Adding another card

[Swiftd03]

OK, question for the masses. I currently have an unsecured Cap One card $1,500 limit. Current on everything but older stuff still bringing my score down, coming in at 598 FAKO-CK and 566 FICO (Experian) until this old stuff starts falling off in May and a couple of fraudulent accounts get removed again. What I am wondering is since I need to add a card just to get tradelines up and my banking is all with BOA should I bother apping up there or is that a dead end with a 566-598 score? Should I just wait until these other accounts fall off in 2 months? Or go back with a second Cap One account?

Thanks for the advice in advance.

[Countingpennies]

I've banked with BoA for years, and they denied me for an unsecured (I haven't tried for secured with them, I thought I'd wait a few months.) So, I think being a banking customer with them only goes so far.
I think you have to get your scores up before moving into prime-card land. You might try some of the Comenity Bank cards, Victoria's Secret, Express, etc. do a search here for - shopping cart. There are a number of threads on trying for these cards with only a soft pull.

[phoenix_one]

Score is too low for prime cards.

Concentrate on getting derogatory items eliminated from your Credit Reports, if possible, because that will be the quickest way to increase your score. Sharpen your Good Will letter writing skills.

Wait until bad info falls off in May before anything else verify your score before applying. Make the inquiry count.

598 is just too low, wait past May and hopefully your score will go up.

[HiLine]

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@Countingpennies wrote:
I've banked with BoA for years, and they denied me for an unsecured (I haven't tried for secured with them, I thought I'd wait a few months.) So, I think being a banking customer with them only goes so far.
I think you have to get your scores up before moving into prime-card land. You might try some of the Comenity Bank cards, Victoria's Secret, Express, etc. do a search here for - shopping cart. There are a number of threads on trying for these cards with only a soft pull.

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Do you have at least 10k in assets with BofA?

[myjourney]

BofA secured card for a year would be a better option with your scores while you work on and wait for baddies to be removed

[Swiftd03]

No, definetly not $10K in assets. That is what I was thinking, getting the secured card and then getting switched to the rewards card after a year. Most all of the baddies will be off by then and the only ones left would be paid medical collections if everything works out well. Just wondering if I should even try for the unsecured. If it is possible for me to get a rewards card from Cap One vs. a BOA secured I think the rewards card would be better now but BOA would be better for the future.

[HiLine]

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@Swiftd03 wrote:

No, definetly not $10K in assets. That is what I was thinking, getting the secured card and then getting switched to the rewards card after a year. Most all of the baddies will be off by then and the only ones left would be paid medical collections if everything works out well. Just wondering if I should even try for the unsecured. If it is possible for me to get a rewards card from Cap One vs. a BOA secured I think the rewards card would be better now but BOA would be better for the future.

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If you can somehow bring your balance with BofA to over 10k that would significantly improve your chances for either a non-secured or secured card. I believe that if you do not get approved for a non-secured card they would offer you a secured card using the same hard pull. And you can request that your secured card offer rewards as well - no need to wait for a year.  

[myjourney]

OP you do not need $10,000 to get a secured card from anyone!!!!!!!!!!!!!!!!! Start small and build up your deposit over time

[Anonymous]

How long have you had the Cap1 card? Garden it for a year and then apply for their Cash Rewards card or a Best Buy card. They might approve you for a Best Buy card now but it will most likely only be for $300-$500. If you are okay with that, then you could try them.