Capital 1 but I'm not even sure they will take her. She may have to go the first premier or credit one. Don't jump into anything until the mods move this to the rebuilding forum where someone will be more versed in helping.
Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Like other people have said on here, she really needs to send out some GW letters. When I was rebuilding, I was able to get a 90 day late and a 30 day late removed that way and it took years off the rebuilding process. If she has the means, she should write a PFD letter to try to get that really big bill off her report. That will really cause problems for her unless she takes action to deal with it.
I would also recommend that she get some store cards to start building good payment history. She can use the Comenity "shopping cart trick" to maximize her results without taking too many hard pulls that would negatively affect her credit. Also, I recommend getting a Walmart store card, because it will grow with her over time (and eventually upgrade to a Walmart Discover card that she can use anywhere) and it would give her a free TU score every month if she signs up for online billing.
For secured cards, she could try a credit union. Credit unions are much more willing to work with customers who are rebuilding, because they are not-for-profit. If that doesn't work, Cap1 might be the best option.
She should stay far, far away from 1st Premier or Credit One. Not only do those cards charge exhorbitant fees, but other lenders will look negatively at her for having them on her report. (At least, that's what I've heard anecdotally.)
Whatever happens, give her lots of encouragement. I was once in a similar situation and it took years of hard work, but now I have great credit and lenders give me the best rates on everything. It makes life so much easier when you repair your credit.
Starting Score: TU: 566
@takeshi74 wrote:
@fezwhy wrote:
She doesn't understand why you should gave at least 1 for emergencys.It's not just for emergencies. Credit scoring is in part based on number of accounts and diversity of types of credit.
Yeah, credit cards are not for emergencies. They are for everyday use to build positive payment history and/or rack up rewards and/or use the built-in consumer protections that aren't available on debit cards. The problem that many people have with credit cards is that they use them to borrow money. Don't do that. Would you take out an auto loan at 22.99%? Then why would you borrow money for a new outfit at that rate? Always PIF, except for one card reporting 1-9% for credit score maximization purposes.