topic Re: Apply For Secure or Unsecure CC? in Credit Cards

Apply For Secure or Unsecure CC?

Anonymous — Fri, 08 Apr 2011 04:06:33 GMT

Credit Score now 680. No revolving lines of credit. Multiple late payments still showing on CR.

Should I apply for a Secure or Unsecure card? Reason?

Should i try to get a Public Savings CC since it will not show an inquiry?

Re: Apply For Secure or Unsecure CC?

Anonymous — Fri, 08 Apr 2011 14:23:10 GMT

Might want to try some of the preselectors like amex, discover, cap1.

I would say unsecured if your scores are correct

Re: Apply For Secure or Unsecure CC?

Anonymous — Fri, 08 Apr 2011 17:21:21 GMT

@Anonymous wrote:
Credit Score now 680. No revolving lines of credit. Multiple late payments still showing on CR.
Should I apply for a Secure or Unsecure card? Reason?
Should i try to get a Public Savings CC since it will not show an inquiry?

It is important to get a least one CC to improve your credit. I don't think inquiries are very important since you have the late payment negatives on your report, I would not worry about a using a few of them up.

I suggest you apply for unsecured card with someone who offers both and take the secured card if you don't qualify for unsecured. If you have a need (and the funds) for a higher limit card, you may want to consider a secured card anyway

Among the major banks, I suggest Capital One first choice, Orchard(HSBC) second.

I think your credit is too good for Public Savings Bank, but I would recommend them if you can't get secured cards from anyone else.

I have secured cards from Capital One, HSBC, and until recently PSB. Here is my experience with them.

http://ficoforums.myfico.com/t5/Credit-Cards/Public-Savings-Bank-Secured-Card-Post-Mortem/td-p/883812

Re: Apply For Secure or Unsecure CC?

Anonymous — Fri, 08 Apr 2011 19:13:57 GMT

With those scores, you should have no problem getting an Unsecured Card. I just got my first credit card last month and it was unsecured (Capital One Standard Platinum).