Just crossed 600, what can I get approved for?

[OonaMission]

I think it was my approval for the 99/500 BOA card that finally broke me into the 600s. I'm going to take a shot in the dark and ask Capital One to reconsider since my score is now different from the day I applied, and I can show a credit card in good standing on my report now.

But my question...are there any other cards I might be approved for with scores in the low 600s?

[Anonymous]

What cards do you have already? With 562 score, I got walmart, Kays, Target, Macy's, Dillards and I can't think of the others right now.

[haulingthescoreup]

---

OonaMission wrote:

I think it was my approval for the 99/500 BOA card that finally broke me into the 600s. I'm going to take a shot in the dark and ask Capital One to reconsider since my score is now different from the day I applied, and I can show a credit card in good standing on my report now.

But my question...are there any other cards I might be approved for with scores in the low 600s?

---

If you can get it, I'd try Macy's.

But I'd really suggest that you get one more and then stop, and let them raise your scores on their own, and hold off getting back into the app business until you're up somewhere around 650, and then go for a credit union card. Wait again until you hit the 680's and above, and then start going for good stuff. It will happen sooner than you think, and this will save you from getting stuck with a bunch of duds that you'll hate this time next year.

[OonaMission]

I only have the BOA credit card. My only other loan is my auto loan.

I think you're right, one more card and then I'll wait til good payment history on that one brings me up even more. What's the purpose of a credit union card? And why does a merchant card like Macy's help?

After navigating negative items on my report for the past 6 months, I'm finally ready to learn the best combinations of good credit Thanks for the advice!

[haulingthescoreup]

A retail or gas card, one that has only the merchant name on it, and not + Visa, MC, etc., somehow helps your credit mix and gets you some points. It doesn't really make sense to me --I would think that it would be don't stop with store cards, be sure to get bank cards, too --but enough people have reported score improvements that I go along with it.

A CU card can be handy for having an additional bank card besides your BofA. If the BofA network goes down, or if there is some sort of fraud etc tying it up, you have a back up. It also helps your total credit limits, which helps if a balance ever reports.

CU's in general are much better about working with those who are new to credit, and those who are coming back from problems in the past. They tend to be more willing to work with problems, and they often have higher CL's than a similar card from a major bank.

Since you're in the admirable position of being able to plan out your credit future, you might want to read the FICO High Achievers thread in my siggy. We've collected the positives and negatives that members have gotten on their FICO reports, and they paint a picture of what a good, healthy credit report looks like. Since FICO high achievers generally have only 4 or 5 CC's, it shows the value of not getting the rebuilder cards if you can avoid it.

Message Edited by haulingthescoreup on 12-18-2008 12:56 PM