Help!! First Premier CC Advice Needed

BobbyJ · ‎02-29-2008

I am awaiting Ch13 Discharge in about a month or so. I have 8 accounts in good standing since filing for Ch13 in 2003 (Okay, I know I was not supposed to get any new credit during BK but I did.).

Here are the accounts and dates opened with credit lines. No lates on any except for Orchard MC back in 2005 which was 30 days late once.

Orchard MC (4/2004) cl $300

HSBC Plat Visa (3/2007) cl $400

First Premier Visa (3/2007) cl $250

Credit One Visa (3/2006) cl $600

Juniper MC (1/2008) cl $600

Macys (2/2008) cl $100

Target (2/2008) cl $200

HC/CIT Bank (3/2007) cl $2400

My FP Visa annual fee is due on my next statement for April ($48). I just received my March statement and the due date is March 17th. Should I close this account before the April statement is issued or should I keep it open and pay the annual fee plus the monthly maint fee of $6? I will have had this account for a year in March and dont know whether to let it age another year.

What are your opinions on what I should do to help my scores? I am lost on this one.

Thanks so much for your advice and help.

BobbyJ

Message Edited by BobbyJ on 02-29-2008 06:33 PM

Message Edited by BobbyJ on 02-29-2008 06:36 PM

Anonymous · ‎03-31-2008

I say keep the card open. Just try to show some restrant and not use it. It can hurt yu more by closing it than it would by just keeping it open. This shows cc companies that you are responsible and able to maintain financial stability.

Anonymous · ‎04-01-2008

what were total charges on this acct. do you have a/f on the other cards? or any other fees?

What are your scores now?

Creditaddict · ‎04-02-2008

I say it's not worth the fees... as soon as that chapter 13 comes off, you will be opened up to Prime credit cards again and you have plenty of rebuilder cards to push your scores up to prime cards if you keep your util down.

BobbyJ · ‎04-02-2008

Hello,

I closed the First Premier card on 2-19-08. My fico went up 3 points also.

Very glad I closed it. Since then I have gotten an NFCU nRewards Visa for $4000 and a NFCU LOC for $2500.

Thanks for all of your help and responses.

Bobby

Anonymous · ‎04-04-2008

Bobby J

Can i ask you a question? I am also in a ch 13 and I now have 5 ccards trying to boost my score before my 13 is discharged... I have most of the same cards you have. Did this help boost your score while you was in the 13? Did you at least past the 600 mark? Thanks.

BobbyJ · ‎04-04-2008

Hey Chp13,

My scores were boosted because of good payment history and never being late with the cards.

My ficos in February 08 were TU-639, EQ-612 and EX-597. They have since increased a little more and will go higher soon. I also closed my First Premier before the annual fee was added. My fico went up 3 points. I was just approved for a NFCU nRewards Visa for $4000 and a NAV LOC for $2500. My BK CH13 should be officially discharged sometime on 4-11-08. I cant wait for this to be done. My scores should climb quite a bit then....

Good luck to you and be careful. I got lucky to open cards during the BK but I would recommend to be very cautious... If the trustee finds out it could jeapordize your case.

BobbyJ

Anonymous · ‎04-17-2008

Hi BobbyJ,

My Ch. 13 was discharged 2/08 (filed 10/04), and like you, I rebuilt credit during the BK -- I had/have:

(Date opened 9/05) HHB: started $300 limit, now $1000 never late

(2/06) two student loans (total $10,000)

(3/07) account with Dell $2000 limit

(4/07) unsecured installment loan with Prosper $4000

(12/07) unsecured installment loan with Prosper $4000

(2/08) Credit union LOC $1000

(2/08) Orchard Bank visa $750

(3/08) Ox Publishing $6,500

I have had no lates since 9/04 (1 month prior to the BK filing). My car is paid off so no auto loan.

My income/employment is good ($70K) and have been with the same employer 2+ years and in the same line of work 18+ years.

I cannot seem to break the $1000 credit limit mark, and it's driving me crazy! I applied for PFCU and CCCU and got turned down. Got turned down for Juniper. I did just add a merchandise card through Ox Publishing for $6,500, so that should get my ratios to about 26% once it reports.

However, I really want to increase my "real" credit availability!

I am awaiting some disputes and will pull my scores again in May to see the results.

How were you able to get high credit limit offerings/acceptance while still in the Ch. 13?? I am just curious, since I don't seem to have much luck...

I know I probably need to give things a rest for at least another month or two or three.... my fiancee and I want to buy a house within the next 3-6 months, and his middle credit score is 778! I need to try to get mine up as much as possible within the next 3 mos... (like over 680 mid)

Any suggestions anyone?

EXP: 625 4/11/08

EQFX: 616 4/11/08

TU: 564 3/25/08 (arggggg)

Anonymous · ‎04-17-2008

laurenjane wrote:
Hi BobbyJ,

My Ch. 13 was discharged 2/08 (filed 10/04), and like you, I rebuilt credit during the BK -- I had/have:

(Date opened 9/05) HHB: started $300 limit, now $1000 never late
(2/06) two student loans (total $10,000)
(3/07) account with Dell $2000 limit
(4/07) unsecured installment loan with Prosper $4000
(12/07) unsecured installment loan with Prosper $4000
(2/08) Credit union LOC $1000
(2/08) Orchard Bank visa $750
(3/08) Ox Publishing $6,500

I have had no lates since 9/04 (1 month prior to the BK filing). My car is paid off so no auto loan.

My income/employment is good ($70K) and have been with the same employer 2+ years and in the same line of work 18+ years.

I cannot seem to break the $1000 credit limit mark, and it's driving me crazy! I applied for PFCU and CCCU and got turned down. Got turned down for Juniper. I did just add a merchandise card through Ox Publishing for $6,500, so that should get my ratios to about 26% once it reports.

However, I really want to increase my "real" credit availability!

I am awaiting some disputes and will pull my scores again in May to see the results.

How were you able to get high credit limit offerings/acceptance while still in the Ch. 13?? I am just curious, since I don't seem to have much luck...

I know I probably need to give things a rest for at least another month or two or three.... my fiancee and I want to buy a house within the next 3-6 months, and his middle credit score is 778! I need to try to get mine up as much as possible within the next 3 mos... (like over 680 mid)

Any suggestions anyone?

EXP: 625 4/11/08
EQFX: 616 4/11/08
TU: 564 3/25/08 (arggggg)

The quickest way to get your score up is getting your utilization down and doing it by paying it down not just waiting for a cc limit to post

BobbyJ · ‎04-17-2008

Hey Lauren,

I guess I got lucky with the accounts I have and had never been late on any account since filing for Ch13 Bk in 2003. Got my Orchard card in 2004 and a few more in recent years. Utilization was high but now that I joined NFCU and got 2 credit cards and a LOC with high credit lines I have closed Orchard, HSBC, Credit One and First Premier... Life feels really good now.

I wonder how much my scores will go up once the BK reports as discharged?

Bobby