Credit Cards

[Daffydatsun]

Trying to get in the 700 club before the end of the year.  One of main barriers is no CC.  How many cards should I apply for?   Which CC company is better?  Should I get a secured or unsecured card?

[haulingthescoreup]

One is all you need. If you're just starting or re-starting, you don't want to load up on a bunch of crap cards that will drive you crazy in 6 or 12 months.

What are your current FICO scores? Is there a reason that you don't currently have any revolving credit? (recovering from bankruptcy, new to the US, never bothered, etc.) I ask because different circumstances would indicate different cards.

[cobra19]

What are your scores now? There is no "better" cc company. Depends on what you are looking for.

If I were just starting, first thing I'd do is open a checking and / or savings account with my local bank. Then, I'd apply to my local credit union.

IMO, a secure card is a last option..

[Daffydatsun]

I am rebuilding my credit.  I had a Capital One card about 9 years ago $1000 limit.  It was charged off - no longer reporting to CRA.   My current scores are TU-680/EQ640

Message Edited by Daffydatsun on 05-08-2009 11:31 AM

[cobra19]

If your EQ score is the range of the other two - apply to a CU.

See if you qualify for NFCU.