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Pre - Approved mail offers

Established Member

Pre - Approved mail offers

I just got a pre approved mail offer from Credit One, up to 1500, etc.  I realize its a sub prime card with high fees and all that goes with a sub prime card, but I wouldn't mind getting the card if I can get a $1,500 limit on it.  My question is this:  Is it worth the inquiry to apply to then only get apporved for a low CL?  I wouldn't even keep the card if it was less than 1000 I don't think.


Starting Score: TU 607, EQ 574, EX 656
Current Score: TU 645, EQ 603, EX ?
Goal Score: 750+


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Message 1 of 17
16 REPLIES
Valued Contributor

Re: Pre - Approved mail offers

I wouldn't, having it on your profile is said to lead to Amex denials later on.

 

CreditOne is pretty terrible, I would look into an alternative secured card if I were you.

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 2 of 17
Frequent Contributor

Re: Pre - Approved mail offers

try some local credit unions instead!


EQ Starting Score: 579 | TU Starting Score: 568
EQ Current Score: 650 | TU Current Score: 653
EQ Goal Score: 1000 | TU Goal Score: 1000


Message 3 of 17
Established Member

Re: Pre - Approved mail offers

I don't really need, or want for that matter, more credit, I just want to keep my scores rising like they have been.  I do use the cards I have so it would be nice to have a bit if flexibity for utilization, but I don't think this card is the best answer either. 


Starting Score: TU 607, EQ 574, EX 656
Current Score: TU 645, EQ 603, EX ?
Goal Score: 750+


Take the FICO Fitness Challenge
Message 4 of 17
Valued Contributor

Re: Pre - Approved mail offers

That card DEFINITELY isn't the answer, then.  Give it more time and let the scores rise up to the 680+ range, then go prime for something like Citi Forward.

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 5 of 17
Frequent Contributor

Re: Pre - Approved mail offers

Its all about adding quality tradelines, not terrible ones. Go fish.


EQ Starting Score: 579 | TU Starting Score: 568
EQ Current Score: 650 | TU Current Score: 653
EQ Goal Score: 1000 | TU Goal Score: 1000


Message 6 of 17
Established Member

Re: Pre - Approved mail offers

Thanks for the quick resposes...Looks like the paper shredder will get fed today lol.  My wife's credit is a lot better than mine, she just got an offer to upgrade her AMEX to Platinum, but I can't see the benefit of a $450/year AF, seems like it would be great if you spent half your like in airports and hotels, but we don't.  I was thinking of having her add me as an auth on that card but wasn't sure if it would do much for credit score since they don't report a CL.  She also has a 5K CL on a card from our credit union, maybe adding that one would help?


Starting Score: TU 607, EQ 574, EX 656
Current Score: TU 645, EQ 603, EX ?
Goal Score: 750+


Take the FICO Fitness Challenge
Message 7 of 17
Frequent Contributor

Re: Pre - Approved mail offers

 


alaska8979 wrote:

Thanks for the quick resposes...Looks like the paper shredder will get fed today lol.  My wife's credit is a lot better than mine, she just got an offer to upgrade her AMEX to Platinum, but I can't see the benefit of a $450/year AF, seems like it would be great if you spent half your like in airports and hotels, but we don't.  I was thinking of having her add me as an auth on that card but wasn't sure if it would do much for credit score since they don't report a CL.  She also has a 5K CL on a card from our credit union, maybe adding that one would help?


i would see about getting added to both.  The CU card shoud help improve your util, if it reports.  The Amex will at least get your relationship with them started, so that if and when you apply for Amex on your own in the future, you will at least have an older Member Date.

 

AMEX Blue Cash - $15k, Lowes/GECRB - $10K, PNC - $10K, CIti Diamond Preferred - $10K, Home Depot/Citi - $7590, Best Buy Store/HSBC - $7400, Citi Platinum Select - $7150, Best Buy RZMC/HSBC - $5750, Dillards/GECRB - $4350, Discover More - $3600, Cap 1 Cash Rewards - $3000, Amex HHonors - $2000, State Farm - $2000, Cap 1 MTV - $1500
Message 8 of 17
Established Contributor

Re: Pre - Approved mail offers

I heard the familiar sound of a SHREDDERRRRRRRRRRR!!!!  Way to go!!!   Smiley Very Happy

Message 9 of 17
Regular Contributor

Re: Pre - Approved mail offers

Wow.  Glad I came across this thread.  I think I'm gonna cancel my Credit One card.  Before I do, has anyone been successful in getting the annual fee waived?


Starting Score: TU: 663 EQ: 632 EX: ?
Current Score: TU: 721 (12/02/12) EQ: 704 (12/2012 via SW) EX: 712 (11/19/12 via Amex)
Goal Score: 700 (ALL)


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Message 10 of 17