(Recent)Student cards

[nothingman02]

I was wondering, Are there any CCs for students with bad credit? Is it easier for students to get CCs?

I was a student in Grad School until the summer of 2008. Would I still qualify? I mean would the CCCs verify student status?

I was going through my old documents and stuff and whoa! I found a Discover pre approval letter from 2007!!! Im amazed that I never bothered with it. I would kill for that pre-approval now!

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FICOS - EQ-576 / TU602

2 derogs  - a charged off CC and its CA

2 good but subprime CCs from Jan 2009.

1 closed but good standing Citi card.

[Creditaddict]

How old is the closed Citi card in your sigi? I would call them and ask to reinstate!

[nothingman02]

Naah! The CITI was a delinquent card and I settled with them in 2005 after they closed the card after 180 days late. I GWed them last month and they obliged and hence the good standing w.r.t the account. They did leave out the last two lates on EXP though and I have to GW them again for that. Nevertheless, I cant app or recon them I am positive. I plan to app when my scores hit 700. Right now I am sitting at 569/602.

[Anonymous]

i would suggest a secured card at this point.  You want to begin aging some "good credit" history while you clean up the old.  Bank of America, Amalgamated Bank of Chicago and other prime banks offer them.  Also, a Credit Union may have a secured program as well, and you can speak to a real person with lending authority and discuss your personal circumstances and goals rather than just being an number and score in a system.

[nothingman02]

Thanks john. Yep I have a secured Orchard and a FP. They are 3 months old. I may cancel the orchard and get a HSBC platinum MC which I was pre approved for. I have never thought about CUs but Ive been reading way too much about them in here. I think I might go and meet with somebody. Do I have to pick somebody local or can I just opt for any CU like you'd do with the banks. BOA is out of option for me right now. Even the secured.

But frankly, Im looking at it as an investment and a tool to work on my credit rebuilding while I mind my own. Essentially, that would mean a card that would grow with me and hence that'd be an unecured card. The idea is that I wont have to cancel  any cards later after my scores go up. So I am looking hard for that one,unsecured card and then I am gonna sit tight till I am ready for CITI,BOA, AMEX. BOA secured would have been the ideal choice but its out of question. I recently got rejected and there was no counter offer. I have one derog and I am struggling to clear that and BOA denied for that derog. 

[YoungEntrepeneur]

I would keep the Orchard Bank secured card until they charge you the annual fee. There's a good chance that they might waive the annual fee if you keep the account open. I would also apply for the HSBC Platinum Mastercard that you were pre-approved for. Make sure it's been at least 3 months since you applied for the Orchard Bank secured card or else HSBC will automatically deny your application for the Platinum M/C if it hasn't been 90 days since your last application with them.

HSBC cards are fairly easy to get and don't charge you ridiculous fees like First Premier so I consider them a bargain.

[nothingman02]

HOW do you say its just 90 days? I appd and was denied and was told by HSBC that one's got to wait for 18 months. Or I could swap the orchard (close it) for the HSBC. If its just 90 days then I can app next month.

[nothingman02]

Also, it was not an invitation and an online pre approval.

[YoungEntrepeneur]

My friend applied for the Weekender card and was approved for $2,400. He applied for the Platinum Cash Back Visa a month later and was denied. He saw the reason for denial online and it said that he was denied because he had been approved for a card within the past 90 days.

[Anonymous]

The secured savings account you can actually add to the savings over time, which is GOOD.  Save money, Americans are not doing enough.  And while you save, your credit limit will be increased.  As your CL is increased, you earn some interest.

Amalgamated Bank of Chicago had a good secured program.

Alliant Credit Union (I believe Chicago based) seems to be a possible good start.  But since you are a student, get with a Teacher/Student local CU possibly.  Then you can go see somebody and get a little face time and get to be a person not just an app.