Need a CC recomendation

[JohnDoe12]

Just pulled my EQ score it's 710.   My TU is probably similar as the same info shows on the report.

MyFICO Score Watch interprets my Applied Bank secure card is not showing as revolving credit! It's showing up as Consumer Financing Account! This is hurting my score according to the report.  In addition, it says I have no revolving credit. I'm getting hit twice for this damn account.

On the other end of the report, it says there's been recent CC use that is helping my score.. go figure.

I need a plan to get some real revolving credit.  I don't want any junk cards, I only put a few expenses on my card and pay it off in full every month. Because of that I'd like a card with some of the following:

High cash back

No foreign transaction fees

Maybe a miles card... maybe...

I don't want to pay any annual fee.

I get a few offers from Credit One, Capital 1, and Chase... They just seem like stock cards with > 20% APR.  Usary laws in my state are only 20%... These people are crooks.  

Thanks,

JD12

[FinStar]

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@JohnDoe12 wrote:

Just pulled my EQ score it's 710.   My TU is probably similar as the same info shows on the report.

MyFICO Score Watch interprets my Applied Bank secure card is not showing as revolving credit! It's showing up as Consumer Financing Account! This is hurting my score according to the report.  In addition, it says I have no revolving credit. I'm getting hit twice for this damn account.

On the other end of the report, it says there's been recent CC use that is helping my score.. go figure.

I need a plan to get some real revolving credit.  I don't want any junk cards, I only put a few expenses on my card and pay it off in full every month. Because of that I'd like a card with some of the following:

High cash back

No foreign transaction fees

Maybe a miles card... maybe...

I don't want to pay any annual fee.

I get a few offers from Credit One, Capital 1, and Chase... They just seem like stock cards with > 20% APR.  Usary laws in my state are only 20%... These people are crooks.  

Thanks,

JD12

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Something is missing here.  You have an Applied Bank secured card with a EQ 710 score?  Do you have other credit accounts (i.e. mortgage, car notes, finance accounts, retail/store cards, student loans, any negatives, etc.)?  Are your current credit limits in range to qualify for anything similar or is Applied Bank your only credit card?  It appears odd that if other creditors only offer (or pre-qualify you) APRs in the 20%+ range, then something is amiss with your credit file.

I fail to see how companies are "crooks" (except for the usual suspects - First Premier, Continental Finance, etc.) if that is the best available rate they can offer based on their risk assessment for individuals who would otherwise not qualify or meet their prime-lending criteria, given income and all other factors.  They are not violating any usury laws based on what is offered "as ceiling" in your specific state.

[JohnDoe12]

No, I only have the 1 card.   My other was closed in 2005 and had a 120 day late on it. Hense the Applied secure card.

The only thing I can think of is that the daa rnecured card is hurting me, or that my credit to debt ratio is too low.

 Any card recommendations?

[Leadberry]

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@JohnDoe12 wrote:

No, I only have the 1 card.   My other was closed in 2005 and had a 120 day late on it. Hense the Applied secure card.

The only thing I can think of is that the daa rnecured card is hurting me, or that my credit to debt ratio is too low.

 Any card recommendations?

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How long have you had that card?  What is your limit/balance?  Are there any other TL's reporting on your CR's, good or bad?  We need more info in order to offer recommendations. 

[FinStar]

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@JohnDoe12 wrote:

No, I only have the 1 card.   My other was closed in 2005 and had a 120 day late on it. Hense the Applied secure card.

The only thing I can think of is that the daa rnecured card is hurting me, or that my credit to debt ratio is too low.

 Any card recommendations?

---

I'm sure others can chime in on this as well; however, the first recommendation is to determine your current scores across the board (EQ, TU, EX).  No lender is going to go off from just one file.  Additionally, what is the current limit/balance on your current card since any creditor will evaluate your score (internal and FICO), your utilization, any negative items (recent or old), the length of your credit file and mix of accounts.   The cleaner the file, the better your chances for decent approvals.

Have you considered the possibility of having some of these negative items removed?  Some companies can be flexible depending on the situation or circumstances for the negative items.

Ideally, these steps can better leverage some of the credit cards that you can potentialy qualify.  This way, you can minimize the number of hard pulls in the event some lenders do not approve you.  There is always a possibility to reconsider a decision (depending on the lender) but this generally works in your favor if you have a solid foundation of your credit picture.

[JohnDoe12]

The card has a limit of 2K. I don't carry a balance. It's paid off every month.

I have 8 accounts total. Longest account was 18 years ago. AAoA 11+ years.

1 Account was the old card that got shut off. It has late payments dating to 2008. It shows 120 days.

1 Student Loan was showing 120. I'm working to get this off. The late payments were 2006-Jan2007. 120 Days late.

1 Account on my Experian shows a $220 paid charge off for utility. I'm trying to get that removed. (Just found the CFO's home address   )

Company Account number Date opened Balance Status Negative Indicator? [?]  

Edfin/Esa	XXXXXXXXXXX7249	3/2007	$21,518	Pays account as agreed	No	Details
Us Dept Ed	XXXXXXXXXXX7236	3/2007	$0	Pays account as agreed	No	Details
Us Dept Ed	XXXXX7352	3/2007	$0	Pays account as agreed	No	Details
Sallie Mae	XXXXXXXXXXX0003	11/2005	$0	Pays account as agreed	Yes	Details
Sears/Cbna		1/1997	$0	Pays account as agreed	No	Details
Us Dept Ed	XXXXX7351	12/1996	$0	Pays account as agreed	No	Details
Sallie Mae	XXXXXXXX102F	11/1995	$0	Pays account as agreed	No	Details
Sallie Mae	XXXXXXXX101F	12/1994	$0	Pays account as agreed	No	Details

[thom02099]

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@JohnDoe12 wrote:

Just pulled my EQ score it's 710.   My TU is probably similar as the same info shows on the report.

MyFICO Score Watch interprets my Applied Bank secure card is not showing as revolving credit! It's showing up as Consumer Financing Account! This is hurting my score according to the report.  In addition, it says I have no revolving credit. I'm getting hit twice for this damn account.

On the other end of the report, it says there's been recent CC use that is helping my score.. go figure.

I need a plan to get some real revolving credit.  I don't want any junk cards, I only put a few expenses on my card and pay it off in full every month. Because of that I'd like a card with some of the following:

High cash back

No foreign transaction fees

Maybe a miles card... maybe...

I don't want to pay any annual fee.

I get a few offers from Credit One, Capital 1, and Chase... They just seem like stock cards with > 20% APR.  Usary laws in my state are only 20%... These people are crooks.  

Thanks,

JD12

---

+1 to what FinStar said, good advice. 

While it would be logical to assume your TU might be on a par with the EQ, that's not necessarily the case, depending on source.  If you're checking TU here, it's going to be an older version and that score could be significantly different from both EQ here (Beacon 5.0) as well as newer TU versions.  Point spread can be huge between the TU98 here and the TU04 that a goodly number of lenders use, as well as TU08.  There's also a difference in the EQ Beacon 5.0 and Beacon 9.0.  Do a search here on TU04 as well as Beacon 9.0 for more sources of information. 

[JohnDoe12]

So I was unable to get rid of 2 baddies from 2006/2007 and at the moment my current CC put a late payment for 2/2013 (ouch!)  

However, I called and they fixed the error. (I print all my payment receipts to PDF.) Now I have to wait a month for it to come off my reports.

Do I get another free credit report if it is because they are taking a late of my account? I want to make sure it's clean before I apply for a card.

Given I have 1 account from Feb 2007 at 150 days late and  one from 2008 that has 120 late in Jan and 60 in Sept,    how likely am I to get an unsecured card? 

As far as the different scores out there, I'm only ever really going to have 2, the EQ and TU provided by MyFico... you can go crazy with this stuff... I've haven't missed a payment since Sept 2008. What type of card can I reasonably apply for?

Chase Freedom?

[SamsungHDTV]

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@JohnDoe12 wrote:

So I was unable to get rid of 2 baddies from 2006/2007 and at the moment my current CC put a late payment for 2/2013 (ouch!)  

However, I called and they fixed the error. (I print all my payment receipts to PDF.) Now I have to wait a month for it to come off my reports.

Do I get another free credit report if it is because they are taking a late of my account? I want to make sure it's clean before I apply for a card.

Given I have 1 account from Feb 2007 at 150 days late and  one from 2008 that has 120 late in Jan and 60 in Sept,    how likely am I to get an unsecured card? 

As far as the different scores out there, I'm only ever really going to have 2, the EQ and TU provided by MyFico... you can go crazy with this stuff... I've haven't missed a payment since Sept 2008. What type of card can I reasonably apply for?

Chase Freedom?

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Chase freedom is a good choice, but it does have a 3% foreign transaction fee

[leoment]

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@JohnDoe12 wrote:

Just pulled my EQ score it's 710.   My TU is probably similar as the same info shows on the report.

MyFICO Score Watch interprets my Applied Bank secure card is not showing as revolving credit! It's showing up as Consumer Financing Account! This is hurting my score according to the report.  In addition, it says I have no revolving credit. I'm getting hit twice for this damn account.

On the other end of the report, it says there's been recent CC use that is helping my score.. go figure.

I need a plan to get some real revolving credit.  I don't want any junk cards, I only put a few expenses on my card and pay it off in full every month. Because of that I'd like a card with some of the following:

High cash back

No foreign transaction fees

Maybe a miles card... maybe...

I don't want to pay any annual fee.

I get a few offers from Credit One, Capital 1, and Chase... They just seem like stock cards with > 20% APR.  Usary laws in my state are only 20%... These people are crooks.  

Thanks,

JD12

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The only cards I can think of are:

Penfed Platinum Rewards Visa (probably your best bet if you have ties with Penfed)

Cap1 cards (either Cash Rewards or VentureOne with no AF)

Discover IT (but not accepted widely overseas despite no FTF)

BoA Travel Rewards

Some don't have high cashback %, but all are FTF free.. It's a tradeoff :\