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Established Contributor
Posts: 548
Registered: ‎06-02-2016

Subprime Borrowers Find it Easy to Get Credit Cards ...

... but at toy limits and high APR ...

 

http://www.msn.com/en-us/money/personalfinance/subprime-borrowers-find-it-easy-to-get-credit-cards/a...


Gardening until Dec. 2018.
NFCU Sig $16.5K || Macy's $7.5K || Discover IT $5K || NFCU Plat $4K || Chase FU $4K || CitiCostco $4K || CitiDC $3.3K || Chase Slate $1K || NFCU CLOC $1K
Frequent Contributor
Posts: 401
Registered: ‎11-18-2015

Re: Subprime Borrowers Find it Easy to Get Credit Cards ...


CreditInspired wrote:

... but at toy limits and high APR ...

 

http://www.msn.com/en-us/money/personalfinance/subprime-borrowers-find-it-easy-to-get-credit-cards/a...


Yeah that's what is the bad thing about it.  And if the credit habits do not change, the borrower is only digging themselves into a much deeper hole Smiley Sad


Starting Score: EQ 593, TU 600, EX 612
Current Score: EQ 836, TU 850, EX 843
Goal Score: EQ 750, TU 750, EX 780


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Frequent Contributor
Posts: 852
Registered: ‎02-07-2017

Re: Subprime Borrowers Find it Easy to Get Credit Cards ...


FICOdeMio wrote:

CreditInspired wrote:

... but at toy limits and high APR ...

 

http://www.msn.com/en-us/money/personalfinance/subprime-borrowers-find-it-easy-to-get-credit-cards/a...


Yeah that's what is the bad thing about it.  And if the credit habits do not change, the borrower is only digging themselves into a much deeper hole Smiley Sad


Good thing I have this site to keep me honest, then. Smiley Wink Seriously, with my revolving-credit lines pushing up past the $12K mark as of this past weekend, the temptation is definitely there but my primary thoughts are actually focused on getting outstanding balances down where I can and moving to close my secured card once I get it paid down/BT'ed so that I can remove that no-longer-really-needed account, get my deposit back, etc. It also helps that I've been warned off dangerous things like getting too enthusiastic with the SCT as well as the really bad/junk subprime cards, and have made substantial progress on getting the cards I actually do want.

Rebuilding credit since 2015 (BK filed 8/14, discharged 12/14) - started out in 570's, now approaching 700 (FICO 6/17:TU 646/EX 678/EQ 677 FICO 8 or 690 NG 2, VS 3.0 6/21/17: TU 686/EX 684/EQ 693)! $951 Cap One secured Platinum/$3000 Cap One Quicksilver/$800 Amazon Prime Store Card/$3300 Discover It/$4000 Overstock Store Card/$1200 Walmart Store Card/$2000 Apple FCU Platinum Visa/$10k PenFed used car loan/$5k Navient student loan. Back in the garden as of 6/21/17 until at least Sept. 2017 unless I get a preapproval I can't refuse...

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