Open Sky Secured Visa / Secured Loan Question

[Anonymous]

Hi everyone - I am working on rebuilding my credit after years of neglect.  My husband has very good credit, but mine has suffered from several years of sporatic late payments and two medical collections which I am currently working on having removed.  I have recently opened two capital one CCs (unsecured) and am thinking of opening an Open Sky Secured Visa to avoid any more hard pulls.  I would also like to open a savings account with SDFCU and apply for a secured loan.  

I have two questions:

1) How do low credit limits (like the one with Open Sky Secured Visa) affect my credit score?  Will it hurt more than help?  My Capital One credit limits are $750 and $500 (only open for two months)

2) I am a stay at home mom and my husband has the income.  Will I be approved for a SDFCU account and loan without an income?  I would to be the only one on the account.

Thanks for your time.

[gdale6]

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@Anonymous wrote:

Hi everyone - I am working on rebuilding my credit after years of neglect.  My husband has very good credit, but mine has suffered from several years of sporatic late payments and two medical collections which I am currently working on having removed.  I have recently opened two capital one CCs (unsecured) and am thinking of opening an Open Sky Secured Visa to avoid any more hard pulls.  I would also like to open a savings account with SDFCU and apply for a secured loan.  

I have two questions:

1) How do low credit limits (like the one with Open Sky Secured Visa) affect my credit score?  Will it hurt more than help?  My Capital One credit limits are $750 and $500 (only open for two months) The limit doesnt affect the score what does is how much of the available limit you are using. You want to let no more than 30% of a cards limit report to a CRA and if your looking to maximize Fico you only want 1 card reporting no more than 9% of its individual CL and all other revolvers at 0. For someone beginning a rebuild I would not worry about the low limits.

2) I am a stay at home mom and my husband has the income.  Will I be approved for a SDFCU account and loan without an income?  I would to be the only one on the account.   I have no idea, you may be able to use HHI , would need to talk to them if its limited to individual income on the app.

Thanks for your time.

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[Anonymous]

If you want to get another card and avoid hard pulls you may want to check into Sportman's Guide Visa Card by Comenity which is a Visa card that can be used anywhere.

The way to get it is via Shopping Cart Trick you can google or use the search on this site to learn about the shopping cart trick.

Go to Sportman's Guide website, put something in your cart and go to checkout, add membership subscription and enter your information. Before or at the page where you are to enter payment information, a pop up may appear asking you to apply for the visa card. There should be no hard inquiry.

Tips: make sure your popup blocker is turned off on your computer, make sure that you add the membership subscription to the cart, you do not have to follow through with your puchase of items or membership if you do not want to, you can get the approval and close the page.

[Anonymous]

Sportsman guide is a hard pull. Don't apply for that. Open sky is a great rebuilding card. 

[Anonymous]

Thanks for your help. I applied for the Open Sky card and it is scheduled to be funded later this week. I am planning on calling SDFCU tomorrow and will post my results with the account.

[Anonymous]

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@Italiannyc17 wrote:

Sportsman guide is a hard pull. Don't apply for that. Open sky is a great rebuilding card. 

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Did you get a hard pull for this card? I have read a lot of argument about whether they do hard or soft pulls, so I am not sure if it is different for different people or just a lot of confusion. I applied for one a week or so ago, never got a hard pull and from what I have read many other people got the card without a hard pull. I will try to remember to post back once I get the card and activate and let you know if they do a hard pull then.

[Anonymous]

I never seem to have that offer pop up while doing the "shopping cart trick". I'm wondering if it could possibly be because I'm doing it on my smartphone in Android Chrome and not on a PC. Anyone else been able to do the "shopping cart trick" on an Android smartphone ???

[Anonymous]

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@Anonymous wrote:

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@Italiannyc17 wrote:

Sportsman guide is a hard pull. Don't apply for that. Open sky is a great rebuilding card. 

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Did you get a hard pull for this card? I have read a lot of argument about whether they do hard or soft pulls, so I am not sure if it is different for different people or just a lot of confusion. I applied for one a week or so ago, never got a hard pull and from what I have read many other people got the card without a hard pull. I will try to remember to post back once I get the card and activate and let you know if they do a hard pull then.

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Just an update, I recieved and activated the Sportman's Guide card and there was NOT a hard pull.