Bad credit but I need a credit card or charge card.

[Creditobsessed12]

Hi all,

My credit is really bad!  It is 521 because of some past collection accounts but I am in the process of rebuilding.  I heard that it may be easier to get approved for an Amex Charge card rather than a regular credit card.  Is this true?  I know that I should go the secured card route but I would prefer not doing so.  My income is ok (around 50K).  The only good account I have is my car loan but I have only made 5 payments so far.  I have no revolving credit becuase I closed all my cards once I paid them and now they refuse to reopen them. 

[MsKiwi]

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@Elizabethd1012 wrote:

Hi all,

My credit is really bad!  It is 521 because of some past collection accounts but I am in the process of rebuilding.  I heard that it may be easier to get approved for an Amex Charge card rather than a regular credit card.  Is this true?  I know that I should go the secured card route but I would prefer not doing so.  My income is ok (around 50K).  The only good account I have is my car loan but I have only made 5 payments so far.  I have no revolving credit becuase I closed all my cards once I paid them and now they refuse to reopen them. 

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I don't think you can qualify for an Amex with a 521. Try the capitol one or hsbc preapproval sites. Come to think of it, Amex does have a preapproval as well. These do not involve an inquiry unless you apply. Try these first and then you may want to try for a secured card if all else fails.

[DI]

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@Elizabethd1012 wrote:

Hi all,

My credit is really bad!  It is 521 because of some past collection accounts but I am in the process of rebuilding.  I heard that it may be easier to get approved for an Amex Charge card rather than a regular credit card.  Is this true?  I know that I should go the secured card route but I would prefer not doing so.  My income is ok (around 50K).  The only good account I have is my car loan but I have only made 5 payments so far.  I have no revolving credit becuase I closed all my cards once I paid them and now they refuse to reopen them. 

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Absolutely not!    You will need to improve your scores before apping for any Prime cards.  A secured card is your best option and route.