Okay, I made mistakes in college and am in the rebuilding process. I even messed up with Orchard and First Premier and both of those were charged off (and paid in full) and closed. I've had a WaMu, and Cap1, and First Financial Bank, my horrible record with them is still fresh and clear in their minds too. My scores are in my siggy - would my best bet to try to re-establish a positive revolving line be with a secured card?
Message Edited by Helena_313 on 09-24-200807:35 AM
Secured is the way to go to start rebuilding. I have a secured card and it reports to all three CRA's. Since I have only had the card four months now, I still am not qualifying for any unsecured cards. But hopefully once I get a real FICO score it will be good enough to get a few unsecured cards.
Orchard. Their customer service isn't the best, but they report to all three CRA"s and to me that was a deciding factor. They also report as a credit card, not a "secured" credit card on the reports. (Some banks report a secured credit card as a "secured credit card" on the reports.)
laz98 wrote: how does it look to creditors to have "secured" on your report?
a bit risky, i'd imagine...
but there are many other things they'll look at that may weigh more heavily, on it's own prolly not a deal breaker, but it depends... also, if the card 'graduates', this notation is likely updated to reflect 'cc' instead of 'secured cc'
FICOS: 06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (WALMART)
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