topic Re: CHASE BP Card...closing my account in Credit Cards

CHASE BP Card...closing my account

Anonymous — Thu, 15 Jul 2010 19:15:10 GMT

Does anyone know who what i can do to keep my BP CHASE card account open. Have had the account since 2007 with the same lame 240 CL. I always use and pay over the min. every month. No lates ever. Never given a CLI and never requested one. Now they are saying that my utilization is too high so they are not re-issuing me another card. Should I fight for this card or just let it go and hope that my scores dont take that much of a hit? I am now trying to re-build my credit to hopefully purchase a home within a year and this really blows!!!!

Re: CHASE BP Card...closing my account

Anonymous — Thu, 15 Jul 2010 20:26:24 GMT

What are balances and limits on your accounts?

Re: CHASE BP Card...closing my account

Anonymous — Thu, 15 Jul 2010 20:36:23 GMT

I have a home depot w/ 750 CL $50 bal. BP card 240 CL with $140 balance....no other credit cards...all other accounts are student loans that are deferred. I few derog paid accounts and more than enough derogs that Im currently paying and disputing.

Re: CHASE BP Card...closing my account

Anonymous — Thu, 15 Jul 2010 21:07:23 GMT

It should not hurt credit score, once you pay it off. It is a positive account with 3 years of good history, which will report for another 10 years. If you pay off the balance, you might have a shot at reconsideration.

On the other hand, you probably should need a major credit card or 2 to improve your credit portfolio. I think that might more important.

Re: CHASE BP Card...closing my account

ngerasimatos — Thu, 15 Jul 2010 21:13:39 GMT

What are your scores currently? Do you need this card badly?

Re: CHASE BP Card...closing my account

Anonymous — Thu, 15 Jul 2010 21:24:22 GMT

My scores are 598EQ, 593EX, and 590 TU. I applied for a Capital one card and they offered me the secured card. I will just go ahead and take that and hopefully that will push my scores over 600.

Re: CHASE BP Card...closing my account

ngerasimatos — Thu, 15 Jul 2010 21:26:33 GMT

I would instead contact a local CU that offers a rebuilder card or secured card and go with them. Crapital One will never grow with you and a CU card can.

Re: CHASE BP Card...closing my account

Anonymous — Thu, 15 Jul 2010 21:33:04 GMT

@Anonymous wrote:
My scores are 598EQ, 593EX, and 590 TU. I applied for a Capital one card and they offered me the secured card. I will just go ahead and take that and hopefully that will push my scores over 600.

The capital one card will add unsecured limits over time. That is growth that no other major bank offers. I think it will be big help.

Finding a good CU with secure cards is also good idea. Of course, you can do both. .

Re: CHASE BP Card...closing my account

Anonymous — Thu, 15 Jul 2010 21:35:22 GMT

I think I will have to agree about Cap1 card. I have heard a lot of folks complain about their cards. CU's are good too, but I get no love from mine. I say that because I had a card with my credit union about 8 years ago. It went into collections and was paid off after derog. When I applied again last year they denied me for a secured card. What about US Bank. I just opened an account with them and I think a bank would be better than a CU.

Re: CHASE BP Card...closing my account

ngerasimatos — Thu, 15 Jul 2010 21:36:42 GMT

I think a CU is better for a rebuilder card. Big banks are not flexible IMO

Re: CHASE BP Card...closing my account

BungalowMo — Fri, 16 Jul 2010 20:02:04 GMT

@Anonymous wrote:
My scores are 598EQ, 593EX, and 590 TU. I applied for a Capital one card and they offered me the secured card. I will just go ahead and take that and hopefully that will push my scores over 600.

Where did you get your scores?? I ask because we have not been able to purchase our EX FICO's since Feb 09.

Re: CHASE BP Card...closing my account

Anonymous — Fri, 16 Jul 2010 20:06:34 GMT

I believe these are not my true FICO scores. I subscribe to transunions truecredit.com for my credit info.

Re: CHASE BP Card...closing my account

BungalowMo — Fri, 16 Jul 2010 20:39:50 GMT

@Anonymous wrote:
I believe these are not my true FICO scores. I subscribe to transunions truecredit.com for my credit info.

Yeah...those are FAKO scores. The reports are accurate tho.

Have you tried sending GW letters for the baddies?? Clean up before rebuilding is always the best approach.

Re: CHASE BP Card...closing my account

Anonymous — Fri, 16 Jul 2010 21:04:34 GMT

Thanks for the info. They have been sending me payoff and settlement letters. I am paying them off one by one, just need to make sure they delete the collections once they are paid.

Re: CHASE BP Card...closing my account

Anonymous — Fri, 16 Jul 2010 21:30:05 GMT

@Anonymous wrote:
I think I will have to agree about Cap1 card. I have heard a lot of folks complain about their cards. CU's are good too, but I get no love from mine. I say that because I had a card with my credit union about 8 years ago. It went into collections and was paid off after derog. When I applied again last year they denied me for a secured card. What about US Bank. I just opened an account with them and I think a bank would be better than a CU.

USBank is great - I think you'll be better off cleaning up your credit a tad more before you app with them. Having that account open and letting it age, along with a cleaned up report, will have you looking good in their eyes. They're pretty highly respected, so you'll want to put your best foot forward and keep them around for a very long time. They will, by the way, soft your credit reports and offer you a card when they think you're ready.

Re: CHASE BP Card...closing my account

Anonymous — Fri, 16 Jul 2010 21:59:06 GMT

I like US Bank as well, but probably harder to qualify for than Cap1. Either or both will get you the credit history you need for a future mortgage.

Re: CHASE BP Card...closing my account

BungalowMo — Fri, 16 Jul 2010 22:03:33 GMT

@Anonymous wrote:
Thanks for the info. They have been sending me payoff and settlement letters. I am paying them off one by one, just need to make sure they delete the collections once they are paid.

The creditors are NOT obligated to delete anything once paid. The only thing they have to change is the balance amounts. That is why you need to send them GW letters.

Who are the baddies from???

Re: CHASE BP Card...closing my account

Anonymous — Fri, 16 Jul 2010 23:08:21 GMT

I have baddies with Ballys, first premier bank, meta bank, AT&T ( which I totally dispute) all for balances owed well under $1000K. The ballys is the highest with $900 owed. a cell phones bill. Where can I get example good will letter?