Drew Posted May 24, 2007 Report Share Posted May 24, 2007 For whatever reason, I applied for a First Premier Gold Card. Call it being impulsive when it comes to rebuilding credit. I did not get immediate approval, this is what I got:"Thank you for applying. Your approval is pending further verification of the information you provided. You will be sent a letter in approximately 7 to 10 business days if further information is needed."Does this mean DENIAL? Link to comment Share on other sites More sharing options...
mikeywow2k Posted May 24, 2007 Report Share Posted May 24, 2007 Sorry to say, but it sure does sound like it.Don't lose faith. Link to comment Share on other sites More sharing options...
RIDOUTMEL Posted May 24, 2007 Report Share Posted May 24, 2007 For whatever reason, I applied for a First Premier Gold Card. Call it being impulsive when it comes to rebuilding credit. I did not get immediate approval, this is what I got:"Thank you for applying. Your approval is pending further verification of the information you provided. You will be sent a letter in approximately 7 to 10 business days if further information is needed."Does this mean DENIAL?I received the same from Orchard Bank and was approved. I think that's just to let you know that your request is being processed.Good luck. Link to comment Share on other sites More sharing options...
Drew Posted May 24, 2007 Author Report Share Posted May 24, 2007 I received the same from Orchard Bank and was approved. I think that's just to let you know that your request is being processed.Good luck.I sure hope so Rid. Wish me good luck! Link to comment Share on other sites More sharing options...
hiblues Posted May 24, 2007 Report Share Posted May 24, 2007 Are you sure you want a 1st Premier card anyway?The charges and fees are Frickin outrageous.Go back to the ad and read the fine print 'terms'JM2C's Link to comment Share on other sites More sharing options...
egallagher2k Posted May 24, 2007 Report Share Posted May 24, 2007 No this does not mean you have a denial. It means they are looking you over and will let you know the answer within 7-10 business days. I have seen both approvals and denials under the situation you describe. Link to comment Share on other sites More sharing options...
Drew Posted May 24, 2007 Author Report Share Posted May 24, 2007 Are you sure you want a 1st Premier card anyway?The charges and fees are Frickin outrageous.Go back to the ad and read the fine print 'terms'JM2C'sHence the reason why I described my situation as 'impulsive'.I think it's like $179 fees upfront, plus $6 a month annual fee, but atleast it would show another positive TL on my CR.I had to pay $235 upfront with Orchard, so I figured it's basically the same thing.Aside from Orchard, who else could I get approved from? Link to comment Share on other sites More sharing options...
Drew Posted May 24, 2007 Author Report Share Posted May 24, 2007 So I called in just now and found out I was 'approved'.Considering how many complaints this company has been getting all over the web, I'm not sure I want this card anymore.Should I call customer service or send a letter to cancel or what? Link to comment Share on other sites More sharing options...
MadinKS Posted May 24, 2007 Report Share Posted May 24, 2007 This is JMHO, but you are better off waiting for your credit repair efforts to work and getting an unsecured card w/a higher limit and lower interest. It sounds like you are trying too hard to rebuild too quickly. I made the same mistake w/Applied in Apr. I haven't even used the card and it's got a balance of $113! Haven't even taken it out of my wallet once. I called today and cancelled it. I don't need that kind of credit. They pray on us like vultures and then wonder why they don't get paid! BTW, I did apply for a HSBC card the other day and was approved for a $1500 limit w/9.9% interest. So, bye bye Applied! Link to comment Share on other sites More sharing options...
Drew Posted May 24, 2007 Author Report Share Posted May 24, 2007 Why didn't you just cancel the card to begin with? Link to comment Share on other sites More sharing options...
MadinKS Posted May 24, 2007 Report Share Posted May 24, 2007 I have. Since I haven't used it and haven't hit the first due date to pay, I am not responsible for payment. Link to comment Share on other sites More sharing options...
Drew Posted May 24, 2007 Author Report Share Posted May 24, 2007 Well, it's a good thing I didn't jump off the deep end yet.I'm going to call them and cancel all together, because it isn't worth it.It sucks that the credit inquiry is probably going to hurt my FICO score now. Link to comment Share on other sites More sharing options...
MadinKS Posted May 24, 2007 Report Share Posted May 24, 2007 Shouldn't hurt it too bad. Maybe 5 points but, it's worth not having to pay to have a cc that has a balance every month without using it. Just stick to getting the baddies removed and, in time, the FICO will rise enough not to need the vultures. Just keep what you already have and make sure they stay on time and the FICO will not suffer. Baby steps to recovery. Good luck. Link to comment Share on other sites More sharing options...
Drew Posted May 24, 2007 Author Report Share Posted May 24, 2007 Shouldn't hurt it too bad. Maybe 5 points but, it's worth not having to pay to have a cc that has a balance every month without using it.True, but among other things, the cancellation seemed a bit too easy.They said I should receive a cancellation letter in 7-10 business days.We'll see..Any suggestions on another card I can get approved on? Link to comment Share on other sites More sharing options...
SOC Posted May 24, 2007 Report Share Posted May 24, 2007 depends on your situation, 1yr ago they were my first card with a lot of derogs, now i have over 30 unsecured credit cards. Of course i cancelled first premier, credit one and orchard. as i didnt want to pay the annual fee them cards cost. but they did allow me to "pay to play". so do whats best for you. Link to comment Share on other sites More sharing options...
MadinKS Posted May 24, 2007 Report Share Posted May 24, 2007 Try this link. Select your best FICO Report and put in your state. It will give you a list of the different banks that offer cards and the report they pull from. http://creditboards.com/forums/index.php?autocom=creditpulls Link to comment Share on other sites More sharing options...
Drew Posted May 24, 2007 Author Report Share Posted May 24, 2007 Try this link. Select your best FICO Report and put in your state. It will give you a list of the different banks that offer cards and the report they pull from. http://creditboards.com/forums/index.php?autocom=creditpullsGeez, it's like I'm signing my soul away trying to get registered with that site. Link to comment Share on other sites More sharing options...
MadinKS Posted May 24, 2007 Report Share Posted May 24, 2007 It's another good source for answers though. Link to comment Share on other sites More sharing options...
Drew Posted May 24, 2007 Author Report Share Posted May 24, 2007 Dang it. Almost all the cards on there are accounts that I've charged off.Is there anyway to get new accounts set up with the CO accounts? Link to comment Share on other sites More sharing options...
MadinKS Posted May 24, 2007 Report Share Posted May 24, 2007 The HSBC card company called offering me a cc. I told the lady that I had just been screwed by HSBC and they had just CO the old account in Jan. I had been paying on that account for years and missed a payment when I was deployed and didn't realize it. I kept paying the $55/mo. but because I missed that payment, I was slowly accruing lates even though I was paying every month. Well, they CO in Jan and still approved me for a $1500 card 2 days ago. So, there is hope. Just may be that you have to wait awhile. Link to comment Share on other sites More sharing options...
Drew Posted May 24, 2007 Author Report Share Posted May 24, 2007 How did you know you were approved Madlin?Should I send a letter via email asking to get my CC reinstated?Because, I really don't want to push a bunch of inquiries on my credit report. Link to comment Share on other sites More sharing options...
MadinKS Posted May 24, 2007 Report Share Posted May 24, 2007 I called their 800 number the lady gave me. If you can make arrangements with a cc co. to re-establish, why not? They may go for it. My motto is this. It's always NO until you ask. Good luck. Link to comment Share on other sites More sharing options...
Drew Posted May 24, 2007 Author Report Share Posted May 24, 2007 I called their 800 number the lady gave me. If you can make arrangements with a cc co. to re-establish, why not? They may go for it. My motto is this. It's always NO until you ask. Good luck.If I'm understanding correctly, they didn't run your CR, right? May I ask what cc. co. this was for?Also, I called to reinstate, but they said I need to go 'in store'. Wouldn't they just run my credit like a new applicant then? Link to comment Share on other sites More sharing options...
MadinKS Posted May 24, 2007 Report Share Posted May 24, 2007 It was Household (HSBC). They pulled my EQ (worst score) and approved me. What is it you're trying to reinstate? Link to comment Share on other sites More sharing options...
Drew Posted May 24, 2007 Author Report Share Posted May 24, 2007 It was Household (HSBC). They pulled my EQ (worst score) and approved me. What is it you're trying to reinstate?A few things such as; Capital One, Jared, Target, etc.EQ is actually my best score, don't know if that helps at all.Did you pay the CO account or was it unpaid? Link to comment Share on other sites More sharing options...
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