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Should he start w/Freshstart?

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Anonymous
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Should he start w/Freshstart?

My bf recently applied for a Cap 1 card and was denied. His score is in the low 500's and the only derog he has is a Conn's account that he refuses to pay because his brother stayed with the tv! (blah blah blah I'm about to pay that off for him bc I cannot get him to understand!) He financed 2 cars last year a new one for 25k in June and a pre-owned for 32k in October. The only other open account he has is an installment loan from his credit bureau, which is is more than half done paying.  My question is, should he open a Fingerhut Freshstart account to start establishing revolving credit? He has applied for a couple of other accounts and they were denied due to lack of revolving credit.

 

Thanks in advance! 

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Anonymous
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Re: Should he start w/Freshstart?

I'd say yes & also he should get a secured through Cap One, but he should also understand that if he is able to pay off the Conn's he should because it is hurting HIM & HIS credit profile. If he truly wants to fix his credit & move on, he will. 

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