Questions about BT
I have a few cards with small credit limits but high balances. The worst is my CapOne card. I've been a cardholder since August 04, and my current balance is $612. I've been making a real effort to pay this down/off because the APR is ridiculously high and there are no perks with the card. This the one card I really want to pay off, because I see no purpose in using it. My question is, would it be worth it to apply for a card just to transfer the balance from the CapOne? I really don't want to open another credit card. The last card I applied for and received was for Best Buy in Feb and I bought a computer with it. That's strictly a store card. The last major credit card I applied for was Chase Mastercard, I think it was a Chase Freedom card. I closed this card with a high balance however, which I know is still effecting my credit big time. I've made great strides in paying off that balance, but it's still really high. My other cards are a TD Bank rewards (formerly Commerce Bank rewards) card and a Chase Amazon card. The balance on both cards tends to remain pretty high, but I've been paying these down as well. The last time I checked my scores, two were in the high 600s and one was in the mid 500s, that was over a year ago. I usually do a yearly check on all three scores, it will be time to do that soon.
Categories: credit-cards Tags: because-the-apr, capone, card, cards, chase, chase-amazon, chase-freedom, commerce-bank, credit, current-balance, from-the-capone
- WHAT IS IN YOUR WALLET…?
What is your favorite credit card, and what is your least favorite. This might be a re-post of a thread, but regardless I thought it would be cool to see what People have to say. My favorite is my credit union visa, and my least favorite, my HSBC/BestBuy card!
Categories: credit-cards Tags: credit, credit-card, credit-union, hsbc, people, your-least
Paid off all Deliquent/Collections, CC offer too soon?
Hi Everyone, I have another question, lol.... I recently paid off all collection accounts on my credit report late Feb/ early March. HSBC was 1 of the credit card collections I paid. I have 2 installment loans in great standing, but feel I need a CC to start boosting my score since it took a hit after paying all collections. I have been sending GW letters, but no luck. Anyway, my question is; today in the mail I received a pre-qualified offer from Orchard Bank/HSBC for a platinum MasterCard. I hate taking out a CC but I think it will help improve my score w/ responsible timely payments of course. Do you think it's too risky to apply to the pre-qualification or should I wait a couple of months? I'm afraid it will be declined and my score will take another hit. Any advice is appreciated. Thank you!~
Categories: credit-cards Tags: credit, hate-taking, orchard-bank, question, recently-paid, score, score-since, since-it-took, start-boosting, timely-payments
What CC is good for rebuilding? Any suggestions?
Hello All! I am trying to apply for a CC to rebuild my credit. I was wondering, what would be a good CC to apply? Right now, I have 4 baddies, 2 of which are scheduled to be removed on September and December 2010; the remaining 2 are scheduled to be removed on January and April 2011. Is it good to apply through Cap One or a secured CC from a bank. Any suggestions? Thanks!
Categories: credit-cards Tags: apply-through, credit, remaining, removed-on-january, removed-on-september, the-remaining
Capital One Credit Steps Program
Just received my Cap 1 rewards card with a $300 limit. Came lightening fast. Was approved last thurs and got it yesterday. I was reading up on the Credit steps program and was wondering if they still offer this. It appears you wont know if you are in the program until they send you a letter? Is this true? Any updates would be appreciated. Very happy and grateful I have a rewards card now. I know BOA has one, but I'm not calling them for anything. Staying under the radar for a while. '
Categories: credit-cards Tags: approved-last, credit, program, radar, steps-program, the-program, true, under-the-radar
Categories: credit-cards Tags: credit, rebuilding
The best way to get high limit credit cards
I currently have a handful of credit cards, most of them have low limits between 1500-3000. I have been trying to get a good card with a large CL but every bank when they provide an offer wont go any higher than my highest CL currently or they advise they can only start me at 3000 and then review the account within 6 months and grant a CL icrease at that time. They say they need a history to review. I am frustrated to say the least. My scores are all in the 700s so I dont see why I dont qualify for a large CL credit card. My util is low, dti is low. Oldest reporting account is 9 years, 10 months. AAoA is 3 years. No recent baddies, except my auto loan which is showing INCORRECTLY due to Lexus being a bunch of morons and that is nearly 10 months old. ANy idea what I should be doing? FICO says to simulate my best action is as follows for raising my score. I dont know why it says that considering my util is 6%!? Best Action - Pay Down 90%-100% of Your Credit Card Balances - Over the Next 24 Months
Categories: credit-cards Tags: account, auto, credit, credit-card, credit-cards, dont-qualify, highest, recent-baddies, score, the-account, then-review
Capital One credit limit caps, APR and CLI
Just thought I would share... I just spoke to an account manager with Capital One. I wanted to know what the credit limit caps were for each of my cards. I had a Platinum Mastercard and currently have a Visa Platinum. The Platinum Mastercard started my off with a $500 CL which eventually became $750 a few months later with their step-up program. This card has a $1000 credit line cap. My other card, which I decided to keep, currently has a $500 credit limit but caps at $3000. He was not able to give me a CLI at this time but was able to drop my APR to 14.9% on the card. He told me that Capital One has recently started allowing customer initiated CLIs on business accounts and may soon start up again with personal accounts. Hopefully this helps...
Categories: credit-cards Tags: account-manager, capital, card, cards, credit, Helps, other-card, step, their-step-up, time
Safe to close?
I got a Continental CC about 2 years ago trying to get back into the credit game after losing my job about 5 years ago. Since then I have gotten a car and a house and recently an Orchard Bank with $39 AF and just got approved for a Cap One no hassle cash rewards card. I want to dump the continental. I have an AF plus a monthly fee of $18. It's ridiculous. My credit limit on it is $525. My Orchard is $300 with a $39 AF My Cap One is $500 with a $39 AF. It should be safe to dump the Continental now, right? I PIF all my cards every month. The only thing that reports for credit cards is the $18 monthly fee. If I do close the Continental, should I leave $10 a month on one of the other cards to report or just keep PIF like I do now? Thanks!
Categories: credit-cards Tags: after-losing, cards, cards-every, continental, credit, credit-game, credit-limit, hassle-cash, month-on-one, orchard, orchard-bank
Need advice on CapOne card…
Hello all, I would like to hear your thoughts on my predicament. I have a Gap card opened 11/2008 ($2000 CL), a Target card opened 11/2008 ($1000 CL), BofA Amex opened 12/2008 ($4000 CL), Capital One visa opened 10/2007 ($2500 CL) and an auto loan that's a year old (started at $19,626 and owe $14,900 as of May 2010). I'd like to get rid of my Capital One card because of its 22% interest rate and a $5 monthly fee that they refuse to waive, but it's also my oldest active tradeline. I'm tempted to call them and threaten to close my account unless they waive the fees. CapOne has never gotten a cent off me from interest charges (I pay in full), but they have gotten $5 every month since 10/2007 in "monthly member fees." Anyone have a CapOne experience they care to share? I wonder if they will call my bluff if I call up. I'm worried about losing a card that I could use in case of emergency. Unfortunately, I am still rebuilding my credit and have been turned down by Discover, Citi, and Barclays in the last five months so opening a new card is not an option in the near future.
Categories: credit-cards Tags: account, capital, card-because, card-opened, credit, from-interest, interest-rate, monthly-member, oldest, oldest-active, predicament, thoughts, waive-the-fees