OpenSky Secure Card

Anonymous · ‎07-07-2014

I have my AF of $50 to OpenSky CC coming up this 14th, July 2014. Their fee at account opening was only $29. I have had this paid up for the limit of $250.

The issue i have is, to do a increase in credit limit requires docs from me. I dont want to provide it.

I have had this secure card reporting for a year now. If i take it off now I will have no revolving accounts.

Starting up a new Secure Account would mean higher limits and new revolving account reporting.

The secure card with OpenSky is the only revolving account with a years history. Do i lose AAoA by closing this?

I have KOHL's only reporting for a month now.

What should i do? pay the annual fee or start another secure card?

Shogun · ‎07-07-2014

I'd go for a different secured card. Have you tried State Dept. FCU? Might be a better route for you.

Starting Score: 504
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.

Anonymous · ‎07-07-2014

isnt State credit Union require ChexSystems? i m not clean on ChexSystems

Shogun · ‎07-07-2014

@Anonymous wrote:
isnt State credit Union require ChexSystems? i m not clean on ChexSystems

Yes, you're probably right.

Starting Score: 504
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.

Anonymous · ‎07-07-2014

well I guess instead of closing OpenSky, its always a good idea to add non-Chex Systems bank Secure cards like merrick bank, first progress or sign up with CreditOne n get $300 unsecured with $175 Annual fee.

anyone else know of Non-Chex Systems secure card applications. let me know

Jerry45 · ‎07-09-2014

First Progress does not require a Hard Pull to be approved, but has a AF, and takes a month to first report to CR's, but once they do, they are good about reporting to all Cr's monthly on time.

You have a TL for one year, and unsecured credit with Kohl's. Have you checked your FICO score? Apply at Walmart, Cap One, or barclays. You do not need another secured card at this point. My Two cents, good luck

Anonymous · ‎07-09-2014

Yes the OpenSky TL has been there for nearly a year now, have on time payments & as of July 07, 2014 CreditSesame score is 669 but myfico.com site score on June 30 was 611 (before OpenSky card balance was near max; but now zero). That is the enhanced FICO bankScore. I m saving EQ & TU (on Ice) and only using EX for now.
With just two tradelines, my temptation got the better of me & i caved into applying today (7/9/2014). If i didnt apply how would i know what works? Have lost patience. What could i have done different other than wait & wait and not know if i will qualify for a unsecure credit card. Most inquiries on EQ gets deleted after Dec 2014, on TU other than Walmart inquiry (May 2014) i have inquiries getting deleted on Nov 2014. EX has two Bank of america inquires from Oct 2012. deletion around Oct 2014.

I guess my desperation shows.

I just applied to First National Bank of Omaha Platinum Ed visa card and was informed it will be 4-6 weeks before the decision? I dont know what to make of it or does anyone have FNBO underwriting/backdoor/direct#. FNBO also has a Secure Card if i fail at this i m thinking of applying as well. Gives you free EX FICO 08 enhanced score with $19 AF.

I did apply for Walmart in may and they seem to have an internal scoring system as of May 2014 (a GECRB) and it was so low i was actually ashamed to have lost one HP

I also seems to agree with you on not needing any more Secure Cards, however, Target, Cap1, Barclays, Chase, GECRB cards are not exactly Experian friendly. .

Experian friendly CC;s are

Bank of America

Amex

First National Bank of Omaha

Once i know my FICO 08 enhanced score with FNBO, i m tempted to apply for Amex (Blue Cash Everyday) & Bank of America. (Better Balance Rewards). I suppose high 600's to early 700's range for EX should help qualify.

Anonymous · ‎07-09-2014

so found their number using backdoor on Ex.I applied just about half an hour ago & it reported already on Experian where a 800 # was available.

Confirmed it checked Experian

ezdriver · ‎07-09-2014

@Jerry45 wrote:
First Progress does not require a Hard Pull to be approved, but has a AF, and takes a month to first report to CR's, but once they do, they are good about reporting to all Cr's monthly on time.

You have a TL for one year, and unsecured credit with Kohl's. Have you checked your FICO score? Apply at Walmart, Cap One, or barclays. You do not need another secured card at this point. My Two cents, good luck

I also recommend First Progress. I got two cards [$300 each] with one online app and they've been reporting for a year now. Once I close on my new home purchase in the next week or so, I will drop them as they thave served their purpose.

Anonymous · ‎07-10-2014

Progress was a secure card or unsecured?

I have another year maybe to go with it becoz if i end up paying its fee this July 14, 2014, then i have to carry it thru July 13, 2015.

The idea was AaOa which only started from July 2013, my first ever revolving account.