APPLIED BANK wilmington, Delaware

Your situation is indeed unfortunate Amir, and if you check out other credit card issuers here on this website...you'll find there are many, many, complaints. 

I am a little puzzled by your comments though.  Near the end of your posting, you indicate you have children; are in a dead-end job, and live on a low income.  Yet, in the first paragraph of your posting, you indicated you still have 4 other credit cards.

What I will say to you here is not intended to be condescending or to downplay the seriousness of your situation, but rather to hopefully provide some suggestions that may be useful.  To begin with, I would commend you for your efforts in trying to repair your credit record.  Secondly, when a person is having to live on a low income from month-to-month (as you indicated you do)...it is very unwise to go and obtain multiple credit cards...even though you are attempting to improve your credit rating.  (This is even more significant in your situation since you have children as well).

You have to live within your means.  It is very easy to get caught up in the credit card trap.  Since the Congress passed new laws regulating the banking and credit card businesses, the banks have dramatically increased their interest rates and other fees.  Using multiple credit cards constantly to purchase goods and/or services may seem convenient, but it won't take long before most of your income is being used to pay your credit card bills.

You really need to work hard on paying-off those credit cards AND stop making anymore purchases using them.  Begin paying for the necessities you need by cash or check instead.  Keep in mind that there is a difference between "needs or absolute necessities" and things which are "wants."  "Wants" are NOT necessities, like groceries and health care are.  Eating out at fast food places or restuarants is NOT a necessity; that is something which may be an enjoyable activity, but is NOT a necessity.  You CAN live just fine without it.  Going to the movie theater is not a necessity.  If you have a TV and VCR/DVD player at home...you can just as easily rent a movie...and the cost will save you significant money compared to the cost of movie tickets. 

Sit down and look at where your money is going each month, then make yourself a budget and stick to that budget - NO exceptions!  Look for ways to reduce your expenses.  For example, let's say you have a home phone (landline) with a number of extra features, such as , Caller ID, Call Waiting, etc; consider dropping any of those extra features which you are paying additional money for each month on your phone bill.

Unless you have your own business (or other situation) where you absolutely have to have those extra features...drop them and just pay for a basic phone line.  The same thing if you are paying for some unlimited long distance calling plan.  With your low income level...you should not be spending money on long distance service just to talk to family or friends all the time.  Let THEM call you and/or write letters to keep in touch...at least until you are back on your feet, financially speaking. 

I would further suggest this.  If you have a friend or relative who is very good at budgeting their own expenses/managing their finances...ask them to help you out with making that budget I referred to!  The sooner you can set up a budget and begin living within that budget...the sooner you'll pay off those credit card balances and CLOSE the accounts.  Given your situation, I would say you should  retain at most... only ONE CREDIT CARD...for UNEXPECTED EMERGENCIES!  Get your children involved in the budget preparation as well.  Explain to them what you are trying to do and ask them to help you decide what things you can cut back on or eliminate altogether.  Talk to them about the difference between "necessities" and "wants."   


I am not some financial adviser, but like you, I DO have to subsist upon a limited, fixed, income each month.  Although, I do not have any credit cards, I do have a budget which I stick to!  This is something you CAN do!  It will take time to get used to living on a budget, but in the long run, the benefits you'll achieve will bring you and your family a much better quality of life; and that is priceless!

I wish you all the best!