Installments thats all

[Anonymous]

I was wondering if any one out there has this problem. If so, maybe you can help me. My fico tu is 600, my fico eq is 593. I tried for a hooters cc but got denied. Im afraid to keep trying for cc cause of hard inq, lowers score. Any thoughts? Everything on my cr is under installments. My house, my veh, my bank loan. Therefore, I do not show different types of accts, they say this hurts my cr scores. I dont know what to do about it. Any help would be a blessing

[Anonymous]

I had this problem too.  I applied and got a cc from continential finance and another one from credit one.  The fees are ok, there are several but I figured I would get them, rebuild my credit, then get rid of them.  My husbands score was in the 400's and he even got approved.

[Anonymous]

When I only had a mortgage, and car loan, I applied for Capital One Visa. It was a starter card with only $300 cl. A few months later, I applied for Crossroads Bank Visa secured card. Again...$300 cl. A few months after that, I went for a Cap1 MC, and got s$400 cl on that.

Now, the Cap1 Visa cl: $3,200; Cap1 MC: $1,500. Crossroads bank: $1,100.

I'd recommend going for a starter card. Capitol One, First Premier, Orchard Bank, HSBC, are but a few.

In the section called "Credit Cards", there is a wonderful thread: it lists friendly cc's and the url's. Take a look. Hope that helps

[Anonymous]

Thank you so much, I will try a starter card. Just kind of worried about hard inq, I need a cc tho to build credit score.

[Anonymous]

I hear you rusty. Been there...done that. Good luck to you, and for goodness sakes always pay on time. Never be late. Never ever. That's the killer that damanged me so much.

[Anonymous]

I started with First Premier last November ( will close it after this month's reporting) with the determination that I would only keep it for ONE year because of the fees.  Next was a gas card (exxon - $100, upped to $150 in  July, upgradable to MC at some point) then Home Depot (pre-selected offer, upgradable to a MC eventually), then I refused an Orchard Bank MC (pre-selected), in July a Cap1 (pre-selected $300), accepted a  pre-selected JCP in April (they doubled my limit in August), a Citgo in Sep ($750 limit upgrabable to a MC), a CitiBank in Sep ($2500), a Target in Sep ($200 but can be upraded to a Target Visa in 6-12 months) and an HSBC MC in Sep ($500 limit).

What I am trying to do is get cards that I can eventually work my way to a co-branded card.  Then it will be tailored back to 2 MC/Visa (I need one for business expenses with a $3-5K limit to keep it at a proper util), and 2 co-brands and probably JCP (I shop there a lot and like the discounts from having their card)

Exxon is not reporting right now - but they should start in Dec or Jan.  Citgo has not reported either - have to check on that one.

BTW-  Exxon, Home Depot and Citgo are all managed by Citibank - which is probably why I got the limit I did with them - because they have my payment history right in front of them.  For any homeowner an HD or Lowes card is a good idea (many 0% for 6 months promos).

Message Edited by Lady_Scarlet on 10-08-2007 11:40 AM

[Anonymous]

I would keep applying. Getting 1 or 3 cards would out weigh the losses of inqs in this case. You can also try for a Cheveron gas card. Much easier to get.

Message Edited by ilovepizza on 10-08-2007 09:05 AM

[haulingthescoreup]

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RUSTY101 wrote:

I was wondering if any one out there has this problem. If so, maybe you can help me. My fico tu is 600, my fico eq is 593. I tried for a hooters cc but got denied. Im afraid to keep trying for cc cause of hard inq, lowers score. Any thoughts? Everything on my cr is under installments. My house, my veh, my bank loan. Therefore, I do not show different types of accts, they say this hurts my cr scores. I dont know what to do about it. Any help would be a blessing

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Have you checked with the bank(s) that you have your installment loans from? Most of them offer a bank-branded Visa or MC. If you're a customer already, you might be able to talk them into doing it with a soft inquiry. You can print out your most recent FICO scores and reports, and take them with you--maybe they'll agree to issue a card based on your existing relationship plus what you bring them. Worth a try, if you're desperate to avoid an inq. If they refuse to do it without a hard, they should at least be able to give you an educated guess beforehand as to whether you would qualify.

I figure that if we are giving banks and CU's our money, the least that we can do is ask for some service back. 

[Anonymous]

You might be able to take out a 1 year CD for $1000 with Wamu and then apply a week after the CD is open. You might just get a CC with a half the limit of the CD bal or so I've heard. That's how I finally got approved. Not sure if that is cheating. Not sure if other banks do that too. Not even sure if this works for everyone. If it works, you might be able to take out another CD for more money and request a CLI in 3 months. But stuff like this only works if you have savings money to move around. It's almost like getting a secured card except you earn interest on your money and get all of it back.

Message Edited by ilovepizza on 10-08-2007 10:44 AM