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Established Member
gheedorah
Posts: 75
Registered: ‎03-07-2011
0

Prime card with active collection?

While I'm sitting here browsing threads- I've been wondering for a while, do any prime creditors (eye towards Discover IT) issue cards to a person with an active collection? I have one CO from 2008 (don't remember the date, CO was towards the end of 2008, or in the first or second month of 2009 at the latest). I want to pay it, but have no incentive to until/unless collection agency will agree to a PFD.

 

I have always lived frugally, and with a new position I took in February, am making way more money now than I ever have, so I don't need the credit so badly, but I'd like to have one decent card so I can sock-drawer the rest (besides a store card that I use intermittently).

 

I'm going to be contacting Cap One EO to see if they'll roll up my now 3 Cap One cards into one, and give me a little CLI, and even if they don't, its fine, but- just wondering- anyone have experience/knowledge regarding whether a decent FICO would suffice even with an active baddie, or if it is automatic no, regardless of FICO score, if there's an active collection present?

 

 

Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011
0

Re: Prime card with active collection?

I was approved for both Discover and Amex BCP last year with two six year old unpaid collections.  One is for over $2k.  If they are older and your report is otherwise strong it can be done, especially with Discover.  They are far more forgiving than other prime cards.

Established Member
gheedorah
Posts: 75
Registered: ‎03-07-2011
0

Re: Prime card with active collection?

You're much easier to understand in writing than you are on TV, Boomhower.

 

Thanks for the response!

 

I know Discover used to be very tough to get, but I've seen on some other unmentionable sites, that they may be easing up a bit.

 

Good to know there's at least a chance. I'll wait and see the outcome of my email to Cap One EO, but if its no go or not enough love, I might try Discover IT.

Member
counterglow
Posts: 12
Registered: ‎04-04-2013
0

Re: Prime card with active collection?

I was actually just approved for Discover It with active collections showing on my credit report.  (Either 3 or 4 were on the report when I was approved - all small, 3 medical, one a utility, all from about 2 years ago) So, I would say it's possible!

Valued Contributor
dodgerslv
Posts: 1,759
Registered: ‎06-16-2012
0

Re: Prime card with active collection?

I have 2 paid collections on EX and one of them reporting on TU one around 2 years old the other 1.5 (non-credit card collections). Also have 2 charge offs from 2007 (one paid, the other unpaid) and got approved with BofA, AMEX, and Citi. so it is possible. I guess my good recent credit (thanks to this forum) outweighed the baddies.


Cards: (Citi x6) (Chase x5) (US Bank x3) (Amex x3) (Barclays x3) (BofA x3) (Cap1 x2) (WF x2) (Penfed x1) (Discover x1) (Sync/GE x4) (Macys x2)
Fico 08 scores (8/27/14) EX: 772 TU: 767 EQ: 778 (Utilization at 8% right now).





Established Member
gheedorah
Posts: 75
Registered: ‎03-07-2011
0

Re: Prime card with active collection?

Dodgers - I am amazed re: AMEX. (Grats!)

 

I have an INQ falling off May 1 or May 2...maybe I'll try Discover at that point, even if Cap One EO does take care of me before then.

Frequent Contributor
GaTech
Posts: 374
Registered: ‎02-10-2013
0

Re: Prime card with active collection?

If you want an AMEX, maybe you could AP for the delta gold or one of their charge cards...
As of 1/10/2014 EX FICO - 748. EQ FICO - 728. Trans FICO - 755

WellsFargo - $3,000 AMEX BCE - $18,000 Chase Freedom - $4,000



Senior Contributor
youngandcreditwrthy
Posts: 6,211
Registered: ‎08-16-2012
0

Re: Prime card with active collection?

Bet you could do it...
I got approved for a $5k Freedom with a CO from the same time, as well as Amex and Discover, $3500 & $4000 limits.

Had to recon the Chase card
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Member
gheedorah
Posts: 75
Registered: ‎03-07-2011
0

Re: Prime card with active collection?

No interest in AMEX, actually. The lady has a corporate AMEX from her law firm and has her own AMEX as well, and I don't understand the appeal of the card (besides status) - she seems indifferent to the cards, though as I see so often on here, "YMMV" (in this case, "HMMV"), as I know a lot of people here swear by it. Anyway, I'm quite certain I'd not qualify even if I tried. Income in low 50s and an active baddie and low CLs on existing cards = not worth bothering. Hoping that Discover IT is a little more accessible- sounds from these responses that this may be the case.

Senior Contributor
youngandcreditwrthy
Posts: 6,211
Registered: ‎08-16-2012
0

Re: Prime card with active collection?

Of course it's status baby!!! :-P

App for IT! It's a great card!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k

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