Best Rebuilder Cards

[FretlessMayhem]

Hello everyone! I'm not sure who all is around here still from the old days (I see llecs and Scamp), but it's nice to meet all of you! I've been away from here for several years, so I'm not sure what all criteria has changed for all the credit cards since. I haven't kept up on it.

Due to life happening, I am currently in the process of rebuilding. I'm trying to dilute some of the negative TL's on my report, but, unfortunately, this is hard for me as I have burned quite a few of the popular rebuilders. For instance, having burned Capital One, I am currently ineligible for their secured card. Others on the burned list include BofA, Wells Fargo, Discover, and GEMB.

Does GEMB blacklist, or has anyone had any luck being approved for one of their cards after burning them?

I burned Amex also, but got the Oasis mailer recently, paid off my balances, and jumped at the chance to get back in their good graces. The main motivator was knowing when I'm prime again, I'll be able to get approved for cards from at least one prime lender.

Currently I have the Merrick secured for $1000. I also just applied for the PNC secured and sent a cashier's check for $2500. Amex said they will send me the paperwork for an Optima card with an $800 limit. I also took out a secured loan from my local credit union so I could have a positive TL. I may send in a check to Merrick to max out that CL at $3000 in order to help with util, but since they sometimes give unsecured CLI's, I'm holding off for now. I'm also in the process of joining DCU so I can apply for their secured Visa. That's supposedly one of the best secured CC's.

I was shot down for a US Bank secured card, as well as a Barclay's Rewards MC. I am going to recon Barclay's tomorrow, but I'm not holding out much hope with my awful scores.

What cards have you guys had luck with recently? Thoughts and words of encouragement are welcome! Also, if any of you 2008'ers are here (ivyalmighty?), make sure to say hi!

[somotao]

IMHO I think that you have enough cards to begin your road upwards. I would stop applying for any other credit cards and use the ones you have even though they may be secured cards. Use them to build about 6 months to a year positive history of ontime payments (This should be your primary focus). Barclays loves to see 6 months of positive payment history before giving out credit. Your Secured Loan from the credit union will help you as well.

[09Lexie]

Welcome back FretlessMayhem! You have listed quite a few that are not too forgiving. GEMB does not blacklist so you might have a few options later on. Sounds like you are adding quite a few tradelines now and without knowing the specifics of your credit file- you might want to let those garden for awhile. DCU I has an excellent secured card and I'm sure you are aware that they will do 2 HP's ( membership and credit). Assuming they accept your membership ( lately they have been declining new members) then hopefully you can get their secured card. Four cc's plus a possible recon from Barclays would be a nice start to rebuilding your profile.

[jetsfan2013]

IMHO the cards you have already applied for/set up are more than enough to rebuild.

[MovingForward_2012]

You're off to a great start! I did the bulk of my rebuilding with the Orchard Bank card alone for 3 years with an auto loan and student loans as well. In July 2012, I got the Cap1 Cash Rewards card as a second card until December when I got approved for the Freedom. I now have 3 more cards (BB, Discover It, and Barclays) as well as the auto loan is paid off from my deep rebuilding days and I have an auto lease reporting since Nov and a mortgage reporting since March. Once I got 3 years of revolving history, things really took off for me. So join me in the garden after Barclays recon. Welcome Back!

I just got approved for the Barclays Rewards MC. $2500 CL on recon. Their recon was the easiest! They said I was denied but wanted to ask me some questions to see if they could approve me today. Be ready to explain what is on your credit report. Good luck on recon!

[a3quit4s]

I agree that you have enough but I rebuilt with a BoA secured

[FretlessMayhem]

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@09Lexie wrote:
DCU I has an excellent secured card and I'm sure you are aware that they will do 2 HP's ( membership and credit). Assuming they accept your membership ( lately they have been declining new members) then hopefully you can get their secured card.

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Lexie, I had no idea. I'm thinking twice about sending my application in now (it wouldn't work online, they had to send me a paper one). I didn't think anyone would be declined for a savings account based on their FICO. Hmm...

[FretlessMayhem]

Thank you everyone for the tips. Barclay's denied my recon attempt, unfortunately. The CSR stated, just like you guys did, that they would like to see a bit more positive history before approval.

[LisaJ]

I remember you. Sorry things have happened to send you back into rebuilding, but glad you have somewhere to turn for support. I think you are in good shape and need to do some gardening, and then reapp barclays in 6 months or so. Welcome back!

[09Lexie]

DCU does credit qualify members. With that said, YMMV on whether your file is acceptable to them. Not trying to stop you from applying- just didn't know if you were aware.