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Valued Member
doppler
Posts: 29
Registered: ‎04-21-2008
0

Should I apply for a new credit card or wait

GEMB just closed my only revolving account 

I was thinking about boa secured until I saw all the good things about alliant.

I really want to get in with alliant but,

I need to wait until the first of next year when a few baddies fall off

and my score increases,right now my eq fico is 638 tu is 657

So my question is should I try and get a new cc maybe orchard or something ?

Would a sub-prime cc help or hurt ?

How would a big cu or bank look upon someone applying, but not already having

any revolving credit

 

 

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Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Should I apply for a new credit card or wait

Go to a local credit union! This is where you need to be right now.

Spare yourself the craziness of secured cards from the national banks. Yes, you might wind up with a secured card from a local CU, but you will be establishing a relationship with a human being who actually wants your credit to improve.

Check your local yellow pages for CU's in your area. Pull a fresh FICO EQ report, print out multiple copies, and go visiting. Show them your report (tell them it's a Beacon 5.0) and ask for an unofficial opinion of what you might qualify for.

Once you find a CU that you're comfortable with, they'll still have to pull a hard inq, but with luck, they'll give you an educated opinion as to whether you would qualify, and therefore whether it's worth the inq.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Valued Member
doppler
Posts: 29
Registered: ‎04-21-2008
0

Re: Should I apply for a new credit card or wait

Where I live we only have 1 cu within a 35-40 mile radius and they are very conservative I have friends and

coworkers no one seems to have cc ..a couple have auto loans, no home loans unless your top teir.

I was a member for years, I left after the office manager insulted me and and practically

called me a liar for trying to deposit a cashiers check..long story short I closed my account

on the spot and took the check to a local bank and opened an account there, but they too are

conservative and their cc are through elan and no one at the bank can tell me about them.

just told to call elan and speak with them,elan says to apply and will see what happens. 

Any info on elan cc ?

Established Contributor
mt2va
Posts: 532
Registered: ‎03-20-2009
0

Re: Should I apply for a new credit card or wait

I don't have the thread handy (maybe someone else will point it out) but there is one listing a lot of CU that are open to just about anyone to join.  So you could join online.  I will tell you from personal experience that I've had a CU give me an auto loan when absolutely no one else would touch me & I also just got my first CC in over 5 years from a CU with a ton of bad stuff on my CR & pretty low scores. 

 

I know there are ways to join several like Penfed and Alliant that can be done by anybody although I've heard Penfed is pretty much for those with impecable credit only & Alliant is probably not far behind but there are other CU.  I researched many before I joined Navy. (but they are only open to military & through them their families so that may not be an option for you??)   I also looked at local CU & was not to happy with what I had to pick from.  With the internet these days it is hardly a bother to deal with a bank/CU that doesn't have a local branch.  I have a savings account & CC with CU & I also have a checking account with a bank in NY & its been just as easy to use as my local BB&T is.  (my main bank)

 

 

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Frequent Contributor
74king
Posts: 403
Registered: ‎04-08-2009
0

Re: Should I apply for a new credit card or wait


doppler wrote:

Where I live we only have 1 cu within a 35-40 mile radius and they are very conservative I have friends and

coworkers no one seems to have cc ..a couple have auto loans, no home loans unless your top teir.

I was a member for years, I left after the office manager insulted me and and practically

called me a liar for trying to deposit a cashiers check..long story short I closed my account

on the spot and took the check to a local bank and opened an account there, but they too are

conservative and their cc are through elan and no one at the bank can tell me about them.

just told to call elan and speak with them,elan says to apply and will see what happens. 

Any info on elan cc ?


Sounds to me like you live in a very unfriendly town..:smileysad:that has a 1 Saloon, 1 Sheriff, 1 Bank, and everyone knows each other by name maybe a Capital One, or a Secured B of A card might do the trick.   I wouldn't go with the worst one's like First Premier, or Orchard bank but some people seem to like them more then others...I think they are fee hog's:smileymad: I wish you luck my friend.:smileywink:

 

King

Equifax 787, TransUnion 793, Experian ? FAKO--> Who Cares
Valued Contributor
Imhotrodcrazy
Posts: 1,557
Registered: ‎03-11-2009
0

Re: Should I apply for a new credit card or wait

I just got started with a local credit union and they are great.  IMO, dont call, go in and see them in person. Tell them what you want to do. This is what I did, believe me, it works.  This way, when you call after that first meeting, they know who you are. In just two months, I got a secured cc and last week I got a small installment loan. I also opend up a savings acct. Soon, I willl be taking my checking acct there.  They treat me good, unlike Chase.   
FICOS
TU 805 12/25/14
EX 806 10/26/14
EQ 829 12/27/14
NASA 30K / / Amex 20k / / Chase Freedom 10.6k / / / / / SD'd US Bank Cash+ 20k, LOC 15k
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