- Gold Member
- Posts: 29
- Joined: Wed Feb 26, 2014 12:20 am
- Location: Belleville Michigan
whit, no I opened the card in the start of February because i shop there often, and I had to buy a some clothes for a family member's funeral. at the time, it had been a really long time since I had opened another new trade line, so i figured it couldn't hurt as I thought I was still rebuilding my credit.
otter, first i'd like to thank you for explaining that, i didnt know that there was such a high default rate with FP members. secondly, thanks for the kind words, other then chase approving me, that's the nicest thing anyone's ever said about my credit.
At the time when a FP card was all I had, after a year of solid payments and never missing a beat, they offered me a second card, with a higher limit (400) at which time I thought woo hoo, and took the offer. I then moved into the cap 1 secured card, and on and on to where I am now.
I had actually though about closing the FP cards once the PIF payments post, they've already been debited from my checking account, but have not been posted, as FP posts on the 6th or 9th, depending when they feel like it. My only concern is that with closing them, i'll be losing 15% of my available credit, and dropping my overall total credit to 4K instead of 4700.I do feel personally that they've made enough money off of me, and that the cards are pointless other then having a long age of account, and I worry what the effect of closing them could/would be on my length of credit history.
Finally I would say that your 100% right on how I need to start thinking about my credit, when I opened the freedom card, I was shocked I was approved, being my score was only in the low 640s as far as I could tell, and that on my review of other sites, you needed "excellent" credit to be approved. at the time, I felt amex was a long shot so what the heck, i'll see if these guys turn me down. 2K to start was very nice and very rewarding. thanks again, and let me know what ya think.
Amex Delta Sky Miles Gold
Citi Diamond Preferred
Cap One Venture One