Congrats on the second chance. Now you know how to handle credit and theres no where to go but up the credit ladder to bigger and better things in the future!
@Anonymous wrote:
These 2 cards are a big step to rebuilding.
Congrats on your climb out of the hole; my former homeCongrats on getting two rungs put in your ladder, that's two steps up already!
Congrats OP on your impressive approval!!!
I my self was just approved for this bad boy yesterday! Gonna order dominoes when it gets here! have u looked into First premier! I got that as well! Im sure with your scores similar to mine youd knock that out of the ball park to then you can hang out with us in the garden for a year!
@Anonymous wrote:
TU:540
Equifax: 530
Current accounts:
Citi secured -$300
Auto loan -$19k
Authorized user:
Discover
Mercury formerly Barclay
Chase
5 closed/charged off accounts
6 collections
So I’ve just recently started rebuilding my credit. About a month ago I was approved for a citi secured card. A week or two after that I was going thru my emails and I saw an email from credit one. It said we invite you back and to check if I would be approved. I really didn’t think I would be approved seeing as my credit score is still pretty low and one of the closed accounts and collection on my credit report is for credit one. I guess I was feeling lucky and said hmph they’re inviting me it’s not like I asked. Right away after applying it says I’ve been approved for $300 pending final verification of your information and identity. I was really surprised. This must be a mistake. When I scrolled down it showed me my credit score and it said my score was 629 and the source was experian. I was like wait how? I even checked my score thru experian and they showed like a low 500. So the whole time I’m thinking ok credit one made a mistake and they will probably send me a denial letter. I applied for that May 9th and after I applied I didn’t get any emails no confirmation of applying nothing. May 16th I received an email that says your card has shipped.
I know credit one cards aren’t good but I’m just so glad I’m getting a second chance to show them that I’m responsible now.
I was getting denied for secured cards before. Now I have a secured card and a credit card. These 2 cards are a big step to rebuilding.
Things are finally looking better Don’t give up because sometimes u get lucky and u get a second chance
Congrats on your new opportunities to get yourself back in the game!!! Now a suggestion I have from recent experience is to possibly become an AU on someones card with a long, good history and to not get anymore cards for a year. I had my scores in the upper 500's in the middle of 2017 and now just stepped into the 800 club! In 10/17 I became an AU on a friends Home Depot card CL $5000 and in 02/18 I got a Walmart store card SL $200 and CreditOne Platinum SL $300. After about 4-5 months the CreditOne card went to $450. I would just buy lunch a couple times a week on the card and pay it off sometimes before the statement cut and sometimes after, so a small balance would report and then pay it off immediately or at least before the due date. I did this for a year and in 02/19 I applied for a Discover card getting a SL $4000 and then an AMEX Blue Cash Everyday SL $1000. I then canceled the CreditOne before the annual fee and removed myself from the Home Depot. I did the same spending process with the Walmart and AMEX and while putting larger amounts on the Discover, while still paying them off or letting a small balance report. I got a CLI for Walmart to $1000, AMEX to $2000 and Discover to $8000. I even recently got another card, the Chase Disney SL $7900 (back in the garden now, I think).
I am in no way bragging (maybe a little ) and I am definitely appreciative of this forum and the people that have posted before and are currently here!!! Sorry so long-winded, but I have read so many post were people apply for 5+ crappy cards and later find it hurts there credit profile when they attempt to graduate to the next level, because lenders don't offer them much because they have so many starter cards than good ones and when they try and close the cards there age of history gets dinged score wise as well (sort of a catch 22). IMO it doesn't take a lot to get back on track in the beginning. The hardest thing to have is patience, at least one installment and eventually work your way up to three cards. There will be lots of great advise to come from the very knowledgeable members here, so again be patient and congratulations on your rebuild! Good luck!!! 
“Most people work just hard enough not to get fired and get paid just enough not to quit.”
Congrats . One step at a time
@Rmullens2208 wrote:Congrats OP on your impressive approval!!!
I my self was just approved for this bad boy yesterday! Gonna order dominoes when it gets here! have u looked into First premier! I got that as well! Im sure with your scores similar to mine youd knock that out of the ball park to then you can hang out with us in the garden for a year!
@Anonymous wrote:
TU:540
Equifax: 530
Current accounts:
Citi secured -$300
Auto loan -$19k
Authorized user:
Discover
Mercury formerly Barclay
Chase
5 closed/charged off accounts
6 collections
So I’ve just recently started rebuilding my credit. About a month ago I was approved for a citi secured card. A week or two after that I was going thru my emails and I saw an email from credit one. It said we invite you back and to check if I would be approved. I really didn’t think I would be approved seeing as my credit score is still pretty low and one of the closed accounts and collection on my credit report is for credit one. I guess I was feeling lucky and said hmph they’re inviting me it’s not like I asked. Right away after applying it says I’ve been approved for $300 pending final verification of your information and identity. I was really surprised. This must be a mistake. When I scrolled down it showed me my credit score and it said my score was 629 and the source was experian. I was like wait how? I even checked my score thru experian and they showed like a low 500. So the whole time I’m thinking ok credit one made a mistake and they will probably send me a denial letter. I applied for that May 9th and after I applied I didn’t get any emails no confirmation of applying nothing. May 16th I received an email that says your card has shipped.
I know credit one cards aren’t good but I’m just so glad I’m getting a second chance to show them that I’m responsible now.
I was getting denied for secured cards before. Now I have a secured card and a credit card. These 2 cards are a big step to rebuilding.
Things are finally looking better Don’t give up because sometimes u get lucky and u get a second chance
The op got a credit one... there is no need for another bottom feeder predatory card...
Maybe try for a secured discover after some time... esp with the previously mentioned secured card approval.
-J
First off, congrats on the approval and getting back in the game!
As others have said, do your best to limit how many "predatory" lenders you get cards from. The fees can add up in a hurry and unsuspectedly! Secured cards may require an upfront deposit, but you will get that deposit back in time with responsible use. With the predatory cards, you'll pay all that money in fees that you could've used for a secured card deposit. The fees will not come back to you like the deposit will. If you must use one of the predatory lenders, I'd recommend Merrick Bank as one of the better options as far as fees and customer service.
Your scores are optimized with 3 cards, which is helped by the AU cards (as long as they are kept under control as well.) so really no point in getting any more cards at this point. Use your existing cards responsibly and do some work on getting the collections and other derogatories paid and/or removed. You're on the right track
Exactly!!!