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Just getting started rebuilding, and seems like everyone is suggesting a secured credit card as a great step forward. However, I really don't want to get denied for a secured card app. My score is bumping up each month as I get a little distance from my struggles to pay on time. It is at 556 now. Should I go ahead and apply for a secured card now, or should I wait another month or two?
@Anonymous wrote:Just getting started rebuilding, and seems like everyone is suggesting a secured credit card as a great step forward. However, I really don't want to get denied for a secured card app. My score is bumping up each month as I get a little distance from my struggles to pay on time. It is at 556 now. Should I go ahead and apply for a secured card now, or should I wait another month or two?
I would get the secured card and make deposits on it frequently to set you up for bigger CL's in the future.. Make sure you garden the account for at least 6 months to a year to help gain good payment histoy.
Thanks. I have read quite a bit on the forums about different secured cards...any idea of which ones will approve me at my current score?
i believe that is not on the credit score they look more into your income because the secured card will be based on what you deposit in to the card so as higher as you deposit is the higher that you credit line will be i just got a 5000 dollars capitalone secured card and it has bosst my credit more
capital one will aprove you no doubt the require at least 200 dollars sometimes just 49.99 to get you a 200 secured card then its up 2 you if you wanna deposit more money in the account just call them to deposit more and you will have more credit line
You might want to talk to some local CUs. They are often more flexible and user-friendly than banks. They should be able to give you *some* idea before pulling your credit if you could get a secured card with them.
@Anonymous wrote:Thanks. I have read quite a bit on the forums about different secured cards...any idea of which ones will approve me at my current score?
I would give Cap1 a shot. They will pull all 3 bureaus but they are a very good secured card!
Thanks guys...I will apply for the capital one card and see how it goes.
ALRIGHT LET US KNOW HOW IT GOES GOOD LUCK
@Anonymous wrote:Thanks guys...I will apply for the capital one card and see how it goes.
Fingers crossed for you!!