Secured Card Qualification

[ALHondaGuy]

Hi guys,

I need some advice.  Here's where I stand

7/21 Lender Pull

EX 624 TU 592 EQ 551

8/4 MyFICO

EX ??? TU 614 EQ 562

Applied for and got turned down for BoA's Secured Card. I have CO's with both HSBC and CapOne, so I don't think they're options at this point. I have no open revolving credit and I need to get the ball rolling again. Where do I need to go to get started again?

If you need more info, just ask. I'm an open book.

[Anonymous]

Cap1 might accept you. If this were last year, I would recommend public savings bank as previous terms are great for rebuilders. And they don't hard pull your credit report. Right now they charge for almost everything, paper statement,AF,interest start from when you purchase, etc..  

[kjm79]

My DH has current CO's with HSBC and Barclays with scores similiar to yours.  But he was just approved for a Cap1 rewards cards (they supplied his 545 EQ score with the account disclosures), small $500 limit, but it was unsecured.  You might be able to at least get there secured card.  Otherwise I'd suggest whoever you bank with.  Cap1 might be more willing to work with you if you could pay off the CO (maybe then you could get an unsecured card???) 

[ALHondaGuy]

I can pay off the CO (800ish), but it's really old and due to fall off my CR in Nov...

[kjm79]

It may fall off your CR in Nov but Cap1 will still have that record.  You could wait it out and apply for a secured card somewhere else and might have better luck with it off your CR.  Try the prequal on Cap1's website and see if anything comes up for you, might get lucky.

[ALHondaGuy]

Well, who'da thunk it. CapOne''s computer approved me for a basic CC w/ a 300 CL unsecured.

[kjm79]

Wooohooooo!  Well there you go.  Now just let the old Cap1 fall off in Nov.  lol