topic Re: Best credit building card? in Credit Cards

Best credit building card?

Anonymous — Wed, 23 Jul 2008 20:38:39 GMT

Hi All! I'm new to this whole credit card thing. So, I'm wondering what is the best way to go about building my credit using a CC? I have inquiries on my CR now and don't want to risk another one unless I know I'll get the card. In y'alls opinion what are the best top 3 cards to apply for? Greatest rate of approval for people with poor credit? Thanks!!

Re: Best credit building card?

Anonymous — Wed, 23 Jul 2008 20:43:24 GMT

There are cards for poor credit, such as Orchard Bank and Capital One. You can also apply for a secure card from BOA.

It is also good to have a different types of credit like loans or even store credit cards. You can try Macy's card, it is easy to get.

Re: Best credit building card?

Anonymous — Wed, 23 Jul 2008 20:46:11 GMT

Should I apply for a few at the same time? Or one at a time? I'm not that close to a Macy's so that wouldn't do me any good. How easy is Old Navy?

Re: Best credit building card?

Anonymous — Wed, 23 Jul 2008 20:46:53 GMT

Forgot to add...we'll be trying to buy a house in the next 6 months to a year. Should I even do this at all?

Re: Best credit building card?

Anonymous — Wed, 23 Jul 2008 20:51:15 GMT

Old Navy is hard. My recommendation - wait for the offers to come in the mail if you already have a credit card. If no offers and you've already gotten declined, wait a few months. Don't go on an app spree only to get declined and then try to buy a house within the next year.

Or wait for the offer at the register. That's how I got Macy's and Target (helps if you use a credit card to pay with).

Re: Best credit building card?

Anonymous — Wed, 23 Jul 2008 20:55:33 GMT

Old Navy is issued by GEMB. It is a store credit card so good to have in your mix.

I think it is safe to say that you can apply for the store card and a credit card the same time.

Your scores will take a hit but as your cards age, your scores will come back and be higher that where you started off.

Try to look for credit cards that don't charge annual fees.

As you credit improves, you surely will be getting some prime cards without annual fees. By then your oldest card will be the one you get today. And you don't want to cancel the card that has your longest credit history.

Re: Best credit building card?

Anonymous — Wed, 23 Jul 2008 20:56:39 GMT

haha, I did get 2 offers in the mail yesterday. I don't have any credit cards at all. I've always been scared of them. But if it will help my score out I'll put away my fears and do it. Are the offers I receive in the mail a sure thing? I know my CL would be pretty low but from what I read if I keep in good standing I can get a CLI pretty quickly?

Re: Best credit building card?

Anonymous — Wed, 23 Jul 2008 21:00:47 GMT

@Anonymous wrote:
...Don't go on an app spree only to get declined and then try to buy a house within the next year.

Yeah, an app'ing spree will kill your chances especially now that lenders are tightening up with all the foreclosures and bad economy.

Housing market looks enticing now but if the economy stays the same, there will be no reason for the housing market to rebound.

I'd say focus on improving your credit. It takes time but you will reap the rewards later.

Re: Best credit building card?

Anonymous — Wed, 23 Jul 2008 21:17:27 GMT

Thanks for the advice!! I might just apply for one of the offers in the mail. Just to see what happens. If I get it then great!! I'll have a start on revolving credit. If not, oh well. Thanks again!!

Re: Best credit building card?

smallfry — Wed, 23 Jul 2008 21:22:00 GMT

IF you are even remotely thinking about applying for a mortgage in the next six months forget about applying for any credit cards. No one knows when the housing market is going to turn. Some areas ,like the one I am interested in, refuse to break down at all.

Re: Best credit building card?

Anonymous — Thu, 24 Jul 2008 01:26:46 GMT

Wow here. Let's be careful tellin' somebody who has two offers in the mail not to aply for their first and only credit card when they have none and want SOME kind of history/mix before aplying fr a mortgage. Something.

Tell us what kind of offers you are getting in the mail. I fully expect that if you are getting pre-aprovals that you've done something to better you credit. And if you are getting pre-aprovals it seems you might be able to do better than Old Navy.

#1, get your FICO scores before you make any moves. Tell us what you get. This could be interesting.

Re: Best credit building card?

Anonymous — Thu, 24 Jul 2008 03:20:20 GMT

@Anonymous wrote:
Hi All! I'm new to this whole credit card thing. So, I'm wondering what is the best way to go about building my credit using a CC? I have inquiries on my CR now and don't want to risk another one unless I know I'll get the card. In y'alls opinion what are the best top 3 cards to apply for? Greatest rate of approval for people with poor credit? Thanks!!

Did you just use the word "Ya'll?!!"

Hey!! Another Southern Lady! Yay!!!

Like the others said, good starters are the Orchard Bank and Cap One ... I'd also take a look-see into a Crown Jewelers account (www.crownjewelers.com). It's crappy, crappy jewelry, and expensive for what you get, but it's durn nigh a guaranteed $2500 CL and NO inquiry!!

You might also want to mosey on down to Bank of America and take a shot at a regular unsecured card with them ... chances are, you'll be counter-offered either their Secured card or their 99/500 card. The secured card is, of course, whatever CL you want it to be, you just have to deposit that much into a secured account and you have that much as a CL. The 99/500 is where you plunk down $99 and get a $500 CL.

After 9-12 months, it graduates to an unsecured PRIME card!!

Again, nice to see another Southern Belle here!! Best of luck!!

Re: Best credit building card?

Anonymous — Thu, 24 Jul 2008 10:04:43 GMT

Wonderin,

When I post I have to make my fingers refrain from using ya'll, but I guess I'll just come right out and be myself.....Texas girl here.....

Re: Best credit building card?

Anonymous — Thu, 24 Jul 2008 12:57:02 GMT

I was born and raised in East Tennessee, and I can honestly say I've never said or typed ya'll seriously in my life.

CUZ YA'LL AIN'T A WORD YA'LL HEAR?

Re: Best credit building card?

Anonymous — Thu, 24 Jul 2008 12:57:59 GMT

@Anonymous wrote:
Wonderin,
When I post I have to make my fingers refrain from using ya'll, but I guess I'll just come right out and be myself.....Texas girl here.....

Well, Darlin', I figure if we're going to air our dirty undies in the form of talking about our oogie credit, what's a few "ya'lls" between friends, right?!

'Sides, I have a harder time being "open" about our credit woes in public ... my corny corn-pone accent -- not so much! I've been a Southerner among Yankees for so long, I don't even notice it anymore!!

So from a Magnolia to a Yellow Rose, you just be YOU!!

Re: Best credit building card?

Anonymous — Thu, 24 Jul 2008 13:05:29 GMT

*ladylike snort*

Darlin', we're sweet Southern Belles ... and I'll betcha our "ya'lls" and "Darlin's" get us WAY further than you do when you speak ultra proper.

'Specially when we bat our eyelashes and titter ladylike an' all.

But that's actually a funny observation, Thrasher. My Daddy's from the Mighty Mississip and my Mama's from West Virginia -- I was raised in Virginia, but raised the Mississip way and I've ALWAYS heard "ya'lls" and "young'uns" and whatnot in my family. Even 'round DC where I grew up, once you hit the outskirts and wandered into the farm-y type areas, "ya'lls" abounded like 'skeeters in summer.

But I've heard our Southern accents and colloquialisms described by several authors as "powerful weapons in a Southern woman's arsenal," so who am I to question it? It works!!

Re: Best credit building card?

Anonymous — Thu, 24 Jul 2008 13:08:06 GMT

Ahh, thinking of Shelby Foote. That man's voice melted me -- may he RIP.

Re: Best credit building card?

Anonymous — Thu, 24 Jul 2008 13:18:17 GMT

I never had (or at least, haven't YET) the pleasure of hearing his voice, but I have read several of his books. I'm a HUGE Civil War buff (all history, to me, is fascinating -- except for Russian, that's just too durn depressing!!)!!

Did you hear him from narrating the Civil War series? How long ago? I'd love to have gotten to see it. :/

Re: Best credit building card?

Anonymous — Thu, 24 Jul 2008 13:26:15 GMT

Wonderin wrote:
I never had (or at least, haven't YET) the pleasure of hearing his voice, but I have read several of his books. I'm a HUGE Civil War buff (all history, to me, is fascinating -- except for Russian, that's just too durn depressing!!)!!

Did you hear him from narrating the Civil War series? How long ago? I'd love to have gotten to see it. :/

(I'm so sorry for how OT this thread has become -- I'd like some feedback and I'll yank it over to Smorg.)

I teach 8th grade US History, which in IN is pre-exploration thru Reconstruction. I show the PBS CIvil War series by Ken Burns, or at least parts of it, every year. Shelby is featured quite often in the series. I've seen him on other documentaries, too, and he always drew me in with his voice. I'm so bad my students even know how much I just love his voice. He always stops me in my tracks, whatever I'm doing in the classroom. LOL.

Re: Best credit building card?

Anonymous — Thu, 24 Jul 2008 13:44:35 GMT

LOL! I don't suppose you'd consider loaning that DVD (or VHS) to me, would you?

Seriously, though, I think I'll go traipsing through Amazon or eBay and see if I can find a copy. Hubby's a Civil War buff, too (ONLY Civil War ... otherwise, it's just aviation and marine history).

My FIL was a Civil War buff, too, and he was able to save a few family heirlooms (circa 1860s) -- a burial shroud, a christening gown, and a lap robe. We donated them, a few years back after he died, to the Smithsonian (what he would have wanted).

I'm a quilter and have a few Civil War era quilts (from the SOUTH, no less ... out of which VERY few quilts survived the War). Those came directly from my Daddy's side of the family. And I'm too durn sentimental over them to donate them anytime soon.

But my interest in the CW came about mostly from quilting. Such gorgeous quilts were made by the Southern ladies, in their scratchy linsey-woolseys, for raffling off to buy gunboats. But because the South got raized, most of them were cut up for bandages, given to random soldiers, etc, that so very, very, few of them survive.

Anywho, I could blather and babble on for hours about the CW (and quilts! LOL!) ....