Opensky CC

[credit3xhausted]

If all you have on your credit report is bad debt, then PFD!!!!

If nobody is willing to take you up on that, then build credit with a secured card and possibly store cards at a later time.  I personally did not have the luxury to pay my debts beforehand because it was over $10K plus I had foreclosures and repossessions.  I managed to consolidate my bad debt (C/O and collections).  I disputed some old duplicate negative items.  I GW my repo and got it removed.  Since I knew that I was in for a 12-18 month plan in the rebuilding I went ahead and got secured cards.

Since you have only a few and are within reason to pay I would take care of the CA and CO first.  By taking care of the bad debt first, you start with a clean slate.  I am almost positive that with a clean slate you can do better than a secured card.  I.E. newcommers, college credit cards (assuming you are in college).

[newportguy]

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@2FixMyCredit wrote:

I will be getting an Opensky CC within a couple weeks and had a some questions.

It reports as unsecured right?  YES

When is the bill usually due?  26th ...... Reports on the 1st of each month

Does anyone know what date the bill is sent out (or from your experience)? You need to go paperless to save $3 a month

How many days do you normally have to pay the bill? 25 Days

To the Gurus, my score is currently a 558, how likely is it that I can get it to a 620 with just this one card?

I currenty have 2 collections and one charge off.  The collections I have disputed and the charge off I am trying to get straightened out as well.

Thanks!

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[2FixMyCredit]

Newportguy, thank you for the answers! This really helps. 

[newportguy]

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@2FixMyCredit wrote:

Newportguy, thank you for the answers! This really helps. 

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UR Welcome

[creditikhan]

ItFirst let me say that I'm sorry you're having such a hard time, most of us have been there. It can feel like an uphill battle, but definitely one that you can win easily if you understand the art of war and approach it with the right strategy. Analyze you past bad habits that got you here and learn from those mistakes. The real key here is patience and perservance. If you set realistic expectations you will rarely be disappointed. With all that being said here is my advise (the short version)
1. Pull your credit reports for all 3 bureaus. DO NOT do it online. Contact each bureau directly and request that they mail you one. Online reports are a striped down version of your actual credit file.
2. Review the reports for inaccuracies and dispute (NOT ONLINE - write letters to the bureaus) anything that is not scheduled to drop off within the next 6 months. ***IMPORTANT that you leave your oldest revolving or loan acounts (even if negative). This is what helps to establish the age of your credit. Deleting them will only hurt your score.***
3. Secured cards are gateway cards - CapitalOne (best option), OpenSky, Applied Bank... get all 3. Annual fees sucks, but we all pay a price one way or another to fix our mistakes. ***IMPORTANT that you keep the useage to a minimum of these cards at all times. Never spend above 20% of the available balance.***
4. Get an American Express Prepaid card. Load funds on it and use it regularly.
5. Open an account with a Credit Union if you don't already have one.
6. Set alerts for all you accounts, autopay your credit accounts (make sure you're reviewing your bills) - ontime payments matter!!!

There are a few other things, but again, this is the short list. The credit system is a game of chess, the only difference is that the impact has long lasting effects on your life. Learn how to play by understanding the rules of the game. The bureaus are in no way your friends, nor do the want to see you succeed by reaching the 700/800 score club. They profit from warehousing our information and our failures.

Anyway, I hope my babblings are somewhat helpful to you. Feel free to hit me up if you have any questions. It's your move...

[injustifiiable]

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@2FixMyCredit wrote:

Yes I did after many hours of talking to a crazy number of people I got the final answer of "our secured card isn't going to help your situation because you have two collections"

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LOL this is hilarious. I was approved for mine when I had three collections (I've since got them removed, but still.)

[umbrellagirl]

Opensky isn't a credit card you would want. This card doesn't have any benefits. They take twenty bucks from your card if you are one hour late. Businesses know this is a low end card.

[ktl72455]

Check out SDFCU for s secured card.