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New Contributor
Posts: 73
Registered: ‎10-06-2010
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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?

Frequent Contributor
Posts: 306
Registered: ‎01-12-2011
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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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Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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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...

 

   

 

 

 

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Established Member
Posts: 41
Registered: ‎03-27-2011
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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

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