Re: Verve MasterCard Offer

jre · ‎01-07-2015

Received a pre-qual for a Verve MasterCard issued by Continental Finance Company. 500 starting limit. $125 first year annual fee ($96 thereafter) and a $5 monthly service fee (waived for first year). Should I take it?

Quicksilver x2 | Barclays | Store Cards (more than I need)

Scores: 650s

Strogen · ‎01-07-2015

@jre wrote:
Received a pre-qual for a Verve MasterCard issued by Continental Finance Company. 500 starting limit. $125 first year annual fee ($96 thereafter) and a $5 monthly service fee (waived for first year). Should I take it?

Uh no?

This is like the worst possible credit card I have ever seen.

I mean, if you like fees and are OK with paying them then by all means, accept.

My friend got that same exact offer and he never used the card and they just closed the account.

807 TU FICO Score 8.

Anonymous · ‎01-07-2015

@jre wrote:
Received a pre-qual for a Verve MasterCard issued by Continental Finance Company. 500 starting limit. $125 first year annual fee ($96 thereafter) and a $5 monthly service fee (waived for first year). Should I take it?

Under no circumstances should you accept this offer.

DaveInAZ · ‎01-07-2015

That "offer" is even worse than what Credit One sticks to folks just out of BK. With your other cards it makes no sense for you to accept those really awful terms.

chalupaman · ‎01-07-2015

@jre wrote:
Received a pre-qual for a Verve MasterCard issued by Continental Finance Company. 500 starting limit. $125 first year annual fee ($96 thereafter) and a $5 monthly service fee (waived for first year). Should I take it?

Why on earth would you take this offer especially given you already have a card with Barclays in your sig?

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down

CreditMagic7 · ‎01-07-2015

No.

Pass and forget you ever saw it.

Anonymous · ‎01-07-2015

I think we've made our case, OP.

Now chuck that thing into the fireplace and pretend it never happened.

jre · ‎01-07-2015

I was only a bit intrigued b/c I'd never heard of this offer. I just ripped it up thanks.

Quicksilver x2 | Barclays | Store Cards (more than I need)

Scores: 650s

Anonymous · ‎01-07-2015

I thought this was a joke thread. Make sure to burn it before you throw it away so it doesn't resurrect itself.

Anonymous · ‎01-07-2015

@jre wrote:
I was only a bit intrigued b/c I'd never heard of this offer. I just ripped it up thanks.

A general rule: any card with a monthly fee is very likely to be a rip off

But I am interested in what even made you ask. The high AF, the monthly fee (even if waived) and for what?

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