topic Re: Where to Start? Store Card or Secured Credit Card? in Rebuilding Your Credit

Where to Start? Store Card or Secured Credit Card?

Anonymous — Wed, 13 May 2015 20:41:43 GMT

Checked my reports i only have 2 Cap1 cards one was from Orchard Bank with a 300 limit and one was a Secured 500 limit increased to 800. Everything else is student loans during 2013 they were behind 60-120 and cap1 accounts fell behind 90-120 days but kept the accounts open and still on my file. Have had current payments on both for 12 months straight added acouple of my wifes cards to my account as an AU scored has increased 80 points and 30 points. But im aware i need my own credit files where do i start? Thanks

Re: Where to Start? Store Card or Secured Credit Card?

gdale6 — Wed, 13 May 2015 21:41:42 GMT

@Anonymous wrote:
Checked my reports i only have 2 Cap1 cards one was from Orchard Bank with a 300 limit and one was a Secured 500 limit increased to 800. Everything else is student loans during 2013 they were behind 60-120 and cap1 accounts fell behind 90-120 days but kept the accounts open and still on my file. Have had current payments on both for 12 months straight added acouple of my wifes cards to my account as an AU scored has increased 80 points and 30 points. But im aware i need my own credit files where do i start? Thanks

I would try to get the Barclays Rewards MC, its a rebuilding card, ypu can also try to get a store card via the Shopping Cart Trick with Comenity bank backed cards. Welcome to My Fico

For specific card recomendations you can post in the CC forum for assistance.

Re: Where to Start? Store Card or Secured Credit Card?

Anonymous — Wed, 13 May 2015 23:17:44 GMT

Capital one Quicksilver one and Platnum are fairly easy to get. Just go to the preapproval site and check out if you have any offers. I also have 2 secured cards that I have had no problems with. OPEN SKY and MERRICK BANK SECURED. Open sky does not run a credit check either. Both have reported monthly. I also got the JCREW card via the shopping cart trick and that started reporting also. No hard pull. I would try for them.

Re: Where to Start? Store Card or Secured Credit Card?

Anonymous — Thu, 14 May 2015 16:36:09 GMT

THanks I will try both! And update with results

Re: Where to Start? Store Card or Secured Credit Card?

Anonymous — Fri, 15 May 2015 01:16:28 GMT

Just got approved for Cap1 VentureOne card 3k Limit! well needed for my journey!

Re: Where to Start? Store Card or Secured Credit Card?

Anonymous — Fri, 15 May 2015 11:57:19 GMT

You currently have good scores. With those you should be able to get some decent cards, as shown with the Venture Card and limit. So why are you even keeping such low, secured cards? They are really of no benefit unless youve had them for a long time. If they are fairly new, I would close them after 1 year and move on. BY then your scores will be higher and you could even apply for a CHASE Freedom card. And with store card's interest rate, you are better off using credit cards for those purchases, unless they have perks combined with usage.

Re: Where to Start? Store Card or Secured Credit Card?

Anonymous — Fri, 15 May 2015 13:40:55 GMT

both secured cards turned unsecured with cap1 they have small limits 300-800 but ive had them since 08 and 11 this my first and highest limit card. If i close based on my research here it will hurt my AAoA.

Re: Where to Start? Store Card or Secured Credit Card?

gdale6 — Fri, 15 May 2015 18:39:30 GMT

@Anonymous wrote:
both secured cards turned unsecured with cap1 they have small limits 300-800 but ive had them since 08 and 11 this my first and highest limit card. If i close based on my research here it will hurt my AAoA.

AAoA is not affected for 10 years post close this is how long then can remain after being closed.