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Personal 1st app spree *Updated 8/22

Established Contributor

Re: 2nd card after lackluster year with Wells Fargo Secured

Give us an update on the Cap One card and if you try walmart, good luck!

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Message 21 of 49
Valued Member

Re: 2nd card after lackluster year with Wells Fargo Secured


CruzImperial wrote:

Give us an update on the Cap One card and if you try walmart, good luck!


 

I did get walmart, that was the instant approval for $150.00. I'll use it for gas for the 5% cash back. I'll update the cl increase request in 4 months. That will be exciting!

 

I will definantly update on the Cap1. I believe their the pinto of subprime so there is still a chance.

CS 701, CK 682, Credit.com 719/ TU FICO 666 (DIS 8/12) EU FICO 658 (8/12)
After spree CS 738, CK 684, TU FICO 666 (Dis 8/5)

WF Secured 600Cl (7/11), Discover More 1.5k (8/12), Walmart 150CL(8/12), Cap1 Platinum w/Credit steps($300) (8/12)
Message 22 of 49
Established Contributor

Re: 2nd card after lackluster year with Wells Fargo Secured

Nice to hear! Congrats !! Smiley Very Happy

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Message 23 of 49
Valued Contributor

Re: 2nd card after lackluster year with Wells Fargo Secured

Check your mail, I sent you a PM.


Starting Score: EQ 653 6/21/12
Current Score: EQ 703 8/5/17 - EX 743 8/5/17 - TU 731 8/5/17
Message 24 of 49
Super Contributor

Re: 2nd card after lackluster year with Wells Fargo Secured

You will probably end up getting lucky with Cap1. 

Best of luck Smiley Very Happy 

Message 25 of 49
Valued Member

Re: 2nd card after lackluster year with Wells Fargo Secured

I've got the itch Smiley Happy ...

 

I'm contemplating Amex since Experian is still so squeeky clean. Perhaps just the zync charge card. Do they benifit as a different type of account or the same as a CC?

CS 701, CK 682, Credit.com 719/ TU FICO 666 (DIS 8/12) EU FICO 658 (8/12)
After spree CS 738, CK 684, TU FICO 666 (Dis 8/5)

WF Secured 600Cl (7/11), Discover More 1.5k (8/12), Walmart 150CL(8/12), Cap1 Platinum w/Credit steps($300) (8/12)
Message 26 of 49
Super Contributor

Re: 2nd card after lackluster year with Wells Fargo Secured


Cranski wrote:

I've got the itch Smiley Happy ...

 

I'm contemplating Amex since Experian is still so squeeky clean. Perhaps just the zync charge card. Do they benifit as a different type of account or the same as a CC?


They report the same way as a credit card, however, unless you get the $200 CL or $500 with autopay, (I.E, If you get NPSL) the balances won't count towards your utilizaton. 

 

 


Edit: Bah, that was worded really poorly. They will report the same way as a normal CC(Revolving) However if you get NPSL, the balances won't count towards your utilization. If you get a set limit (I.E $200, or $500 w/ autopay) the balances will count towards utilization. 

 

That's how I've come to understand it at least. 

Message 27 of 49
Valued Member

Re: 2nd card after lackluster year with Wells Fargo Secured

So a charge card can have a limit. While I didn't understand it before I do now that it is a terrible idea. As it always appears maxed out.

 

CS 701, CK 682, Credit.com 719/ TU FICO 666 (DIS 8/12) EU FICO 658 (8/12)
After spree CS 738, CK 684, TU FICO 666 (Dis 8/5)

WF Secured 600Cl (7/11), Discover More 1.5k (8/12), Walmart 150CL(8/12), Cap1 Platinum w/Credit steps($300) (8/12)
Message 28 of 49
Super Contributor

Re: 2nd card after lackluster year with Wells Fargo Secured


Cranski wrote:

So a charge card can have a limit. While I didn't understand it before I do now that it is a terrible idea. As it always appears maxed out.

 


No quite the opposite. Those with lower credit scores, or with "riskier" credit profiles will sometimes be given a fixed limit on their zync (or on other cards after a FR) but if you don't have a fixed limit, your card NEVER appears maxed out, as any money you spend on it is not counted in your utilization.

 

Example: 

 

1 CC with 1000 limit

1 CC with 3000 limit

1 amex NPSL Charge Card

 

you have 4000$ in available credit, however, if you spent all your money on your charge card, and none on your credit cards for one billing statement , your utilization would be zero, even if you spent 3000 on your amex. 

 

It will count in your fico score as one of the cards in the "Amount of Cards That Have a Balance" section, but your utilization % will not be affected by it. 

Message 29 of 49
Valued Member

Re: 2nd card after lackluster year with Wells Fargo Secured

Much better to understand that way. When I get the Walmart TU Fico Smiley Tongue

 

I'm going to do a little more Experian hunting. I realize I only have around 14 days and I don't want ice on EQ, so I'm trying to use the one thats squeeky clean. If only I had a summer house in CA....

 

CS 701, CK 682, Credit.com 719/ TU FICO 666 (DIS 8/12) EU FICO 658 (8/12)
After spree CS 738, CK 684, TU FICO 666 (Dis 8/5)

WF Secured 600Cl (7/11), Discover More 1.5k (8/12), Walmart 150CL(8/12), Cap1 Platinum w/Credit steps($300) (8/12)
Message 30 of 49