01-22-2013 12:13 PM
I am working on rebuilding my credit, which is at 620 FICO.
What's the likelyhood of getting approved for the below credit cards at this score ?
Among the recommended cards from myFico are
Discover IT -
Citi Forward® Card
Citi® Dividend® Card
Anybody with a similar recent experience ? I read that I might be able to get approved Walmar GEBank, which other cards should I consider.
FYI - I am not planning on spending, just keeping my debt ratio in a lower level.
I have prior ChargeOffs, Collections, but nothing current. (Average account 7 years or later).
Thank you for taking the time to read and respond.
01-22-2013 12:28 PM
01-22-2013 12:35 PM
the Discover It will requite a 670-680, the other two will require a 700 minimum and probably closer to 720 for a sure approval
01-22-2013 12:35 PM
I'd give Discover a shot. I think people here think they are harder to get approved for when they actually are. They approved me with little credit history (granted, not bad credit), and there seem to be a lot of "surprise" Discover approvals here.
What is your utilization now? If you can raise your score by paying down some debt, do that first if possible.
01-22-2013 12:38 PM
I personally would not waste the inquries on those cards... maybe discover it but im not sure what the criteria is for that card.
id say you have a good shot at walmart, and maybe even discover walmart (with the aaoa) they exclusively pull tu.
do you have any recent baddies? seems like your score is pretty down there.
what's you r util?
|Current: EQ 735 Discover 9/5/13 Walmart TU 730 EX FICO 726 Amex Pull(1/1/13)|
Starting total revolving credit: $2600 | Current total revolving credit: 31k+
Inquiries (24 Months): EQ 8 TU 7 EX 8 | Most Recent: 09/04/2013
|Amex Zync(Unicorn) |
Citi Diamond Preferred$6000
01-22-2013 12:41 PM
Thank you for your advice.
01-22-2013 12:42 PM - edited 01-22-2013 12:49 PM
Imo u need at least 680+ for those PRIME cards. U should go for a secured card, credit union card if ur eligible like NFCU. But with that fico and ur history I would say ur wasting inquiries
I'd agree wih this for the most part although I've seen posters with scores in the 660's sneek in with discover. You might have chance with Gemb but even that is iffy with your current scores. As suggested above, a secured card or a credit union would probably be the best way to go in the short term.
I played around a bit with the card finder feature on this site that the op referenced, and I have to say that I find it to be extremely misleading. In no way, shape, or form should a citi forward be listed as a recommended card for someone with ficos between 540-640 (disregarding the fact that there are questions as to whether or not it has been discontinued). Yet under the cardfinder on myFico, this is the case. I encountered several other questionable recommendations as well. I would advise people to take the results they receive under this feature with a grain of salt, and suspect that paid advertising is likely the root cause of the problem.
Note- I'm certainly not trying to bash myFico and think that the site as a whole is excellent, I just think that this one particular service could be improved upon.
01-22-2013 12:52 PM
I am certanly taking every reply as a grain of salt and learning how to manage my score is my biggest priority. I am in for progressive credit score, which I know it takes time to achieve.
Needless to say, I have learned from my past financial mistakes, and now considering more careful options, so I can bring my score and credit reputation to the positive side.
I will let you all know the result of my decision.
01-22-2013 12:58 PM
I got approved with dicover with a 637 transunion score, I am the exception not the rule.
01-22-2013 01:15 PM - edited 01-22-2013 01:16 PM
I got the Discover more with a TU around 630, probably a little lower. I noticed that when I was approved they told me I didn't qualify for their best interest terms so they adjusted the advertised apr. It didn't matter to me as I PIF each month. I hope that helps.
EDIT, I pc'd to an IT last month.
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