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What card would you start with?

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Loques
Regular Contributor

What card would you start with?

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?

Current Score (11/2020): EQ: 753 | TU: 731 | EX: 749---Starting Score (3/2010): EQ: 522 | TU: 525 | EX: 520---Goal: All 3 FICO 800+
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Message 1 of 10
9 REPLIES 9
Anonymous
Not applicable

Re: What card would you start with?

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. 

Message 2 of 10
Loques
Regular Contributor

Re: What card would you start with?

Thanks for the reply. My experience with Cap1 was usually a 500 CL when I started out rebuilding. What was your starting limit?

Current Score (11/2020): EQ: 753 | TU: 731 | EX: 749---Starting Score (3/2010): EQ: 522 | TU: 525 | EX: 520---Goal: All 3 FICO 800+
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Message 3 of 10
Anonymous
Not applicable

Re: What card would you start with?

I would get both Smiley Happy

I have both cards, my CLI's have been faster with my QS though

Message 4 of 10
Anonymous
Not applicable

Re: What card would you start with?

Apply for both, one immediately after the other, same browser session.
Message 5 of 10
Anonymous
Not applicable

Re: What card would you start with?


@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

Message 6 of 10
braznyc
Frequent Contributor

Re: What card would you start with?

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).

Message 7 of 10
jbsea
Established Contributor

Re: What card would you start with?

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.......

Amex Gold / Amex Platinum / Amex Marriott Brilliant/ Amex BCP/ Capital One Venture (AU) / Capital One Savor One/ Discover / NFCU Cash Rewards / BOA Unlimited Cash Rewards / NFCU GO Rewards (AU) / Amex EDP / NFCU Flagship Rewards / Chase Freedom (AU) / Capital One QuickSilver / Citi Costco (AU) / Amex Delta
Message 8 of 10
Anonymous
Not applicable

Re: What card would you start with?

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. 

Message 9 of 10
Loques
Regular Contributor

Re: What card would you start with?


@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.

Current Score (11/2020): EQ: 753 | TU: 731 | EX: 749---Starting Score (3/2010): EQ: 522 | TU: 525 | EX: 520---Goal: All 3 FICO 800+
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Message 10 of 10
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