Searching for Best Credit Card Offer
Author: Nathan
Joined: 09 Apr 2004
Posts: 42
Location: Arizona
Posted: Tue Feb 01, 2005 12:25 am
Post subject: Which Card Would Approve ME Right Now?
I've been contemplating getting a new card but I'm worried that some C.C. companies may decline me due to "overall debt" again. The reason I ask is FUSA/Bank1 declined me when I had about $25K in C.C. debt (their ONLY reason according to the letter). When they declined me, I was doing some BTs and some of the newly $0'ed balances were not updated to any of the CBRs.
Right now, I have just over $17k on one card (0% BT that I wrote the checks to myself), and a few other small $100-$200 balances. All scores FICO's are over 700. Available is over 90%. DTI is not an issue.
Anyone know of a company that would approve me now? Anyone have experiences they can share? Maybe someone can guide me how to apply in a manner that would make the C.C. company more comfortable?
Thanks in advance!
There are no stupid questions -- only stupid answers.
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Author: hdporter
Joined: 24 Jan 2005
Posts: 9
Location: Philadelphia
Posted: Tue Feb 01, 2005 5:22 am
Without addressing your specifics, it's important to realize that credit card companies are still flooding mailboxes of those who they consider strong applicants (we're talking FICO's of 680+ with more moderate debt levels than yours). These "pre-approved" offers are you strongest bet for an additional credit card.
If you aren't receiving these at present, then there is some aspect of your credit profile that is making them shy away from you and it's relatively unlikely that an an attractive issuer will be receptive to a "cold" application (think of in terms of cold calling) at this time -- for whatever reason, non invited applications receive more stringent review.
If you have a strong stomach for rejection,you can continue your pursuit. I don't view any of the major issuers as being any more receptive to a "cold" application. But each have their own criteria, so you may find one that'll snap you up.
But my advice is to relax, allow some time for newly issued cards to become more seasoned and establish strong history on their own, and wait for your mailbox to heat up.
Finally, my experience is that my present account issuers are being very aggressive in extending sizable limit increases at least once a year with 0% come-ons -- even in a case where I had just recently requested a standard increase and was rejected.
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Author: Nathan
Joined: 09 Apr 2004
Posts: 42
Location: Arizona
Posted: Sat Feb 12, 2005 5:43 pm
Just FYI:
I applied for a Chase Platinum Card & a Bank One/FUSA Amazon.com card - even though they are the same company now.
Chase approved $7,500 w/good terms overall.
FUSA approved it, but I haven't received the card or details yet.
Can't complain too much.
There are no stupid questions -- only stupid answers.
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Author: Board Monitor
Board Monitor/ Administrator
Joined: 05 May 2003
Posts: 564
Posted: Sun Feb 13, 2005 10:06 am
Congrats Nathan!
Best Regards,
Curtis Arnold
Board Monitor
U.S. Citizens for Fair Credit Card Terms, Inc.
http://www.cardratings.com
501-663-0314 PH
501-301-8474 FX
View our latest credit card ratings!
Joined: 09 Apr 2004
Posts: 42
Location: Arizona
Posted: Tue Feb 01, 2005 12:25 am
Post subject: Which Card Would Approve ME Right Now?
I've been contemplating getting a new card but I'm worried that some C.C. companies may decline me due to "overall debt" again. The reason I ask is FUSA/Bank1 declined me when I had about $25K in C.C. debt (their ONLY reason according to the letter). When they declined me, I was doing some BTs and some of the newly $0'ed balances were not updated to any of the CBRs.
Right now, I have just over $17k on one card (0% BT that I wrote the checks to myself), and a few other small $100-$200 balances. All scores FICO's are over 700. Available is over 90%. DTI is not an issue.
Anyone know of a company that would approve me now? Anyone have experiences they can share? Maybe someone can guide me how to apply in a manner that would make the C.C. company more comfortable?
Thanks in advance!
There are no stupid questions -- only stupid answers.
View our latest credit card ratings!
Author: hdporter
Joined: 24 Jan 2005
Posts: 9
Location: Philadelphia
Posted: Tue Feb 01, 2005 5:22 am
Without addressing your specifics, it's important to realize that credit card companies are still flooding mailboxes of those who they consider strong applicants (we're talking FICO's of 680+ with more moderate debt levels than yours). These "pre-approved" offers are you strongest bet for an additional credit card.
If you aren't receiving these at present, then there is some aspect of your credit profile that is making them shy away from you and it's relatively unlikely that an an attractive issuer will be receptive to a "cold" application (think of in terms of cold calling) at this time -- for whatever reason, non invited applications receive more stringent review.
If you have a strong stomach for rejection,you can continue your pursuit. I don't view any of the major issuers as being any more receptive to a "cold" application. But each have their own criteria, so you may find one that'll snap you up.
But my advice is to relax, allow some time for newly issued cards to become more seasoned and establish strong history on their own, and wait for your mailbox to heat up.
Finally, my experience is that my present account issuers are being very aggressive in extending sizable limit increases at least once a year with 0% come-ons -- even in a case where I had just recently requested a standard increase and was rejected.
View our latest credit card ratings!
Author: Nathan
Joined: 09 Apr 2004
Posts: 42
Location: Arizona
Posted: Sat Feb 12, 2005 5:43 pm
Just FYI:
I applied for a Chase Platinum Card & a Bank One/FUSA Amazon.com card - even though they are the same company now.
Chase approved $7,500 w/good terms overall.
FUSA approved it, but I haven't received the card or details yet.
Can't complain too much.
There are no stupid questions -- only stupid answers.
View our latest credit card ratings!
Author: Board Monitor
Board Monitor/ Administrator
Joined: 05 May 2003
Posts: 564
Posted: Sun Feb 13, 2005 10:06 am
Congrats Nathan!
Best Regards,
Curtis Arnold
Board Monitor
U.S. Citizens for Fair Credit Card Terms, Inc.
http://www.cardratings.com
501-663-0314 PH
501-301-8474 FX
View our latest credit card ratings!
posted by CardRatings.com at 11:57 AM
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