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Just remembered I received a letter several years (4 or 5) back about applying for a Visa card with my union (UFCW) BUT it's with Cap1 now-I don't think it was back then. For this reason, and a couple others I'm strongly considering at some point-not necessarily now-getting back in good with Cap1. I had 3 cards with them YEARS ago when they first started and managed to screw all 3 of them up and they ended up in public collections. The last was paid off in 2009. I'm thinking of apping for a platinum card (where I left off with them)-even though I know it will be denied and possibly have to do a recon. I know this b/c I used their card finder feature and didn't get any pre-qual offers. But I want to ask here first: 1. If I go for it should I apply for secured or unsecured? 2.Do they DEFINITELY do a triple pull when apping? 3. What are my chances of being accepted? I have a checking acct with them also (since they took over Chevy Chase bank a few years back) and have messed up on it quite a few times-but it's still oopen and currently in good standing. My Fico scores are EX-645 TU-704 EQ-690 and I just opened 7 new accts. within the last month: Sears, Best Buy, Wal-Mart, Pay Pal SC, Discover IT, BP/Chase gas card, and a Visa with my CU.
Based on your 7 new accounts doesn't seem like another small card with capital one would be worth it at all unless you can link it for overdraft on your checking or something. Otherwise I would not apply for anything.
Yeah, 3 INQ'S is a BIG-BIG HIT to take for a possible denial or a low limit. But was also thinking since I had 3 public actions with them within the last 8 or so years, If lenders saw I was back in with them again-even with a low limit-it MIGHT take some of the sting out of the old collections. That could almost make it worth if it did (take the sting off). Those 3 old collections with them are the MAIN items on my reports holding me back credit-wise as of right now-so I've been told. Thanks for your opinions everyone.
@Credit-hoarder wrote:Yeah, 3 INQ'S is a BIG-BIG HIT to take for a possible denial or a low limit. But was also thinking since I had 3 public actions with them within the last 8 or so years, If lenders saw I was back in with them again-even with a low limit-it MIGHT take some of the sting out of the old collections. That could almost make it worth if it did (take the sting off). Those 3 old collections with them are the MAIN items on my reports holding me back credit-wise as of right now-so I've been told. Thanks for your opinions everyone.
IMHO if you garden for the next 9-12 months you won't need any secured cards. You have started a relationship with Discover and Chase which if you prove yourself with them to be responsible you will be in a better position for all lenders
@myjourney: Yes I am VERY-EXTREMELY greatful to be in with Discover, Chase, AND Citi (with Sears and Best Buy store cards). Although it would have been great if I would have been accepted by AMEX a few days ago also. I guess it's too soon for that-LOL
@Credit-hoarder wrote:@myjourney: Yes I am VERY-EXTREMELY greatful to be in with Discover, Chase, AND Citi (with Sears and Best Buy store cards).
Sit on what you have now and I think you will be good to go