Need a CC, but which one can I get?

[JayBeast]

I'm new to the boards, so please excuse me if my abbreviations or terminology is off.

A little over a year ago, I entered a DMP with my 4 credit cards and closed them. Between the 4 cards, my utilization ratio is now 81% which is down from 103% when I started. My FICO scores as of today are TU 735 and EX 691. I just finished paying off my $18k car and I have a student loan with a balance of $21k. Since I entered the DMP, I've had no late payments, and my car/student loans have never been late, and I have never been more than 30 days late on anything. Other than an old Macy's card I closed about 3 years ago because of a low CL and I rarely used it, I have no other TL showing. In the last two years I've had 2 hard pulls on my files (one for my DMP, the other from my employer).

I just found out that I need to travel for personal reasons in a few months and I know that its virtually impossible to rent a car without a credit card. I'd like to try and avoid a secured card, but I don't know which card I can apply for. Any ideas on a card I'll qualify for with a CL between $500-1000? My old cards were with Citibank and Discover so I think those are out of the question.

Any thoughts? Thanks!

[Anonymous]

HSBC cards do preapprovals with soft inqs and tell you what you apply for.

[Anonymous]

Your scores are fine to get many unsecured cards-

You MUST check with you DMP FIRST- make sure it is OK.

[shawnette]

Some rental companies will accept a Check card that has a VISA/MC logo.  I've used mine for years with Thrifty & Budget.  I make the reservation online and have never had an issue.

[Anonymous]

Most Rental co's WILL do a credit check if you use a debit card-

Some soft and some hard

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shawnette wrote:

Some rental companies will accept a Check card that has a VISA/MC logo.  I've used mine for years with Thrifty & Budget.  I make the reservation online and have never had an issue.

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[shawnette]

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Timothy wrote:

Most Rental co's WILL do a credit check if you use a debit card-

Some soft and some hard

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shawnette wrote:

Some rental companies will accept a Check card that has a VISA/MC logo.  I've used mine for years with Thrifty & Budget.  I make the reservation online and have never had an issue.

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I've been using my check card for rentals for at least 10 years and have NEVER had a credit check.  I always book online.

[JayBeast]

I've checked with my DMP and honestly, they were shocked when I told them I had no open CCs. Needless to say, my DMP is OK with my applying. I found a link for pre-approval with BoA. Being that everyone states its a soft pull, I tried it. The only option BoAr recommended for was their secured card which I want to avoid.

I've been doing some reading elsewhere and noticed a trend that CUs are usually a little more lenient. I actually do my banking at a CU so maybe I'll stop by there in the morning with a copy of my credit report and let them see what they think instead of taking a hard inquiry.

I work in the travel industry and while I know its possible to rent a car with just a debit card, I also know its really easy to freeze a debit card by placing a large hold on the account if processed incorrectly. (I've froze a few accounts on accident myself, and had to fix a lot more.) Knowing this, I am REALLY uncomfortable letting my debit card get anywhere near a car rental reservation.

Anyone else got any thoughts on good cards?

Message Edited by JayBeast on 04-25-2008 11:57 PM

[haulingthescoreup]

I'd grab a CU card, let it start reporting, and try BofA again.

Your problem right now with the big boy banks is that to them, you're a mystery, having no open CC's. Get that history established first, and they'll be happy to talk to you.

[Anonymous]

WAMU does pre-approval, HSBC, CAP one.  Your Credit Union is still the first  and best bet. 

[JayBeast]

Ok, so here's what I got. I went to my CU, and they agreed to give me a $4,500 CL, provided that I balance transfer the same amount to their credit card and close accounts. Given that I'm on a DMP, they're closed to new charges anyway and will be closed once PIF. As I would pay on the credit card, I would have that as credit available. Not exactly a what I wanted, but given that the card is going to have a fixed APR of 6.9% how could I say no??? This is 4 points lower than my lowest card on my DMP and almost 9 points less than highest APR balances I'm transferring from the DMP. Even my credit counselor agreed that I should take the offer.

A few days prior to this, I applied through HSBC and qualified for a $500 CL Platinum with a $39AF and 14.9 APR. Given that I can probably pay off $1000 in two months, I don't think I really need this card.

What do you think are my chances of calling and having the TL closed and removed from my report? Do you think they would also remove the inquiry?