I received my first pre-approved CC offer in years in the mail yesterday. Its from First Premier. I know they are a sub-prime lender, but looking over the terms its not quite as harsh as the usual ones I've seen online from them.
I finally have my first 2 CC (from CU) reporting. I'm assuming there is not benefit at all to signing up for this pre-approved card? Once I start growing my 2 CC & my score continues to improve I'm assuming I will attract other prime type lenders and/or maybe some store cards?
Thanks that is pretty much my plan but wanted to be sure I hadn't overlooked some un-known benefit. Yeah it is exciting that someone thinks I'm finally good enough for credit even if it is one of the sub-prime folks.
I know how that feels. About 4 years back I got my first pre-approval in years. I think the interest was something like 19% on some bank visa something-or-other. I didn't accept it, but it still made me feel good to get it.As I started paying things off & cleaning things up, one of my current cards was at something like 7.49 til prime went back up
my score continues to improve I'm assuming I will attract other prime type lenders and/or maybe some store cards?
You betcha you will.I went from receiving nothing a year ago to receiving pre approval weekly.
Congrates on getting the offer even though it is FP. I remember when I got a few offers in the mail after BK, I didn't care who it was from it was just nice to get offers. Having said that, I would stay far away from FP bank. They truly are the bottom feeders of the credit world. You apparently have a CU card so stick with that, the better offers will come in time. Anyway, just my advice.
Congrats on getting the offer..............................BUT I think dizbuster summed it up perfectly, you don't want to get in bed with these crooks. Better offers will come with less fee's etc. Good luck