Getting robbed by Tribute

[stressedout2k5]

Ok...first off, I have to start by saying these boards work. I have been working diligently since i got hear on my credit. I used to have great credit but after my divorce and being a single parent, it went down the toilet. Worse, my ex screwed me by jacking up some accounts I didnt even know about. Even his junk would appear on my report even though I wasnt on the apps or still married. Anyways, zoom to today.

I have been fighting hard and cleared up most on my reports. I even got a notice today 2 of the hardest which were not mine, came off 2 reports and I am waiting for the third to see if off them as well. That would leave 2 bad things one of which I am disputing trying to resolve. I have it well documeneted and could ask for more than they are calaiming and actually have them on possible fraud so hopefully that will go.

Now, where I need help. I had nothing but bad credit and followed the advise here and as things cleared, got 2 un-sec Orchard and 1 tribute card. I have paid very well and consistently gotten the limits up. The problem is the tribute is my oldest (almost a year and has the highest limit from $250 - $800). I used them and paid sometimes 3 4 x per month. I was ok with the $6.50 fee monthly but just got hit hard with a $100 annual fee. I actually just got approved for a car at the best rate and have been getting bombarded with pre-app offers with no annual fee. I am worried though of closing the TL which has my highest limit and longest time and how that will affect my score as well as how I am about applying for anew card and getting the ding on my credit report. I actually just got 2 "dings" (inquiries becuase I wanted one car and got approved but then they changed the deal so I went to a differnet brand so got 2 inquiries now against me.

Should I cancel the card or keep getting robbed by them? If I cancel, do I still have to pay the annual fee I just got billed for? I really would like ot know what to do. Txs

[LNY]

Ok...first off, I have to start by saying these boards work. I have been working diligently since i got hear on my credit. I used to have great credit but after my divorce and being a single parent, it went down the toilet. Worse, my ex screwed me by jacking up some accounts I didnt even know about. Even his junk would appear on my report even though I wasnt on the apps or still married. Anyways, zoom to today.

I have been fighting hard and cleared up most on my reports. I even got a notice today 2 of the hardest which were not mine, came off 2 reports and I am waiting for the third to see if off them as well. That would leave 2 bad things one of which I am disputing trying to resolve. I have it well documeneted and could ask for more than they are calaiming and actually have them on possible fraud so hopefully that will go.

Now, where I need help. I had nothing but bad credit and followed the advise here and as things cleared, got 2 un-sec Orchard and 1 tribute card. I have paid very well and consistently gotten the limits up. The problem is the tribute is my oldest (almost a year and has the highest limit from $250 - $800). I used them and paid sometimes 3 4 x per month. I was ok with the $6.50 fee monthly but just got hit hard with a $100 annual fee. I actually just got approved for a car at the best rate and have been getting bombarded with pre-app offers with no annual fee. I am worried though of closing the TL which has my highest limit and longest time and how that will affect my score as well as how I am about applying for anew card and getting the ding on my credit report. I actually just got 2 "dings" (inquiries becuase I wanted one car and got approved but then they changed the deal so I went to a differnet brand so got 2 inquiries now against me.

Should I cancel the card or keep getting robbed by them? If I cancel, do I still have to pay the annual fee I just got billed for? I really would like ot know what to do. Txs

I find it unlikely that these vultures will NOT come after you for the $100 anyway if you close the account. It's how they operate. So you might as well just take a deep breath and resign yourself to having it for another year. It sounds like you do need the TL right now, unfortunately.

As for the car inquiries, FICO will treat them as one if they were within 30 days, so they won't double-ding your score. But if you want to get another card, try to do your homework first to apply for one that pulls your best report with the fewest inquiries. And preferably AFTER the negatives are gone.

I know how stressful this is, but only time and careful planning will fix your credit. Why don't you let us know which cards you're thinking of, and their terms? We'll try to help you choose the best card for your situation.

[direred]

Once you get to the point that you can get a no-annual fee card (or one that's significantly lower), then I'd cancel.

Call up Tribute and see if they'll lower (or waive) the annual fee.

[stressedout2k5]

Txs for hte reply..not only do they charge me an exorbitant $100 annual fee but they also charge me $6.50 maintenence. I have worked very hard on my credit report since I joined here. Thanks to all the great help and people like you guys willing to share their advice, I have gone from 15 negatives down to 2 on one report and none at all on the other (not sure about the last one yet at least 2 maybe 4). Anyways, I now get lots of pre-apporved offers with 0% interest and no annual fee from like chase and citi, discover, lots of them now which is exciting since it has been a long long long time since I got anything. I would love to open up on e of those and cancel the tribute and even the orchard bank one but am a fraid it will bring my scores down becuase of old accoutns being deleted and all new ones opening. I dont know what to do. DO I bite the bullet and spend the money on the tribute and keep getting robbed or open a new one then keep the tribute since I will get stuck having to pay the feeanyways. I sent them lots of emails saying I am a good payor as I pay sometimes 3 or 4 times a month and my limit has been raised by them 5 times and asking they give me some type of credit. They have not responded except for the auto response saying will contact within 2 days which was 10 days ago. Not sure what to do and since I owe everything to these boards would like to hear what you guys would do. Txs again.

[LNY]

We just told you...

[stressedout2k5]

I never said I was the brightest bulb in the pack:) The ones I have looked at that I am pre-approved for are

1. Chase with 0% for 1 year and no annual fee

2. Bank of America same thing

3. Discover 0% till 2008

4. Citibank 0% for 6 months but 5 points per dollar

5. amex blue 0% 1 year

I only want to open one of them but not sure if I have I should still keep the tribute. If I have to pay the fee then I will keep it until I until next year anyways then cancel before but want to open a new card in the meantime. Txs so much for your help.

[LNY]

I never said I was the brightest bulb in the pack:) The ones I have looked at that I am pre-approved for are

1. Chase with 0% for 1 year and no annual fee

2. Bank of America same thing

3. Discover 0% till 2008

4. Citibank 0% for 6 months but 5 points per dollar

5. amex blue 0% 1 year

I only want to open one of them but not sure if I have I should still keep the tribute. If I have to pay the fee then I will keep it until I until next year anyways then cancel before but want to open a new card in the meantime. Txs so much for your help.

Those are all prime cards, which are very picky about who they approve, and don't like negatives. Also, they tend to do manual reviews and use an internal scorecard, both of which would pick up on Orchard and Tribute as "this person's been in lots of financial trouble" even if the negs are erased. But all is not necessarily lost (except probably Discover and AmEx), and I would still apply for the Bank of America, and hope to be offered the 99/500 (do a search for info on that).

Like Direred suggested, call Tribute. You already pay them almost $100 a year in "maintenance," plus I'm assuming a crazy interest rate. Maybe they will waive or lower the annual fee. But if they won't, you're probably stuck with it, and again, it seems you need the TL right now (and I stress right now) anyway. As you get cards over the next year, I'd recommend you close this card before the next PREDATORY annual fee becomes due, and take whatever short-term hit you have to. The long-term is what matters.

By the way, look at those "pre-approved" offers again. Do they say that you are "invited to apply"? If so, they're pretty much random offers.

[stressedout2k5]

Txs LNY.....the ones I listed actually say "pre-approved". the chase one says I am already approved and only asks me to sign , verify the info and put my ss. I can go online with the invite # and click agree and find out the limit. That was the one I was leaning to getting. Tribute has been no help at all. I have followed the advise here and charged small amounts and paid them off to build my histories. I just got approved for a new car at the best rate they offered by 2 diff automakers. I actually didnt want to apply for a new card until I get hit with the huge $100 fee + the monthly maintence fee so almost $200 year for the card. What do you think about the Chase one? Txs again for all your help. I really do appreciate it. If it wasnt for people like you, I would have still been stuck in the same mess all this time. These boards for me have been great. It is one of the few places where people actually try to help people for nothing in return. Txs again.

[LNY]

Txs LNY.....the ones I listed actually say "pre-approved". the chase one says I am already approved and only asks me to sign , verify the info and put my ss. I can go online with the invite # and click agree and find out the limit. That was the one I was leaning to getting. Tribute has been no help at all. I have followed the advise here and charged small amounts and paid them off to build my histories. I just got approved for a new car at the best rate they offered by 2 diff automakers. I actually didnt want to apply for a new card until I get hit with the huge $100 fee + the monthly maintence fee so almost $200 year for the card. What do you think about the Chase one? Txs again for all your help. I really do appreciate it. If it wasnt for people like you, I would have still been stuck in the same mess all this time. These boards for me have been great. It is one of the few places where people actually try to help people for nothing in return. Txs again.

Well, it probably wouldn't hurt too much to try for the Chase one! I'm now not sure if I read correctly the first time... did you mean you now have those negs on only one report? I'm sorry if I misunderstood that the first time around, but that changes the picture. Which report is the nasty one? Just try not to apply for cards who will pull the nasty report in your state.

Why don't you also apply for Macy's? Easy application, no income or employment questions. They will pull EX. Probably start you out with a $100 CL, but it's a positive TL and they give increases.

[stressedout2k5]

Txs LNY...no you were right...on my 3 reports..one is completely clear (yeh!)..one has only 2 negs both from 2001 and the other has 2 negs (same ones) and but 2 still on Exp 2. I know my score for one report has jumped to 739 EQ before the inqu due to pulling for new car. The others were in the mid 600's before the 2 negs just got deleted from one report so I am hoping are now higher. I started in the very very low 500's (505, 515, 526) so I have been following the advice here and it has worked for me. I am not trying to be greedy or complain of my scores I just want to protect them now as it has been a long long long tiome 6 years working to fix them. Txs for your help very vey much appreciated.

[LNY]

Txs LNY...no you were right...on my 3 reports..one is completely clear (yeh!)..one has only 2 negs both from 2001 and the other has 2 negs (same ones) and but 2 still on Exp 2. I know my score for one report has jumped to 739 EQ before the inqu due to pulling for new car. The others were in the mid 600's before the 2 negs just got deleted from one report so I am hoping are now higher. I started in the very very low 500's (505, 515, 526) so I have been following the advice here and it has worked for me. I am not trying to be greedy or complain of my scores I just want to protect them now as it has been a long long long tiome 6 years working to fix them. Txs for your help very vey much appreciated.

You've done a great job!!! Try for that Chase. And Macy's is sympathetic to negs that are a few years old. You need to start building up some positive TLs, which will make it easier to shed that Tribute next year.

[stressedout2k5]

Txs LNY for all your help. If it wasnt for people like you who share their knowldge with people like me, I would be sunk. I am a little disppointed because as we write, I just saw that Exp did not remove those 2 I thought they would like the other reports did. They are a$$(es) x2 both under $300 and not mine and I have 17 documented violations for each account. I actually have a local consumer law firm who specializes in suing them wanting to sue them on my behalf. I have an appointment as they have reviewed all my info and want to proceed. I just want to move on but I guess I will have to sue them to get them off my last report. Anyways, sorry to rant.

I am going to apply for the chase. Thanks so much for your help. I will let you know what happens.