New Card Time?

[Anonymous]

Hello, 

I started rebuilding my credit around June of 2018. I have a number of accounts reporting now including a $500 limit Credit One and a $300 limit Cap1(Just hit 5 payments, waiting on my increase). The other accounts are installment accounts besides the 7K Cap1 Cabelas AU. I have an auto with GM Financial @ around 19%. I have a reposession from 11/17 and a Merrick Bank Card that is in collecton from 3-4 years back for under $1000.I have 32 Inquiries TU and 12 EQ only two of which are in the last 6 months.  My scores have gone from the 510 range to around 650. I have a business opportunity that has unfortunatly revealed itself at the same time as some costley vehicle repairs. Due to this I was not able to pay the credit one in full as I do before the statement date and that is now showing a $415/500 for the last statement. I was turned down for a Cap1 backed store card recently. I would really like to be able to take advantage of the opportunity before me but i need the funds to do so. I would really love suggestions as to how to or with whom to secure this funding! Thank you for your help

PS-I would be willing to join any CU or even start a business 

[Pikaboo-icu]

Hello,

How much are you needing for the repair?

Honestly, some of your DPs are going to make this very difficult to obtain new credit..

Have you looked into Synchrony Car Care? I don't know how tough their UW is but somebody around here likely knows.

Good Luck!!

[Anonymous]

$1400. 

I just paid my Cap1 in full and will request an increase tomorrow when that clears. I am sure that will not get me the funds I need. I just figured that if I need 1 more revolving to have the magical 3, this is the time to get it. I currently bank with Bank of America and went through what seemed SIMILAR to a prequal. They "suggested" a card, but I am weary of a HP that ends up fruitless. 

[Pikaboo-icu]

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@Anonymous wrote:

$1400. 

I just paid my Cap1 in full and will request an increase tomorrow when that clears. I am sure that will not get me the funds I need. I just figured that if I need 1 more revolving to have the magical 3, this is the time to get it. I currently bank with Bank of America and went through what seemed SIMILAR to a prequal. They "suggested" a card, but I am weary of a HP that ends up fruitless. 

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That's not too high..

Hopefully somebody familiar with Synch Car Care will have some DPs on their approvals.

I've never used them so anything I could offer would be speculation, not helpful in this case.. 

Or perhaps they will have another suggestion..

I'm just worried for you because of the baddies and uti on your current card.

Did you try the prequal sites at Discover & Amex?

They're often friendly to applicants around 650 range and it's only a SP to check. 

[Anonymous]

Amex told me to go away and Discover recommended the secured card. 

[Remedios]

OP, I dont think you'll be able to get unsecured card at this time 

Maybe try local credit unions, they will often have unsecure but low limit starter credit cards

At least  it will be something 

Also, do not apply for anything until that payment you just made is reflected on your credit report. You will have a better chance of getting approved with low utilization

Good luck and I hope you find something that will work for you 

[Anonymous]

What do you think about applying for BoA cash rewards and in the case of a denial, calling the back door number and pleading my case as a 3+ year BoA customer?

[Remedios]

Boa can be difficult even with a clean profile, and their prequals are not the actual prequals. They are just suggestions. I do not think you'll have much success there. 

I think local CU is your best bet at this time, especially if Disco was a no go 

[Anonymous]

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@Anonymous wrote:

Amex told me to go away and Discover recommended the secured card. 

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Discover = go for it

[Anonymous]

What about NFCU?