09-13-2012 04:14 PM - edited 09-13-2012 04:15 PM
First off I'd like to thank this great community for helping me find my way after a very long and ardous climb to rebuilding my credit! I've spent a LOT of time repairing, removing negs from my CR. It has helped me immensely. Not long ago my scores were in the low 600's. Today my median score is a 730. I am still in rebuilder mode, but with my scores was always depressed about the fact I could not get approved for a regular unsecured card. I took some great advice from some members here learning how to eventually get an unsecured. Even though my CR is almost completely clean (one CO from hsbc about 5 years ago which was paid, and only shows on experian) I opened up a walmart card, and a cap one secured. This was about a month ago. I was also told to open a BoA secured as well to have 3 active cards showing on my CR, and hopefully after a year i would be in a good position once again to get prime bank approval.
While I was set to apply for the BoA secured tonight, something came over me. I know they put a HP on your report even for the secured. I said since that's the case maybe i should try for an unsecured. Now I know i'm not at the point where the prime banks would likey give me an approval (Chase, Amex etc) so I decided to take a risk on the Cap one cash back card. Credit Karma showed I was very likely to get approved so I bit the bullet and tried. It was a risk and I did not think I would be approved, but to my surprise I was, with a $500 CL. Nothing special, but it's a start! Thanks to this wonderful community.
09-13-2012 04:24 PM
Congrats on the unsecured card!
Treat your cards well and you'll have a portfolio in no time.
09-13-2012 06:32 PM
Cheers to your new card. Love the instant cash rewards G.L. on your CC journey well on your way to awesomoe cards.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.