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Filed CH7 BK 7-5-16, DC 10-12-16 - my husband and I have 2 auto loans which have 7 and 8 months of good repayment history. He has 2 store cards under his name through Comenity with $250 balances. Comenity just let me back in with the SCT and Overtock for a $250 limit. I can't get a Cap One card since they were included in my BK and it's been under a year since CO with them. To help my score grow quicker, would it be best to bite the bullet and get an Open Sky or Credit One credit card? We keep getting pre approval offers from them daily in the mail, so I would think my odds of being approved would be high. I really don't want to do a secured card, unless someone can give me a lead on a card that might let you pay them a few hundred for a higher revolving limit.
I did try to get a PenFed CC last week, and was told basically they couldn't overturn the denial due to my credit score which they said was 609. To be the lowest tier in their risk bsaed lending you need a 624.
Credit One is a train wreck of a card and deserves to go into the trash can. They are a predator and their offers that you get in the mail should go right into the fireplace or wood burning stove.
Others will chime in and suggest good secure cards for you.
Thanks Donny. I didn't really want to even go down that road with them. I was just trying to think of a way to help my credit score go up and hopefully quickly. I'm not talking a lot of points, just up.
@Anonymous wrote:Thanks Donny. I didn't really want to even go down that road with them. I was just trying to think of a way to help my credit score go up and hopefully quickly. I'm not talking a lot of points, just up.
I'm hoping others will chime in to give you info on good secure cards. I can't because I never had one and don't know enough about the subject.
@fltireguy wrote:
Just wondering. Did you open a savings account at PenFed? If you did, try again in 6 months when your scores are a little higher..
You'd probably be better off with a BofA or Discover secured, even though I know that you don't want to go that route. But, both of them are good lenders, not predatory like Credit one and First Premier
I used to be a PenFed employee, I have a savings with them that's about 6 years old with $5 in it. This was actually the ONLY time I've applied they've told me they would lend to me, but my score was just too low. When I was an employee with them before and tried getting an auto loan or CC, etc - they would always scrutinize the app and ask all these questions they really aren't legally allowed to ask, but did. Like " I see you have a personal loan, why did you get that, what did you use the money for? Can you prove it with reciepts?" "I see your husband makes good money...".. Just stupid stuff. NOT Being an employee trying to get a loan is actually in my favor. I think I'll try again with them when I'm one year post DC I should be golden.
What about that Indigo card? They are sub prime it looks like as well, but it seems like more people have those in their sig lines than Premier/Credit One.
Well no matter which way you decide, you can prequalify for Credit One at least. That way you would know whether it would be a wasted pull or not. I'm just saying not advising.
@Anonymous wrote:
@fltireguy wrote:
Just wondering. Did you open a savings account at PenFed? If you did, try again in 6 months when your scores are a little higher..
You'd probably be better off with a BofA or Discover secured, even though I know that you don't want to go that route. But, both of them are good lenders, not predatory like Credit one and First PremierI used to be a PenFed employee, I have a savings with them that's about 6 years old with $5 in it. This was actually the ONLY time I've applied they've told me they would lend to me, but my score was just too low. When I was an employee with them before and tried getting an auto loan or CC, etc - they would always scrutinize the app and ask all these questions they really aren't legally allowed to ask, but did. Like " I see you have a personal loan, why did you get that, what did you use the money for? Can you prove it with reciepts?" "I see your husband makes good money...".. Just stupid stuff. NOT Being an employee trying to get a loan is actually in my favor. I think I'll try again with them when I'm one year post DC I should be golden.
What about that Indigo card? They are sub prime it looks like as well, but it seems like more people have those in their sig lines than Premier/Credit One.
- OOPS - my bad.. I do know that you used to work for them... (I've seen that in a few posts...)
@Anonymous wrote:
@fltireguy wrote:
Just wondering. Did you open a savings account at PenFed? If you did, try again in 6 months when your scores are a little higher..
You'd probably be better off with a BofA or Discover secured, even though I know that you don't want to go that route. But, both of them are good lenders, not predatory like Credit one and First PremierI used to be a PenFed employee, I have a savings with them that's about 6 years old with $5 in it. This was actually the ONLY time I've applied they've told me they would lend to me, but my score was just too low. When I was an employee with them before and tried getting an auto loan or CC, etc - they would always scrutinize the app and ask all these questions they really aren't legally allowed to ask, but did. Like " I see you have a personal loan, why did you get that, what did you use the money for? Can you prove it with reciepts?" "I see your husband makes good money...".. Just stupid stuff. NOT Being an employee trying to get a loan is actually in my favor. I think I'll try again with them when I'm one year post DC I should be golden.
What about that Indigo card? They are sub prime it looks like as well, but it seems like more people have those in their sig lines than Premier/Credit One.
Interesting, when I worked for Navy Fed all employee apps were routed through to Lending Supervisor and they NEVER asked any questions, I got a $15,000 credit card (equivalent to 70% of my annual income at the time) with basically no credit history likely due solely to the fact I was an employee at the time. I would look into Navy Fed and apping for a secured card they have a solid reputation.