topic Re: Getting a credit card. in General Credit Topics

Getting a credit card.

Anonymous — Sun, 15 Jul 2007 17:34:41 GMT

I have a FICO score of 649 and am trying to re-establish great credit. I am on-time for all bills and am paying off my last two bills in collections one in August and the other in a few months. I have two credit cards in my name one I never use the balance is a $0.60 cent credit (Victoria Secrets) and the other is a MC with a $265. balance paid on-time each month. I was told by my credit coulseling group, opening another card and using no more than 40% of the balance and then paying it off each month would increase my score. True?? Should I apply on my own or get a co-signer?? Also, when using the "get a card link" at myfico, whould I use fair or good as a card finder? Which card should I try to get?? I would hate to get rejection! I really want to improve my score!!! My biggest problem is from my past! Thanks...annab13

Re: Getting a credit card.

Anonymous — Sun, 15 Jul 2007 17:36:39 GMT

www.mycccu.com

A lot of people here have had luck with the company above, including my husband.

Try 'em!

Re: Getting a credit card.

Vu — Sun, 15 Jul 2007 17:50:49 GMT

The Get a Credit Card link from Fico is very unreliable. In example, if you selected your Fico score as Fair, it gives you prime cards such as Amex Clear, Chase, Discover.

Your Fico score is mid 600, is it Experian? If it is you should be qualified for Amex Delta, Hilton, Starwood. My Experian scores about 620 and I can get both Amex and Citi card.

If you TU is mid 600, you should be qualified for Wamu, Hooters, Juniper.

BoA and Chase both declined my application.

Re: Getting a credit card.

Anonymous — Sun, 15 Jul 2007 19:05:36 GMT

I would try going to Bank of Americas www.bofa.com site and under Products and Sevices chose Credit cards. Then press the button that says Check For Offers. Easy way to find out what you can get from them. Soft pull till you accually apply for the card you chose.

Re: Getting a credit card.

Anonymous — Sun, 15 Jul 2007 19:14:58 GMT

pre-approved or pre-qualify things is a crap. 4 days ago I applied for hsbc card online and they told me I am pre qualified and when I actually applied for it, I got denied.

Re: Getting a credit card.

Anonymous — Sun, 15 Jul 2007 19:21:12 GMT

Just a suggestion, not everyones situation is the same. If you are way low scores and have alot of recent junk in your trunk, may not be the best way to do it. Worked for me...and I have alot of old baddies.

Re: Getting a credit card.

Anonymous — Mon, 16 Jul 2007 00:53:45 GMT

Thanks...

It was Experian.

Re: Getting a credit card.

Anonymous — Mon, 16 Jul 2007 01:15:39 GMT

Congratulations ... you have a solid score to build from. You do not want to charge 40% on your credit card every month because this can cost you big time in the FICO points. Ideally, FICO does not want to see more than 30% in credit card utilization reported on your credit report. The best range to be is 1-9%. This will give you significant points. Keep us posted on your progress.

Re: Getting a credit card.

Anonymous — Mon, 16 Jul 2007 01:35:34 GMT

Thanks for all the information...I really appreciate it!

When using the "get a card link" at myfico, whould I use poor, fair, or good as a card finder? I want to increase my chances of getting one. I prefer not to get a pre-paid one.

Thanks!

Re: Getting a credit card.

future — Mon, 16 Jul 2007 04:16:56 GMT

annab13 wrote:
Thanks for all the information...I really appreciate it!

When using the "get a card link" at myfico, whould I use poor, fair, or good as a card finder? I want to increase my chances of getting one. I prefer not to get a pre-paid one.

Thanks!

the site you want to goto is finance globe this is a excellent site it tells you what fico score the cc is looking for, so in your case, it will show you what cards require a score of 649 .

Re: Getting a credit card.

Anonymous — Mon, 16 Jul 2007 15:49:15 GMT

Finance Globe was a great tool. The best interest rate was Capitol One wanting a score of 650...mine is 646. Should I try to get it? Is the system computerized and thus, I will get declined?

Thanks!

Ann Marie

Re: Getting a credit card.

Anonymous — Mon, 16 Jul 2007 15:59:15 GMT

Anna, those numbers are just guides. If you don't have a BK or a lot of other baddies you can apply for others also...I think your score would get you Delta sky. if you don't have BK.

Re: Getting a credit card.

Anonymous — Mon, 16 Jul 2007 18:15:36 GMT

Thanks, I have no BK's. Is Delta or Capitol One better? Other than interest rate and options....what else should I be looking at??

Ann Marie

Re: Getting a credit card.

future — Mon, 16 Jul 2007 18:20:30 GMT

annab13 wrote:
Thanks, I have no BK's. Is Delta or Capitol One better? Other than interest rate and options....what else should I be looking at??

Ann Marie

delta is better.....

Re: Getting a credit card.

Anonymous — Mon, 16 Jul 2007 18:22:31 GMT

Most look at cap 1 as a sub-prime ccc. Amex delta sky is a prime card. Many have been approved for this card with lower scores than yours.

Re: Getting a credit card.

Anonymous — Mon, 16 Jul 2007 18:28:19 GMT

I have a credit score lower than yours and I got a Delta skymiles,BLue and starwoods card in the last two months.. So I say go ahead and apply for Delta skymiles firsts and then do the BLue thing Good luck!!

Re: Getting a credit card.

Anonymous — Tue, 17 Jul 2007 05:25:49 GMT

@Anonymous wrote:
Most look at cap 1 as a sub-prime ccc. Amex delta sky is a prime card. Many have been approved for this card with lower scores than yours.

The score required to be approved is what defines a card as prime or subprime. CapOne accounts vary widely - for example, my DW's CapOne has a 25K CL and 9.90 APR, definitely prime. A minimum required FICO score of 650 would also denote a card as prime. The Amex Delta has been approved for scores in the 590s, definitely subprime.

That said, many people have been able to quickly upgrade their Amex Delta to Blue, which would be considered prime.

I wouldn't get too hung up with prime/subprime designations. Annab13 - apply for the card(s) that you think you can get approved for, with features or rates that you like, and progress from there. 650 is a score that should give you a number of options. Checking credit pull databases is a good move. If you haven't already, you could also look at http://www.whogavemecredit.com

Good luck.

Re: Getting a credit card.

Anonymous — Wed, 18 Jul 2007 13:01:56 GMT

Thanks this was a great site as well. I will look at the offers in more detail and make a decision. However, I noticed most cards have a annual fee? I have never had a card with a fee ...is the fee normal? Delta Sky Miles is about $30-*89 annual fee.

Re: Getting a credit card.

jbryant710 — Wed, 18 Jul 2007 20:24:16 GMT

They usually waive the first year's fee and after activation you can convert it to a Blue Cash with no annual fee. Good luck!

Re: Getting a credit card.

Anonymous — Tue, 02 Dec 2008 17:17:14 GMT

Update! I got a roomstore cc with a limit of $3,500 and was added to my husbands account on his Visa and my score went up to a 666. Not bad.

Thanks,

Ann Marie