How to proceed please

[Anonymous]

I have been working on repairing my credit for the last year and a half now. I have been successful with getting a charge off removed and also some collections.  My main problem right now is old debt that I know I have.  My current Equifax score is 609, Experian 617, and Transunion 579.  I am working on getting one other charge off removed from my credit report from Capital One.  It has since been paid in full.  I have no credit cards right now, but do have student loans that I have been paying on and will not miss a payment with.  The question I pose is my score good enough right now to apply for some credit cards?  I now have a good job and have been in the same place going on 4 years now as well as my residence.  Also I know coming within the next year or so I am going to need a new car loan, and have to prepare for that.  Any help or suggestions is much appreciated. 

[SCF]

Hey taste,

I think with your scores the best route to go right now may be a secured card.  Why don't you head over to the BoA site and try their pre-selector for CCs?  It's a soft pull and will give you some idea of what you might qualify for.  HSBC also has a similar site.

Finally, you can poke around whogavemecredit.com to see what types of cards people with your scores are getting.

Hope that helps!

[mamalawery]

boa secured in good, also try cap 1. good luck!

[Anonymous]

Try for bofa 99/500, have to apply for a regular card, might get it counter offered. Also try Cap 1, HSBC, both have pre qual sites.  Try your local CU, or NFCU if you are eligible to join.

[Anonymous]

Thank you for all of that information. So do you think the credit union would be the first place I should try.  I am elgible to join Navy Federal Credit Union. 

[score_building]

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@Anonymous wrote:
Thank you for all of that information. So do you think the credit union would be the first place I should try.  I am elgible to join Navy Federal Credit Union. 

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YES!  you'll be off to a really great start with NFCU...imho, boa is also a  top pick given your current info.

[Anonymous]

Well I am now a member of Navy Federal Credit Union.  How long should I wait before trying to use any of their services such as credit cards?  I am going to use them for savings also.  I also have a Bank Of America bank account that I use, but have not applied for any credit cards through them.  I wanted to wait to bring my score up really before I applied. 

[score_building]

generally scores greater than 650 begin to attract prime offers.  the reason i say boa may be a good bet now is because i think some reported here that they received the secured or 99/500 counter offer in the lowish 600s.  it's a great way to get in with boa if you don't qualify for their unsecured just yet.  of course if you can wait and pull up your scores first a bit b4 apping navy or boa you are likely to yield better results.