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Why can't you have a future with Cap One?
I started with Cap One 4 years ago with a single $3,000 card.
YMMV.
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
@Anonymous wrote:
Could also use some help choosing a third secured, would like to choose somewhere I'll actually have a future with, so Capital One is out for me. Citi Secured, Bank Americard Secured, and US Bank Secured are what I'm looking at, but I have read a fair number of horror stories about graduation/CLIs/PCs for all 3 of them and I'm not sure where to go.
Welcome to the forums!
I read your post and I'm going to say let's stop right there. There's no need to load up the report right now. I started with Disco secured. Used it a ton (Many mid-cycle payments to keep uti under 30% and then brought it down to $3 before the statement cut, i.e., when Disco reports to the CRA's). My first FICO scores were North of 700. I graduated with statement 7 on the dot and get a great auto-CLI.
Building credit to work for you is a marathon, not a sprint. My siggy has taken about two years to build up, but it's always moving along. There's no need to do three cards and an SSL right now. I would recommend opening savings with NFCU and building that relationship, because -- depending on your income of course -- that's a good bet for a high SL.
Also, AZEO only really matters to squeeze out the last few points in your score. Creditors know how much you're putting on the cards in the case of CLI's, and your SL is (generally) based on your score, income, and relationship with the bank.
Best of luck OP!
@Anonymous wrote:
@Anonymous wrote:
Could also use some help choosing a third secured, would like to choose somewhere I'll actually have a future with, so Capital One is out for me. Citi Secured, Bank Americard Secured, and US Bank Secured are what I'm looking at, but I have read a fair number of horror stories about graduation/CLIs/PCs for all 3 of them and I'm not sure where to go.Welcome to the forums!
I read your post and I'm going to say let's stop right there. There's no need to load up the report right now. I started with Disco secured. Used it a ton (Many mid-cycle payments to keep uti under 30% and then brought it down to $3 before the statement cut, i.e., when Disco reports to the CRA's). My first FICO scores were North of 700. I graduated with statement 7 on the dot and get a great auto-CLI.
Building credit to work for you is a marathon, not a sprint. My siggy has taken about two years to build up, but it's always moving along. There's no need to do three cards and an SSL right now. I would recommend opening savings with NFCU and building that relationship, because -- depending on your income of course -- that's a good bet for a high SL.
Also, AZEO only really matters to squeeze out the last few points in your score. Creditors know how much you're putting on the cards in the case of CLI's, and your SL is (generally) based on your score, income, and relationship with the bank.
Best of luck Op
great advice Grasshoper, its great to see the student has become the Master
#RealLiveBoy
OP - I have never had a secured card in my life and I had a BK.
I would keep checking prequals from Discover, Cap One, and Merrick.
I doubled my decent SL with Discover within 6-8 months. They can be very generous.
GL!
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!