@JoeRockhead wrote:
They're not going to turn someone away based on sub prime cards, even Amex has been known to recommend Credit One. Lenders are looking at how you manage your credit, no matter where that comes from.
Credit One is basically at least close to a fee harvester.
AmEx is turning bad credit risks over to Credit One so that you might get a card that runs on the AmEx network.
If they honestly cared what happened to you during your rebuild they'd at least recommend cards from a bank that issues rebuilder-level cards that are not likely to hurt you bad and then sic a lawsuit mill on you when it went bad, like what happened to my cousin.
There's rebuider cards from Discover, Citi, and Capital One that are not fee harvesters and even if you have to put down a security deposit, you at least get it back, unlike annual fees just because some people probably don't read that it's the first thing that would get charged to a $500 baby limit on a Credit One.
Rebuilders should get in with a bank that wants them for their business in the future and will work with them to grow the account, not one that's probably hoping they won't pay so they can sue them 18 months later for 600% of what they charged, and will at the very least be some dead end baby limit fee harvester if they go that route.
If you have a situation where you need a rebuild, the last thing you need is more damage than what's already going on now.
AmEx is more than happy to look and see you're in good with CAPITAL One and Discover unless you don't meet their underwriting requirements for whatever reason or are on one of their burn lists, so I don't see what the point is with all of these fee harvester products and I wouldn't go near one personally.
Every time AmEx tells me I'm on the five year waiting list I say "In the jungle you must wait until the dice read five or eight." and laugh.
There's other banks. There's always other banks, plus AmEx is always happy to add me to my spouse's cards so we get the benefits on those cards anyway.
