Thank You Jlu! That was exactly what I was asking, although indirectly. Sorry. But yes that is what was confusing me. FP $300 limit with $2k limits on other cards seemingly means two things. As you stated, you are farther along with credit rebuilding, obviously based on scores. And that FP doen't give CLIs often, or many don't accept based on high fees. Thanks again. I understand now. For now I will focus on cleaning up baddies, keep my low limits on the 2 FPs, and re-app with other card companies maybe 3-6 months from now assuming all or most of baddies are gone.
Would be awesome if all 7 PFDs and the GW letter are successful! That would mean a huge jump! Lol
Ah you're welcome! I was beginning to wonder, haha. I had 6 or 7 baddies too when I started and managed to GW/PFD down to 2 - so it is definitely worth the effort. Once you're firmly in the 600 club I'd get a GECRB backed card (Walmart, Amazon, Old Navy etc). Then when you're in the mid to upper 600's you can test your hand at a Zync or Freedom card. At least that is what I would do.
Yes, I will definitely be following that advice!
I wrote everything is negotionable because of the following:
I read somewhere that FP reps give out credits for higher payments, so I stopped paying in full via automated system a couple months ago and started calling in to reps a couple days before due date, and 'asking' what my balance and minimum payment is as if I didn't know, then telling them I will simply pay the minimum through the automated system to avoid their fee. Surprisingly, the rep offered to waive the fee($11) AND add a $50 credit to my payment if it is $125 or more! For both cards! Did it last month and thought that would be it, but just got off phone with rep after doing it again! Balances on both cards are usually $225-$275 monthly, but I usually always PIF. But these past two months I've been paying $50 less on each card saving $100! Its like I've been given $200 over the past two months, which is great because technically my yearly fees just paid for themselves and more! Lol. Don't know how long it will last though..
Wow I will have to remember that. On a $200 balance that is like getting 20% cash back!
Exactly! Will ride that wave while its high!
Btw, how long can I expect to deal with these collections? Looking to clear ASAP, for new auto loan that will be needed soon.
7 years + 180 days from date of first major delinquency unless you can get them to PFD or GW.
Oops, rephrasing the question...
How long did it take you to get YOUR accounts PFD and GWed? Ive already started the process.
They sent me a offer for $750 and 150 fees and annual fees and monthly service fee add up after a years is 300 fees with 36% ApR and my credir score is 657 . I were like heo to the nooooooooooooo.............rip off card....stay away from them....
150 in fees for a CC? No way