 10 years or so. The only score hit you'll take is if your util spikes up.
Message 30 of 30