1st Premier does offer a 2nd card

[LoveToGod]

I called into make a payment to my cc with first premier, and they told me "because of your excellent payment history" you qualify for a second card. Well I will know in 7 to 10 days.

So if you don't have that many cards and want a little more credit just pay your first premier on time and in a little over 6 months they can offer you a second one.

I said I thought there a limit of 1 card, and they said that is only initially.

[VeVe]

Why in the world would you want a second FP card?

[VeVe]

Did you request a CLI?

The only reason they would offer a second card is because they'll get double the fees from you. It's a sucker set up. They wouldn't get any more fees if they just increased your CLI, though that would be the only thing worth doing. Especially for you since all of your cards are under $500. Another low limit card will not do you any good. In fact it may just do you harm.

[Guest BucFan]

Did you ask them if they think you're an idiot?

[LoveToGod]

Why in the world would you want a second FP card?

Ha. Ha. I don't know. I want to see what kind of limit they offer. I may cancel the card when it comes. The other thing is after about 6 months of paying on time sometimes they will let you combine the 2 credit cards and their limits together to form one card. with a better limit.

[LoveToGod]

Did you ask them if they think you're an idiot?

I didn't think about it at the time, and I was on my lunch break so I had to wrap it up, but I think I will ask later today.

[LoveToGod]

Did you request a CLI?

The only reason they would offer a second card is because they'll get double the fees from you. It's a sucker set up. They wouldn't get any more fees if they just increased your CLI, though that would be the only thing worth doing. Especially for you since all of your cards are under $500. Another low limit card will not do you any good. In fact it may just do you harm.

The Merrick Bank is $500. I have heard that but is there any real info on that? You mean that you are dinged for having credit limits under $500?

Some point later as my history ages and my score goes up I have plan to fire any creditor that won't give me at least a $500 limit, but I am saving that for later.

[razr]

The Merrick Bank is $500. I have heard that but is there any real info on that? You mean that you are dinged for having credit limits under $500?

Yes.

-r

[hasas13]

The will give you 30 limit after all fees taken out.

[LoveToGod]

The will give you 30 limit after all fees taken out.

It's not quite that bad. It will be about half if the initial limit is $300.

[creditreformer]

color me an idiot...well, soon to be ex idiot hopefully i accepted the 2nd 1st premier card as i had no other options and i was traveling a lot and needed 'more flexibility' in terms of putting flights/hotels on cc...and that sparkling 250 CL of the 1st card wasn't doing a whole lot for me....and fp would NOT give me a CLI on card #1. fp was slightly more generous w/the 2nd card and gave me a whopping 350 CL lol after just over 1 yr of 'perfect history' w/them (PIF 9/10x, no lates, no overlimits), fp still won't give me a CL on either card. same w/orchard, so i fell into the '2nd card' trap w/them also. @ least there's no monthly fees w/orchard and the APRs are decent. however, as w/FP, after just over 1 yr of 'perfect history' w/orchard, no CLI luv from them. i don't have any 'new baddies' on my CR since 06, so idk why fp/orchard don't love me in terms of CLI. recent 'better' (though that's subjective) ccs i've acquired are capital one (just got approved, so don't know CL yet) and BA 99/500. currently all fps and orchard cards (4 total) are paid in full and will remain that way. in 09, i plan to dump the fp cards as by then, my 'need this card as it's the only 1 i can get' issue shouldn't be as pressing and hopefully i'll be able to get 'prime' cards. i'm hoping to consolidate the orchard cards into 1 TL after the current '0 balance' hits my CRs.

btw, getting the 2nd fp card did NOT hurt my FICO...neither did getting the 2nd orchard card.

[LoveToGod]

color me an idiot...well, soon to be ex idiot hopefully i accepted the 2nd 1st premier card as i had no other options and i was traveling a lot and needed 'more flexibility' in terms of putting flights/hotels on cc...and that sparkling 250 CL of the 1st card wasn't doing a whole lot for me....and fp would NOT give me a CLI on card #1. fp was slightly more generous w/the 2nd card and gave me a whopping 350 CL lol after just over 1 yr of 'perfect history' w/them (PIF 9/10x, no lates, no overlimits), fp still won't give me a CL on either card. same w/orchard, so i fell into the '2nd card' trap w/them also. @ least there's no monthly fees w/orchard and the APRs are decent. however, as w/FP, after just over 1 yr of 'perfect history' w/orchard, no CLI luv from them. i don't have any 'new baddies' on my CR since 06, so idk why fp/orchard don't love me in terms of CLI. recent 'better' (though that's subjective) ccs i've acquired are capital one (just got approved, so don't know CL yet) and BA 99/500. currently all fps and orchard cards (4 total) are paid in full and will remain that way. in 09, i plan to dump the fp cards as by then, my 'need this card as it's the only 1 i can get' issue shouldn't be as pressing and hopefully i'll be able to get 'prime' cards. i'm hoping to consolidate the orchard cards into 1 TL after the current '0 balance' hits my CRs.

btw, getting the 2nd fp card did NOT hurt my FICO...neither did getting the 2nd orchard card.

I may dump the fp cards in the future, but first I am going to see if they will consolidate the two into one for me first. If they don't then I am liable to dump them later, once I get better offers.

At some point i will trim of the number of cards I have once I get some real ones.

[LoveToGod]

How many of you have been able to get a CLI up to $500?

OR

Has anyone been successful in combining the credit limits from two cards into one?

This question also includes those that were offered a 2nd card...

[VeVe]

btw, getting the 2nd fp card did NOT hurt my FICO...neither did getting the 2nd orchard card.

The low CLs don't necessarily make your score go down, but they do affect the CLs you will get from other lenders. The more small ones you have, the less likely you are to get decent offers from other banks.

[LoveToGod]

The low CLs don't necessarily make your score go down, but they do affect the CLs you will get from other lenders. The more small ones you have, the less likely you are to get decent offers from other banks.

That is something to remember later when my score goes up. I will eventually dump the sub prime for the prime cards and those will be the keepers. I will probably trim it down to about 3 or 4 cards, but right now I need to show available credit and rebuild a track record.

[LeslieR]

I also took the second card about a year ago. I can't say it's hurt my ability to get higher limits on prime cards now that my credit is cleaned up. I've gotten the upper limits offered on BofA, Crap1, and WaMu for people "like us." At that point, I fired Orchard and the newer of the two FPs. I will let the oldest FP stay for another six months or so until the good cards age a bit (because it's my oldest revolving account).

I got a CLI on the first card to $600 (I think from 300. or 350.) and the new one was $375. After six months with the second card, I asked for, and was denied a CLI.

[LoveToGod]

I also took the second card about a year ago. I can't say it's hurt my ability to get higher limits on prime cards now that my credit is cleaned up. I've gotten the upper limits offered on BofA, Crap1, and WaMu for people "like us." At that point, I fired Orchard and the newer of the two FPs. I will let the oldest FP stay for another six months or so until the good cards age a bit (because it's my oldest revolving account).

I got a CLI on the first card to $600 (I think from 300. or 350.) and the new one was $375. After six months with the second card, I asked for, and was denied a CLI.

Well at least I know its possible. At some point I am going to try to merge my two HSBC cards together.

[creditreformer]

The low CLs don't necessarily make your score go down, but they do affect the CLs you will get from other lenders. The more small ones you have, the less likely you are to get decent offers from other banks.

yes, i know the low CLs may impact the CLs I get from other lenders. however, when I was getting FP/Orchard, I had no 'decent' options, so had to take the 'low limits/subprime cards' to try and rebuild/lessen the impacts of my past bad $ management (think chargeoffs, lates, etc.). i've had them for just over 1 yr. @ this point, all of those 'subprime' cards are 'sockdrawered'/0 balances. just recently, i was able to get 'semi better' cards- capital 1 (unknown limit as i applied online, but it says 'approved' and I should have the card by next week) and BA 99/500. i plan to use these new cards over the next 6 months to help age the accts and i also plan to ask fp/orchard to 'consolidate' my ccs (which would take me from 4 to 2 'subprime' cards and if they combo my limits, i'd have higher limits) once my credit reports show the 0 balances on them.

by early 2009, i'll have hit the '2yr mark' w/FP and orchard...2 yrs of 'perfect payments' and i think i'll be able to 'dump' them (or @ least the FP). i don't really see any point in keeping the FPs beyond 2 yrs as FP's not known for being overly gracious w/CLIs and i'm not sure if there's a huge difference between showing 2 FPs w/1 600 CL or 1 FP w/1 600 CL. i'm also thinking of asking orchard to combo my 2 cards/'upgrade' me to a better HSBC card. if not, then i'll likely close the orchards after the FPs or see if they'll @ least waive the annual fees.

i look @ fp (and orchard, though i'm slightly more fond of them b/c no monthly/online fees) as a 'necessary evil'...my credit up until 2006 (when most of my past 'serious baddies' finally fell off my reports or were otherwise resolved...though a few 'baddies' linger until 2010) was trashed beyond trashed due to poor $ management (which is why i did w/o any ccs for years as i felt i needed to get my financial house in order) and fp/orchard gave me a chance to get a 'leg up.' however, as w/most things in life, there comes a point when you 'outgrow' them and it's time to move on. as my 2nd yr annual fees have already been paid on the 4 cards, i'll keep them until early 2009. by then, my BA 99/500 will have graduated to unsecured and if BA treats me like they've treated others, upon graduation, BA should give me a healthy CLI...same w/capital 1. while some people hate capital 1, i'd far rather have them show up on my credit reports than FP. i'm not saying everyone should get a 2nd FP or 2nd orchard (i travel a lot and needed the CCs for hotels/flights as they were my only credit options), but for me, i think i've used them wisely and it's boosted my FICOs from 'too embarassed to even post on a public forum' to the high 500s. i still have some work to do on my FICOs (due to an emergency, my utilization was upped the past 2 months- but all balances are now 0 again and will stay that way), but i'm hoping to break the 600s soon.