If you are doing it build your credit then I would try and get a secured card as soon as possible. Especially if it will be the first one as primary. You may take a very small decrease for the inquiry and new account but it will recover quickly.
Yes, you need a card for which you are the primary cardholder to build payment history. Also, if it will be your only active (primary) revolver, you'll be rewarded for fulfilling that portion of your credit mix.
@Anonymous You can check the prequal sites of Capital One or Discover to see if you have any offers. Their offers are relatively solid if you didn't have any unsatisfactorily past history.
I recommend letting the secured card age while getting all outstanding debt (the remaining chargeoff and collection) paid before going for an unsecured card to better approval chances.
Then, once everything is paid, check Discovers prequalification tool - if it shows you're prequalified, go for Disco. If not, then go for CapOne. Disco's underwriting tends to be a bit more strict so if you don't get prequalified right away, don't fret, just keep trying. CapOne should be a shoe-in for their Platinum or maybe even Quicksilver.
@Anonymous wrote:They hp tho right. Even tho the initial prequal is a sp? But say you only qual for the secured and pick that one don't they do a hard pull after? Thats the part Im trying to figure out I just want 2 more cards then garden with out any inquiries. Let me know your thought.
Inquiries are unavoidable. They only affect yoyr scores for the first 365 days, then they become unscoreable. If you get the cards you want, then garden for 12 months, those inquiries won't matter.
@Anonymous wrote:Thank you Thorn you helped me a couple days ago to. If I can ask one more question can I get your advice on when to apply for an unsecured because what I found out is it might be a soft pull to get a secured and then once you accept the secure card it's a hard pull on Capital One and discovery so what car would you recommend after I apply the Open Sky?
The discover is the same as the regular one with the only difference being it's secured. It can graduate in as soon as 7 months to a regular card. Also, you can add to the limit at a later time if you need to. The cap1 card will probably not graduate, and if it does, will only receive 1 CLI, ever.
