Applying for New Credit Card?

Hi Desiree, welcome to the forums! glad you found this place. how long have you had your capital one card? i ask because $300 limit is small so i'm guessing you haven't had it long? I think it would be a good idea and here's why...
I went through consolidation, after my time with consolidation was through i felt relieved BUT had a horrible credit score as i had many accounts that were combined. so for a year i couldn't even get a card where you have to pay the lovely high fees! i mean i was hopeless...so then a year or so went by and like you i got a capital one card with a $500 limit and an annual fee. well i was thrilled the annual fee was only $20 so i thought why not. within a course of another year that limit went up to $3500 and they waived my fee. I also have a WAMU card too and I really like them better than capital one, they offer you cash back (not intially though) access to a fico score from transunion, and other nice things where capital doesn't do that.
at this point i only have those two cards and my credit has gone up because i managed them BOTH responsibly. as long as you can manage your credit responsibly i think you'll be ok. be advised though that applying for another line of credit will result in that credit agency making an inquiry on your credit and may lower your score. upt o you. I think having two cards is reasonable. good luck

A very warm welcome to the forum Desiree..

Debtstinker is right. If you are working on repairing your credit in that case its good to have more than one card but not too many. Too many applications can drop your score because of the hard inquiries that the companies make before sanctioning the application.

all you need to do is read the terms and conditions properly so that you are aware of any hidden clauses that might be a hitch in future functioning.

Laura, you bring up an excellent point that I didn't even think of! and that is reading all the paperwork that is even remotely associated with the card/s you're applying for desiree. so often we throw out all that stuff (well at least I did) but after going through financial hardships with consolidation and all, i learned that taking some time to read the information regarding your account is such a small investment of time. happy Saturday :)

Hi desiree and welcome, welcome to the forums, we look forward to having you here. Our little community is growing by the day. I really can't offer anything new, looks like Debtstinker and Laura has covered the topic fairly well. Again, Welcome, welcome, welcome!

There you go, they should wave the fee. I don't know much about WAMU, I see their commercials on TV, in fact just tonight, but I am not all familiar with them and having a hard time reading the full post, got that side bar in the way.

Hi all. I have a WAMU card and never had a problem wtih them THOUGH i will not become a banking client as i've heard terrible stories about them. but the card is nice, no annual fee. when i first got it it was $1500 credit limit, and for me just coming out of a consolidation program, that was like hitting the jackpot. then 5 months later they doubled that limit because i have been very responsible and continue to be. i think that's the key no matter what card you choose desiree. see if CO will waive that fee should you be approved for WAMU or any other card. CO has been very accommodating to me, even though i don't use their card that much :) ONe word of advice desiree15...be sure if you do call CO to negotiate your annual fee or whatever, try to have a $0 balance as they are more adapt to working with you. that's just been my experience anyway. keep us posted

So is it a credit card, when I seen the commercial it seemed like a bank account to me, what is it???????????

they are very versatile and offer both. in fact they offer other services as well but without their site up and am very sleep deprived i can't remember everything they offer right now. but like i said the banking has very poor reviews. things like putting holds on accounts for major purchases,etc. i don't think i would ever bank with a major credit card company...just after reading some things online i don't want to take a chance. but really the main reason is we don't have a wamu or citibank branch near me and i like being in close proximity to where i bank that way i can sit face to face with a representative. WAMU is very prolific lots of people use them. i'm glad they gave me a chance with their card big time or we couldn't have afforded the things we needed desperately i.e. major car repair

So you have it as a credit card? You mention citibank in there, are they two connected?

Why are you not sleeping? Baby keeping you up? LOL.

Oh sleep what that is? baby, furries, and hubby snores all combined plus i'm like my dad a light light sleeper and have interrupted sleep when id o sleep. i need to talk to a doc, not for a prescription just to see if there are some natural ways to sleep. took a sleep aid once NEVER do it again. i slept the WHOLE next day and when i was up i could barely find the energy to eat. i'm a light weight though half a glass of wine gets me more than tipsy.

Yeah it's a credit card for me, I don't think that citibank is connected as the two are mutually exclusive companies. i could be wrong on that but i think so.

Yes D15, I am as sure as I can be they are connected pretty heavily and what you do with one account will surely influence your other cards. now we're thinking negative right now, that goes for positive activity as well i'm sure.

Hey Desiree,

There will always remain good and bad experience with any card. Frankly speaking most cards have the some policies just differs on few terms and conditions. Once you know all the pros and cons you will be geared enough to tackle an account easily. So go ahead and take a rational step. Utilize the cards well, credit reports wont be harmed in anyway. Just stick to your responsibility.

:)

Hi Brownsugar, good to have you here, I hope you will register and become part of our community. I have interacted with you quite a bit when I first went to the debt forum, you were so helpful to me, (I am hoping this is the same brownsugar).

Hi Sara,

This is a forum for credit repair discussions. This is definitely not the site that you are looking for.

Sara, you will need to visit the company webpage that you want to apply for the card, there are many out there, you just have to put the information into a search engine and many will come up, make sure that you look at the fine print, know about the intrest rate, does it stay where it is or does it go up, etc. You need to look at all the information so that you can make an informed decision. goodluck hope you find what you need.

please be sure to pay attentikon to all the fine print before signng on with any ompany. I also would not opt for one with any type of annual fee. There are too many cards out there that don't require any annual fee at all. If a card offers a low interest rate be sure to look and see if there is time period that it would expire in. There is lots to be wary of in the credit card world. You will be fine if you dfo your research.

Before applying for a credit card Sara, you must go through the guidelines and the terms and conditions in the application form. You should also find out whether you are comfortable with the annual charges associated with the credit cards and the credit limit that the credit card company will be offering you. Moreover, as fireyone said, you should also look at the interest charges associated with the card. One should perform an extensive research on different credit cards before applying for one.

Thing with credit cards is there is so much fine print, along with all the things mentioned above, know the reprocutions of being late, what are the fees? This is where I got in trouble. Got late and then the late fees took the card of the limit, the fees just added up and added up until it reach like four times the actual card value. It ended up with a collection agency.

I never thought this would happen to me, but it did. Just becareful and read all the information.

I have had the same exact thing happen erb1953 and it turned me off of credit cards for good. Some people have no problem with a credit card and I used to be so good and faithful about payments. But, its like when you start having money issues and you have that available credit there, it is just too easy to use to temporarily fix a problem. Nope, learned my lesson the hard way and am still paying for it.

But, I am not saying that people should not have credit cards. Most people should, but be really sure when you incur new debt that you are prepared to always pay it back on time, right amount, etc. Its that interest that seems to get ya. And the late charges and over the limit charges!

I have since paid them off, after the collection agency reported me and lowered more score. I don't mess with them at all now either. If I need it, then I will save up and buy it.

My sentiments exactly. Its funny, but the things that you think you can never do without, you can do without just fine!

Also........alot of people ( me, for example..) want to get credit cards to improve our credit. Well......as some things were said above, if you start getting behind in payments, this REALLY can DROP your score. The 'credit card' thing can be more of a hinder to you, then help.

I agree, I don't want another credit card, too much of a headache.

Recently I've gotten ALOT of Pre-Approval offers, for CC's, in the mail. Theu sound great..until, you read the fine print. The % of these things are SOOO high, it will take a life time (seems like) to pay them off. i was in a situation like this before........NO MORE CC's for me.

I still get sick in my stomach about the ones we absolutely had to take out last year. It really aggravates me when over half the payment is interest. I can not wait to pay them off so I can call and say please cancel my account.

I had an Imagine card. VERY HIGH % on it. I din't think it was as high as some people said. I would say more than half the payment I made, each month, was for the % only. That's crazy!! I think it did me NO favor, to my credit. It just got to the point that they were tacking on fee after fee, after fee.

Know the feeling. Seems like an endleaa cycle. I wish my atty would get off their rich butts and settle my case so I can pay these people before I have a stress attack.

How long has it been fireyone? Have they even started the negotiations? Have they given you any indication of how much or when it will all happen? I hope it is soon for you, but don't leave us, stay please. We would miss you if you got a big chunk of change and then deserted us! :wink:

It has been by my figurement toooo lllooonngg. They just got my case report together at the end of week before last. Now the atty has to go over it, assign a value and put it in the mail. I know that makes it seem close but I no better than to wish. I think if I didn't call and keep on thier but they would leave me with nothing leftover after med.
It was just accumulating at an extremely fast rate and they still were not moving. Remember I have all the co pays and 20% to pay out of MY pocket until this settles. Do you know how many med bills I pay on each Fn month??????And if they would just settle our ins. com. will then cover at 100% ...No idea how much because they haven't assigned a value and do you know they had the nerve top say they would mail me a letter when they got that all figured out...What happened to the telephone???
Also they have no way of kn owing what coverage she had so I love waiting. Just my lsot wages are over $3000. how annoying all this is when you can barely make ends meet and lose sleep over it.

Hopefully you will know something in a month or two or sooner. I am hoping you get it before your intrest is tacked onto your card. goodluck hope it gets here soon.

I know this is making me really sick in my stomach. It is November that the interest is tacked on and we haven't got much paid down. It will probaly be at least a thousand in back interest which will put it over the credit limit....I keep thinking here we go again. I am going to give it until mid October and go to the bank. I just can not see how we are going to make another payment, especially one on $5700...I can only imagine what it will be a month.

You can rebuild your credit by gettinga secured credit card.

Yes, that's true. But right now, I just want to get rid of all of them and not have to think about credit cards or loans.

Hi Lorri
If your credit cards are old and if you have a good repayment history with these cards, then I think that you should not close these cards since 35% of your credit score depends upon your payment history. However, you can close them if you think that the annual fees are high and you are not in a position to pay it. But if the cards come with zero annual fees, I would suggest you not to close them. All that you can do is not to use these cards for making payments.

Thats true----right now, I am just trying to keep up witht the payments.

hat is about where I am too Lorri. I can not even get anything paid down, just making payments barely over the min. It has been an awful past couple years. The accident, then moving , job loss due to arm and economy...wow I think I just got 5 more gray hairs talking about it.

(Just a comment here)..I have a CC with a $250.00 credit limit. It helps my credit and, of course, as I make payments on time (or pay the balance of each month), it gives me a 'ggod' credit history. Alot of people think if they have several CC's, this would give them alot of credit. Actually....what's the use of having several CC's if you can't make the payments on them? I would have 1, maybe 2 and make timely payments to help your credit.

I work with a non-profit credit counseling agency and from my experience Capital One is less that lackluster when it comes to customer service and rewards offers.

Just my experience with dealing with consumers with credit cards.

If I want new credit card with extra credit limit, is it possible??