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My credit is bad and limited. I'm a student, and most of my accounts are no more than 3-4 years old. They are all student loans. One is deffered, and the rest are in good standing. I've had a few medical bills go into collections all from 3-4 years ago, and that is pretty much everything on credit report. My score is 527! Ouch! Is there any good credit cards out there for people like me?
yeah round 200 but that's about it
@tooyoungforbadcredit wrote:yeah round 200 but that's about it
There is a secured card that will allow you to deposit only 49/99 dollars to get a $200 limit. I believe it's the capital one secured, it does however have an annual fee ($39 i think) and a pretty high APR, somewhere in the low to mid 20s.
Best of luck.
if your able to come up with 200 for now you could open a cap one secured card with a 200 limit.
I would recommend the Bank of America Secured card. The problem is that you'd have to come up with another $100 because I think the minimum deposit on the card is 300. The good thing is that they'll return the deposit and unsecure your card in a year.
Doesn't really matter what the limit is now. Having the cards are enough. The big thing is to start building positive history for when your negatives fall off, you will be good. Positive history is half of rebuilding credit. I would take only half of what you have. Do a 800 and 200 card. Add to the 800 dollar card. Unless you can spare the whole 2k, then do a 250 and 1750. The reason is to show a higher TL so your unsecured cards (when you qualify for them) will be higher limits.
Yeah, I don't really care about credit limits. I'm just in need of a score boost by grad school which is 3 - 3.5 years. All of my derogatory collections accounts should fall off by then, but I need to have good credit in case I need to borrow private student loans in case I get accepted into a good school. Although one collection account is trying to say the account was first reported in 2011, but I checked my score every year for since that account went bad. It's been on there since 2008. Anyways I don't have the money to pay off the student loans right now, so credit cards are pretty much my only options to build credit.
@altayar wrote:I would recommend the Bank of America Secured card. The problem is that you'd have to come up with another $100 because I think the minimum deposit on the card is 300. The good thing is that they'll return the deposit and unsecure your card in a year.
i doubt the op would get approved for bofa secured. their card is more for building than rebuilding
I got approved for a subprime unsecured card, and I am waiting on decision from capital one for their secured card. I got approved for a matrix secured card, but I declined that offer. I'm trying not to have any more inquiries unless I'm aboslutely certain that it is going to work out. I know applied bank secured cards don't check your credit score, but they do report to credit bureaus. Any suggestions about them?