Not sure which to pick

[Anonymous]

I already have Discover IT secured card. I had applied last month for the Capital One secured card. I was approved for $49 deposit but when I was comparing it with my Discover, the browser refreshed for some stupid reason and wasn't able to complete it. Someone told me not to reapply for another credit check. I tried to call Capital One and for some reason the application department has been closed for weeks. So I went and got the OpenSky credit card so I didn't have to do another credit check, still waiting for it in the mail. I checked to see if Cap1 would accept calls again and they are. The whole point is should I not worry about the Cap1 card since I have OpenSky or get both or try for Cap1 again and ditch OpenSky?

[Girlzilla88]

@Anonymous    If you can get the Cap1 I would ditch the OpenSky ASAP (no offense to them) 

[Anonymous]

@Girlzilla88 Why is that? I wonder if it's the same reason I was having that thought also.

[Girlzilla88]

@Anonymous     They are just not as good as Cap1 more or so like 'bottom feeders' if you will and can possibly hurt with other offers if they see Credit One, or Open Sky type information if you want I'm sure there are some forums here in regards to OpenSky and you can read up on it 

[Remedios]

I disagree. Open Sky is rebuilder card, and while there is nothing special about it, it's not a fee harvester.

It does what its supposed to do, without three HPs. 

It doesn't graduate, but neither does Cap One.

It doesn't "grow", but neither does Cap One.

The only way to get your money back from both is by closing the account. 

Open Sky has lower APR than Cap One. 

Having a Cap one secured card does nothing for future Cap One applications. 

If you are rebuilding,  you will hear you need three cards. You dont. 

Scoring wise you might not gain couple of points, but there is plenty of time for that later.

If you have no credit history, last thing you want is to start raking HPs.

You have 2 cards. Use them, pay them, build some positive history. 

Dont weigh yourself with the secured cards, then get denials later for credit seeking. 

In about six to nine months, you can reevaluate and perhaps by that time, you'll be in position to apply for unsecured card. 

Lack of patience has ruined many rebuilding/building efforts.

Do not contribute to that statistic. 

[Anonymous]

---

@Remedios wrote:

I disagree. Open Sky is rebuilder card, and while there is nothing special about it, it's not a fee harvester.

It does what its supposed to do, without three HPs. 

It doesn't graduate, but neither does Cap One.

It doesn't "grow", but neither does Cap One.

The only way to get your money back from both is by closing the account. 

Open Sky has lower APR than Cap One. 

Having a Cap one secured card does nothing for future Cap One applications. 

If you are rebuilding,  you will hear you need three cards. You dont. 

Scoring wise you might not gain couple of points, but there is plenty of time for that later.

If you have no credit history, last thing you want is to start raking HPs.

You have 2 cards. Use them, pay them, build some positive history. 

Dont weigh yourself with the secured cards, then get denials later for credit seeking. 

In about six to nine months, you can reevaluate and perhaps by that time, you'll be in position to apply for unsecured card. 

Lack of patience has ruined many rebuilding/building efforts.

Do not contribute to that statistic. 

---

I thought the Cap1 secured card graduated, at least that's what I've read about. Those 3 HP that Cap1 did was what made me debate on getting it since I already had the HP, why waste it? I'm okay with the not growing as they are just secured cards until I can get my credit up and get unsecured ones.

I already have a few HPs right now. But not too many.

I currently do not have any credit history except for a VantageScore of TU: 669 EQ: 615 EX: 671. But Vantage doesn't really mean anything. I have 3 more months for my Fico score to appear. I got into worrying about my credit too late.

Right now all I have is the Discover, OpenSky (waiting in the mail), and a Self Lender thing.

[Meanmchine]

You can try apping for the Blaze MC.  Its a $75 AF non-secured card designed for

new / rebuilding customers.  No rewards but it does grow and after a year you can get the AF waived. 

Good luck

[Remedios]

---

@Anonymous wrote:

---

@Remedios wrote:

I disagree. Open Sky is rebuilder card, and while there is nothing special about it, it's not a fee harvester.

It does what its supposed to do, without three HPs. 

It doesn't graduate, but neither does Cap One.

It doesn't "grow", but neither does Cap One.

The only way to get your money back from both is by closing the account. 

Open Sky has lower APR than Cap One. 

Having a Cap one secured card does nothing for future Cap One applications. 

If you are rebuilding,  you will hear you need three cards. You dont. 

Scoring wise you might not gain couple of points, but there is plenty of time for that later.

If you have no credit history, last thing you want is to start raking HPs.

You have 2 cards. Use them, pay them, build some positive history. 

Dont weigh yourself with the secured cards, then get denials later for credit seeking. 

In about six to nine months, you can reevaluate and perhaps by that time, you'll be in position to apply for unsecured card. 

Lack of patience has ruined many rebuilding/building efforts.

Do not contribute to that statistic. 

---

I thought the Cap1 secured card graduated, at least that's what I've read about. Those 3 HP that Cap1 did was what made me debate on getting it since I already had the HP, why waste it? I'm okay with the not growing as they are just secured cards until I can get my credit up and get unsecured ones.

I already have a few HPs right now. But not too many.

I currently do not have any credit history except for a VantageScore of TU: 669 EQ: 615 EX: 671. But Vantage doesn't really mean anything. I have 3 more months for my Fico score to appear. I got into worrying about my credit too late.

Right now all I have is the Discover, OpenSky (waiting in the mail), and a Self Lender thing.

---

Cap one stopped graduating cards over two years ago. 

If you have no history, you have no negatives to worry about later.

Once your oldest card reaches a year, you will have many options, but those options will disappear if you add a bunch of accounts now. 

You have two cards and a loan. You're in a good place for someone who is just starting. You need time, not more cards. 

[Anonymous]

Will do. I'm glad I asked for the advice. Thank you.

[Girlzilla88]

My DH got a Cap1 card that was able to be upgraded within the last year so I'm not sure what they mean by they don't graduate anymore?!    He made his payments on time for 5 months and PU to a Platinum with the basic card he started?!     Do I have that wrong?