Best Credit Card for Bad Credit

[AverageJoesCredit]

@aduke , i agree with Ksk, to me , anyway, its best to buy something , make 3 or 4 payments then you can pay it off and repeat. In this case paying in full before statement cuts or just straight out buying doesnt seem to be the right strategy with Fingerhut. Temember they make more money off of you if you pay monthly. Thats why i like to buy some sneakers in which some of the prices arent really bad and make that my big purchase. When they gave me another cli, id buy another small item.To me a purchase up tp around $100 is realistic with them if you choose wisely, you actually can find a gem or two. I dont know if it made any difference but i did have them many years ago. If you can get get in with Navy, all the better

[Aduke1122]

Most definitely Navy fed is the way to go for rebuilding. . I'll give this a try and see if it helps me get a CLI , if not I will shut it down at 1 year .

[Meanmchine]

If you are just looking for starter accounts then Id suggest Gettington.com  They are a Fingerhut clone and give pretty nice CLs for those starting off or rebuildinng

[KSK1912]

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@Meanmchine wrote:

If you are just looking for starter accounts then Id suggest Gettington.com  They are a Fingerhut clone and give pretty nice CLs for those starting off or rebuildinng

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Both Gettington and Fingerhut use Webbank, so it may be a little hard to get a second account with Webbank. I tried it, and even with better scores than when i opened fingerhut, they denied me. So it may be a waste of HP.

[brother7]

I suggest trying for one of the best unsecured cards for rebuilders, the Capital One Platinum card.

If approved, GREAT!

If not approved, go the secured card route. My best recommendation is the Discover it Secured card. I used to recommend the Capital One Secured card, which is still a great secured card and my 2nd choice for a secured card. But now I prefer the Discover it Secured because 1) it's a cashback rewards card and 2) it may graduate at the 12-month mark.

Whichever card you get, don't apply for anything else until the 6th statement cuts for your newest card, then reevaluate your credit profile and decide on which card to app for next.

Keep repeating every 6th statement of your newest card until you build your perfect credit card portfolio.

One more thing... to maximize your chance of approval at the 6-month mark, try to get all of your cards to report zero balance except one card. For that one card, adjust your payment so that 1% utilization reports on the next statement. Then monitor Credit Karma to see when the 1% utilization gets reported to TU and EQ. After that, apply for your new card and you'll have the best chance for approval.

[Anonymous]

I'd say try for a CapOne Plat, then the secured version if you can't get that. Wait six months and then get the regular plat card. On top of that, if you're around the 600 threshold or a bit below, I'd say try for a Merrick "double your line," they are 100% better than Credit One. You used to have to get a mailer, but I saw a link for it recently. Just Google it.

I believe the Sky Blue secured card doesn't even pull your scores, if yours are that pitiful. If you're in the 400's... I'd say start there.

One word of advice, though. Never, ever, ever mess up your CapOne card. I mean, not like being late once, but just don't let it default for heaven's sake, CapOne is great for rebuilders and a nightmare for people who can't manage their credit.

[Anonymous]

Baller4life, are you a Western cu member?

[baller4life]

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@Anonymous wrote:
Baller4life, are you a Western cu member?

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I am. They are now Unify 

[Anonymous]

i have got my score to 600// I have to get it to 640 to qualify for a mortgage.. any advice for me?  I was at burke's department store and the cashier kept pressing me to apply for a card so i finally did to get 10% off and got approved. I have a first progress card that i need to get rid of. have  good job can pay credit card payments. thanks.

[Pway]

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@Anonymous wrote:

i have got my score to 600// I have to get it to 640 to qualify for a mortgage.. any advice for me?  I was at burke's department store and the cashier kept pressing me to apply for a card so i finally did to get 10% off and got approved. I have a first progress card that i need to get rid of. have  good job can pay credit card payments. thanks.

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Do you have atleast 3 lines of credit open?  If not, I would highly suggest Capital One, check out their prequal and see what offers they have for you.  Do you have any baddies, collections etc?