topic Re: Any alternatives to Open Sky for rebuilding that uses soft pull? in Credit Cards

Any alternatives to Open Sky for rebuilding that uses soft pull?

cedric_86 — Wed, 17 Jun 2020 19:25:11 GMT

I need to add a credit card that reports to all bureaus, but don't want HP. Was looking at Open Sky because it seems like a sure approval.

I've read of problems with purchases taking a while to post, as well as the payments.

I would like something that I'm able to post my payment online and it's almost immediate. Can't chance having a payment post late from Open Sky.

I have seen the thread with a list of credit cards that was from a few years ago. Just wondered if anyone else had any suggestions. Need to make a move soon.

Thanks

Re: Any alternatives to Open Sky for rebuilding that uses soft pull?

K-in-Boston — Wed, 17 Jun 2020 19:29:19 GMT

Are you simply looking for a card issued with no hard inquiry in case you are denied? If approved for a new card, the impact of having a new account reporting is typically far more detrimental to scoring and credit-seeking algorithms than inquiries. Depending on one's profile, a single inquiry can more or less be a non-event.

Re: Any alternatives to Open Sky for rebuilding that uses soft pull?

Anonymous — Wed, 17 Jun 2020 19:44:11 GMT

@cedric_86 wrote:
I need to add a credit card that reports to all bureaus, but don't want HP. Was looking at Open Sky because it seems like a sure approval.
I've read of problems with purchases taking a while to post, as well as the payments.
I would like something that I'm able to post my payment online and it's almost immediate. Can't chance having a payment post late from Open Sky.
I have seen the thread with a list of credit cards that was from a few years ago. Just wondered if anyone else had any suggestions. Need to make a move soon.

Thanks

That's a great question!

Can you help us understand what your current credit profile looks like (scores, bads, inqs, etc) so we can help make a suggestion?

I second what K said about an HP being nearly a non-event to most profiles, so if you can help us understand what other goals you may have here, that would help.

Re: Any alternatives to Open Sky for rebuilding that uses soft pull?

cedric_86 — Wed, 17 Jun 2020 19:54:06 GMT

Here is parts from another post I made.

Have gotten some medical bills deleted.

Recently opened SSL with my credit union for $500

Was thinking of trying Discover (pre-qual) and if denied would try Open Sky.

Current FICO 8 scores: EQ: 589 | TU: 583 | EX: 584 (Using MyFico Advanced, under other scores for mortgage lending these show mid 600s) not sure how true that is.

Adverse Accts:

Cap 1. Opened 12/15; CO 06/17; settled for less 5/19 thru lawyer (Blitt & Gaines)- TU shows $353 past due (not sure why) | 7 late pays between 10/16 - 4/17)
GM Financial Opened 6/12; Repoed 3/18; settled for less 8/18; 9 late pays between 8/16 -12/17; (1 late pay in 2013, will that fall off?) It probably doesn't matter.
Tidewater Finance Opened 10/11; paid off 02/18; 6 late pays between 9/16-2/17; Shows $3268 balance and pays as agreed on EQ - will need to dispute that. (by having it reported as closed will that drop AAoA or score)
Credit Management Collection for Comcast - settled for less 6/19
Ch. 7 BK set to fall off 10/21

Satisfactory Accounts

Lowes- Opened 8/2005; Closed 11/11

Fingerhut - Opened 5/2014; limit $1500; bal $56

Credit Union SSL - Opened 6/1 for $500; reporting as undesignated

about 6 hard inquiries from 2018 and the 1 from this year.

I'm working to boosting score to apply for a mortgage soon.

I don't want to waste a hardpull to be denied.

Re: Any alternatives to Open Sky for rebuilding that uses soft pull?

K-in-Boston — Wed, 17 Jun 2020 19:56:40 GMT

If you are applying for a mortgage soon, I would advise against applying for any new credit period. If the mortgage process is a year or more out, a HP would have no impact on scoring whatsoever.

Re: Any alternatives to Open Sky for rebuilding that uses soft pull?

cedric_86 — Wed, 17 Jun 2020 20:05:06 GMT

Yes. That's typical. I have already talked to a couple of lenders that said it would be ok, because at this point the scores are at a standstill.

I'm just looking for an alternative to Open Sky, but would prefer no HP to drop the score any further.