iwantgoodcredit Posted October 4, 2004 Report Share Posted October 4, 2004 I received a preapproval letter in the mail. I know it doesn't mean anything but was wondering if I did apply, what kind of score I need and which CRA they use. You think it's worth getting C1? TIA. Link to comment Share on other sites More sharing options...
anti-something Posted October 4, 2004 Report Share Posted October 4, 2004 i dont know that you want a crap1, they dont get very good reviews around here.. as always, read that fine print very carefully! good luck Link to comment Share on other sites More sharing options...
iwantgoodcredit Posted October 4, 2004 Author Report Share Posted October 4, 2004 I was afraid someone would say that...What kind of cards can I apply for with mid 500's scores? Link to comment Share on other sites More sharing options...
c m chase Posted October 4, 2004 Report Share Posted October 4, 2004 You have to have a 666 to get a Cap1 account. Nah...I'd have to say it's NOT going to be worth it to you. Since you DO have such low scores, it's likely they won't approve you anyway (you're right, pre-approveds don't mean too much anymore), and if they DID, you'd get such a horrid deal, that it'd be pointless.I would suggest you try to up your scores a little before trying to get a card. Of course, like you, I was itching to get a card when my scores were low (mid-400s, in my case!). I ended up getting a First Premier card with a score of 580ish, I think. You need to be careful with them too, though, as they charge a LOT of start-up fees. It was worth it to me to get the positive trade on my report...so I did it. I still use the card, too. It only has a $250 limit but it's still my lowest APR (9.9% fixed).Spend a little more time 1) trying to boost your scores by cleaning your credit and 2) trying to find out which cards are good for starting out or cleaning up. Both of those things can be done by doing a TON of reading on this site.Good luck and NEVER give up!! Link to comment Share on other sites More sharing options...
debcakes Posted October 4, 2004 Report Share Posted October 4, 2004 I know from my own experience with First Premier (just started with them about a month ago-secured card) they charged $49 (I thought they would charge more but they didn't, so you might check into it).I also got a Capital One Secured card at the same time and they didn't charge any start-up fees although I'm waiting to see when they charge the annual fee. Link to comment Share on other sites More sharing options...
credithelp Posted October 4, 2004 Report Share Posted October 4, 2004 Capital one usually puts the annual fee on the second statement. Cap1 is more strict than they used to be for approvals. Good cards for rebuilding credit seem to be household/orchard. I hear good things about first premier overall but they do have some startup fees that can be alot up front, over 100 in some cases. Link to comment Share on other sites More sharing options...
c m chase Posted October 4, 2004 Report Share Posted October 4, 2004 I hear good things about first premier overall but they do have some startup fees that can be alot up front, over 100 in some cases.My starting limit was $250 and the fees they charged were $180...that left $70 in credit. BUT I knew that going into it and was willing to pay the $180 for a positive new tradeline. I paid off the $180 as soon as I got the card.I don't regret it at all.A couple things to keep in mind with First Premier: 1) Don't get your balance too close to the credit limit. The monthly or anual fees could quickly bump you over your limit and then you'd have a horrendous over-the-limit fee to deal with too. 2) Make sure you pay about a week BEFORE your due date (I pay as soon as I get the bill). Companies like this tend to have a long 'payment posting' time. If they get your payment too close to the due date, it could take a couple of days to 'post' and then you'd have a late fee on top of your payment. Link to comment Share on other sites More sharing options...
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