Which credit card is right for me? (595 credit score)

[bloodydingo]

I'll try to explain the background ASAP - years ago when I was younger I signed up for a card in my name for my brother, and gave him a second card on the account. He was going through a divorce, recently lost his own business because of said divorce, and was hoping to win his wife back. Long story short, he took it, maxed it out ($2k), didn't tell me he wasn't making the payments, and then has refused over the years to pay me back. I know I'm at fault since I didn't keep up with it, I only found out about it when I tried to use it for the first time to get gas only to get declined (he maxed it out in a single week at the beach), but I was 21 at the time, trying to help out my brother, thinking he was someone I could trust...oh well.

Ok, to the here and now, I just got my credit score and it's sitting at 595, and I need to start improving that score. I recently started getting serious with someone, and I want to rebuild my credit for my future, and start thinking of myself instead of everyone else for a change.

I've tried to apply for a card here and there, but am always declined.

What sort of card could I get with a score of 595? I have a job of two years, I am careful with my own money, I always pay everything on time, blah blah blah. I just need to find a card to accept me so I can start building my score back up to make up for the damage my brother did to me.

The only thing I am currently involved in is my truck payment through GMAC, which is around $190/month, and haven't missed a payment at all in two years.

What would be the best card for me to go for? I don't need it for anything specific, although it would be nice to have for an emergency. The main thing I'd likely do with is is use it for the various normal "this and that" purchases that I already make, only to put it on a card and pay in full every month.

Is it even possible to get one without paying monthly, annual, or application fees?

Thanks a lot guys.

Message Edited by bloodydingo on 02-16-2009 12:51 PM

[score_building]

Welcome to the forums!

unfortunately the cards available to candidates with scores under 600 are for the most part the ones with fees all over the place and low cl's that never grow.

a good first step would be to obtain copies of all your credit reports and examine them to determine if you can PFD, GW, dispute etc. anything negative off of them to improve your scores and your chances of obtaining a card that is worth your time. 

you may want to check out your banking institution or local CU to see if you're eligible for their secured cc and build from that.  boa also has an excellent secured cc but still you should try to get your scores up a bit more before applying for it if at all possible.

[Anonymous]

how old is that old card that went bad? I would try for a bofa secured card, after a year it should unsecure and your score should improve A LOT if you only have the one negative account. BofA secured has only $29 annual fee and requires $300 deposit minimum(which you can add too to increase limit)

[oracles]

Definitely work on cleaning up your report and applying for the bofa secured card.

These 2 things will improve your score

[Anonymous]

The absolute best way is to get a secured card with your bank or credit union. I believe credit union have the best rates and they do report to the big 3. Just double check with yours (if you are a member of one).  Best of luck!