Am I ready to apply for a card?

[woozy]

This is what I applied for:
HSBC Platinum MasterCard® with Cash Back Rewards
Get unlimited cash back with no spending restrictions and no annual fee with the HSBC Platinum MasterCard with Cash Back Rewards!

• Earn a full 1% cash back on every card purchase you make with your card, regardless of where you make it.^
• Enjoy a 0% Introductory APR on card purchases and balance transfers for 6 months.*
• Take advantage of Platinum benefits like unlimited purchase protection, extended warranties, and rental car insurance.

To learn more about our card selection process, click here.

I'm getting ready to buy my real TU & EQ, so I'm not yet sure of my real scores. Since it's a soft pull, I figured it didn't hurt to try.

[Anonymous]

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@Anonymous wrote:

Is this card a "bank" card?

I got preapproved for a card, but it has a annual fee of $79, which makes me .

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Yes, HSBC is a bank card because it's issued by a real bank (recognized as such by the Federal Reserve). 

Sometimes people think MC or Visa constitutes a bank card - it doesn't.  MC & Visa are not banks, they are payment networks.

Sorry about the AF - I used my HSBC Orchard with AF for a little less than a year.  It helped me rebuild, so it was worth the one time AF for me. 

[haulingthescoreup]

I would definitely look into joining a credit union. They are generally much more willing to work with those who are new to credit or who are climbing back up in the saddle after problems.

Even if you didn't get a CC right off the bat, CU's can be great sources of auto loans, personal loans and so forth.

The Big Four banks (for consumers), including BofA, Wells Fargo, Citi, and Chase, have not exactly impressed people with their relations with us everyday people. They seem way more concerned with their commercial customers. There has been a noticeable movement toward CU's and local-only banks by consumers exasperated with the big guys.