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@MountainHiker wrote:
@sgs10 wrote:Did u try with credit union or secured cards?
Which CU'S would be ok with a single 2010 collection on my credit report?
Best thing is to contact several local CUs. You can walk in with CR and ask them what they think. That is nice thing about CUs. You can get impression what they will do before you even apply.
As for GEMB cards, I always recommend Walmart if you have one near you. GEMB CLI policies are great and free monthly TU FICO8 score is unique.
@Crashem wrote:
@MountainHiker wrote:
@sgs10 wrote:Did u try with credit union or secured cards?
Which CU'S would be ok with a single 2010 collection on my credit report?
Best thing is to contact several local CUs. You can walk in with CR and ask them what they think. That is nice thing about CUs. You can get impression what they will do before you even apply.
As for GEMB cards, I always recommend Walmart if you have one near you. GEMB CLI policies are great and free monthly TU FICO8 score is unique.
Would you recommend apping Walmart online or in the store?
I think it is better in store and you get that discount as well.
Is that collection paid? Is it the only derogatory on your reports?
If so, let that Wells Fargo tick over the one year mark and look at entry cards from the big lenders, the usual list with one year of recent positive history on a revolver:
- Amex Zync
- Chase Freedom
- Discover More
Several others come to mind, including some CU's (*not* Penfed). If the collection is not paid, try to do so pre-applying, it'll help out your approval chances quite a bit even if it doesn't improve your FICO score directly. Otherwise, there's options like BOFA on their rewards-enabled secured card which will reliably graduate, or you could probably qualify for their counter-offer on their standard 1-2-3 rewards package too.
I think you can do better though if your credit history supports it, and you're close if you're just willing to be a bit patient you'll do a lot better in the near future. 12 months revolving is one of those magic hurdles for underwriting.
@Crashem wrote:I think it is better in store and you get that discount as well.
Thanks Cashem
@Revelate wrote:Is that collection paid? Is it the only derogatory on your reports?
If so, let that Wells Fargo tick over the one year mark and look at entry cards from the big lenders, the usual list with one year of recent positive history on a revolver:
- Amex Zync
- Chase Freedom
- Discover More
Several others come to mind, including some CU's (*not* Penfed). If the collection is not paid, try to do so pre-applying, it'll help out your approval chances quite a bit even if it doesn't improve your FICO score directly. Otherwise, there's options like BOFA on their rewards-enabled secured card which will reliably graduate, or you could probably qualify for their counter-offer on their standard 1-2-3 rewards package too.
I think you can do better though if your credit history supports it, and you're close if you're just willing to be a bit patient you'll do a lot better in the near future. 12 months revolving is one of those magic hurdles for underwriting.
Thank you.I'm trying to be patient but sometime I fall short.It feels weird to have decent credit scores and to have gotten approved for an expensive car ,yet I can't get a prime card.My credit file is exactly why i'm not trying for any other prime cards till march 2013.But I would like to get a sub prime if possible.
@MountainHiker wrote:
@Revelate wrote:Is that collection paid? Is it the only derogatory on your reports?
If so, let that Wells Fargo tick over the one year mark and look at entry cards from the big lenders, the usual list with one year of recent positive history on a revolver:
- Amex Zync
- Chase Freedom
- Discover More
Several others come to mind, including some CU's (*not* Penfed). If the collection is not paid, try to do so pre-applying, it'll help out your approval chances quite a bit even if it doesn't improve your FICO score directly. Otherwise, there's options like BOFA on their rewards-enabled secured card which will reliably graduate, or you could probably qualify for their counter-offer on their standard 1-2-3 rewards package too.
I think you can do better though if your credit history supports it, and you're close if you're just willing to be a bit patient you'll do a lot better in the near future. 12 months revolving is one of those magic hurdles for underwriting.
Thank you.I'm trying to be patient but sometime I fall short.It feels weird to have decent credit scores and to have gotten approved for an expensive car ,yet I can't get a prime card.My credit file is exactly why i'm not trying for any other prime cards till march 2013.But I would like to get a sub prime if possible.
It's because there is a difference between secured vs. unsecured debt. Secured debt like an auto loan is much easier to obtain, simply because if you don't make your payments they repossess your car.
With unsecured debt like a credit card, they don't have this option. If you used your credit card primarily for food and dining purchases, they can't repo what you ate 8 months ago. This is what makes lenders more wary.
@CreditScholar wrote:
@MountainHiker wrote:
@Revelate wrote:Is that collection paid? Is it the only derogatory on your reports?
If so, let that Wells Fargo tick over the one year mark and look at entry cards from the big lenders, the usual list with one year of recent positive history on a revolver:
- Amex Zync
- Chase Freedom
- Discover More
Several others come to mind, including some CU's (*not* Penfed). If the collection is not paid, try to do so pre-applying, it'll help out your approval chances quite a bit even if it doesn't improve your FICO score directly. Otherwise, there's options like BOFA on their rewards-enabled secured card which will reliably graduate, or you could probably qualify for their counter-offer on their standard 1-2-3 rewards package too.
I think you can do better though if your credit history supports it, and you're close if you're just willing to be a bit patient you'll do a lot better in the near future. 12 months revolving is one of those magic hurdles for underwriting.
Thank you.I'm trying to be patient but sometime I fall short.It feels weird to have decent credit scores and to have gotten approved for an expensive car ,yet I can't get a prime card.My credit file is exactly why i'm not trying for any other prime cards till march 2013.But I would like to get a sub prime if possible.
It's because there is a difference between secured vs. unsecured debt. Secured debt like an auto loan is much easier to obtain, simply because if you don't make your payments they repossess your car.
With unsecured debt like a credit card, they don't have this option. If you used your credit card primarily for food and dining purchases, they can't repo what you ate 8 months ago. This is what makes lenders more wary.
Thank you.
@Anonymous wrote:
You should join NFCU and app for the. cash rewards
Do they approve people with a fako two year old collection?