Which Secured Card

Bigtonyp24 · ‎12-29-2014

Good Morning,

I was wondering what i should do i applied for the capital one secured and was approved for the $200 for $200. i also can get a secured card from my local credit union. my credit union doesnt pull credit i can get it for a min deposit of $250 it doesnt unsecure and it reports as unsecured just like capital. all my scores are in the low 500's. what do you guys suggest. do i just go with capital one since i already took a hit for an inquiry.

Thanks

Anthony

TRC_WA · ‎12-29-2014

I'd probably do both... for the simple reason that getting in the door with your local CU is a good thing. I do my business with BECU and they have given me a nice CC and car loan.

Regarding your scores in the low 500's, I'd find out why (collections, CO's, etc) and do what I can do to resolve those issues.

FICO8 current as of : 4-17-24 EQ: 724 TU: 707 EX: 706
Hard INQs last 12 months: EQ: 5 | TU: 8 | EX: 9
Verizon Visa $8500 Amex Delta Reserve $10,000 Care Credit $18,000
NFCU CashRewards $7500 Apple Card $7000 Best Buy $8000 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) 6.95%
NFCU motorcycle loan (2024 Harley Davidson Road Glide - Alpine Green & Chrome) 9.45%
Total CL: $64,000 --- Total CC UTI: 27% --- AAoA: 5.5 years --- Income: $200k
Last app: 4-6-24

Bigtonyp24 · ‎12-29-2014

thank you for your help. i know why my scores are low i am working on fixing everything had lates on my student loan and a charge off, and previous bad luck. i am working on getting all my things corrected and have a bright outlook for 2015. i will do the capital one today and then in the next couple of days do the one through my credit union. thanks again