So whats the point???

[theo78]

So I have 4 open CC accounts 2 with First Primeire and 2 with HSBC (had a 5th with Salute but they closed my account for no reason) all of them have Very small balances and REDICULUSLY low credit limits. All but one of the HSBCs have been open 1 1/2 -  2 years. The newest HSBC is about 5 months old. all of the accounts including the Salute hav all been paid on time. I currently have a 618 with TU and a 620 with EQ.

I have a charged off account with Cap one from 2005 with a "balance" of $1600 and a limmit of $500 on my TU account, a settled collection from Portfolio Recovery from an account with Bank of Marin from 2005 and an auto loan that is marked paid collection/charge off. car was totaled and I didnt have GAP insurrance) the lender was Roadloans/triad. the ballance was WAY off so i negotiated a pay off

I have all the same things on my EQ account except there is no portfolio recovery collection listed, no Cap One charge off, but there is a HSBC charge off with a $0 balance from 2005... 

So How the hell do I get a card with a limet higher than $300??? I have cards with perfect pay history with all my cards for over 2 years. $300 is USLESS!!!! I don't know what to do.... I dont feel like going and getting a seccured card, I have 4 open CCs with perfect pay historys for 2 years what do do i have to do here???

[Anonymous]

Visit a CU - check out the big ones here, NFCU, PENFED, etc. to see if you qualify for membership. If not, visit your local CU.

[BlessedHappiness]

If you do not have military ties, PenFed will qualify for membership if you are a volunteer for the Red Cross.

[moondog7324]

I doubt you will get out of junk card hell for at least 3 more years, unless you follow my advice in a thread i started "avoid junk cards, credit union solution"

Patience- you can get there in 12 months if you follw that thread.

Message Edited by moondog7324 on 03-21-2009 08:30 PM

[Anonymous]

The fastest way would be to pay that $1600, PFD. You will be at over 100% utilization until it falls off. Even though after 4 years you are not as penalized by the chargeoff the util hit will be there till the very end.

The alternative is to put that same $1600 towards a secured card. The car charge off won't be as big a factor for credit cards as it will with another car loan, but if you want low credit purgatory to end faster, a PFD or at least a settlement that gets your balance to $0 is the way to go. Don't bother contacting them if you can not pay it though, because they will reward you by updating the most recent reported date, dropping your score

Message Edited by reots on 03-21-2009 09:55 PM

Message Edited by reots on 03-21-2009 09:56 PM

[moondog7324]

I really doubt CRAP1 will do a PFD. They will gladly accept your money and mark it as a paid charge off. If it is beyond SOL I would let the CRAP1 die a natural death. If you dispute it they will just update it- fooiling the CRAs in to thinking it's a recent charge off.