Best Credit Card to rebuild credit

[shambles2020]

Hello,

I tried searching but some of the post seem outdated. 

I am rebuilding my credit after a very difficult time in my life. Unfortuantely I had 3 cards charged off. Chase and USAA were paid pack in full. NFCU I had to setteled sadly the balance was too high. The cards were all charged off in 2019 and 2020. I paid them last July. I also had a wellsfargo credit card I closed it years 6/7 years ago.I kept my victoria secret card. The balance is $500.  I have to keep my job, I can't fall into that credit card trap again. I pay everything ontime and have been since 2020. The down side is I have no real credit cards. Sometimes things like renting a car are a hassle I have to ask my sister. I have to travel for work and would prefer not to apply for a government credit card. It does nothing for my credit and will be a hard inquiry for a card I do not want. I had one when I was going through a tough time. Citi would constantly run my credit. I went from the highest balance of $5k to $2500 even though the card was paid in full. I have a work trip coming up I would like to apply for a credit card to be able to book my hotel overseas easier. I also want to purchase a home in December as well. Should I apply for a card? If so which one?

Current card- Victoria Secret $500 limit $0 balance. 

[FicoMike0]

Seems like Capone is second chance friendly. A little tight on the limits. Try their preapproval. You don't give your scores, that might get you better advice.

[shambles2020]

I keep getting their pre-approval letter but I have something on my credit that the I have to send ID and proof identity. Some scammer got me years ago. I never went through with it. I was like this time if I am going to get a card I want to make sure it's something I want. Thanks for the advice. 

[Horseshoez]

@shambles2020, after myh Chapter 13 discharge I couldn't get a decent credit card to save my soul, and like you, I needed to travel for from time to time; I opted to plunk down $5,000 for a secured credit card to solve my issue.  Not only was I able to rent cars and hotel rooms with zero issues with that card, it graduated after only six months of pretty heavy usage, and since then it has more than doubled in credit limit.  As a side benefit, with zero factual evidence, I credit that card with springboarding my ability to obtain cards with even higher limits.

[IsambardPrince]

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@Horseshoez wrote:

@shambles2020, after myh Chapter 13 discharge I couldn't get a decent credit card to save my soul, and like you, I needed to travel for from time to time; I opted to plunk down $5,000 for a secured credit card to solve my issue.  Not only was I able to rent cars and hotel rooms with zero issues with that card, it graduated after only six months of pretty heavy usage, and since then it has more than doubled in credit limit.  As a side benefit, with zero factual evidence, I credit that card with springboarding my ability to obtain cards with even higher limits.

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You can rent cars and hotel rooms with a debit card. Tying up $5,000 for 6 months at zero interest when you're fresh out of bankruptcy to do things you can do with a debit card seems excessive when you can get $130 or so in a $5,000 six month CD.

[shambles2020]

Thank you. I thought about getting a secure card too. I never filed for bankruptcy. I rent hotel rooms fine with my debit card. Some of these rental car companies want to do a soft pull every time you rent. That's my issue. I don't let anyone run my credit just because. The only people thaf run my credit just because is my job. Once I fell into that trap I let the cards go paid 2 completely off no settlement. NFCU I had to settle. I also had a car loan with them paid that off early in the process. I won't put all my business on this forum. I don't want a credit card to use for spending. I just want one good card to make certain things easier. Especially when traveling outside of the country for work. I don't want a government credit card. I rather get a card with some decent perks. It's government travel, you know I will have the money to pay the card off with 0 balance at the end of the billing cycle. I think will try the secure card route. 

[captainsensation]

Take advantage of the pre approval offers from discover and capital one. If you cant get discover i would go with capital one. Although they are wishy washy with CLI you can certainly get something with them if your credit is not great.

[Backwoods]

Once upon a time  shortly after the lightbulb was starting to replace whale oil for lighting i worked for Federal government and traveled 5 states regularly.   My travel then 40 years ago was over $1,000 a month.   My boss got me a long distance phone card and I had the option of getting a Dinners Club goverment card SOFT PULL not hard pull or a cash expense advance of 2X average expense.      I took the $2,000 and put in a seperate checking account with a debit card and used it for travel.   I replaced the money each month with my expense check.   Now instead I would have gotten a secure card with the $2,000 if had been me and 2024  

[shambles2020]

Thank you, capital has been seending pre-approvals for ever. I just been throwng then away. Apple send me pre-approvals as well. I thought I had all my stuff frozen. If it wasn't for this work stuff I would stay without a card. I always have to confirm my indentinty and send extra documentation. I need to give them a try sooner rather than later. 

[noonway]

After my BK13, I applied for CapitalOne QuickSilver for my first card. My wife and I burned CapOne in the BK13 so I was a little nervous about that but we were getting preapproval letters. I'm glad I did. I got an original $3k CL.  I went with MissionLane (a rebuilding company) for my second card and got $2k CL. I recently went with CreditOne AMEX ($2k CL) for my third card but I'm regretting that a bit and may close the MissionLane and CreditOne AMEX once I can replace them in a year or two.

CapOne QS auto increased to $8k after 5 months and $16k after another 5 months.  When I originally got their card I did note on their site that I wanted a $16k CL because my wife and I were going through a remodel that cost $16k and at the time I thought we were going to have to put it on the CC.  Thankfully that never happened, but I'm sure that's what drove the CLI to $16k.

Anywho, long story short, go with the CapitalOne QuickSilver. It's a great starting card. Good luck!