Credit Cards

[awoodrow]

Is there a thread on here anywhere that suggests credit cards to appy for with scores in the 500's?

Thanks!

[Creditaddict]

secured cards might be best option.

[Pappy214]

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Creditaddict wrote:
secured cards might be best option.

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In this current economic crisis maybe the only option.

[awoodrow]

Ok thanks... are the banks more strict now?

[awoodrow]

Also I have applied for a Target card today and from what I understand you have a 10 day window of not losing anymore points when applying for other cards.  So I am going to apply for Capone, Orchard and hotters.  I will let you guys know what happens.

[Creditaddict]

well both cap1 and orchard will offer pre-approvals through there website, you CAN still be declined but you have a better chance if they pre-approve you. I would not bother applying if they don't offer you something.

and also I don't think there is any window for loosing points. but at your scores, you probably won't see any point loss for inq. 

[haulingthescoreup]

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awoodrow wrote:

Also I have applied for a Target card today and from what I understand you have a 10 day window of not losing anymore points when applying for other cards.  So I am going to apply for Capone, Orchard and hotters.  I will let you guys know what happens.

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There appears to be a de-dupe ("de-duplication") window for multiple apps with the same bank, but the jury's still out on whether this happens when the inqs are with different banks.

I can promise you that all my inqs showed up, even the ones that occurred within a 4-day period, and they were listed as one of the things hurting my scores. For an entire year.

I wouldn't go madly apping without doing a bunch of research first. And yes, the banks are most certainly tighter now!!!

Also, there's a big difference between a 501 and and 599, so I'm not sure where you are with "scores in the 500's."

[concorduser]

With your scores, my suggestion get one or two store cards and one major card and stop apping for 6 months. let the accounts and let you scores improve and then you can apply for another one or two better cards. After 18 months your scores should be well in high 600's and you can move up in the chain. Also if you have any baddies on your credit report, this is time to cleanup credit reports.

[awoodrow]

My problem is getting my foot in the door.  No one seems to want to give me a chance.  I cant even get store cards.  I have uppaid tax liens on my reports and no one will take me.  I think I will have to go with crown jewelers for now and see if it helps.  I am working on getting these tax liens off but its going to take a while.  I was hoping to get a credit card and start building my credit while getting these liens off.

[mamalawery]

dh has 2 tax liens on his report, and he got approved for a secured orchard card back in 2007. try boa secure too.