Secured Credit Card Advice

[2010]

This is my very first post so apologies if my questions are repetitive.  I'm currently trying to rebuild my credit and have 2 CO on my report.  One I am paying and the other I may go through the process of getting vacated (it's from 2009 and I have no idea what it's about). I don't have any revolving credit and haven't since 2008.  According to myFico score stimulator, I should open a credit card since my payment history is very good (auto loan, paid on time).  Can you recommend the best secured card? I don't think I can get a regular cc with my current score.

Also, how many cards should I apply for at once? And at the same time? Is it 2 or 3?

Thanks in advance.

[gdale6]

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@2010 wrote:

This is my very first post so apologies if my questions are repetitive.  I'm currently trying to rebuild my credit and have 2 CO on my report.  One I am paying and the other I may go through the process of getting vacated (it's from 2009 and I have no idea what it's about). I don't have any revolving credit and haven't since 2008.  According to myFico score stimulator, I should open a credit card since my payment history is very good (auto loan, paid on time).  Can you recommend the best secured card? I don't think I can get a regular cc with my current score.

Thanks in advance.

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SDFCU, open the savings and put enough in to fund your secured card as well, then app for it online its a SP instead of a HP. BoA is another good one this one even graduates. You might hit up Cap-1 for a credit rebuilder unsecured credit steps card I believe your scores are good enough to get it just be advised its a 3 bureau pull plus Innovis, and ARS.

[2010]

Thanks for responding so quickly.

Now, I'm off to find the acronyms thread so I can follow your advice. Lol  

ETA: Are you referring to the Cap1 Quicksilver card? 

[gdale6]

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@2010 wrote:

Thanks for responding so quickly.

Now, I'm off to find the acronyms thread so I can follow your advice. Lol  

ETA: Are you referring to the Cap1 Quicksilver card? 

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The QS1 card

[RobertEG]

Before applying for any new credit, I would suggest taking a few months to clean up as much info on your CR as possible, and thus increasing your chances of approval.

Have the two accounts that have been charged-off been reported for collection?  Are you paying a debt collector?  Have you tired a PFD?

For the account that is questionable, do you assert that you never autrorixed the account?

[2010]

Aside from the two CO, my report is "clean."   Two closed accounts in good standing. One car loan paid in full. Current car loan paid on time.

Judgements for default were entered against me with regard to the two CO.  Sorry I wasn't clear in my initial post. I am currently paying one off (went to Court) and had it lowered when I should have disputed it and made them prove it.  The other one, I don't know what it's for and would have to get the court papers. It is possible that it was an old debt, however, it's likely over 7years since my last delinquency and CO.  I would have to get it vacated in order for it to be removed.

I've never done a PFD on either.

[Dj4Money]

 After reading these forums and Beverly Herzog's Blog -

 1) Capital One Plat Secured Card. Denied at first because I lacked a checking/savings account. I picked one up and called them back about a month later, was approved for $200 for $99. 

 The INQ appears on my TU, not sure if it appears on my Experian yet.

 2) SDFCU Secured Card. I applied for the card first, then deposited the money

 These are my Top Two recommendations unless your in the military than you can get those secure cards. SDFCU has no annual fee and 6.99% on carried balances, EMV chip, No Foreign Transaction fees for travelers for which I am.

 Cap One has $29 annual fee, but I likely will  only have this card for one year anyway.

 Good Luck and keep us posted.

[huck1081]

I would also suggest a local bank or credit union, if you have to do it now. Go in with your credit report, explain your situation, and see what they can do. Your scores are inline for some unsecured cards. Like another poster said, maybe get these 2 items cleaned up first, then go for a good card.

[2010]

Thank you all so much. 

I will go over these options and decide which one is best.