Whats your Opinion on Fairwinds visa card?

[amercnchopz34]

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@MountainHiker wrote:

Is it difficult to get approval? I have one unpaid collection on my file.Is Fairwinds very conservative about giving credit to a person with only a single, 2 year old collection? The collection is really 6.5 years old but was resold.They will not agree to a pay and delete.Is Fairwinds hard on people in my situation?

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I have this card...great apr ad 0% for 12 months...have a bk 7 from 2005....2500 CL......I ave no complaints....they pulled EQ.....

[tinuviel]

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@Revelate wrote:

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@MountainHiker wrote:

Thanks for your very thoughtful words.Yes,waiting does suck and by nature i'm not the most patient of people.I view myself as a problem solver and that probably explain why I haven't given up. Many of the things you touched on hold true in my eyes.I have lately been willing to opt for any card as long as it offers a certain levels of perks and gave my credit file a leg up compared to it's current state. That is the reason why I have been considering apping with a Credit Union such as Alliant. I agree with you at the end of the day the best thing to fix my credit report will be time. What motivates me to even try and add a Credit card before the six months when the collection falls off is the reality of how strange credit can work. Derogs in a credit file can be marginally weighed just like good history of payments  can be seem as being not good enough. There is not allways a consistant formula for approvals. I have no doubt my situation would be enhanced greatly by waiting till march when the collection falls off.Will probably have to do just that.Maybe my probablem is i have far too much optimism for my own good

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My general theory on collections: if it's paid and that old, you can apply now.  If it's unpaid, wait till it falls off.  Think of it as building character .  I think though you're also saddled with short history, and don't discount the benefits both to FICO and underwriting that another six months brings.  The rational choice if you don't absolutely need the credit card (and by such I mean it'll save you non-trivial money right now or allow you to do something you can't currently) is absolutely to wait in this case; however, humans in general aren't the most rational creatures and I know personally I'm no exception to that.

Alliant CU has a good reputation to my knowledge on the forums, and I think it's worth cultivating relationships with a few CU's as they offer some things that larger banks often do not.  I'm debating changing my plans now and including SDFCU as they might have a secured card with no-forex and I'd rather go with that than a Cap One secured.  Our lives change, so any plan you make needs to be flexible, and having different lender options is always a bonus.

If I remember your threads, Alliant is probably your best bet out of the ones you've asked about.

Longer term you'll be OK, it's simply difficult to learn patience on these forums when we see approval after approval talked about, and even I sit back and think "if they can get it why can't I?"  before once again realizing I'm nowhere close to FICO pretty.   If I start getting really twitchy I simply take a break from the forum for a few days and I find that helps.  This forum is a tremendous source of information, but it can also be one of temptation too even if wary.

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 (Edited for typo)

You've given the OP great advice on this thread. Yes, waiting can be difficult, especially if you feel that you might be right on the cusp of an approval. But patience does pay off! I had CO/CAs on my reports, too, and wanted to get certain cards. I was denied due to the derogs. So, I sat back and hunkered down for 10 months until the last one fell off. The last month was particularly difficult, as I wondered if I might possibly be approved with just one old, paid CO showing. But, I stuck with my plan and waited until everything fell off and all three of my reports were CO/CA clean. The result is that I wound up with everything that I wanted -- and EXACTLY what I wanted, not just random pieces of plastic -- and all with good limits. I'm ecstatic about the results, and it was the result of patience. It is worth it to target what cards you want and then make a realistic plan for getting them.

[MountainHiker]

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@Revelate wrote:

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@MountainHiker wrote:

Thanks for your very thoughtful words.Yes,waiting does suck and by nature i'm not the most patient of people.I view myself as a problem solver and that probably explain why I haven't given up. Many of the things you touched on hold true in my eyes.I have lately been willing to opt for any card as long as it offers a certain levels of perks and gave my credit file a leg up compared to it's current state. That is the reason why I have been considering apping with a Credit Union such as Alliant. I agree with you at the end of the day the best thing to fix my credit report will be time. What motivates me to even try and add a Credit card before the six months when the collection falls off is the reality of how strange credit can work. Derogs in a credit file can be marginally weighed just like good history of payments  can be seem as being not good enough. There is not allways a consistant formula for approvals. I have no doubt my situation would be enhanced greatly by waiting till march when the collection falls off.Will probably have to do just that.Maybe my probablem is i have far too much optimism for my own good

---

My general theory on collections: if it's paid and that old, you can apply now.  If it's unpaid, wait till it falls off.  Think of it as building character .  I think though you're also saddled with short history, and don't discount the benefits both to FICO and underwriting that another six months brings.  The rational choice if you don't absolutely need the credit card (and by such I mean it'll save you non-trivial money right now or allow you to do something you can't currently) is absolutely to wait in this case; however, humans in general aren't the most rational creatures and I know personally I'm no exception to that.

Alliant CU has a good reputation to my knowledge on the forums, and I think it's worth cultivating relationships with a few CU's as they offer some things that larger banks often do not.  I'm debating changing my plans now and including SDFCU as they might have a secured card with no-forex and I'd rather go with that than a Cap One secured.  Our lives change, so any plan you make needs to be flexible, and having different lender options is always a bonus.

If I remember your threads, Alliant is probably your best bet out of the ones you've asked about.

Longer term you'll be OK, it's simply difficult to learn patience on these forums when we see approval after approval talked about, and even I sit back and think "if they can get it why can't I?"  before once again realizing I'm nowhere close to FICO pretty.   If I start getting really twitchy I simply take a break from the forum for a few days and I find that helps.  This forum is a tremendous source of information, but it can also be one of temptation too even if wary.

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OMG! It's as if you are in my head.Reading these threads are an amazing help allows me to plan my strategy of attack and side step a few minefields along the way.But there are times when I feel that tomorrow is not happening fast enough especially when I see other people enjoying their hard earned rewards.To go from excellent credit then having to rebuild my credit is quite a difficult situation.The basics in life can hinged on whether or not we have a decent credit history.Just getting small things such as auto insurance can be influence by a FICO score. I do remind myself that the damage to my credit did not happen over night and it would be silly to think only a short amount of time can something so large be fixed.That is the logical side of the equation.But the emotional portion wants to get on with it allready.Like you said I hope to be ok.In the mean time I will enjoy my new car and let that achievement be a reminder of what can happen with time and hard work. 

[MountainHiker]

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@tinuviel wrote:

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@Revelate wrote:

---

@MountainHiker wrote:

Thanks for your very thoughtful words.Yes,waiting does suck and by nature i'm not the most patient of people.I view myself as a problem solver and that probably explain why I haven't given up. Many of the things you touched on hold true in my eyes.I have lately been willing to opt for any card as long as it offers a certain levels of perks and gave my credit file a leg up compared to it's current state. That is the reason why I have been considering apping with a Credit Union such as Alliant. I agree with you at the end of the day the best thing to fix my credit report will be time. What motivates me to even try and add a Credit card before the six months when the collection falls off is the reality of how strange credit can work. Derogs in a credit file can be marginally weighed just like good history of payments  can be seem as being not good enough. There is not allways a consistant formula for approvals. I have no doubt my situation would be enhanced greatly by waiting till march when the collection falls off.Will probably have to do just that.Maybe my probablem is i have far too much optimism for my own good

---

My general theory on collections: if it's paid and that old, you can apply now.  If it's unpaid, wait till it falls off.  Think of it as building character .  I think though you're also saddled with short history, and don't discount the benefits both to FICO and underwriting that another six months brings.  The rational choice if you don't absolutely need the credit card (and by such I mean it'll save you non-trivial money right now or allow you to do something you can't currently) is absolutely to wait in this case; however, humans in general aren't the most rational creatures and I know personally I'm no exception to that.

Alliant CU has a good reputation to my knowledge on the forums, and I think it's worth cultivating relationships with a few CU's as they offer some things that larger banks often do not.  I'm debating changing my plans now and including SDFCU as they might have a secured card with no-forex and I'd rather go with that than a Cap One secured.  Our lives change, so any plan you make needs to be flexible, and having different lender options is always a bonus.

If I remember your threads, Alliant is probably your best bet out of the ones you've asked about.

Longer term you'll be OK, it's simply difficult to learn patience on these forums when we see approval after approval talked about, and even I sit back and think "if they can get it why can't I?"  before once again realizing I'm nowhere close to FICO pretty.   If I start getting really twitchy I simply take a break from the forum for a few days and I find that helps.  This forum is a tremendous source of information, but it can also be one of temptation too even if wary.

---

 (Edited for typo)

You've given the OP great advice on this thread. Yes, waiting can be difficult, especially if you feel that you might be right on the cusp of an approval. But patience does pay off! I had CO/CAs on my reports, too, and wanted to get certain cards. I was denied due to the derogs. So, I sat back and hunkered down for 10 months until the last one fell off. The last month was particularly difficult, as I wondered if I might possibly be approved with just one old, paid CO showing. But, I stuck with my plan and waited until everything fell off and all three of my reports were CO/CA clean. The result is that I wound up with everything that I wanted -- and EXACTLY what I wanted, not just random pieces of plastic -- and all with good limits. I'm ecstatic about the results, and it was the result of patience. It is worth it to target what cards you want and then make a realistic plan for getting them.

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Your experience is very similar to my current situation and I agree there is a price to pay when apping for credit when I have less than clean history.You wanted prime cards and got them because of your patience and hard work.And I'm sure there were times when you thought about pulling the trigger before all your Derogs had exspired.I struggle with that sometime At the end of the day, I will not be as pleased with sub-prime cards.I had and still want the type of cards that offer access and privilage because they tend to make life just a little easier when doing various functions.AMEX offered that for me.I'm sure that is true of Alliant,Citibank and Discover. Its a huge plus to have a credit card that offers rental car insurance when using the service at Avis or Hertz.Those type of cards actually can save you a considerable amount of money every year. I have to remind myself of these things when I forget the virtues of patience. 

[mm50]

I got a secured card from Fairwinds 12 mths ago 400.00 cl. I called them to see if they would graduate me. They denied me. I asked because I have received several store cards and rewards credit card. Also I had Wells Fargo secured card and they graduated me. Fairwinds told me my score was to low. I really do not see how they got that. I checked my FICO and it was not what they were saying. It was much lower. I believe they calculate there own scores. I really do not need there card now. So I will be closing that account. Because why should i have thier card and let them sit on my money.It does not look as if their going to graduate me anytime soon. But i will stay a member. It was a good credit rebuilder ownly.