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Hi,
This is my first post. I have to 2 Secured CCs
-OpenSky - $1k
-Capital One- $500
Credit Builders
-Cred Ai - $1500
-Self - $500
I currently bank with First Tech ( I heard I should switch to PenFed lmk). I'm looking to start building unsecured credit with high limits please give me your best advice
@Anonymous wrote:Hi,
This is my first post. I have to 2 Secured CCs
-OpenSky - $1k
-Capital One- $500
Credit Builders
-Cred Ai - $1500
-Self - $500
I currently bank with First Tech ( I heard I should switch to PenFed lmk). I'm looking to start building unsecured credit with high limits please give me your best advice
With a 600 score you not going to get high limits and may not get unsecured cards at this point with your current line up . What is your profile like? What negatives do you have ?
I have removed all my negative reporting accounts. I figured I'm not going to start getting approved just looking for the next best step. My score was being tanked by student loans.
@Jnbmom wrote:
@Anonymous wrote:Hi,
This is my first post. I have to 2 Secured CCs
-OpenSky - $1k
-Capital One- $500
Credit Builders
-Cred Ai - $1500
-Self - $500
I currently bank with First Tech ( I heard I should switch to PenFed lmk). I'm looking to start building unsecured credit with high limits please give me your best advice
With a 600 score you not going to get high limits and may not get unsecured cards at this point with your current line up . What is your profile like? What negatives do you have ?
ETA: I need my seeing eye children.... I read this as a question about best SECURED cards. I apologize for th3 confusion and not answering the real question you asked!
Good secured cards in order of best to worse in my humble opinion:
I'm not really looking to add more secured debt. If you think it's better to be patient? I should be around 630-650 in more 1-2 months.
@Anonymous wrote:I'm not really looking to add more secured debt. If you think it's better to be patient? I should be around 630-650 in more 1-2 months.
With a clean file, low utilization, and assuming the amount of new credit and inquiries are in check, data points suggest you might be a good candidate for an unsecured Discover or even Amex (co-branded) card.
I would still look into establishing a relationship with Penfed, SDFCU, or Navy if you have an in. Even if not eligible for approval now, starting to build a history will put you in a position to get thei credit products in 3-6 months.
@Anonymous wrote:Hi,
This is my first post. I have to 2 Secured CCs
-OpenSky - $1k
-Capital One- $500
Credit Builders
-Cred Ai - $1500
-Self - $500
I currently bank with First Tech ( I heard I should switch to PenFed lmk). I'm looking to start building unsecured credit with high limits please give me your best advice
You can try Blaze MasterCard. After 1 year they waive annual fee. Every 6 months the give CLI. I have that card for a year and happy with it. Got 2 CLI's on it. Some of the posters here got limits upto $5K. Check it out.
I currently bank with First Tech but I heard they mainly cater to people with higher p&Ls than me as far as credit goes. What the difference with Penfed?
@Anonymous wrote:I currently bank with First Tech but I heard they mainly cater to people with higher p&Ls than me as far as credit goes. What the difference with Penfed?
Penfed is a much larger CU and they have aggressively been trying to grow even more during the pandemic at a time when most lenders were scaling WAAAAY back.
Being larger, Penfed can afford to take more risk than a smaller CU like First Tech. Penfed used to be very conservative. However, over the last year, they have been more welcoming (open membership, generous limits for people with blemishes in their credit history).
I know they like a certain type of profile (sadly, mine isn't their "type").
Perhaps others can chime in. There is also Penfed megathread that you can search for (start from the end -- most recent -- and work back to get a sense of what is being approved.
Good luck.
If you have a pulse fingerhut will approve you. granted they price their items a bit high but on the flip side my sl was 500 and in 9 months its now 2600, and they report to all 3 bureaus.