topic Dipping my toes into "Prime" cards in Credit Card Approvals

Dipping my toes into "Prime" cards

dallasjetfan — Mon, 28 Oct 2013 20:09:10 GMT

I had a discharged BK in 2005. So this week I decided 8 years might be enough to get some prime cards and ditch some of my builder cards. This week I asked for a CLI from Barclay's Apple Card from $3250 to $4000 and Barclays US Airways card from $8500 to $10K. Got them both!! Then I asked Cap One for a CLI that I have been denied for the last 5 years and once again denied again. Sent an email to EO and received a call today and was told they would try a manual review and I will get a response in 3-5 days. If denied I will close account.

So then I got a wild hair and decided to try for Discover IT and was approved, but not for best terms so I declined the offer. Then I tried for Citi Simplicity and was given a letter that it was in review so I called today and was approved for $2K with 18 months 0% interest. I will ask for a CLI when I receive the card. I also tried for Chase Slate card and called backdoor number and was asked a few questions about BK and credit history since. I was told he would review it and be right back. He came back and approved me for $5K with 15 months 0% interest.

I have never had "prime" cards before so I guess my BK is in the rear view mirror now. Finally!!

Re: Dipping my toes into "Prime" cards

09Lexie — Mon, 28 Oct 2013 20:13:18 GMT

Congratulations on your successful rebuild.

Regarding Discover, that's your right to decline the offer but you've already suffered the HP. If the card doesn't suit you, I would make sure they cancel the application and delete the account from your CR's.

Re: Dipping my toes into "Prime" cards

takeshi74 — Mon, 28 Oct 2013 20:14:58 GMT

...otherwise you'll take a hit to AAoA as well.

Re: Dipping my toes into "Prime" cards

dallasjetfan — Mon, 28 Oct 2013 20:18:24 GMT

I will give them a call and maybe they will reconsider giving me a better rate.

@09Lexie wrote:
Congratulations on your successful rebuild.

Regarding Discover, that's your right to decline the offer but you've already suffered the HP. If the card doesn't suit you, I would make sure they cancel the application and delete the account from your CR's.

Re: Dipping my toes into "Prime" cards

09Lexie — Mon, 28 Oct 2013 20:19:50 GMT

FWIW, Discover reduced my APR from 19.99 to 14.99 .

Re: Dipping my toes into "Prime" cards

Anonymous — Mon, 28 Oct 2013 20:22:09 GMT

@09Lexie wrote:
Congratulations on your successful rebuild.

Regarding Discover, that's your right to decline the offer but you've already suffered the HP. If the card doesn't suit you, I would make sure they cancel the application and delete the account from your CR's.

But they don't have to do that, right? The OP applied for credit, which was granted, so they are entitled to record both the HP and the new account? By cancelling the app do you removing the HP? I can see that they might not have an issue deleting the account, but removing the HP seems less likely.

Re: Dipping my toes into "Prime" cards

09Lexie — Mon, 28 Oct 2013 20:33:30 GMT

@longtimelurker

No, the HP will remain if they grant OPs request to remove the TL -assuming it even reports.

I was referring to removing the TL only.

Re: Dipping my toes into "Prime" cards

dallasjetfan — Mon, 28 Oct 2013 20:53:29 GMT

I spoke with Discover and checked on the offer and it was only for $1K which is worthless to me especially when I was approved for $2500 two years ago, but I closed when I was unable to get higher limits. Cap one had been giving me the run around and I was tired of the denials so I closed the account. The CSR said it would only count as an inquiry. After getting approved for Citi and Chase today for much higher limits says to me its possible so I will wait for my BK to drop off in two years and see if I can get best offers at that point.

Re: Dipping my toes into "Prime" cards

09Lexie — Mon, 28 Oct 2013 21:25:38 GMT

Discover can be conservative ESP if there are derogs on your CR's. So, you were approved two years ago and closed it soon after?

Re: Dipping my toes into "Prime" cards

dallasjetfan — Mon, 28 Oct 2013 21:19:25 GMT

Closed it after two CLI denials. Not to worried about it at this point. I will just keep cleaning it up and maybe re-apply in two years or maybe never again. My goal was to get a "prime" CC and I got two today so I don't really need any more. I will just try to get these as high as they will let me as I will with my CU which is the one relationship that I care about the most.

Re: Dipping my toes into "Prime" cards

Anonymous — Mon, 28 Oct 2013 21:27:09 GMT

Barclay's isn't a subprime lender. Or do you consider it subprime since you have cobranded cards?

Re: Dipping my toes into "Prime" cards

09Lexie — Mon, 28 Oct 2013 21:27:20 GMT

Discover just might be a bad fit for you. At this point you've reestablished your credit and it!s their loss.

Re: Dipping my toes into "Prime" cards

FocusedAndDetermined — Mon, 28 Oct 2013 23:22:01 GMT

Congrats on the new TL and CLis!

Re: Dipping my toes into "Prime" cards

dallasjetfan — Tue, 29 Oct 2013 02:35:47 GMT

@Anonymous wrote:
Barclay's isn't a subprime lender. Or do you consider it subprime since you have cobranded cards?

I only consider them sub prime because I got my US Airways card around the same time as my Cap One and I was just out of BK basically.

Re: Dipping my toes into "Prime" cards

dallasjetfan — Tue, 29 Oct 2013 02:39:21 GMT

@09Lexie wrote:
Discover just might be a bad fit for you. At this point you've reestablished your credit and it!s their loss.

I'm thinking that with them being consrvative and me expecting much higher CL's, its just a bad match right now. I definitely don't need all the credit cards I have and I think I will be closing my Barclays Apple Card and my Cap One account if they don't raise my CL significantly. I don't need $40K+ in credit.

Re: Dipping my toes into "Prime" cards

dallasjetfan — Tue, 29 Oct 2013 07:08:37 GMT

I'm still shocked with the Chase approval. I was initially denied but decided to contact them. First question was about BK and then I was approved. He said they don't normally aprrove with past BK's showing. Very happy they did though.

Re: Dipping my toes into "Prime" cards

dallasjetfan — Tue, 29 Oct 2013 19:17:11 GMT

I have the Apple card and since they won't offer anything on Apple products for 0% past the promo period, I decided to call and see if I could PC or just transfer CL to my US Airways card. After a few CSR's I was told they could move the CLI over so I accepted. I went from $10K to $14K. So far Barclay's has been very helpful to me. Closed the Apple Card and didn't decrease my overall CL's.

Re: Dipping my toes into "Prime" cards

dallasjetfan — Sat, 02 Nov 2013 18:14:56 GMT

Just received my Citi Simplicity card and decided to call for a CLI and was able to go from $2K to $5K. So I have increased my overall CL's by $12500 this week and obtained two "prime" cards in Citi and Chase. I might still drop Cap One. I really never thought I would be able to get this much credit post BK, but thankfully I have recovered nicely.

Re: Dipping my toes into "Prime" cards

lg8302ch — Sat, 02 Nov 2013 18:36:13 GMT

Congrats and 5K are nice limits

Re: Dipping my toes into "Prime" cards

Anonymous — Sat, 02 Nov 2013 23:46:22 GMT

Congrats. Didn't realize citi would recon like that. . Sweet!