@Anonymous wrote:
What are some cards that you should just not apply for to begin with?
Apparently Santander is not a good bank to deal with so that takes the Sphere and Bravo into this category.
CreditOne has insanely high AFs for what you get and I've read bad things about their customer service so I would put their offerings on the list as well.
What else is a no-go and why?
Any card that you don’t need and provides no benefit to you, should be avoided!
I do not believe that these cards such as First Premier and all that fall into the building and/or rebuilding category should be counted out and for these reasons: 1 the credit world is changing and a large segment of the population are credit challenged. 2 although these cards have various fees, you have one year to start paying which gives that year to put a credit challenged person in a better position for some of the better cards and 3 let us face the fact that some of us need the "toy cards" as stated to become as savvy as some of our myfico forum members. The Credit Unions are a good place to start but even they have their standard credit numbers and also everybody will not be approved for everything regardless of numbers.
The only Absolute rule which we should all follow in credit is never miss a minimum payment.
Everything else, including which cards to app, how much credit to go for, how many HP to incur, how much AF to pay, and how much utilization to carry, are optional choices.
Thank you NRB 525. I think not missing a minimum payment is the start and to add, try paying more than minimum if able.
Cyber and NRB have two of my favorite points. If a card doesnt serve you or work for you, dont apply for it just to get it. Then youll be stuck with cards that will at least be sock drawered at worst cancelled and wasting a hp ( yes i know for some hps are not worth worrying about but when you are rebuilding, to me, they are valuable)
Of course the best thing to do is never miss a payment which really shows your responsibilty with said card but also helps build our score.
For me, i have learned by wasting a couple hps when i really didnt have to, if you are going to apply for something, stop and ask yourself , do i already have something i could use to purchase that or already does what im about to apply. I just use an example as if you were going to apply for a furniture store or perhaps another visa. If you realize you can use something you already have and of benefit to you, you will save yourself an hp that perhaps you can use later on. Hope that makes a little sense
Of course the best thing to do is never miss a payment which really shows your responsibilty with said card but also helps build our score.
For me, i have learned by wasting a couple hps when i really didnt have to, if you are going to apply for something, stop and ask yourself , do i already have something i could use to purchase that or already does what im about to apply. I just use an example as if you were going to apply for a furniture store or perhaps another visa. If you realize you can use something you already have and of benefit to you, you will save yourself an hp that perhaps you can use later on. Hope that makes a little sense
