Pre-approved questions?

[Anonymous]

I have revamped my credit history and I am on the up and up, I have been doing everything correctly (paying bills on time ; etc...things of that nature) So I have a credit card that i have been using and i recently got a e-mail saying that I was pre approved for another one (same company) due to excellent payment history.

Do I choose the red pill (claim the card) or the green pill (go on like it never happened)? 

Since its pre-approved and guaranteed, will it ding the score?

Has anyone dealt with first premier bank (my second  card)?

Any suggestions? Any info?

Assets

Message Edited by Assets on 04-05-2008 02:37 AM

[Anonymous]

What are your scores??? And no I would not do a second 1st Premier card. The fees are horrible. Depending on your scores you could do so much better. And with that said I'm sure they've got some super fees involved with that offer.

[Anonymous]

Assets, if the email offer was from First Premier, in my opinion, there are several cc's out there that are a more suitable alternative.

I'd pass on the offer if I were you. They are just to predatory in their lending practices.

[Anonymous]

Scores are as follows: TU-618, EQ-624, EX-578

I am just waiting on numbers to go up?  I am gonna hold off then, Thanks for the advice...if you got any links or know any cards with better rates that FP...send them this way...for future reference

Trying to flush the baddies out with goodies...lol

Assets

[Anonymous]

Maybe Capital One? I don't know how they are with public records, but I know they gave dh and I cards when our scores were about the same as yours.

[haulingthescoreup]

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@Anonymous wrote:

Scores are as follows: TU-618, EQ-624, EX-578

I am just waiting on numbers to go up? I am gonna hold off then, Thanks for the advice...if you got any links or know any cards with better rates that FP...send them this way...for future reference

Trying to flush the baddies out with goodies...lol

Assets

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I think that you edited out some info on your first post (which is fine), so I don't know what baddies you have. I would say, keep working on your stuff, whatever it is, keep all but one card paid off and that one card under (not at) 10% of its CL, and let time help your scores out a bit more.

Once your scores are in the 600's, especially EX, go to the Bank of America website, click "credit cards" and click "You may be preapproved..." But I would definitely first get the scores up. If you can get the BofA secured or partially secured card, that is your best way of getting fast-tracked for good cards in the future.

[Anonymous]

Thanks for the information, I know that time will definitely be a factor regarding the credit scores, I think I am doing fine without a credit card but another positive TL on my report wouldn't be bad either.  I defaulted (youthfulness) on a car loan which i have PIF and i am working on removing this baddie from the report. When I started in Nov I set a reasonable goal of 650 in one year (score range  530-550).  Once attained I may  decide to do some credit diving.  Right now I want to see whats available.  I wait with Zen like patience with my legs crossed waiting for that day

thanks again

feel free to send any info

Assets

[Anonymous]

Try Liberty Bank and Trust...my EQ score was similar to yours and they gave me a card with a $1000 limit whereas Cap One, Credit One, and Orchard were all giving me $200 and $300 limits. You apply online, they'll send you your approval terms (assuming you're approved) with a manual app for you to complete and return and you'll have your card in a few days.

www.libertybank.net