topic Re: Best cards for a score around 500? in Credit Cards

Best cards for a score around 500?

Anonymous — Wed, 30 Sep 2015 23:23:22 GMT

I just started working on my credit and a lot of things have fallen off, been removed for incorrect reporting and/or will be soon. Verizon ($2783) is the highest debt I have outside of student loans at ($23000). The student loans are up up to date and reporting current. capital one through portfolio recovery associates ($946) falls off May April 2016. Virtuoso sourcing group ($259) falls off May 2017. Coast pro ($1825) falls off December 2017. Credit management ($358) falls off June 2017. fox collection ($207) new account from a recent move out of state. I am looking for a unsecured credit card or department store card. I plan to buy my fico score soon because any good accounts I had fell off and dropped my score according to credit karma. Any suggestions? Also any suggestions on the best places to get scores or is myfico the best place?

P.S. credit one one would not approve me and I did get get approved for a fingerhut account a few months ago. Are there any other cars that do preapproval? How do you get those offers if so?

Thanks!

Re: Best cards for a score around 500?

kdm31091 — Wed, 30 Sep 2015 23:28:19 GMT

@Anonymous wrote:
I just started working on my credit and a lot of things have fallen off, been removed for incorrect reporting and/or will be soon. Verizon ($2783) is the highest debt I have outside of student loans at ($23000). The student loans are up up to date and reporting current. capital one through portfolio recovery associates ($946) falls off May April 2016. Virtuoso sourcing group ($259) falls off May 2017. Coast pro ($1825) falls off December 2017. Credit management ($358) falls off June 2017. fox collection ($207) new account from a recent move out of state. I am looking for a unsecured credit card or department store card. I plan to buy my fico score soon because any good accounts I had fell off and dropped my score according to credit karma. Any suggestions? Also any suggestions on the best places to get scores or is myfico the best place?

P.S. credit one one would not approve me and I did get get approved for a fingerhut account a few months ago. Are there any other cars that do preapproval? How do you get those offers if so?

Thanks!

Myfico is okay for scores, but there are other options that are free. Credit Karma and Credit Sesame, etc. They aren't true FICO scores, but they also are free and will give you a ballpark range, as well as free info on what's going on in your reports.

At that score, your only real hope is going to be a secured card from Capital One, Citi, BOA, etc and even that may be a stretch but could be doable.

Re: Best cards for a score around 500?

Anonymous — Wed, 30 Sep 2015 23:32:25 GMT

@Anonymous wrote:
I just started working on my credit and a lot of things have fallen off, been removed for incorrect reporting and/or will be soon. Verizon ($2783) is the highest debt I have outside of student loans at ($23000). The student loans are up up to date and reporting current. capital one through portfolio recovery associates ($946) falls off May April 2016. Virtuoso sourcing group ($259) falls off May 2017. Coast pro ($1825) falls off December 2017. Credit management ($358) falls off June 2017. fox collection ($207) new account from a recent move out of state. I am looking for a unsecured credit card or department store card. I plan to buy my fico score soon because any good accounts I had fell off and dropped my score according to credit karma. Any suggestions? Also any suggestions on the best places to get scores or is myfico the best place?

P.S. credit one one would not approve me and I did get get approved for a fingerhut account a few months ago. Are there any other cars that do preapproval? How do you get those offers if so?

Thanks!
SDFCU does a secured card with a $250 deposit. They don't do a HP, but they do check Chexsystems to make sure you don't have any previous banking issues.

Re: Best cards for a score around 500?

Anonymous — Wed, 30 Sep 2015 23:32:49 GMT

Capital One may be a stretch for you since you currently still have one of their accounts in collections, but a secured account will definitely be your best option. If you were approved for finger hut and any other store card at this point, I would go ahead and establish a positive payment history with them, to start.

Re: Best cards for a score around 500?

Anonymous — Thu, 01 Oct 2015 00:21:59 GMT

Thanks for the advice I will look into those and follow through with the fingerhut account for now.

Re: Best cards for a score around 500?

Anonymous — Thu, 01 Oct 2015 00:23:45 GMT

Below 550, I'd try OpenSky. No Credit Check.

Verve, First Premier, Credit One, NO. Look away.

Capital One Secured, your local credit union, Yes.

Re: Best cards for a score around 500?

Anonymous — Thu, 01 Oct 2015 01:43:43 GMT

Wow! Hard recommending. Unfortunately, predatory cards are about your only chance at that score range. It would be in your best interest however, to try for secured card from a bank or CU that will eventually graduate to unsecured and stay away from cards like FP and Credit One that will point to past credit issues in the future. I started my rebuild with BofA secured. Now that same account is a $10K Cash Rewards card with an APR at 13.99%!
You can do it!

Re: Best cards for a score around 500?

Anonymous — Thu, 01 Oct 2015 01:45:46 GMT

PS. Check out the rebuilding forum for advice on dealing with those 'glitches'.

Re: Best cards for a score around 500?

Anonymous — Thu, 01 Oct 2015 02:30:28 GMT

As far as unsecured is concerned, something like credit one would be your only shot. I had them for a year, after six months I applied for Walmart and Amazon and carecredit a month later. Also got chase freedom whoch is now my primary card. Keep credit one for a year then drop it the second you get something better.

Re: Best cards for a score around 500?

Anonymous — Thu, 01 Oct 2015 13:16:40 GMT

I would think secured (Mod Cut-Not supportive with this statement) would be your only options at this time.

Re: Best cards for a score around 500?

Anonymous — Thu, 01 Oct 2015 03:20:04 GMT

@Anonymous wrote:
I just started working on my credit and a lot of things have fallen off, been removed for incorrect reporting and/or will be soon. Verizon ($2783) is the highest debt I have outside of student loans at ($23000). The student loans are up up to date and reporting current. capital one through portfolio recovery associates ($946) falls off May April 2016. Virtuoso sourcing group ($259) falls off May 2017. Coast pro ($1825) falls off December 2017. Credit management ($358) falls off June 2017. fox collection ($207) new account from a recent move out of state. I am looking for a unsecured credit card or department store card. I plan to buy my fico score soon because any good accounts I had fell off and dropped my score according to credit karma. Any suggestions? Also any suggestions on the best places to get scores or is myfico the best place?

P.S. credit one one would not approve me and I did get get approved for a fingerhut account a few months ago. Are there any other cars that do preapproval? How do you get those offers if so?

Thanks!

@Sign up with Credit Karma or Credit Sesame, they're free and you can get a decent start @ rebuilding & monitering. Keep the FHut acct current & stick with that for awhile. I don't know if any store card will approve you right now. Go the secured card route, personally I think you should wait awhile before getting any cards. It will take work & commitment to repair your credit but it's def. do able; just read the posts in this forum.

Re: Best cards for a score around 500?

Anonymous — Thu, 01 Oct 2015 03:22:06 GMT

Sign up for Credit Check Total and then call them to say your paying less somewhere else. They will offer you it at a discounted price of around $12-$14 per month. It will give you all 3 Fico 8 scores and reports 3 times a month. Then go and open a OpenSky credit card(it's secured but no credit check). Don't get any other cards until you pre-qual for a Cap One card on their site.

Re: Best cards for a score around 500?

Anonymous — Thu, 01 Oct 2015 04:29:32 GMT

Don't open any predatory accounts like First Premier or Credit One.

Open Sky & SDFCU secured. Keep those open for 6 months. Check your scores. By then, a couple of your bad accounts will be falling off. Then, you can check prequalifier pages.

Re: Best cards for a score around 500?

Anonymous — Thu, 01 Oct 2015 09:44:07 GMT

UPDATE!! I actually checked my fico scores and this is what they actually are experian 551, transunion 552, equifax 547. Credit karma had me below 506 and 512 for two of them. Does that change anything that has been recommended so far?

Re: Best cards for a score around 500?

elim — Thu, 01 Oct 2015 10:49:10 GMT

@Anonymous wrote:
UPDATE!! I actually checked myfico scores and this is what they actually areexperian 551,transunion 552,equifax 547. Credit karma had me below 506 and 512 for two of them. Does that change anything that has been recommended so far?

Hey you're getting closer! I would still recommend secure cards and loan.

A couple secured cards reporting along with a share secured loan may get you to the 600 mark in a few months. SDFCU will open a loan against your deposit and you can use the $$ to open a secured card with them (2 for 1). Keep disputing and PFD while the green marks start adding up on your reports and in no time at all things will start dropping off and you will have some positive payment history for approvals.

Re: Best cards for a score around 500?

Anonymous — Thu, 01 Oct 2015 23:25:18 GMT

@Anonymous wrote:
UPDATE!! I actually checked my fico scores and this is what they actually are experian 551, transunion 552, equifax 547. Credit karma had me below 506 and 512 for two of them. Does that change anything that has been recommended so far?

CK only gives you TU and EQ scores. I recommend staying put with maybe 1 secured card for now. If you need credit because you can't afford anything without it you'll just dig yourself in deeper.

Re: Best cards for a score around 500?

Shawndoe79 — Thu, 01 Oct 2015 23:57:51 GMT

@Anonymous wrote:
@Anonymous wrote:
I just started working on my credit and a lot of things have fallen off, been removed for incorrect reporting and/or will be soon. Verizon ($2783) is the highest debt I have outside of student loans at ($23000). The student loans are up up to date and reporting current. capital one through portfolio recovery associates ($946) falls off May April 2016. Virtuoso sourcing group ($259) falls off May 2017. Coast pro ($1825) falls off December 2017. Credit management ($358) falls off June 2017. fox collection ($207) new account from a recent move out of state. I am looking for a unsecured credit card or department store card. I plan to buy my fico score soon because any good accounts I had fell off and dropped my score according to credit karma. Any suggestions? Also any suggestions on the best places to get scores or is myfico the best place?

P.S. credit one one would not approve me and I did get get approved for a fingerhut account a few months ago. Are there any other cars that do preapproval? How do you get those offers if so?

Thanks!
SDFCU does a secured card with a $250 deposit. They don't do a HP, but they do check Chexsystems to make sure you don't have any previous banking issues.

Re: Best cards for a score around 500?

Shawndoe79 — Thu, 01 Oct 2015 23:59:31 GMT

Milestone gold mastercard has a prequal to see if you qualify, the limit will be like $300 but its a start, 59 annual fee