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Best Credit Card for Bad Credit

Community Leader
Super Contributor

Re: Best Credit Card for Bad Credit

@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 betterSmiley Happy
OCTOBER 26 2020
Message 11 of 21
Senior Contributor

Re: Best Credit Card for Bad Credit

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 .
Message 12 of 21
Valued Contributor

Re: Best Credit Card for Bad Credit

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




3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>11/2018 CCT EX 801 TU 818 EQ 810
You are only young once, but you can be immature forever
Message 13 of 21
Valued Contributor

Re: Best Credit Card for Bad Credit


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


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.


6/14/15: Equifax 576 Experian 542 Transunion 571
8/17/15: Equifax 626 Experian 619 Transunion 622
9/28/15: Equifax 655 Experian 636 Transunion 641
11/11/15: Equifax 698 Experian 687 Transunion 672
Short Term Goal Score: 720 Across the board


Take the myFICO Fitness Challenge


Are you free Tuesday..?
Message 14 of 21
Frequent Contributor

Re: Best Credit Card for Bad Credit

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.



05/31/2018 - EX 839 (Credit Scorecard EX FICO® Score 8, range 300-850)
05/20/2018 - TU 840 (Discover TU FICO® Score 8, range 300-850)
05/22/2018 - EQ 856 (Citi EQ FICO® Bankcard Score 8, range 250-900)
GOAL - 800! - App free since 11/22/2017
Message 15 of 21
Contributor

Re: Best Credit Card for Bad Credit

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.

Starting: EQ - 562, TU - 556, EX - 527
Current: EQ - 663, TU - 623, EX - 634
Goal 2017: All 660+



Garden Status: Gold
Message 16 of 21
Valued Contributor

Re: Best Credit Card for Bad Credit

Baller4life, are you a Western cu member?
Open one, close three. Open one, close three.
Message 17 of 21
Super Contributor

Re: Best Credit Card for Bad Credit


fordguy89 wrote:
Baller4life, are you a Western cu member?

I am. They are now Unify 

Message 18 of 21
New Visitor

Re: Best Credit Card for Bad Credit

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.

Message 19 of 21
Valued Contributor

Re: Best Credit Card for Bad Credit


morningwolf 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.


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?

Barclay Reward MC 750|Cabela's 1k|Capital One QS1 3.4k|
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Message 20 of 21