Credit card offer - haven't even gone to 341 yet

[ssmdem]

My husband and I both just got a credit card offer today from First Premier, and we haven't even been to our 341 yet. I shredded them, but both of them were for a $700 credit line with a $150 annual fee. No way I was going to do that anyway - but just wondering when the semi-decent offers might come in. I really don't want to pay an annual fee but would pay up to $50 if I had to just to get my credit rebuilding process started. Not concerned about the interest rate as we would paying off each month anyway. Just curious when to expect to see something reasonable in the mail.

[Ann]

Hi...I was just about to ask the same question. I just received a credit offer for the exact same terms. How many of you are familiar with First Premier? $150.00 seems extremely high for the annual fee...anyone??

[IBroke]

Hi...I was just about to ask the same question. I just received a credit offer for the exact same terms. How many of you are familiar with First Premier? $150.00 seems extremely high for the annual fee...anyone??

I got an offer from them as well but rejected - just too expensive. I think the interest-rate was 36%....

Once discharged, I'd go with CapOne etc.

[carlsbadmike]

Just after my BK, First Premier was the only company that would approve me. They have an annual fee of $75, and another one time fee of $125, and a 60%(gasp)interest rate on unpaid balances. I later got a Credit One card also with an annual $75 fee but with better terms and a 30% interest rate on unpaid balances. Both of them are paid off every month and both of them report to all 3 credit bureaus. Rebuilding my credit was the only reason I got these cards. Capitol One denied me, maybe because they were included in my BK7.

[Flamingo]

Realize that with a BK on your records you fall into a high risk group so banks offering high risk, high interest credit cards will target you. They know for a few years yet that your chances of getting a decent card are low so they hope they can at least get you to apply. Take your time and be prudent with your credit for the next few years by not being late with anything and not applying for too much credit - time is your friend after discharge. Nothing looks worse to a creditor than someone fresh out of BK and trying to reapply for several credit cards. You need to prove yourself again as creditworthy.

[Egr61]

I get credit card offers from Capitol One almost every day. It's ridiculous. I got 2 offers from some other companies today. I just shred them all. I was discharged a couple of months ago.