My first pre-approved CC in years

[mt2va]

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?

[dizbuster]

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.

[mt2va]

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. 

[BungalowMo]

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@mt2va wrote:
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. 

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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

[Anonymous]

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@mt2va wrote:

my score continues to improve I'm assuming I will attract other prime type lenders and/or maybe some store cards?

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You betcha you will.I went from receiving nothing a year ago to receiving pre approval weekly.

[Anonymous]

I got one from Premier on line and one from Orchard.  Nothing decent.

[Anonymous]

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@dizbuster wrote:
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.

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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

King

[tray]

Hi, congratulations on the thought of the pre-approval, but do not request the card you will regret it in the end, they are an EXTREME nightmare of a credit card company.  Good Luck on more offers.