Getting your first card?

[Anonymous]

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@Anonymous wrote:

we gave you our opinion. go and apply for more cards. you may or may not get one. We are not underwrier's. We cant give you the answer, just peer to peer advice.

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Well I wasnt asking for an exact answer I was justs asking what cards are easy to get besides a protected card that holds your money. I know they have prepaid cards that report your credit but that still isnt  what I wanted. I was looking for a normal card that I pay off each month.

[GlocksAndCredit]

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@Anonymous wrote:

Yea well I dont feel like dropping $300 on a card then waiting 8 months or so to get it back. I could take my $300 and invest it into my TD ameritrade account and buy more stock or mutual funds and try to build my worthness.

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It's not like you're dumping the $300 and not seeing it ever again. You're able to use this $300 on the Credit Card (Having to pay it back of course), but it's still there to use. You need to think of this as a savings, IMO. In most cases, some CC companies will match what you put in.

Are you a Student? 

[Kirmie2010]

Ive got 4 court judgements against me, aparentally I just found out about 2 new collections (didnt figure out what they are yet, balance is only a few hundred so it makes no sense but they are there) an overall debt of 9000 or 5000 depdning on which company pulls my info.

I got approved for a CapitalOne Platinum, I got a paper in the mail said Pre-Approved!*, filled the app out online and it said congratulations, I have not seen that in about 8 years.  Was kind of weird but got me back into trying to fix my credit!  (half my deragotory reports hit the 8 year mark and are gone within the next year)

Soo again, CapitalOne Platinum, I have horrible credit and do not know why they gave me a card but its nice I can finally start to rebuild my credit.

my score is 625 and the cap was 300 dollars with info saying after 5 months of no missed payments it goes up.

[Kirmie2010]

credit score is 625 with whoever capital one checked with, I have 4 court judgements, 8k+ in debt and 8 collections according to the check

CapitalOne Platinum approved me with a 300 dollar limit

I actually couldnt believe it  I have horrible credit.  (in process of waiting for everything to drop off my account due to letting people use my card 7 years ago and them never paying me back haha)

[takeshi74]

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@Anonymous wrote:

Well thats what I'm asking I only want one card but I thought applying and getting denied to many times in one month makes your credit score bad?

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Take a look at this:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

It's not "X in one month" or "Y denials".  Denials don't really matter -- note that there is no slice in the lnik above for denials.  The hits come from the inquiry (New Credit) and, if approved, from the reduction in AAoA (Length of Credit History).  Inquiries have more impact for those with thinner credit profiles (why they often get inquiries cited as a major reason for denial) such as yourself.  A person with a thicker credit profile can generally handle more inquiries.  In other words, person A could be denied for having X inquiries while person B could be instantly approved even with the same number of inquiries.  The impact of an inquiry is generally negligible after a year and the inquiry falls off after 2 years.

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@Anonymous wrote:

Yea well I dont feel like dropping $300 on a card then waiting 8 months or so to get it back. I could take my $300 and invest it into my TD ameritrade account and buy more stock or mutual funds and try to build my worthness.

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Those won't build your credit.  You can't be in a hurry for anything credit related.  As is commonly stated around here, it's a marathon, not a sprint.  There are secured cards that will return your deposit and grow with you and we always highly recommend them for those building or rebuilding for reasons already stated above.  You can certainly try the store card route but many find secured (or a mix of secured and store) to be a better option.

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@Anonymous wrote:

I know they have prepaid cards that report your credit but that still isnt  what I wanted.

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Prepaid and secured are two entirely different things.

All that said, it's your call in the end.  You can certainly ignore all the advice you requested and do as you please.

[Anonymous]

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@Laddi wrote:

One of my family member had no credit it all and filled out Discover pre approval form and was approved for Discover IT card. You should use the pre approval tool to see if they give you pre approval.

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Well where do I go to see if I get pre approved for any cards ?

[Kirmie2010]

google

pre approval credit card links

you can add myfico to get the forum pages here.

I have not found 1 place with all links yet but that will find you most.

Ive just been going to companies main sites, most of them have a pre-approval link somewhere on the site and once on that page with a check box to confirm you know its not going to change your credit score and its just a soft inquiry.