First off I would try to work on what is bringing down your score.
After you've addressed that you can start focusing on your current accounts and letting them grow.
I started with a First Progress Secured (I don't really recommend that but they DO report to all 3 bureaus) and Cap 1 Platinum at a $300 SL.
My Cap 1 went up steadily through auto CLI's and me requesting them. It was eventually converted to a Quick Silver with 1.5% cash back and now sits at a $7,500 CL.
A secured installment loan is another good idea to establish some favorable payment history and start aging your accounts etc.
I would say give Cap 1 a shot and get your foot in the door. I now have many cards with good CLs and several with lower than average APR's. It all really started with Cap 1.
Any reason why you aren't considering just grabbing a couple of secured cards (Capital One, Discover) and then simply unsecuring them after 6 months of responsible credit behavior?
- I think it is important to know a general number for all of your scores. Being that each company is going to pull from a differnt reporting agency, the 612 might not be used for some of the card issuers. If this is all that you know, and assuming that the card issuer that you select pulls this number, there are a few cards that you would be able to get that would most likely approve you.
Credit One Bank - As others have said, they will provide a low credit limit
Capital One - You could possibly get approved for the Platinum MasterCard or the Quicksilver One card. Each would give you a low balance to start off
Keep in mind that all of the credit cards that are geared towards rebuilding credit are going to have lots of fees and high interest. Make sure to ONLY use them to build your credit, and do not carry a balance. Lastly, not to be negative, but you also want to work on getting the utilization down. The score could be worthy of getting approved, but most banks are not going to extend credit to you if you are almost maxed out. Just something to think about.
If you have IBR that is $0 then you likely have very low income. With the addition of keeping large balances you are likely to have troublegetting approved for much. As other stated the Capital One Platinum might approve you, you could drop to the secured if you have trouble, they might approve you for the $49 deposit and $200 CL.
The first thing you need to do is eliminate your CC debt, if you are having trouble paying it off then it is either too much for your income and likely killing your D2I or your just plain over extended and need to cut costs.
stay away from store cards you dont need
stay away from predator cards
check prequal with Cap One, Merrick, and Discover.
solid prequals with solid banks.
make sure you pay every card EARLY.
time will help your score as long as your bad gets older and your good is all that is added.
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!10% Rotating - Discover 5%-20% - Amazon & Lowes 6% Groceries - Amex Preferred (DW)