06-06-2013 10:05 AM
06-06-2013 12:37 PM
06-06-2013 01:31 PM
IMHO wait until a month after CO falls off and try again after CR updates
06-06-2013 02:53 PM - edited 06-06-2013 02:54 PM
My advice seems to go against what others are voicing, but I suggest he apply for the Bank of America 123 card (after the collections have fallen off!).
If he doesn't qualify at that time, BOA may likely counter with a 99/500 partially secured card (you pay $99 collateral, BOA gives you $500 CL). Use this wisely and BOA will gradutate it to an unsecured card after about 12 months of great history--he'll have an unsecured card and help his score bounce back, too.
I apped the 123 card in April 2013 with a FICO of 586 (and some baddies showing); denied, but received the 99/500 invitation. Got Walmart approved on June 4th, 500 CL.
Read my siggy, you'll see my credit journey so far.
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.
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.