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New credit cards

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New credit cards

Hey guys very new to the forum!
Right now I have
MJC
Credit union credit card
Capitalone credit
Self builder loan
Scores at a 569
Looking for a CC that has the lower balance start up just to get something else on there!
What other credit cards have low security deposits!
Thanks
I looked at BOA thinking it was a 99 but it says 300! Just trying to save some cash and prefer not to put a lot out there this month!
Message 1 of 6
5 REPLIES 5
Regular Contributor

Re: New credit cards

Let your accounts age, keep your reporting balances low (28.9% or lower).

Based on your score, you likely have charge offs and/or collection's? If so try and negotiate pay for delete with the creditor/ collection agency.

With a few months of positive reporting information your scores should improve and you can check the pre-qual with Discover and AmEx. Likely won't need to get another secured card.

As others repeat here often "Credit is a marathon, not a race". Time is your friend, be patient.
Starting Score: EQ:608, EX:617, TU:625
Score 10/2018: EQ:669, EX:686, TU:668
Score 11/17/2018: EQ:682, EX:681, TU:683
Current Score 7/7/2019: EQ:705, EX:672, TU:694
12/24/2018 -- EQ Beacon 5.0: 678, EX Fico II: 690, TU Fico Classic 04: 716

Goal Score: 740+


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Message 2 of 6
Community Leader
Mega Contributor

Re: New credit cards


@Dogguy wrote:
Hey guys very new to the forum!
Right now I have
MJC
Credit union credit card
Capitalone credit
Self builder loan
Scores at a 569
Looking for a CC that has the lower balance start up just to get something else on there!
What other credit cards have low security deposits!
Thanks
I looked at BOA thinking it was a 99 but it says 300! Just trying to save some cash and prefer not to put a lot out there this month!

Hi and welcome

 

I dont know what the source of your "score" is, but if it's a true fico, you will have very limited options.

You could try Discover, I think minimum deposit is $200.00. Check and see if you prequalify.

If that does not work, Open Sky may be another one because it does not require credit check

 

I think you should hold off on applying for anything at this time, and address whatever is keeping your scores low. It will give you time to age your current accounts and with score improvement, you'll certainly be looking at better options in the future.

 

You should visit Rebuilding forum for ideas on how to tackle your CR

 

Good luck!

EX 759 EQ 774 TU 753


Message 3 of 6
Established Contributor

Re: New credit cards

As stated, relax and take it slow... you will be pleasantly surprised in 12 months when your scores update!!! Smiley Happy

“Most people work just hard enough not to get fired and get paid just enough not to quit.”
Take the myFICO Fitness Challenge


Message 4 of 6
Regular Contributor

Re: New credit cards

i agree there is no replacement for slow aging your report, think of your score as a fine wine.....

Message 5 of 6
Senior Contributor

Re: New credit cards


@Dogguy

Welcome to myFICO Forums!!!

 

and i was just going to respond and seen that, I was beat to the punch!

 

"@Remedios You could try Discover, I think minimum deposit is $200.00. Check and see if you prequalify."

 

+1

Message 6 of 6
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