topic Re: Cards based on Score in Credit Cards

Cards based on Score

terrymurph — Sun, 06 Dec 2009 21:15:24 GMT

Which cards give a high cl based on score like instant approvals instead of the long tedious manual review. I would like to know because i have an old CO showing but other then that my credit report is clean. Also my mother is going to add me on to an 11 yr old cc account with a 17000 limit and no reporting balance. YAAAAAAAAYYYYYYYYYYYYYYYYYY. lol

Re: Cards based on Score

timber — Sun, 06 Dec 2009 21:47:42 GMT

You're most likely to score the highest CL with credit unions, but some are not necessarily going to be instant approvals. The ones that do instant are Navy Federal (if eleigible) or Alliant CU. You also might give Barclays/Juniper a try.

Re: Cards based on Score

terrymurph — Sun, 06 Dec 2009 22:07:30 GMT

Thank you for the quick reply does anyone else have any suggestions.

Re: Cards based on Score

BungalowMo — Mon, 07 Dec 2009 00:00:38 GMT

Just out of curiosity, when is the CO due to drop?? Is it PIF?

Re: Cards based on Score

Anonymous — Mon, 07 Dec 2009 01:01:44 GMT

It depends what you consider a high CL.

Also, those that provide instant approvals, don't always instant approve.

For example: I applied for Navy Federal Cash Reward Visa. It took 5 days for my approval, which was $25,000. So I got a high CL, but I had to send in paystubs.

High CL's are not just FICO. It is actual credit contents plus income and FICO.

Re: Cards based on Score

Anonymous — Mon, 07 Dec 2009 01:57:08 GMT

@Anonymous wrote:
It depends what you consider a high CL.

Also, those that provide instant approvals, don't always instant approve.

For example: I applied for Navy Federal Cash Reward Visa. It took 5 days for my approval, which was $25,000. So I got a high CL, but I had to send in paystubs.

High CL's are not just FICO. It is actual credit contents plus income and FICO.

Way to go on ur credit scores..Im pretty sure u worked hard at it keep it up!

Re: Cards based on Score

terrymurph — Mon, 07 Dec 2009 04:54:04 GMT

It is due to drop of in june of 2012 and no it is not PIF. I do not want to pay it since its so close to coming off.

Re: Cards based on Score

Anonymous — Mon, 07 Dec 2009 07:30:57 GMT

It's not that close to coming off and you are going to find that an unresolved baddie like an unpaid CO is going to greatly hamper your further quest for unsecured revolving credit. Best of luck.

Re: Cards based on Score

terrymurph — Mon, 07 Dec 2009 13:29:19 GMT

Will it help or lower my score if i pay it. The simulator says i will gain points.

Re: Cards based on Score

Jazzzy — Mon, 07 Dec 2009 14:31:45 GMT

@terrymurph wrote:
Will it help or lower my score if i pay it. The simulator says i will gain points.

Have you approached them with a pay for delete request? You may be able to settle for a lesser amount...and you may have it disappear for good. It's worth a try...

If you can work it that way, it will help your score.

Re: Cards based on Score

Anonymous — Mon, 07 Dec 2009 16:01:21 GMT

If you attempt to settle this account for less than the due balance it will most likely continue to report on your CBR until the fall off date with a derogatory comment. Settled accounts are bad. Plus, if the account is still with the OC you may get a 1099 form for the amount you settle away.

Re: Cards based on Score

Jazzzy — Mon, 07 Dec 2009 16:06:50 GMT

Hi CWCID...that's why I specified pay (or settle...) for delete. If no delete...then no pay, as far as I'm concerned, for precisely the reasons you mention.

Re: Cards based on Score

Anonymous — Mon, 07 Dec 2009 16:45:39 GMT

@LynetteM wrote:
Hi CWCID...that's why I specified pay (or settle...) for delete. If no delete...then no pay, as far as I'm concerned, for precisely the reasons you mention.

Even if you settle for delete the OC is supposed to (by law) send you a 1099 for the benefit of the bargain. It is income.

Re: Cards based on Score

Jazzzy — Mon, 07 Dec 2009 16:55:04 GMT

@Anonymous wrote:
@LynetteM wrote:
Hi CWCID...that's why I specified pay (or settle...) for delete. If no delete...then no pay, as far as I'm concerned, for precisely the reasons you mention.
Even if you settle for delete the OC is supposed to (by law) send you a 1099 for the benefit of the bargain. It is income.

Hi CWCID...I realize that. But...if you are saving money on the pay for delete by settling...then, paying tax on the difference between the amount due and the settled-for amount is still cheaper than paying the full amount. You would only be paying a portion of the forgiven amount instead of the full amount.

And...at this point...if it is close to falling off, I wouldn't mess with it at all unless I could get it deleted for good.

Re: Cards based on Score

IrishPM — Mon, 07 Dec 2009 17:51:29 GMT

I have clean reports with average age of account around 7.8 months and oldest account clocking in at 27.4 years. My FICO is TU 714 and EQ at 690 and was just approved for the Harley Davidson Rewards Visa card with a CL of $4,000. APR is 13.99%.....no annual fee. I wanted to have another rewards card in my wallet and after I was solicited by HD for the card (they sent me a promo offer in my monthly statement for my motorcycle), I decided to apply. Was turned down initially but called CSR and had the card in hand in 5 days. Not sure what all of the deciding factors is for approval but the CSR did tell me that US Bank (card issuer) looks at more than just your FICO score....US Bank pulled Experian which it's anyone's guess as to what that score is since you can't get it anymore other than the FAKO kind.....freecrditreport.com is showing my FAKO Experian at 764 which doesn't really mean anything to me.

Re: Cards based on Score

terrymurph — Mon, 07 Dec 2009 18:38:34 GMT

I have tried a PFD and having it re-aged as paid as agreed and an intent to sue letter. They have turned down the first PFD and RE-age offers. So now i am preparing to take them to small claims court for laws the have broken and their illegal debt collection practices.

Re: Cards based on Score

terrymurph — Mon, 07 Dec 2009 18:40:07 GMT

Thanks IrishPM for the helpful information.