topic Re: Subprime credit cards....what now? in Credit Cards

Subprime credit cards....what now?

unlucky_hove — Mon, 08 Nov 2010 21:54:28 GMT

I recently applied for the AMEX Zync and i was quickly rejected the reason............My experian plus score is too low, and this is the kicker

"Our analysis of the credit risk associated with customers who have accounts with the creditor(s) indicated in your credit report. (Experian) ."

What!!! I have the following accounts credit card accounts:

1) Orchard bank mastercard

2) Two Cap one mastercards's

3) HSBC master card

4) Credit one visa

5) Credit union visa

I checked my experian plus score and it is at 689 (kinda low i guess). I have since closed the credit one account (tired of annual fee).

My question is this.....Are creditors now going to start rejecting applications based on dealings with subprime lenders? Rebuilding is going to be even more difficult than it alreadly is, and im in serious trouble.

Re: Subprime credit cards....what now?

Anonymous — Mon, 08 Nov 2010 22:08:32 GMT

I believe it is because you have Credit One credit card. I know someone who got denied and it was because he had that card too. Sorry.

Re: Subprime credit cards....what now?

unlucky_hove — Tue, 09 Nov 2010 00:04:05 GMT

Hmmmm i wonder when it reports as closed would that make a difference. Well i guess ill have to wait and see.

Re: Subprime credit cards....what now?

elaine829 — Tue, 09 Nov 2010 00:54:42 GMT

I actually got approved for a amex blue back in August, I have a credit one bank account. After I pay it off I will be getting rid of it. MY scores at time was 680 equifax and 660 transunion. But that is my only sub prime card I have.

Re: Subprime credit cards....what now?

Anonymous — Tue, 09 Nov 2010 01:21:10 GMT

Credit One seems by no means as bad as First Premier about which I have heard a lot of bad stories here.

Incidentally, are Credit One and Capital One associated with each other? Their logos look kind of similar.

Re: Subprime credit cards....what now?

KIPPIE12 — Tue, 09 Nov 2010 10:08:44 GMT

@Anonymous wrote:
Credit One seems by no means as bad as First Premier about which I have heard a lot of bad stories here.
Incidentally, are Credit One and Capital One associated with each other? Their logos look kind of similar.

No, they are in no way associated with each other. Two different financial institutions altogether. Credit One used to be, i believe, First National Bank of Marin, in the bay area of SF, before changing to Credit One Bank some years ago.