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Apply For Secure or Unsecure CC?

New Contributor

Apply For Secure or Unsecure CC?

Credit Score now 680. No revolving lines of credit. Multiple late payments still showing on CR.

Should I apply for a Secure or Unsecure card? Reason?

Should i try to get a Public Savings CC since it will not show an inquiry?

Message 1 of 4
3 REPLIES
Frequent Contributor

Re: Apply For Secure or Unsecure CC?

Might want to try some of the preselectors like amex, discover, cap1.

 

I would say unsecured if your scores are correct


Starting Score: EQ 515 TU 490 EXfaco 510
Current Score: EQ 660 TU 665 EXplus 661
Goal Score: 700


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Message 2 of 4
Senior Contributor

Re: Apply For Secure or Unsecure CC?


Celle31 wrote:

Credit Score now 680. No revolving lines of credit. Multiple late payments still showing on CR.

Should I apply for a Secure or Unsecure card? Reason?

Should i try to get a Public Savings CC since it will not show an inquiry?


It is important to get a least one CC to improve your credit.   I don't think inquiries are very important since you have the late payment negatives on your report, I would not worry about a using a few of them up.

 

I suggest you apply for unsecured card with someone who offers both and take the secured card if you don't qualify for unsecured.   If you have a need (and the funds)  for a higher limit card, you may want to consider a secured card anyway   

 

Among the major banks,  I suggest  Capital One first choice, Orchard(HSBC) second.  

 

I think your credit is too good for Public Savings Bank, but I would recommend them if you can't get secured cards from anyone else.  

 

I have secured cards from Capital One, HSBC, and until recently PSB.     Here is my experience with them.

http://ficoforums.myfico.com/t5/Credit-Cards/Public-Savings-Bank-Secured-Card-Post-Mortem/td-p/88381...

 

   

 

 

 

Message 3 of 4
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Established Member

Re: Apply For Secure or Unsecure CC?

With those scores, you should have no problem getting an Unsecured Card. I just got my first credit card last month and it was unsecured (Capital One Standard Platinum). Smiley Happy

Message 4 of 4