New to this forum, New CC question

Anonymous · ‎11-23-2010

I am in the process of trying to rebuild my credit. Unfortunately, I had a bad start when I got out of High School. Very little of my debt is actually attributed to myself, but mainly to my parents who would ask me to put things in my name and they would end up letting it charge off while I was in college. Regardless, now that I've graduated, I am trying to find a credit card where I can start establishing some type of credit. Some of my poor credit will be off of my report within the next couple of months but anyway, MyFico score is around a 580. Does anyone know of where I should go or what steps I should take in order to try to get a card? I obviously want a decent card that is not full of charges, but at this point, anything to start improving my credit will help. TIA.

Anonymous · ‎11-23-2010

With your fico score, i'd say try Capital one to start. Also, if you have good relationship with Prime Banks, try to apply secured card with them.

DLW890 · ‎11-23-2010

For some reaosn, it made me pick another user name again. Is there a specific card that I should look at for Capital One? Just not sure which cards are for people rebuilding credit from those that are for excellent credit.

MarineVietVet · ‎11-23-2010

@DLW890 wrote:
For some reaosn, it made me pick another user name again. Is there a specific card that I should look at for Capital One? Just not sure which cards are for people rebuilding credit from those that are for excellent credit.

Hello and welcome to myFICO. There is a very good Credit Card Center here onsite that might be able to help you in addition to suggestions from other members.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Anonymous · ‎11-23-2010

@DLW890 wrote:
For some reaosn, it made me pick another user name again. Is there a specific card that I should look at for Capital One? Just not sure which cards are for people rebuilding credit from those that are for excellent credit.

For Capital One, you should look at the ones marked "Limited History". There are 9 including 2 secured cards. I like their secured card for rebuilding, because you can easily add to the deposit (if you have the funds available) and build a larger limit than you are likely to get with unsecured. I believe this strategy will help you to higher limit cards quicker.