Absolutely zero credit

[recoverysauce]

Have you tried Fingerhut fresh start credit? That is how I got the ball rolling when no one would give me a secured card and I mean no one. get that going if you can and in 90 days of payments you'll be able to get secured card easy.

[Anonymous]

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@recoverysauce wrote:

Have you tried Fingerhut fresh start credit? That is how I got the ball rolling when no one would give me a secured card and I mean no one. get that going if you can and in 90 days of payments you'll be able to get secured card easy.

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Erhhh wrong answer. Credit Union wins Fingerhut is trash and should be reserved for those who have serious deliquencies and bankruptcies reporting.... 

[Anonymous]

UPDATE! Ok soooo today I went and joined Delta Community credit union. They were great. Got a checking and savings but then they asked if I planned for any loans in the next year. I told him about the SSL that I wanted to apply for next week and he asked why so I explained about my credit situation. He listened then asked if he could make a phone call to which I didnt object. He called a lending manager on speaker and told him that I was looking to build credit and if he could pull up the same credit profile they pulled to make the account. The manager was able to and then offered me a $500 unsecured credit card (pending full approval). I told him that I didn't want to apply because I didn't want the HP and I was more comfortable with my plan. He said with my thin credit profile, he was 90% sure he get me a card as long as I make over $30k (which I do) so after thinking about it I told him to go ahead with the application and voila, I'm approved for a $500 card with 0% APR for 12 months then 13.4% after! 

Now I have one question, should I still do the SSL?

Thank you guys for all of your help, I would still be swimming in the ocean of the unknown if it weren't for you guys!

[Anonymous]

I don't really understand the point of secured credit cards other than giving people your money for no reason,. I got approved by Capital One Platinum and Kohls despite having terrible credit. You might want to try them next. 

[Anonymous]

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@Anonymous wrote:

UPDATE! Ok soooo today I went and joined Delta Community credit union. They were great. Got a checking and savings but then they asked if I planned for any loans in the next year. I told him about the SSL that I wanted to apply for next week and he asked why so I explained about my credit situation. He listened then asked if he could make a phone call to which I didnt object. He called a lending manager on speaker and told him that I was looking to build credit and if he could pull up the same credit profile they pulled to make the account. The manager was able to and then offered me a $500 unsecured credit card (pending full approval). I told him that I didn't want to apply because I didn't want the HP and I was more comfortable with my plan. He said with my thin credit profile, he was 90% sure he get me a card as long as I make over $30k (which I do) so after thinking about it I told him to go ahead with the application and voila, I'm approved for a $500 card with 0% APR for 12 months then 13.4% after! 

Now I have one question, should I still do the SSL?

Thank you guys for all of your help, I would still be swimming in the ocean of the unknown if it weren't for you guys!

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Congrats Lessthannothing, great decision sounds like a good starter card and a credit union relationship will only grow. I reccomend reading into the intracacies of the FICO scoring, getting SSL along with a Credit Card will help your score astronomically! It will be better to have both reporting vs. just the regular SSL, there are numerous threads click on the "Understanding Fico Scoring Methods" but moving forwards I would wait for your new credit card to report for for at least 3 months before applying for a new credit card due to your score being at -0- but see if Delta will let you set of up SSL now too! Best of luck. 

PS. There are a lot of people on here there do mean the best and try to help but really do not make educated reccomendations IMO... you should not be paying anyone to set a secured right now in a few short months your score will improve greatly have patience and hang in there. Secured cards are for people with bankruptcies/late payments/collections etc, which you only have positive things from this point forward! 

[Anonymous]

Now it's time for some gardening (after the SSL)!

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

UPDATE! Ok soooo today I went and joined Delta Community credit union. They were great. Got a checking and savings but then they asked if I planned for any loans in the next year. I told him about the SSL that I wanted to apply for next week and he asked why so I explained about my credit situation. He listened then asked if he could make a phone call to which I didnt object. He called a lending manager on speaker and told him that I was looking to build credit and if he could pull up the same credit profile they pulled to make the account. The manager was able to and then offered me a $500 unsecured credit card (pending full approval). I told him that I didn't want to apply because I didn't want the HP and I was more comfortable with my plan. He said with my thin credit profile, he was 90% sure he get me a card as long as I make over $30k (which I do) so after thinking about it I told him to go ahead with the application and voila, I'm approved for a $500 card with 0% APR for 12 months then 13.4% after! 

Now I have one question, should I still do the SSL?

Thank you guys for all of your help, I would still be swimming in the ocean of the unknown if it weren't for you guys!

---

Congrats Lessthannothing, great decision sounds like a good starter card and a credit union relationship will only grow. I reccomend reading into the intracacies of the FICO scoring, getting SSL along with a Credit Card will help your score astronomically! It will be better to have both reporting vs. just the regular SSL, there are numerous threads click on the "Understanding Fico Scoring Methods" but moving forwards I would wait for your new credit card to report for for at least 3 months before applying for a new credit card due to your score being at -0- but see if Delta will let you set of up SSL now too! Best of luck. 

PS. There are a lot of people on here there do mean the best and try to help but really do not make educated reccomendations IMO... you should not be paying anyone to set a secured right now in a few short months your score will improve greatly have patience and hang in there. Secured cards are for people with bankruptcies/late payments/collections etc, which you only have positive things from this point forward! 

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I absolutely do need to understand FICO more, thanks for the tip. I'll look into it. Now that I have the unsecured credit card and will be getting the SSL next week and thats it for a while for me. I haven't had the need for a bunch of cards and I'm 25 so I don't see the need to start getting a bunch more later. 

Also, thanks for the advice TYDAWG. I understand people are trying to help by voicing their opinion and sometimes that can be different from an educated fact. Most times I'm able to tell the difference. 

THANKS AGAIN GUYS. You all are completely awesome but a special thanks to Gemini and Tydawg!

[Anonymous]

1) You're more than welcome 😇

2) Congratulations on your unsecured approval📣

3) I just wanted to clarify that, IMO secured accounts are not ONLY for ppl with baddies...
New to credit, new to the country and ppl managing HPs all can benefit from using secured accounts to their advantage, not just for rebuilder sometimes just builders from scratch.

4) @Lessthan
If you were my client and I'm correct in that your new CU CC and the upcoming SSL will be your only credit accounts.
My only other move would be to Gemini effect the SSL meaning since you're gonna 'pay back' the SSL anyway I'd still use those funds to double up and add a 2nd revolver to age while the other two accounts age.
The scoring model craves multiple revolvers anyway and especially sense you don't "want" to use credit too much right now anyway ( which IMO is the BEST time to grow, because you aren't in the garden EATING, during growth time) this is exactly the same Convo I had when I had to push my daughter for the 2nd CC
She's like Dad do I NEED a 2nd one? And I said yes, sweetheart, this is exactly when Daddy wants you to get it, when you aren't thristy for it
That way it can grow and age w/o you messing with it too much because you aren't concerned with HAVING it.
And having the aged thickness will be of value later, so for me it's why not ..Plant the seed well before you'll need it because all things being equal and knowing that it will be necessary at some point...
Why not set it up for the nice fat juicy fruit to sprout for picking later JMO

* Again, I'd use say $500 for the SSL then take the proceeds of the SSL to fund at least 1 additional revolving accounts, them make the SSL loan payment 'though' the CC
Thus creating usage on the revolver and getting one-time payment love for both my install and revolving accounts at the same time.
After 6-9 months of that behavior reporting to the RISK model, your ticket is punched!

Now, allow time/aging to work in your favor and never look back, by next year you enter a class of credit profile, such that by the time you get closer to 30 (you said you're 25 right?) You'll be THRILLED and not understand what happened and why peers don't have the same credit juice you have.

My daughter can't really have a CLUE how valuable,the direction she's getting now as a teenager will be by the time she WAKES up at 22-23 or so wanting to get a house or whatever having the monster profile she'll have vs just going to college not manipulating that TIME in her favor with a profile growing in the background.

Whatever you decide, don't go a full year with just the one CC the scoring model prefers generally 3/1 that's 3 revolvers and 1 installer (2/1 won't kill you cause you can add it later but IMO ...If you're going to fund a SSL it only makes sense to Gemini it or double up on the use of the funds you're trying up anyway)

Again Congratulations

Best of Luck 🎶

[Anonymous]

OK! Just to be sure, youre recommending 3 CC and 1SSL basically?

BTW, your daughter is lucky to have a parent who cares AND knows about credit. My parent are great in one area but lacking knowledge in the other haha.

[EAJuggalo]

For optimum scoring it is 3 revolving lines of credit and one installment.  So 3 cc's are the easiest way to get those, for the installment lots of things will work:  Fingerhut, SSL, Auto Loans, Mortgage.  If you have a car loan in your name you don't need the SSL.