My credit is abysmal but hopefully, the worst is behind me. Score is in the low 500s. I have just settled with a bank on a CC debt, have some other CC debt that I'm up to date with. More than 90 days overdue on the one CC that has just been settled. So that's the big black mark. My income is not that high either (though is looking up).
On a whim, I applied for Green Dot Platinum and got accepted. $200 deposit. I also took a chance and applied to Capital One Secured, but no go! Uh oh! I'm a credit leper.
I suspect I'd still have a shot with OpenSky. Should I try? I can stick with Green Dot since I know I'm approved, or I could just not send in my deposit for them and let the card offer lapse. (This wouldn't create a black mark for me, would it?)
Are there any other secured cards that I could try that wouldn't be a hard pull on my credit? I applied twice in the last few days (hard pulls) and that's enough for now.
Thanks for any help you can give. I have been spending a lot of time here reading many threads.
You already took the hard pull for Green Dot so you might as well open it. Open sky doesn't do a credit check. If you take open sky instead and want Green Dot later, you'll take another hard pull.
Thanks. The more I think of it, the more inclined I am to just stop applying and stick with Green Dot. A bird in the hand is worth two in the bush!
I did look at the OpenSky application and they want their money up front. Eh... I'll wait on that one. I mean, I'm still willing to do it... but Green Dot doesn't sound too bad. (At least, one member here said they had a good experience with it.)
My tentative plan now is to just wait it out a few months and then look into another secured card or two.
BTW, as far as I know, Green Dot didn't do a hard pull. But it doesn't matter; I've had enough hard pulls for now.
I have an Opensky card (opened in July). They're fairly easy to use, and they do not do a HP, they only confirm your identity. They do report to the three bureaus as they claim, and my only real complaint is that they take forever to credit payments in the beginning (it would take several business days, now it only takes me 1 - I've read that it's pretty common for that to happen with them).
I was denied both Cap One and Discover secured cards (HPs, of course, CapOne is the worst with the triple), so I went with Opensky and I haven't been mad about it yet (I'll cancel it this coming year, they DO charge their $35 AF up front). I have USBank and Citi secureds now, they both did HPs (Citi hit 2 CRAs!).
Dang I wish you would've come here sooner! No way I would've take the HP's for the Cap One secured - Discover is better. No HP for Green Dot I have that one
suzemo, thanks for the info on OpenSky. If I had thought to apply to it first, I would have gone with it. However having them ask for the money up front was off-putting. But, I've heard enough about them to believe they'd be pretty good.
I have no idea what my credit score will look like in a few months. Where it's at will determine when or if I apply to other cards. I know it'll be good to wait longer so my recent late payments are not so recent!
I've done more reading (user reviews) about Green Dot, and it sounds like it works mostly pretty well, as long as you are careful and use it as a credit-builder only. It also works for people with no checking account, but those with no checking account sometimes complained of having trouble. There is also a $5 fee to "deposit" money to the card via retailers like 7-11 or WalMart. It sounds like renting a car with it is iffy or just won't work.
Thankfully, in my case, I intend to use it for a few small purchases a month, which I will pay off immediately. For people who used Green Dot like that, it didn't sound too bad. Knock on wood!
It sounds like OpenSky works fine—probably better than Green Dot, but hey! I can get OpenSky later if I wish.
Brandon, thanks! If I had known that I had NO chance with Capital One, I wouldn't have bothered and wasted the hard pull! Oh well! So, you have Green Dot too? How do you like it so far?
My BIG problem with Capital One is the 3 HP's they pull for a freaking secured credit card. I WISH SO BADLY I could have that one back. Discover is 2 pull I believe.
GreenDot is fine. It takes some time for payments to post. So make sure you post your payment well in advance of due date.
As far as I know I only got one hard pull for Capital One. (At least that's what my report at NerdWallet says.) But it was a totally "wasted" hard pull! Ugh!
Thanks for the info about Green Dot. I will be careful to send payments quickly! Glad to know that it's working okay.