topic Re: Should I take this offer or leave it? in Bankruptcy

Should I take this offer or leave it?

Elexismc — Fri, 06 Jun 2014 14:31:54 GMT

I was discharged on 6/4(big weight lifted off my shoulders!). I have read a lot on rebuilding here, and am so excited and impressed by the stories I've read. I would love to start rebuilding, but I think I've burned all of the "suggested" cards to start with. I did get a pre-approval for CreditOne, but I haven't heard great things about them at all. I know it's kind of early to start just yet(with my discharge being so new), but I'm curious to see if anyone has any suggestions on where to begin. I have already cleaned up my credit reports and everything is reporting correctly. Should I take the CreditOne offer? Interest rate would be 17.9% and it has a $39 annual fee which isn't terrible considering my current credit status. Any information would be appreciated. Thank you!

Re: Should I take this offer or leave it?

0REDSOX7 — Fri, 06 Jun 2014 15:58:24 GMT

Absolutely take it - yes the rate is high and the annual fee sucks - but - you just go out of BK...its the price we're gonna pay.

I did it - and after three months of having it (I got discharged in February) - my score has gone up up and up and am finally above 615!

Re: Should I take this offer or leave it?

Elexismc — Fri, 06 Jun 2014 16:02:51 GMT

Thank you! That's how I felt too, but I have heard so many horror stories about them-although since I don't plan on carrying a balance, how bad can it actually be, right?

Re: Should I take this offer or leave it?

0REDSOX7 — Fri, 06 Jun 2014 16:05:52 GMT

Use it, pay your bill on time and you won't have any issues.

Re: Should I take this offer or leave it?

Elexismc — Fri, 06 Jun 2014 16:11:54 GMT

Took the plunge...only $300 but who am I to complain this soon out of bankruptcy? Thank you again!

Re: Should I take this offer or leave it?

Anonymous — Fri, 06 Jun 2014 17:48:45 GMT

I would suggest to try cap one. I applied on the day of my discharge and was approved for $2k w no fee.

Re: Should I take this offer or leave it?

Elexismc — Fri, 06 Jun 2014 17:59:27 GMT

They were one of the ones I burned in my bankruptcy.I had quite a few of their accounts since they acquired some of my other accounts over the years. I plan on trying with them in about six months or so

Re: Should I take this offer or leave it?

Anonymous — Mon, 04 Aug 2014 20:50:07 GMT

Another one to try is First Premier. The only draw backs are you have to pay a $95 activation fee and the $75 annual fee is put on the credit card when you get it. But, just coming out of BK, theres not much else we can do.

Re: Should I take this offer or leave it?

Elexismc — Mon, 04 Aug 2014 20:53:21 GMT

Well I got some good news after paying the first bill($35 annual fee) they already gave me a cli to $400...First Premiere keeps sending me those offers....I had them when I was 18 and I don't think their fees have changed much lol! Thank you for the advice...if I can't get back in with Capital One I may have to go that route!

Re: Should I take this offer or leave it?

Anonymous — Mon, 04 Aug 2014 21:04:26 GMT

@Elexismc wrote:
Well I got some good news after paying the first bill($35 annual fee) they already gave me a cli to $400...First Premiere keeps sending me those offers....I had them when I was 18 and I don't think their fees have changed much lol! Thank you for the advice...if I can't get back in with Capital One I may have to go that route!

Did you request an increase or did they just give it to you?

Re: Should I take this offer or leave it?

ezdriver — Mon, 04 Aug 2014 21:06:52 GMT

@Elexismc wrote:
Thank you! That's how I felt too, but I have heard so many horror stories about them-although since I don't plan on carrying a balance, how bad can it actually be, right?

What horro stories? Whoch of those stories apply to you? Credit cards should not be used as a financing tool ... period. If you have to use a credit card as a financing tool, then you are not ready for credit ... in my opinion. Who cares what the rates are is the bill will be paid each month?

Re: Should I take this offer or leave it?

Elexismc — Mon, 04 Aug 2014 21:07:57 GMT

They just did it...I paid the bill and kept checking to see when the payment had cleared and was reflected in my available credit(they usually take a few days to make it available even though the payment posts pretty quickly) and I noticed I had $400 available instead of $300!

Re: Should I take this offer or leave it?

Elexismc — Mon, 04 Aug 2014 21:11:49 GMT

Well the more I read the more I realized that the "horror" stories came from people who more or less were not responsible with the card or simply didn't understand what they were getting into when applying for a rebuilding card...I have zero complaints an as long as I continue to stay responsible I think the card will work for me just fine

Re: Should I take this offer or leave it?

0REDSOX7 — Tue, 05 Aug 2014 00:41:31 GMT

Same with me and Credit One.

I knew what I was getting into... What the fees were and the way interest was charged...

They helped me with my rebuild by giving me a card when no one else would and the rewards have already paid off with my score and my rebuild...

Re: Should I take this offer or leave it?

Elexismc — Tue, 05 Aug 2014 00:44:29 GMT

I couldn't agree more! I am very thankful for getting a second chance!

Re: Should I take this offer or leave it?

todobetter — Tue, 05 Aug 2014 15:20:26 GMT

One month after discharge both my husband and I got 400.00, trying to work the plan on here so we charged 7.00 let it bill and paid it. We received a notice they gave us a 200.00 credit increase. I was shocked.

Re: Should I take this offer or leave it?

Elexismc — Tue, 05 Aug 2014 15:27:58 GMT

I'm hoping it grows with me a bit over time...I know I shouldn't expect anything overnight, but I am definitely going to do everything I can to make that happen!