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Valued Member
Posts: 41
Registered: ‎09-29-2008
0

Why such icky cards

I am getting approved for low limits and high interest rates, why?

 

AMEX Blue-1000 14.99%

Discover -denied

Amazon.com (Chase)-denied that called for recon- approved for 1000 19.99%

GEMB MC-500 17.99%

Macy's denied for old default (back in 1998)(my have restated SOL from applying again?)

 

I had credit trouble in the past (90's) and have been AU (not reported) on DH's cc for past 8 yrs.  My Fako's are TU 650(Fico 683)/ EX 712/ EQ 693 and I have 5 unpaid but disputed medical collections on TU.

 

Why can't I get a decent CC.  I only accepted the those above for a TL but don't plan on charging more than 50 bucks on each.

Your Latest FICO® Scores TransUnion 700 1/7/2009 Equifax 747 1/7/2009 Experian 759 1/7/2009
March 09 TU 691 EQ 733 EX ? (739 Plus)
Valued Contributor
Posts: 1,126
Registered: ‎03-25-2008

Re: Why such icky cards

The five collections and lack of revolving tradelines in good standing is likely the answer. Blue is an extremely good card and you should consider yourself lucky to get it. Treat that one very well. After 2 years of managing the credit you just got.....and hopefully with goodwill letters removing your collections, you should be in fine shape and able to obtain lower interest rates and higher credit limits. I would ask Amex and Chase for increases in 6 months time with perfect payment history and a decent amount of use on each card.

 

 

Goodluck!

Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
0

Re: Why such icky cards

Your CL on your Amex Blue is higher than my Amex Blue Cash

 

It takes time-

 

A Credit Union my be the way to go th break though the CL ceiling you have going on.

 

Valued Contributor
Posts: 1,185
Registered: ‎03-04-2008

Re: Why such icky cards


aimingfor700 wrote:

I am getting approved for low limits and high interest rates, why?

 

AMEX Blue-1000 14.99%

Discover -denied

Amazon.com (Chase)-denied that called for recon- approved for 1000 19.99%

GEMB MC-500 17.99%

Macy's denied for old default (back in 1998)(my have restated SOL from applying again?)

 

I had credit trouble in the past (90's) and have been AU (not reported) on DH's cc for past 8 yrs.  My Fako's are TU 650(Fico 683)/ EX 712/ EQ 693 and I have 5 unpaid but disputed medical collections on TU.

 

Why can't I get a decent CC.  I only accepted the those above for a TL but don't plan on charging more than 50 bucks on each.


You have unresolved baddies and unresolved baddies are a show stopper.

 

The FAKO's are worthless.

 

I would stop app'ing until you get the CBR's straightened out.

 

You did not reset the SOL by asking Macys for a new account. How much do you owe them? You should speak to them about getting that account straightened out and get yourself reinstated. If you do Macys will love you once again. If you do not they will shun you forever. There are many posts here related to Macys reinstatement. I did it myself years ago and am quite happy that I did!

Community Leader
Senior Contributor
Posts: 4,336
Registered: ‎09-06-2008
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Re: Why such icky cards

how do you think people with subprime cards feel?  cheer up, it could be worse.
Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Valued Member
Posts: 41
Registered: ‎09-29-2008
0

Re: Why such icky cards

[ Edited ]

Thank you guys for all the info...I am very fortunate to have been approved for any credit in todays climate and I am sorry if my post suggested otherwise...It is just frustrating starting over again...I got my first cc at 18 and they kept coming...my parents are bad with money and I never got the financial lessons to manage them properly, so mixed with a divorce and becoming a single parent, I defaulted by the time I was 25...Thank god my situation is drastically different and I just want to do the right thing.

 

As far a Macy's is concerned, I defaulted with about $900 back in 98'...I would like their card again but because I am trying to clear up these medical collections (big mess, finding many mistakes on OC side), I don't have the cash right now to pay in full...should I call and ask if I can make payments or wait until I can PIF (maybe Jan 09')?...I am afraid of restarting the SOL and having a negative on my CR.

Tell me what you think?

 

Message Edited by aimingfor700 on 10-14-2008 05:01 AM
Your Latest FICO® Scores TransUnion 700 1/7/2009 Equifax 747 1/7/2009 Experian 759 1/7/2009
March 09 TU 691 EQ 733 EX ? (739 Plus)
Valued Contributor
Posts: 1,185
Registered: ‎03-04-2008
0

Re: Why such icky cards

I would wait on Macys until you are sure you can handle paying it off. Don't risk restarting the SOL until then. Also be sure you are offered a deal where you will get a new card in exchange for payment of the old account. It should be doable.
Established Contributor
Posts: 532
Registered: ‎11-25-2007
0

Re: Why such icky cards


aimingfor700 wrote:

Thank you guys for all the info...I am very fortunate to have been approved for any credit in todays climate and I am sorry if my post suggested otherwise...It is just frustrating starting over again...I got my first cc at 18 and they kept coming...my parents are bad with money and I never got the financial lessons to manage them properly, so mixed with a divorce and becoming a single parent, I defaulted by the time I was 25...Thank god my situation is drastically different and I just want to do the right thing.

 

As far a Macy's is concerned, I defaulted with about $900 back in 98'...I would like their card again but because I am trying to clear up these medical collections (big mess, finding many mistakes on OC side), I don't have the cash right now to pay in full...should I call and ask if I can make payments or wait until I can PIF (maybe Jan 09')?...I am afraid of restarting the SOL and having a negative on my CR.

Tell me what you think?

 

Message Edited by aimingfor700 on 10-14-2008 05:01 AM

 

Cheer up.  Same story here.  I defaulted on 4 CC's when I was 25.  Now I'm 29 and got my first Orchard back in Dec. 06.  I have lots of good TL's now.  All of my real baddies are taken care of, though.  Still have some medical collections, but I don't really think they put such a heavy emphasis on those.  I have had numerous people tell me that.  It gets better.  You are on your way.  BTW, my AMEX Blue is $1000 w/ 15.99%, so better than me.
FICO's: TU: 682 EX: 688 EQ: Unknown

In my wallet (strikethough are getting the axe soon): Amex Rewards Plus Gold | BECU: 10,000 | AlaskaUSA FCU: 6,900 | Citi Forward 6,500 | BOA Travel Rewards: 5,000 | US Bank Cash+: 5,000 | Merrick: 4,200 | Chase Freedom: 3,500 | Juniper: 3,100 | Household: 2,450 | Best Buy Reward Zone: 2,000 | Cap1: 1,500 | Cap1: 750 | Bailey's Furniture: 3,100 | Lowes: 4,500 | Care Credit: 2,000 | Zales: 1,400 | Kohls: 400 | Sam's: 5,200 | Walmart: 1,100 | Discover More: 1,000
Valued Contributor
Posts: 2,791
Registered: ‎03-18-2007
0

Re: Why such icky cards

Maponafa, I split off your post to start its own thread here in Credit Cards so that more members would see it and be able to respond to your question - new title: "Possible to reinstate Macy's cc after C.O.?"

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