10-08-2012 09:57 AM
I understand completely. Sometimes you have to do what you have to do. But don't keep it for over a year! They charge you $25 for every deposit you make to boost your credit amount after the first year. They charge $30 to add an AU and have charges for everything! In a year you will be in a better shape and will go for better cards! Now eat your peas and carrots! Good luck!
Yeah... I doubt I'll keep it that long even... really just need a way to better cards. Without a thousand inquiries and denials! I don't have anyone I'll ever want to add as AU and I don't plan to add any funds at all mostly just sit in a sock drawer. If I do though I believe I read that CLIs in the first year aren't charged. But kind of a moot point in my situation. This is the beginning block to AMEX (muahahaha ))... in a while lol
10-08-2012 10:00 AM
Sounds like a good plan then. Just keep an eye on that one. A close eye! I want an AMEX Centurion, but the closest I'll ever come to one is a piece of tin and some black spray paint!
10-10-2012 11:45 AM
Quick update- my Open Sky account just appeard on EX so now it's reporting on all 3- yeah!
My EX jumped 6 pts. I'll take what I can get as it's like pulling teeth to improve that score.
10-10-2012 12:10 PM
I'd take the 6 points if you don't want them! Congrats!
10-10-2012 12:15 PM
I am sending in the money in a couple days... after all my removals, over 10!, my fico has DROPPED LIKE 50 POINTS!!!! I was crushed when I saw it. But I think it's partly because what's left is weighted more heavily now and partly because the only positive TLs are a car loan since Jan and deferred school loans. So praying that a revolving TL will help me a lot. Congrats on your increase!
10-10-2012 12:28 PM
Wow, that's disheartening after all the work to get items removed!!! I read of the same thing happening to others, and you're probably right that it has to do with the age of accounts. Makes no sense though...
I hope the new credit helps!!!!
10-10-2012 12:57 PM - edited 10-10-2012 12:57 PM
I started with a US Bank Secured last month at the beginning of September. It is now reporting to all 3 bureaus (300 limit).
I just opened an Opensky for the same reason you did - no credit check. The fees, while bad, aren't as horrible as some are making it out to be. For me, the fees are worth the impact to my credit.
Though I must say since I opened the US bank secured, my scores in Trans Union and Experian have both dropped about 50 points (from 620 to 570). I'm assuming because of the average age of accounts. I'm fine with the drop, just hope to see a fast recovery as that was a little painful.