"Got Approved And CLI Shortly After!"

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Written by: emosmurf on 2009-05-10

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emosmurf's review: Callout Comment I wasn't confident that I was even going to get approved for this card. I have 2 chargeoffs, 2 judgments, 2 collections for medical bills and also on the above mentioned chargeoffs. I do have some satisfactory accounts on my CR such as a long paid off car loan, a $1000.00 line of credit/overdraft protection attached to my checking account that is at a 0 balance, a Victoria's Secret card for $300 that is also at 0 balance, and a recently new car loan that I've been paying as agreed on. I was persuaded by the cashier to apply for the Best Buy RewardsZone Mastercard, and I reluctantly agreed. I'm glad she pushed the issue because I wound up getting approved! $410 Cl w/t $59 AF. My card arrived within 10 days and I immediately paid off the AF. A couple of days after my payment for the AF posted to my account I called up customer service and told them I was having seconds thought about the card. I said that $59 was too steep for a card with only a $410 CL. I told them I wanted to close the card. That did the trick. I was offered a reduced AF of $29 and they would refund me the difference that I had already paid. I told them I'd rather have a CLI and the CSR immediately raised it to $610. I'm going to call back in 6 months and request another CLI and use the $59 AF to my advantage. My argument will be that I'd better get the occasional CLI to make it worth me paying such a high AF.


Comment 1 by meya
Way To Go User Icon on 2009-05-11

Remarks Now that is what I am talking about, stepping up to the plate and demand a waiver on the annual fee and any other fee that is attached to the card. We already took the hard hit, what else can we loose/ Nothing!
Comment 2 by emosmurf
Hi Meya! User Icon on 2009-05-12

Remarks Thanks for the encouraging words! I've read a lot about you on this site, all postive ofcourse, and I truly appreciate that you share your personal experiences with building credit so openly and are so helpful with everyone on here. I'm in the right place to learn how to turn my bad credit around. I've learned a lot from reading your posts. I'm trying to rebuild my credit history and I know it's going to be a long road, but you have proved that it is possible.
Comment 3 by brian23
Good Job.... User Icon on 2009-05-15

Remarks That's the exact same thing I did when I got the card. The only thing is they will do everything in their power to prevent giving you the 6 month increase. Just be ready to stand ur ground. I am at my year mark and I still have yet to see a CLI, but as soon as that AF hits my account, I will call and close if they don't do something about it.

Let me know how it goes in 6 months.
Comment 4 by emosmurf
Thanks For The Warning... User Icon on 2009-05-16

Remarks I've heard that HSBC is very stingy about giving out CLI's. I plan on calling for another CLI in 6 months, but I won't be surprised if they decline me based on what you've told me of your experiences with them. I will definitely be closing my account along with you if I'm refused a CLI after that AF hits next year! That's ridiculous to be charged that high a AF with no chance whatsoever for CLI's.
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