topic Re: You know your credit scores stink when... in Credit Cards

You know your credit scores stink when...

Anonymous — Wed, 12 Apr 2017 23:48:31 GMT

You get a "pre-selected" offer for the Reflex MasterCard.

30.74% APR
$125 annual fee
AND $120/yr for monthly maintenance fees.

Yikes!

The 3 big advantages of this card are:
*use your card everywhere MasterCard is accepted
*free online account access
* monthly reporting to all 3 credit bureaus

While I may have had scores bad enough to warrant such offers, I'm happy to say they've never been so bad that I would accept.

Re: You know your credit scores stink when...

TiggerDat — Thu, 13 Apr 2017 00:04:37 GMT

I used to get offers like this even when I had some better cards. I used to laugh when it would happen. Long, long ago I actually made the mistake of opening a First Premier card. A very short time after I got the card and read the terms I realized it was a stupid mistake, so I called and closed the account and got the annual fee reversed. I now know it would simple be better to save a bit of money if I ever tank my credit again and open a secured card. The trick to this is not actually get yourself into a situation where you must have credit, but instead control yourself enough to use a secured card to build credit.

Re: You know your credit scores stink when...

Anonymous — Thu, 13 Apr 2017 00:18:20 GMT

Lol i have amex, 3 cap ones, nfcu loans and today i get pre selected verge which i never heard of

Re: You know your credit scores stink when...

ChargedUp — Thu, 13 Apr 2017 00:25:21 GMT

@Anonymous wrote:
Lol i have amex, 3 cap ones, nfcu loans and today i get pre selected verge which i never heard of

I got pre-approvals from Verve, Credit One, Amex PRG, Citi DC and BofA Alaska and Chase FU.... all in the same day

Re: You know your credit scores stink when...

thummel — Thu, 13 Apr 2017 00:27:25 GMT

I like how they usually say free online access. Don't know why but I think its hilarious. What you want us to pay every time we access our account online?

Re: You know your credit scores stink when...

Anonymous — Thu, 13 Apr 2017 00:33:27 GMT

@thummel wrote:
I like how they usually say free online access. Don't know why but I think its hilarious. What you want us to pay every time we access our account online?

Sshhhh! Don't give them any ideas. I can see someone in a First Premier board meeting saying, "Hey, why don't we charge them $1 every time they access the online portal?"

Re: You know your credit scores stink when...

jamesdwi — Thu, 13 Apr 2017 00:34:43 GMT

I use those offers as a reminder to stay in the garden and take care of the cards I have. Serious these guys have no idea of what is on my report, am I really going to jump at a 1500 limit of which $300 will be used for fee's and expenses.

731 EQ

746 TU

723 EX

AAoA 4 years 10months

Newest card 6 months old.
over 250k of total credit limit.
17% UTL reporting, coming down just waiting for report updates, but still too high

Re: You know your credit scores stink when...

AverageJoesCredit — Thu, 13 Apr 2017 01:49:18 GMT

Reflex must be that bad taste you get when you're on the Verve of accepting a Credit One offer from your very First Premier Big Boy Bank

Re: You know your credit scores stink when...

fltireguy — Thu, 13 Apr 2017 01:53:15 GMT

AJC - I can almost feel the RUSH now

Re: You know your credit scores stink when...

Anonymous — Thu, 13 Apr 2017 02:08:32 GMT

I don't have had credit just a short thin file and I've got the offer for this card. Everytime I get a offer from these sub prime lenders goes straight to be shredded.

Re: You know your credit scores stink when...

JimmyWayne — Thu, 13 Apr 2017 02:52:26 GMT

I get Credit One crap in the mail 1-2 times a week, and recently they've been attacking my email too 😱

I received an offer for something called First Savings Bank last week... yeah like I'm going to get that. Lol

Re: You know your credit scores stink when...

Anonymous — Thu, 13 Apr 2017 03:13:31 GMT

Sometimes I wonder where they get these mailing lists. DW has a Amex BCP card with 5 figure limit but last week got a 1st Premier Mail piece offering her $1,000 card.

I could not believe it.

Re: You know your credit scores stink when...

Anonymous — Thu, 13 Apr 2017 06:20:03 GMT

I have an extended fraud alert and am of course opted out of pre-selected offers... somehow credit one has a pre-selected offer for me every month lol

Re: You know your credit scores stink when...

bizarrocreditworld — Thu, 13 Apr 2017 11:34:36 GMT

The Reflex Card? My reflex is to put that in the "shred immediately before it infects the other credit cards" file. Sounds like one of those situations when you find out you've won a lousy first prize and you wonder 'What's second prize?".

I'd rather receive a letter in the mail saying I've been pre-rejected for a real card than be pre-approved for something like this.

In all seriousness, once you have better cards, you can look at things like this and laugh.

Re: You know your credit scores stink when...

Anonymous — Thu, 13 Apr 2017 11:52:35 GMT

@thummel wrote:
I like how they usually say free online access. Don't know why but I think its hilarious. What you want us to pay every time we access our account online?

That's exactly what I was thinking!

Then, I remembered back when I bought my previous SUV, I would read the vehicle descriptions and laughed at the ones listing "Cup holders" Thinking, how bad is it that the primary feature of your vehicles is cup holders...every vehicle has cup holders now days...then prompty bought one that did not and I didn't realize it until I just bought an over-priced coffee drink in my new (to me) and had no where to put it.

Won't be long and one of these sub-prime will be charging for online access.

Re: You know your credit scores stink when...

Anonymous — Thu, 13 Apr 2017 11:54:41 GMT

@jamesdwi wrote:
I use those offers as a reminder to stay in the garden and take care of the cards I have. Serious these guys have no idea of what is on my report, am I really going to jump at a 1500 limit of which $300 will be used for fee's and expenses.

731 EQ
746 TU
723 EX

AAoA 4 years 10months
Newest card 6 months old.
over 250k of total credit limit.
17% UTL reporting, coming down just waiting for report updates, but still too high

Agreed! I am rebuilding and did have terrible credit in the past couple years. I have decent cards now and am keeping myself firmly locked in the garden allowing them to grow rather than applying for new ones. Especially new ones with interrest rates over 30%!

Re: You know your credit scores stink when...

Anonymous — Thu, 13 Apr 2017 12:00:29 GMT

@bizarrocreditworld wrote:
The Reflex Card? My reflex is to put that in the "shred immediately before it infects the other credit cards" file. Sounds like one of those situations when you find out you've won a lousy first prize and you wonder 'What's second prize?".

I'd rather receive a letter in the mail saying I've been pre-rejected for a real card than be pre-approved for something like this.

In all seriousness, once you have better cards, you can look at things like this and laugh.

Fortunately, I am already there. My credit has only improved to Fair but several cards have been willing to give me a chance so I am sticking with them to prove myself so that I don't have to accept offers like this. I posted it because I thought it funny (and a bit sad for the people who are desperate enough to get it then end up stuck).

I only open the pre-approvals just to see how bad they are. This was the worst I've seen so far. It's now confettei that I can use for mulch in my garden.

Re: You know your credit scores stink when...

sarge12 — Thu, 13 Apr 2017 12:26:40 GMT

@Anonymous wrote:
You get a "pre-selected" offer for the Reflex MasterCard.

30.74% APR
$125 annual fee
AND $120/yr for monthly maintenance fees.

Yikes!

The 3 big advantages of this card are:
*use your card everywhere MasterCard is accepted
*free online account access
* monthly reporting to all 3 credit bureaus

While I may have had scores bad enough to warrant such offers, I'm happy to say they've never been so bad that I would accept.

The sad thing is this still sounds like a better deal than the barclaycard luxury gold card offer I recieved with it's 995 dollar annual fee. The insane offers seem to exist for the lowest credit scores, and the highest credit scores, sanity lives in the middle.

Re: You know your credit scores stink when...

Anonymous — Thu, 13 Apr 2017 12:27:07 GMT

I got one of those junk Reflex offers the other day too. Really now, an annual fee plus a monthly maintenance fee? Not to mention the obscene APR? I'd have laughed at that offer sixteen months ago while going "Oh wait, you're serious! Let me laugh even harder!" like Bender the Futurama robot when I was starting to seriously look at rebuilding my credit. Now that I have three unsecured cards (including one of the cream of the crop - the Discover It), a secured card, and a used-car loan, and a decent prospect of more once I've spent some time gardening, my reaction is a simple "lolnope". At least Merrick Bank actually made a serious offer that would have been worth considering at the beginning of my rebuilding. These clowns, though...I'm rather amazed they haven't been taken action against yet. Jackals, pure and simple, and I bet they were looking at my soft-pull TU number which is currently the lowest of the three (but ought to improve now that Discover has finally been added and Penfed should too once my first payment posts).

Re: You know your credit scores stink when...

Anonymous — Thu, 13 Apr 2017 12:32:18 GMT

@sarge12 wrote:
@Anonymous wrote:
You get a "pre-selected" offer for the Reflex MasterCard.

30.74% APR
$125 annual fee
AND $120/yr for monthly maintenance fees.

Yikes!

The 3 big advantages of this card are:
*use your card everywhere MasterCard is accepted
*free online account access
* monthly reporting to all 3 credit bureaus

While I may have had scores bad enough to warrant such offers, I'm happy to say they've never been so bad that I would accept.
The sad thing is this still sounds like a better deal than the barclaycard luxury gold card offer I recieved with it's 995 dollar annual fee. The insane offers seem to exist for the lowest credit scores, and the highest credit scores, sanity lives in the middle.

My first impulse when I saw this post was to tell you that April Fool's Day was 13 days ago. Nine hundred and ninety-five dollars per year just to use that card?!?!

Seriously, either you're pitifully desperate or you're the type of person who literally lights their cigars with $100 bills if you take an offer for that card.