Credit Cards

[angelzrfree]

Hello myFico forum,

First of all I want to say thank you in advance for any suggestions and for taking time to help me to out. I'm a 20 year old college student and I am trying to get my credit on track. I am trying to get a new credit card but, as you all know, it's not easy. Any advice would be greatly appreciated. My Fico score with Equifax is a 630. I'm a full-time college student, I have a full-time job at the local hospital and I make decent money for someone my age. At this point I am not too picky about the corporation that I do business with, as long as it's not BOA or Citi. I applied at BOA in January and they said no (I have a past delinquency with them and that's why my CS is low). I applied at Citi around the same time and I have come to believe that they are the devil and would never, not even upon threat of death, attempt to business with them. So where should I go from here? Where should I apply? Should I forget about CCs altogether and apply for store credit?

Again, Thanks in advance for any replies.

Message Edited by angelzrfree on 04-02-2009 01:07 PM

[txjohn]

Credit Unions are a good place to establish yourself and begin building a relationship that will see you as a person more so.

[angelzrfree]

Would it be best if I opened a checking or savings account with them and then applied? Thanks for the suggestion.

[Woolfman]

Alot of people have been having decent luck with alliant CU lately . (myself being one )You get preapproved offers with alliant(if they think you qualify)  when you open a Savings and/or checking account with them

There is always HSBC or orchard bank cards you could try the are good starter cards. 

[txjohn]

You have to open at least a share (savings) account in order to become a "member."  Most Credit Unions have membership qualifications, but can easily be met.

Once you are a member, you can then begin saving money in the savings account.  You can request a secured card or secured loan against your savings.  After you have a little savings and payment history with them, you can request unsecure credit and other loans.

CU's work with you as a person, generally better than a big bank.

Alliant CU is a good one.  When you join (open share account) they will pull your EQ file and if you qualify will automatically offer you certain credit products such as visa, etc.

If you don't qualify automatically, you can speak with a LO and discuss your circumstances and goals.  They will help you determine what they need to see from you and what you can do to improve your chances.

Message Edited by txjohn on 04-02-2009 01:22 PM

[angelzrfree]

Ok thanks. My school has it's own credit union so I think I will try with them.

Message Edited by angelzrfree on 04-03-2009 05:20 AM

[score_building]

that is a great idea, i wish i had got started w/ a school linked cu when i was your age, good going!

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angelzrfree wrote:
Ok thanks. My school has it's own credit union so I think I will try with them.

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[keithc]

angelzrfree, i am sorry that citi couldnt help!! i went on an app benge and got a citi w/cl of 1200 and 0% bal. transfers!! my EQ in march was 650!! do not get 1st premier!! too many fees!! good luck!!