Credit Card Center Advertiser Disclosure†
08-30-2012 12:28 PM
I posted this in the "rebuilding forum" and was told to try over here. So forgive me for my copy/paste. ..
Right now I'm at a 590 EQ FICO, not sure on TU will pull that in a few months. EQ will raise within the next few months as I pay off the last collection next month. I have no open credit unless you count student loans. No credit cards, personal loans etc. I have no inquiries on my EQ either.
I plan on buying a home in about 2 years. Possibly 18mos if I find a good deal.
i would like to get a credit card in a few months that will grow CL wise over the next few years and wonder if Sears, Home Depot or Lowe's store cards are something I'll be able to get with low 600 scores? Or even worth getting at all?
Are one of them better than the others?
08-30-2012 12:44 PM
You may get a Sears MasterCard now but it has a high AF for what you get usually 300-500 CL and they are now backed by capitalone so not known for CLI's. Just put getting a HomeDepot or Lowes card on the back burner when you are over 650 or probably after you purchase your house, AP for the Home Depot card, they will most likely give you a low limit, call the number they give you on the same screen as your CL, and request a larger limit, they are very gracious with CLI's even before you have the card, I requested 4000 and it was granted 5 minutes later, no need to grow the HomeDepot card over time, they will grow on the sport some here have requested 25k CL and it was granted 30 minutes later.
08-30-2012 01:31 PM
You may get a Sears MasterCard now but it has a high AF for what you get usually 300-500 CL and they are now backed by capitalone so not known for CLI's. .....
This is wrong. CITI backs the Sears (MC and Store). CITI also backs the Home Depot. There are no AF.
I suggest you try for store card versions, as they are generally easier to get that cobranded ones.
08-30-2012 01:46 PM - edited 08-30-2012 01:50 PM
There are multiple Sears credit card the top teir Sears cards are backed by citi, and would not touch a 597 FICO, where as the lower teir card backed by HSBC now purchased by CapOne and are willing to approve low fico scores perhaps even a 597 but come with an AF and a low limit that won't grow.
08-30-2012 02:03 PM
I don't think I'd get a card backed by HSBC, I have a charge off from2006 and 2008 on 2 cards from them. The original TL from HSBC shows on my CR but nothing from the CA's..they dropped a few months ago for some reason?
08-30-2012 02:26 PM
I would try for the Walmart card backed by GECRB. They approve low scores and the credit line will definitely grow. I know the OP did not mention Walmart in the original post but they do carry alot of similar items as the stores listed.
08-30-2012 02:27 PM
And you get a free TU Fico score every month.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.