Trying to get a Card in my own name...

[Booner72]

Having only AU accounts sometimes isn't good enough.  DH was denied even after recon with Home Depot for lack of revolving accounts, despite being an AU on two of my accounts that have been open for quite some time.  I agree that First Premier is a joke and a half - but they do report every month and seven bucks a month is worth it to get your scores up.  (But one needs to consider First Premier's annual fee, and the online pay fee, and the over the phone pay fee, oh yah, don't forget their wonderful rate of 24.99%).  If you need your scores and pay in full and mail in a check, you're really only stuck w/ the annual fee and monthly 7.00.  And a stamp.

[Jennifer331]

Unfortunately, NYS residents no longer are eligible to apply for a First Premier Credit Card.

[Anonymous]

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@Jennifer331 wrote:

Thank you very much for the info.  I tried Orchard Bank and they are onlyoffering me a Secured Card.  Do you think that Capital One would offer me another card in the future, even though I had a chargeoff with them.

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The Orchard Bank secured card would be a great option.  You'll want a bank card - and Orchard qualifies.  I would definitely go for this option - and absolutely do this long before even considering a FP (just sayin' - even if you're fortunate enough as a NY resident to not be eligible to app for FP).

They will absolutely help in your rebuilding process.

[Jennifer331]

Thank you very much for the advice.  I have one question for you.  I have a Chase Card that is closed, but I am still paying the balance off.  Chase offered me a payment and also reaged the account.  I still have the previous lates showing, but I just wanted know if I would ever be able to get a Chase card again. 

[rckstrscott]

Sidenote to your True Credit score -- I use true credit, I like it because of the daily transunion monitoring, the once a month trimerged reports, and the cheap purchase of tri-merged if you want extras... but yeah, the scoring is junk.

First off, the scores go to 990. So having like, a 720 (like my TC score) translates to many points lower.

Secondly, any baddie paid or removed will increase that score. Which is not true with fico.

-scott

[Anonymous]

Question, have you thought about getting a personal loan first rather than a credit card?

My FICO score was 600 at the start of 2010 and I've managed to bring it up to 681 in little to no time. I started with a $1500 secured loan from my credit union and put the money straight into a savings account with automatic drafts set to repay it in 9 months. After that I got approved for a $4000 loan which I setup the same way, to auto repay itself in a 9 month time frame, which just got paid off this month actually. The key is don't touch the borrowed money.

I also applied for a secured card only a lousy 500 last Nov but I recently got approved for a card for 1500 in Apirl, and I stick to a 18% of the credit limit monthly charge. So on my one card I set aside $270.00 each month to charge and never go over that amount.

Simple solutions, and finding a credit union can do wonders. I tried going the credit card route too at first, and found the personal loans where easier to get into. Which has now opened up the credit card route. Before I couldn't get anyone to give me a credit card.

[Jennifer331]

Thank you for the advice.  I actually tried get Citi Personal Loan and was denied.  It stated that I had derogatory information on my credit file.  They pulled my report from transunion.  I am just trying to get back on track and I feel like I am never going to get there with the banks not wanting to give me chance.

[Jennifer331]

I am actually 26 years old, I am just new to this whole rebuilding process. So if I sound like I dont know much forgive me.   I am trying to eventually own a home of my own one day for my kids.

I will just allow the two cards that I currently have where I am the AU help me.  I will continue to PIF every month and see how it impacts my score.  Thanks for your time.

[LIGHTNIN]

  I have an Orchard Bank CC, it way my 1st CC to start rebuilding again. But Just to let you know Captial One just bought the company.Grr.

I would suggest joining a CU,some have programs to help with credit.

Oh and the CU's ten to have the best rates on auto loans.

You sound young or maybe it's my esp telling me that, lol.

Surf the net for CU in your area, then check their web sites to see what kind of services they have to offer.

At my DS CU, they told him his CS, also helped him with his CR, and advised him on when to get their CC.                                                                                                             They were very helpful.                                                                                                                                                                                           

[Anonymous]

Dont' worry about being 26,  I just turned 29 and got married when I had turned 27 and didn't start thinking about this stuff till I got married. I wrecked my credit in my early 20s with a high paying job I lost and then worked hard to get debt free. I was on that whole ZERO DEBT credit is the DEVIL train until I started learning about investing and leveraging credit to my advantage. And wanting to buy a home like you.

Secured may be your best route, even if it's small amount. If you can't even get $1000.00 or $500 of credit, secured is a great starting route. It's more of a pain in the butt now a days since things are tighter.

And it never seems to make any sense. My wife has a lower score than me, and 4x the debt (she just got her masters, take a guess how much that cost) and yet she can get cards left and right. Me on the other, I go debt free with no credit and now all of a sudden I'm having to work hard to get it.

URGH, totally relate.