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What real credit card can I get?

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OmarGB9
Community Leader
Super Contributor

Re: What real credit card can I get?

Yea...all the cards he listed require considerably higher scores to obtain.

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 11 of 18
Callandra
Valued Contributor

Re: What real credit card can I get?


@Anonymous wrote:
If you cannot afford to pay your charge offs (seeing as they are still somewhat fresh), perhaps you should reassess your credit needs. Even if your goal was attainable, would it actually, honestly benefit you?

+1 Unpaid charge-offs tend to scare off creditors so it might be best to look into settling or paying off your charge-offs before seeking more credit. Hit the rebuilding forum for some support and advice. Smiley Happy Good luck! 

Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500

Last HP: 9/27/2015
Message 12 of 18
Anonymous
Not applicable

Re: What real credit card can I get?

I know the goal of the forum is to be friendly, supportive, and respectful. With that said, I have not hesitated to cross that line with people in the past, I tell it like it is. However, I hope you can take this criticism in a positive way, because I genuinely don't intend for this post to be nasty.

I believe you should reassess your credit needs. From the sound of your post, you have a problem with spending more than you can afford to pay. I believe that the creditors are making a proper decision to limit your TLs to $500, both for you and for them.

Credit is intended to be used and paid back in a reasonable timeframe. Obviously the best case for a consumer is to make a purchase and PIF. However from a creditors perspective, they would love for you to make a purchase - say a new laptop - and pay it off plus interest over the course of 6 months - a year. The reason that I believe you are struggling with your credit is because you make a purchase for things you can't afford without a solid plan to pay it off, and this is disasterous to your credit and not the intended use of a credit card.

Once again, I apologize if I'm overstepping my bounds here. I understand that life happens. However following your chargeoffs (which may or may not have been a "life happens" scenario), you find yourself in more credit card debt.

I understand the want for an airline credit card, however if you are carrying a balance in the thousands of dollars, your 22.99% APR will very quickly outweigh all of the benefits of an airline card.

With $1500 in credit card debt, if you were approved for a an airline card today, would you be able to resist the temptation to book a trip using your shiny new plastic, thus further getting yourself into debt?

My suggestion is not a quick solution, however it will help prepare you for higher credit lines if and when they do come. Create a budget for yourself. First, pay off your existing debt. Next, work on paying off your chargeoffs, whether you are able to PFD or not, they are your debt and at one point you agreed to pay them.

At that point, you will be at $0 revolving debt. Make an attempt to maintain that $0 debt for 6 months to a year while using your cards for everyday purposes. This will help build the habits necessary to manage much larger trade lines. If you are unable to maintain this with lower limit cards, in my humble opinion you should reconsider your use of credit cards.
Message 13 of 18
Anonymous
Not applicable

Re: What real credit card can I get?

Honestly your cap1 QS is a great card. If were you I would concentrate on growing that, paying off the old debts, and gardening. You can keep pushing the limits on that card as your score improves and eventually get the no fee version if that isn't what you have.

When you get your score into the 700s you will be able to go for better cards but until then I think anything you will get will be a step down.

My general response to anyone is don't apply for new credit until you have your existing credit under control, meaning paid in full monthly, living within your means. It is easy to say, hard to do, and the risk of adding credit before you have really done it is real, and life wrecking.









Message 14 of 18
ScottL
New Contributor

Re: What real credit card can I get?

Thanks for all the suggestions.

 

 For the record, I was not intending on applying for anything right away.  I wanted to wait until I have $0 balance on my credit cards.  The only reason I even have them charged up is because of a few unexpected expenses lately. They will all be paid off in the next month or two.

 

Believe it or not, I do not live on credit anymore. I have learned alot since I was a teenager blowing money I didnt have, then going through a divorce and letting things go unpaid has hurt me for a long time now.  I do not want that ever again.  Ultimately, i want a 700 score so that when I go get a car or a house, I can always be approved with a good rate. And if i want to ever finance something else, i never have to worry about being approved.  I do want a high limit airline credit card that I can use for everyday purchases, then pay it off each moth with the money that would have been used.. rack up airline miles for free flights.  at least that is my goal.  

 

Just yesterday, I went to my bank and opened up a separate checking/debit card account. I changed my direct deposit from my work to have a certain amount of money go to that account. The remaineder of my check goes into my old account where all my bills are automatically withdrawn. As long as I dont dip into this account for extras and stick to using my allocated amount from my new account, I should have an extra $1000-$1500 a month in that account... then I can pay off debt, chargeoff and collections over the next year. 

 

Starting Score: 498 (Jan 2013)
Current FICO 8: 687 EQ, 683 TU, 700 EX
Goal Score: 680
Message 15 of 18
Anonymous
Not applicable

Re: What real credit card can I get?


@ScottL wrote:

Thanks for all the suggestions.

 

 For the record, I was not intending on applying for anything right away.  I wanted to wait until I have $0 balance on my credit cards.  The only reason I even have them charged up is because of a few unexpected expenses lately. They will all be paid off in the next month or two.

 

Believe it or not, I do not live on credit anymore. I have learned alot since I was a teenager blowing money I didnt have, then going through a divorce and letting things go unpaid has hurt me for a long time now.  I do not want that ever again.  Ultimately, i want a 700 score so that when I go get a car or a house, I can always be approved with a good rate. And if i want to ever finance something else, i never have to worry about being approved.  I do want a high limit airline credit card that I can use for everyday purchases, then pay it off each moth with the money that would have been used.. rack up airline miles for free flights.  at least that is my goal.  

 

Just yesterday, I went to my bank and opened up a separate checking/debit card account. I changed my direct deposit from my work to have a certain amount of money go to that account. The remaineder of my check goes into my old account where all my bills are automatically withdrawn. As long as I dont dip into this account for extras and stick to using my allocated amount from my new account, I should have an extra $1000-$1500 a month in that account... then I can pay off debt, chargeoff and collections over the next year. 

 


This is my goal also.  For the past year I've been learning how to budget and living by PIF.

Message 16 of 18
Broke_Triathlete
Valued Contributor

Re: What real credit card can I get?

There are a lot of great posts in this thread! I will say that I personally had luck with Barclay Rewards. 2 years post CH7 and a 602 FICO (score they gave me) I received a 1,300 CL. I'd definitely echo others posts about getting utilization down a bit before applying. Good luck!

Personal:

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Message 17 of 18
Anonymous
Not applicable

Re: What real credit card can I get?

I have have to chargeoff still on my report theyre with Citibank.

Bofa will say no even with 800.
Us bank same.
Citibank I burned, but they are that way.

Barclays, chase, capital one, comenity and synchrony will be your friends until your goodwill letters work.

If you have a bankruptcy, its better than a charge off. I regret my plans of action in the past. I should have filed.
Message 18 of 18
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