How long should I wait?

[Anonymous]

How long should I wait before applying for a secured credit card. I just paid off two credit cards one being Kohl's and the other being Capital one for a total of 1500 dollars... they both were charged off late last year.  I have already applied for self and fingerhut and my scores are in the high 500's... thanks

[BmoreBull]

You can apply for a secured card at any time. I would start with discover unless you burned them in a bk. Cap One doesn’t graduate any more. Are you a member of any credit unions?

[Anonymous]

I had a CapOne CO from about 3 years ago for 1200. I paid 1/4 of that. A couple of weeks later I applied with them and was approved for a new unsecured card. They were very forgiving. My scores were all in the low 500s at the time.

[Jannelo]

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@Anonymous wrote:

How long should I wait before applying for a secured credit card. I just paid off two credit cards one being Kohl's and the other being Capital one for a total of 1500 dollars... they both were charged off late last year.  I have already applied for self and fingerhut and my scores are in the high 500's... thanks

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I had two Cap One charge-offs when I applied for a Cap One card, which I had not even made arrangements to pay  the COs at the time.  I was approved for an unsecured.  Just go on there and see what you prequalify for.   I did take care of them subsequently.

[Anonymous]

Yes I am but my credit union does not do secured cards and for some reason i am not ready for a unsecured card.  I have tried a discover secured card twice ( no impact to the credit report) and it was denied both times.. you can however apply every week as it says on the letter that I get so i will try again with them mid next month