topic Re: Which Card should I apply for if any?? in Credit Cards

Which Card should I apply for if any??

CadillacMack — Fri, 09 Nov 2012 22:22:26 GMT

So I have been working hard to try to get my scores up and they have been coming up slowly and I am excited about that of course... But I would like a card that I could garden for a few months and rebuild my credit. Other than the 2 cards I am an authorized user on, I have no credit cards. My scores are still low so Im not sure what I should apply for or if I even should at this point. Scores are eq 566 ex 568 tu 571 not sure what card I could qualify for I only have 2-3 inquiries, I kind of don't want to do a secured card. If I have to I don't want to do one where I have to put more than $200 up front. Just looking for some advise it could even be about something else that you feel would help. :smileyhappy:

Thanks,

Cadillac Mack

Re: Which Card should I apply for if any??

distantarray — Fri, 09 Nov 2012 22:30:06 GMT

not many cards you would qualify for with those scores but just stay away from

First Premier

Credit One

and other subprime lenders. You could get a Capital One Platinum probably if not request a partially secured card option is the only one that you'll probably get approved for that's not super subprime.

The first two are like a viral disease for your credit report, some credit card companies can refuse your business just for having them on your reports. So don't do it!

Digital Credit Union is good but has to do secured card but they do graduate (unsecures) and with a masters degree ;) cause DCU is great for rebuilders cause they work with you as your scores grow.

if you can get in get a USAA or Navy Federal secured car as they graduate as well.

Hate to say it but besides super subprime lenders who coul hurt you in the fture not many you could apply for unless you have someone willing to put you as a joint card holder on a Macy's card. if their score is aboe 720 in person with their name uptop your credit score won't even get checked and you'll get a Macy's store account and a Macy's Amex without even an inquiry

Re: Which Card should I apply for if any??

CadillacMack — Fri, 09 Nov 2012 22:37:24 GMT

distantarray wrote:
if their score is aboe 720 in person with their name uptop your credit score won't even get checked and you'll get a Macy's store account and a Macy's Amex without even an inquiry

Thanks for your speedy reply wow LOL! Yea I kind of figured the same. I have an amex that im an authorized user on and it has no limit so it really doesn't show anything on my report, funny. So I guess I will see if my friend will help me with a macy card like you said. Her score is pretty high, so does that mean if I went on like a joint discover account with her they wont even pull my scores?? You kind of lost me there, sorry still learning these LOL.

Thanks again.

Cadillac Mack

Re: Which Card should I apply for if any??

SnackTrader — Fri, 09 Nov 2012 22:37:42 GMT

I went back to some of your history and noticed that you mentioned getting a secured Capital One card - did you decide against that?

I think your best plan of attack is definitely a secured credit card. Look through the forums and try to find one that reports as unsecured on your credit reports. Take at least 6 months or one year on that card, and move from there. Slow and steady wins the race.

Re: Which Card should I apply for if any??

distantarray — Fri, 09 Nov 2012 22:41:28 GMT

CadillacMack wrote:
distantarray wrote:
if their score is aboe 720 in person with their name uptop your credit score won't even get checked and you'll get a Macy's store account and a Macy's Amex without even an inquiry

Thanks for your speedy reply wow LOL! Yea I kind of figured the same. I have an amex that im an authorized user on and it has no limit so it really doesn't show anything on my report, funny. So I guess I will see if my friend will help me with a macy card like you said. Her score is pretty high, so does that mean if I went on like a joint discover account with her they wont even pull my scores?? You kind of lost me there, sorry still learning these LOL.

Thanks again.
Cadillac Mack

joint account with authorized user and no credit pull only applies if you apply in person and ONLY with Macy''s and I think Bloomingdales not sure about bloomingdales though but Macy's for sure. But remember if she's willing to do it for you she's got to have a lot of trust in you =P

Re: Which Card should I apply for if any??

isoldmyatlas — Fri, 09 Nov 2012 22:43:31 GMT

My SO has scores similar to yours due to a medical collection (thankfully falling off in February). He applied for the Bank of America 1-2-3 Cash Rewards card and was denied, but was counteroffered the $99/$500 partially secured card. You may want to try for that, especially since it will eventually unsecure if you treat it well, and you can even PC it to another card.

Re: Which Card should I apply for if any??

CadillacMack — Fri, 09 Nov 2012 22:44:22 GMT

Uhhh, I didnt really decide against the cap one, I had just read so many negative things about them I just wanted to do more research I guess and see what else could be out there for me, if any. I do however see your point and I may just do that, and get the cap one card.

Thanks,

Cadillac Mack

Re: Which Card should I apply for if any??

distantarray — Fri, 09 Nov 2012 22:48:00 GMT

capital one is not terrible but just the card will never grow withyou unless you threaten to stop business to their executive office when you get better cards. Which is not the best way to do business, since majority of their cash is generated from sub-prime loans, but with the venture card and cash back card they can somewhat compete with prime cards so that's why they're not reflected very bad like the others.

Capita one and DCU would be my top two choices or start, and probably a wells fargo secured or a local credit union if possible, just make sure the card graduates, you don't want to lose AAoA when you close the accounts for better ones.

DCU is good cause they givve you a free fico score monthly for having an account with them Fico EQ04

Re: Which Card should I apply for if any??

SnackTrader — Fri, 09 Nov 2012 23:17:35 GMT

Since I don't know much about secured cards I will just share this thread with you. I'm not sure how accurate all of the information is, but these posters seem pretty sure about the cards, and there are links to product pages within the thread.

Good luck!

http://ficoforums.myfico.com/t5/Credit-Cards/Secured-card-that-graduates-to-unsecured/m-p/1402630/highlight/true#M388238

Re: Which Card should I apply for if any??

toppers555 — Fri, 09 Nov 2012 23:34:15 GMT

Bofa has been very good to me tbh , I never have had an bad experience with my card that started secured ,and unsecured 2 months ago. I know alot of people complain about AF , but In my honest opinion , I think some people need to get off their high horse. 20-40 is not that big of a deal.

Re: Which Card should I apply for if any??

CadillacMack — Sat, 10 Nov 2012 00:05:10 GMT

distantarray wrote:

Capita one and DCU would be my top two choices or start, and probably a wells fargo secured or a local credit union if possible, just make sure the card graduates, you don't want to lose AAoA when you close the accounts for better ones.

DCU is good cause they givve you a free fico score monthly for having an account with them Fico EQ04

Is this credit union only for people in that state? Ive never seen any of these banks in NC.

Re: Which Card should I apply for if any??

Wolf3 — Sat, 10 Nov 2012 03:42:55 GMT

CadillacMack wrote:
Uhhh, I didnt really decide against the cap one, I had just read so many negative things about them I just wanted to do more research I guess and see what else could be out there for me, if any. I do however see your point and I may just do that, and get the cap one card.

Thanks,
Cadillac Mack

Capital One is one of the best for people builidng and rebuilidng credit. AF and terms are reasonable. You can try the prequalify on their website, and they generally approve what the offer you. I suggest you do that and take the best they offer, even the secured card.

This site includes a lot of Capital One bashers and AMEX proponets. I disagree with both.

Re: Which Card should I apply for if any??

CadillacMack — Sat, 10 Nov 2012 05:06:50 GMT

Do anyone know anything about Continental Finance Matrix Discover credit card?

Re: Which Card should I apply for if any??

Sneekn4u — Sat, 10 Nov 2012 05:55:02 GMT

Matrix? I just got one and it is my first of 2 starter cards (other Cap1) I jumped on the Matrix without looking up info on them, I don't think I read one good thing. $100 deposit for $300 limit and bill was in the mail (annual fee) the same day the card got here. Rates are through the roof, $10 charge to pay by phone , $75 annual feeI and closed on the weekends. The only thing good about it was it jumped by score by 44pts :) As far as the Cap1 I got nothing bad to say about them at all. Take the cap1 card over Matrix..trust me. If you don't beleave me just read what people have to say about them.

Re: Which Card should I apply for if any??

CadillacMack — Sat, 10 Nov 2012 14:30:48 GMT

Thanks for your reply and the advise. Yea I think I will just get the cap one card for now and garden that to see where that will take me.

Thank you all,

Cadillac Mack