Welcome to My Fico..
Honestly, you probably need to bring your score up a little.
Have you considered applying for a secured card or starting with a rebuilder?
Merrick is very good, they have a prequal site so you can check without a HP.
OpenSky is one I see mentioned around here, although I have no personal experience with them.
Good Luck to you..
@Pikaboo-icu wrote:Welcome to My Fico..
Honestly, you probably need to bring your score up a little.
Have you considered applying for a secured card or starting with a rebuilder?
Merrick is very good, they have a prequal site so you can check without a HP.
OpenSky is one I see mentioned around here, although I have no personal experience with them.
Good Luck to you..
Pika is correct, even though Retail CCs are easier to get than others you will most likely need to start with secured cards.
Ultimately, what you need to improve your FICO scores are three open credit cards (secured or unsecured) in good standing and one open installment loan in good standing such as a car, home, student, personal, share secured, or credit building loan. This combination is what the myFICO score theorists here have determined is what you need for optimal credit building and FICO score. You can have more CCs and more installment loans, however, this will not increase your FICO scores.
Next, you will need to pay in full all of your credit card balances each month, before the posting date, except one. This is called the All Zero Except One (AZEO) method. The one credit card you allow to post a balance needs to be less than 8.9% of the credit limit of the card. So using one card each month to buy lunch, letting it report and then paying in full will maximize FICO scoring.
The installment loan will have its greatest impact on your FICO score when the amount owed is at its smallest such as a few months before the loan is paid in full. If you don't have an installment loan you can check into SelfLender or a Share Secured Loan at a Credit Union.
Keep in mind, building your credit involves you demonstrating that you can handle credit responsibly. Having open, active accounts that you're paying on time is the fastest way to build your credit.
You have work to do unfortunately.... As others have mentioned your going to have to bring that score up to at least over 600 to get even a store card..And even then it's still dependent on your credit report and what's making it that low.... Maybe Fingerhut will give u a shot but even for them that's pretty low....
Secured card is your best option right now
Secured card is your best option right now
Welcome to MyFICO!
Like everyone said, secured card is the best way to help you with rebuilding.
But what's missing here is - I strongly encourage you start reading into rebuilder section here and read any and every resources to help you boost your scores. To begin, review and find out why your scores are low. For example, if you have any accounts you let go to collection, see how much you owe. If it's low, negotiate for pay-for-delete - this will help your scores tremendously. Clean up your credit report.
Cleaning up and boosting your scores will help you increase the likelihood of getting approved for credit cards or store cards.
