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Hi all,
My SO is trying to rebuild their credit and wondering which rebuilder card to start with. All 3 scores via myFICO are at 600. Many baddies but no open revolving credit. The last CC was open in 2010. Did the pre-qual with Cap1 and was pre-qualified for the Cap1 Platinum and Cap1 Quiksilver One Rewards.
They are really looking for a card that will grow with them. What would you suggest?
I personally have the Cap1 Quiksilver One Rewards card and it's a pretty good card for rebuilding. I don't plan on keeping it much longer though as my interest rate is 22.9% and the annual fee is $36. I got the card with a credit score of around 600 but I'm in better shape now and asked for new terms like a higher limit and better rate and they've been a little on the stingy side so I may ultimately take my business elsewhere. Good card for starting out or starting over tho.
Thanks for the reply. My experience with Cap1 was usually a 500 CL when I started out rebuilding. What was your starting limit?
I would get both
I have both cards, my CLI's have been faster with my QS though
@Loques wrote:Thanks for the reply. My experience with Cap1 was usually a 500 CL when I started out rebuilding. What was your starting limit?
Same as you, a nice $500 limit. I was more than happy to start with $500 as I really had no choice. Beggars with a 500 credit score can't be choosers lol
I agree with everyone who said apply for both Cap1 cards. I started rebuilding with both and my QS1 card has already been increaked to $3K limit and I'm not on the third statement yet (that will cut next week).
I would take both cap1 cards. it would be hard to find a card that will grow with you much when you have a 600 credit score. I think that is why I have so many cards because as my score grows I wanted the next thing that it would allow me to have. For the record I would not suggest that anyone get as many cards as I have gotten in the last year.......
I was approved for the cap 1 platinum and they gave me a $500 limit and from what I understand they are great to start with and build some credit history.
@Loques wrote:Hi all,
My SO is trying to rebuild their credit and wondering which rebuilder card to start with. All 3 scores via myFICO are at 600. Many baddies but no open revolving credit. The last CC was open in 2010. Did the pre-qual with Cap1 and was pre-qualified for the Cap1 Platinum and Cap1 Quiksilver One Rewards.
They are really looking for a card that will grow with them. What would you suggest?
Just a little update: We decided not to go with Capital One (I personally have not had impressive experiences with them). We went with the NFCU secured card (we bank with them) with a $500 limit. Scores have already jumped 40-60 points across all 3 CRBs for having the revolver open and taking care of a few baddies! The plan is to apply for an unsecured card at 1 year once scores are in the upper 600s and some of the other baddies are taken care of.