Don't activate, try to cancel and void all fees. Go to a bank and get a secured card. If you keep it cancel after 10-12 months to avoid further fees. It's not something you want to keep open only because of the FEES. Besides that its a credit card, just a very expensive card and CLs don't go that high. Another you can try for which will cost you $100 up front I think but is a much better card is the Orchard Bank card by HSBC bank. At least you can upgrade that card to a prime card with HSBC later.
In some cases credit is so bad there are not other choices if you want credit today. In this case keep it to one card and don't apply for others with fees. My friend got 6 cards and easily spent over $4,000 in a year paying all the fees. I think he got up to nearly $6,000 in fees by the time he could afford to pay off the debt. The fees pushed him over the limit each month and caused him to be late each month, on top of that he had to make last minute phone payments to prevent 30 day lates. All because he underestimated how much the fees were when he applied for all these cards. Too many fees.
Just keep it a short time if you must have it and try for the Orchard Bank card by HSBC. That will be a good start. SECURED is another great CHEAP way to rebuild.
Message Edited by ilovepizza on
05-10-2008 03:37 PM