Easy cards to get with bad credit

[ramor]

I thought this would help someone out there trying to re-build their credit.

I first applied for a Capital One with a score of 532 and I was denied. They use ALL 3 bureau's to run credit so I had an inquiry on all 3 reports, so I wrote them and asked if I could send in a deposit of my own and approve me......sounds silly but I was desperate! they approved me and I sent in $200 and they report each month, so that inquire was worth it.

that same month I applied for a First Premier and was approved with a $300 limit (I had to pay a $75 fee upfront) they only use EQUIFAX to run credit

6 months later I applied for a Wal-Mart card since alot of people were claiming it was "easy" to get but I was "denied" with a score of 622. Wal-Mart goes thru "GECRB" and they use TRANS UNION to run a credit check so I wanted to STAY away from any credit companies that went thru "GECRB" to avoid another credit inquiry and getting denied again.

I didn't want a lot of credit inquires on one report so I searched for cards cards that used EXPERIAN since I already had an inquiry on the other 2.

I came across "Credit One" they run credit thru EXPERIAN and I was approved for a $400 limit with a score of 622. I received the card within 7 days and it was already reported to EXPERIAN as a good account before I even used it and my score went up.

all these credit cards do report to all 3 bureaus but they do not run credit thru all 3.

First Premeir: EQUIFAX

Wal-Mart/GECRB: TRANSUNION

Credit One: EXPERIAN

Capital One: ALL 3

added 5/12/2014: I was approved for fingerhut today $700. They use Experian and TransUnion to run credit (I checked my credit reports online)

[bettercreditguy1]

Congradulations on your cards. Pay them in full each month if possible and try not to charge over 30% of the available limit per card each month. This will help to minimize wide variances in your score from this issue. Good luck in your rebuilding.

[eagle2013]

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@bettercreditguy1 wrote:

Congradulations on your cards. Pay them in full each month if possible and try not to charge over 30% of the available limit per card each month. This will help to minimize wide variances in your score from this issue. Good luck in your rebuilding.

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+1. You have a terrific start with all three reporting to the CBs.

[H4LO]

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@ramor wrote:

I thought this would help someone out there trying to re-build their credit.

I first applied for a Capital One with a score of 532 and I was denied. They use ALL 3 bureau's to run credit so I had an inquiry on all 3 reports, so I wrote them and asked if I could send in a deposit of my own and approve me......sounds silly but I was desperate! they approved me and I sent in $200 and they report each month, so that inquire was worth it.

that same month I applied for a First Premier and was approved with a $300 limit (I had to pay a $75 fee upfront) they only use EQUIFAX to run credit

6 months later I applied for a Wal-Mart card since alot of people were claiming it was "easy" to get but I was "denied" with a score of 622. Wal-Mart goes thru "GECRB" and they use TRANS UNION to run a credit check so I wanted to STAY away from any credit companies that went thru "GECRB" to avoid another credit inquiry or getting denied again.

I didn't want a lot of credit inquires on one report so I searched for cards cards that used EXPERIAN since I already had an inquiry on the other 2.

I came across "Credit One" they run credit thru EXPERIAN and I was approved for a $400 limit with a score of 622. I received the card within 7 days and it was already reported to EXPERIAN as a good account and my score went up.

all these credit cards do report to all 3 bureaus but they do not run credit thru all 3.

First Premeir: EQUIFAX

Wal-Mart/GECRB: TRANSUNION

Credit One: EXPERIAN

Capital One: ALL 3

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SDFCU has a Secured Card that takes no HP. If you're able to tie up some more $$ then I think it'd be worth it to help pad the portfolio. 

[ramor]

Thanks for the advice.

[ramor]

Thank you, I'll look into it.

[ramor]

I almost forgot to mention, I have paid them in full and it did make my score go up. But I have found that if I charge and pay $25 or so more than the min. it makes my score go up more each month. Because if i'm paying them in full each month my score goes no where.....it took time to notice this but it works best for me.

[mongstradamus]

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@ramor wrote:

I almost forgot to mention, I have paid them in full and it did make my score go up. But I have found that if I charge and pay $25 or so more than the min. it makes my score go up more each month. Because if i'm paying them in full each month my score goes no where.....it took time to notice this but it works best for me.

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Paying in full shows no utilization which is bad for fico scoring. If you leave 25 or whatever small amount it shows utilization , you want to keep utilization between 1-9% of your CL for optimal scoring. 

[meehan22]

Congrats! 
Remember to keep improving and as soon as you can close out FP and Credit One when better credit comes available.  

[ramor]

true, and that is what I have been doing. I also just aplied for a fingerhut today since they sent me an offer and I was approved for $700 and they used Experian to pull my credit (I checked right after).