topic Re: Getting a Credit Card in Credit Cards

Getting a Credit Card

heyyou12 — Tue, 05 Apr 2011 19:20:01 GMT

Hi everybody,

I currently just have a bank of america secured credit card and of course it will vary i assume but I was wondering what credit score was the minimum you need to basically guarantee that you get approved for a regular unsecured credit card,. what that score will be that you need, I just wanted to ask you guys and gals 1st rather than getting a inquiry without getting approved, I just want to ask 1st you know.. So the safe minimum score that I need to get approved is what ?????????

Thanks

Re: Getting a Credit Card

Creditaddict — Tue, 05 Apr 2011 19:22:21 GMT

This is your only credit? have you pulled at least 1 of your scores from here at myfico?

Credit score isn't everything!

Re: Getting a Credit Card

heyyou12 — Tue, 05 Apr 2011 20:04:24 GMT

yes and yes

Re: Getting a Credit Card

Creditaddict — Tue, 05 Apr 2011 20:07:45 GMT

If you share might be easier to suggest things

Re: Getting a Credit Card

heyyou12 — Tue, 05 Apr 2011 20:21:07 GMT

Ok,

Well i have a bankruptcy from 4 years ago, Have been and authorized signer to a mastercard that is 4 years old that is not in my name but i am getting credit for it, and has been paid always on time, that was at 100% util but i just paid that down to 0 and has not yet reported but when it does i will get hopefully a big scores increase, and just got a secured card one month ago from bank of america, No collections no bad credit except for the bankruptcy that was from 4 years ago. Theres nothing else on my credit except for the 3 things that i have mentioned and my eq scores here on myfico is saying 663, but like i said when that 100% reports to 0 i am hopeing for a big increase, And i just wanted to know what a safe number would be before applying for a unsecured credit card

Thanks

Re: Getting a Credit Card

Anonymous — Tue, 05 Apr 2011 20:24:28 GMT

You may want to look into a Capital One Standard Platinum Card. It usually has a low credit limit. But I got it last month with no credit history at all, and it reports to all three credit agencies. Just some friendly advice!

Re: Getting a Credit Card

creditguy-378 — Tue, 05 Apr 2011 20:24:45 GMT

what's your scores look like if they are in the mid 600's apply for a prime card if less go for a capital one card

Re: Getting a Credit Card

Creditaddict — Tue, 05 Apr 2011 20:31:17 GMT

What banks were included in your BK?

I would not apply to prime banks, you have a bk... most are not going to issue you a card until you build more history.

Capital One

Barclay

are 2 very good choices to continue rebuilding.

Re: Getting a Credit Card

heyyou12 — Tue, 05 Apr 2011 20:54:12 GMT

Any capitol one card that you reccomend

Re: Getting a Credit Card

Creditaddict — Tue, 05 Apr 2011 20:59:03 GMT

@heyyou12 wrote:
Any capitol one card that you reccomend

go to the site and do the prequal link... if they don't say your pre-approved for one I would not apply

Re: Getting a Credit Card

Walt_K — Wed, 06 Apr 2011 01:54:23 GMT

@Creditaddict wrote:

@heyyou12 wrote:
Any capitol one card that you reccomend
go to the site and do the prequal link... if they don't say your pre-approved for one I would not apply

Do you think so? I find the Cap One prequal link a little finicky. Recently I was pre-approved for the Venture Card. A few days later, with no changes to my report, I had no preapprovals and they suggested I apply for a Classic Platinum with $39 AF. I would think a score of 663 would be good enough for a Cap One card. I got my current card (which is the Classic Plat with $39 AF) when my scores were low 600s and in a worse credit market.

But I didn't have a BK. Is that part of the reason you're suggesting the OP not apply with his current score if there are no preapprovals?

Re: Getting a Credit Card

Anonymous — Wed, 06 Apr 2011 04:30:32 GMT

@heyyou12 wrote:
Ok,

Well i have a bankruptcy from 4 years ago, Have been and authorized signer to a mastercard that is 4 years old that is not in my name but i am getting credit for it, and has been paid always on time, that was at 100% util but i just paid that down to 0 and has not yet reported but when it does i will get hopefully a big scores increase, and just got a secured card one month ago from bank of america, No collections no bad credit except for the bankruptcy that was from 4 years ago. Theres nothing else on my credit except for the 3 things that i have mentioned and my eq scores here on myfico is saying 663, but like i said when that 100% reports to 0 i am hopeing for a big increase, And i just wanted to know what a safe number would be before applying for a unsecured credit card

Thanks

I think you should have 6 months of reporting on the BofA card before you apply for the next one. It is the only one you are responsible for.

Re: Getting a Credit Card

Anonymous — Wed, 06 Apr 2011 11:10:48 GMT

@heyyou12 wrote:
Hi everybody,

I currently just have a bank of america secured credit card and of course it will vary i assume but I was wondering what credit score was the minimum you need to basically guarantee that you get approved for a regular unsecured credit card,. what that score will be that you need, I just wanted to ask you guys and gals 1st rather than getting a inquiry without getting approved, I just want to ask 1st you know.. So the safe minimum score that I need to get approved is what ?????????

Are you asking about the minimum qualifications to getting your BoA card unsecured, or for unsecured products with other lenders?

Re: Getting a Credit Card

heyyou12 — Thu, 07 Apr 2011 10:18:34 GMT

Ok guys i just got the new report with my credit increase that i was talking bout.. My credit scores went from 663 too 686 soo with this new scores and what i have said thus far bout my credit, will you say that this will get mee approved for bout any unsecured card that i will like to be applying for

Re: Getting a Credit Card

heyyou12 — Thu, 07 Apr 2011 21:36:56 GMT

@Anonymous wrote:
@heyyou12 wrote:
Hi everybody,

I currently just have a bank of america secured credit card and of course it will vary i assume but I was wondering what credit score was the minimum you need to basically guarantee that you get approved for a regular unsecured credit card,. what that score will be that you need, I just wanted to ask you guys and gals 1st rather than getting a inquiry without getting approved, I just want to ask 1st you know.. So the safe minimum score that I need to get approved is what ?????????
Are you asking about the minimum qualifications to getting your BoA card unsecured, or for unsecured products with other lenders?

either or

Re: Getting a Credit Card

Anonymous — Thu, 07 Apr 2011 21:46:00 GMT

I got approved for the Capital One STANDARD platinum card with no credit history at all. It only a $300 limit... But it's unsecured

Re: Getting a Credit Card

heyyou12 — Thu, 07 Apr 2011 22:00:00 GMT

@Anonymous wrote:
I got approved for the Capital One STANDARD platinum card with no credit history at all. It only a $300 limit... But it's unsecured

My scores just increased too 686 and i am looking for a card for 1000 dollars an up.. Anyone that has bout the same scores as me am can reccomend a good card that will be awesome, and thanks very much for all your previous responces

Re: Getting a Credit Card

heyyou12 — Fri, 08 Apr 2011 00:34:01 GMT

@heyyou12 wrote:
@Anonymous wrote:
I got approved for the Capital One STANDARD platinum card with no credit history at all. It only a $300 limit... But it's unsecured
My scores just increased too 686 and i am looking for a card for 1000 dollars an up.. Anyone that has bout the same scores as me an can recommend a good card that will be awesome, and thanks very much for all your previous responses

Bump

Bump

Re: Getting a Credit Card

trumpet-205 — Fri, 08 Apr 2011 05:20:32 GMT

Citi Forward

Re: Getting a Credit Card

Anonymous — Fri, 08 Apr 2011 12:15:51 GMT

@heyyou12 wrote:
Ok guys i just got the new report with my credit increase that i was talking bout.. My credit scores went from 663 too 686 soo with this new scores and what i have said thus far bout my credit, will you say that this will get mee approved for bout any unsecured card that i will like to be applying for

I think that with a very thin credit file, and a bankruptcy reporting that you might want to take it easy, and wait for a bit. You mentioned that your BoA secured card is just about a month old. Your only other tradeline is an AU account. I think that you'll have to forget about your scores for a moment, and proceed as if you're very new to credit, as your credit file would indicate. Let your BoA Secured Card age (PIF each month!) for at least six months, and get some good history behind it. You can also increase your secured deposit to $1k or greater (assuming it's not already there) in the meantime. While you wait, look for a good credit union. There's lots of recommendations in this forum, but you can also look locally! Interview them, and ask them about their lending standards if you have a bankruptcy. If they won't extend credit with a BK reporting, on to the next one on your list. When you find one that you love, and that is BK friendly (there are lots of options), then park your direct deposits in a checking acccount, make regular savings deposits as well, and wait out the six months. Then... apply for an unsecured credit line. I think that with a current non-AU account in excellent standing, but with history behind it, with a CL over $1k, that you'd not have trouble securing a credit line greater than $1k, unsecured, with a credit union. Particularly so if you look at some of our favorites that we're always raving about in this forum!

Your FICO scores, while on the rise (congrats on the increase!!!) are not the only factor in the decision to grant credit. Especially now, post credit crisis, the content of your credit reports, and your credit experience, is as, if not more important (for lots of lenders) as the score itself.

And, if my suggestion or that of others who've replied isn't satisfactory, you can always look here: Credit Card Center for some recommendations!

Good luck, and let us know what you decide.