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What's a good rebuilder card for someone with ~560 scores when...

thebreeze
Valued Member

What's a good rebuilder card for someone with ~560 scores when...

Discover and Green Dot cards are not an option and she's been turned down by Capital One already? Her highest score is EQ with a 580 if that helps at all.

Message 1 of 11
10 REPLIES 10
LisaTurtle
Valued Member

Re: What's a good rebuilder card for someone with ~560 scores when...

Why are those cards not options? May help with an answer.
Message 2 of 11
Aspireto850
Established Contributor

Re: What's a good rebuilder card for someone with ~560 scores when...

OP,

I would suggest the Amazon builder card. When you apply they consider you for the regular card but if not approved they can offer the builder which graduates in 7 months. It’s fairly new in the market (6 mos). While it not a ‘major card’ it’s one that if you shop at Amazon can be with you for awhile rather than getting a card like Indigo or Credit One which most people end up closing after their rebuild is complete. The Amazon account gets funded pretty quickly after you send in your deposit and can hit your report within a few weeks thereafter.

Good Luck!








Message 3 of 11
ImTheDevil
Community Leader
Super Contributor

Re: What's a good rebuilder card for someone with ~560 scores when...

OpenSky is a secured card that does not perform a credit check. Have her get that, manage it for 6 months, and then hit the Disco prequals.


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Message 4 of 11
calyx
Super Contributor

Re: What's a good rebuilder card for someone with ~560 scores when...


@thebreeze wrote:

Discover and Green Dot cards are not an option and she's been turned down by Capital One already? Her highest score is EQ with a 580 if that helps at all.


Discover is a nice one, but if she cannot get approved - try for Citi.   It usually takes longer to graduate, but it does actually graduate and they seem to be kinder to low scores than some of the other big banks.   Just a warning:   You cannot increase your credit line with them once the account is open, so I would deposit as much as you can with them.

The Amazon secured card is a new one, and if she shop there, it could be a good fit.   If all else fails, I had very good experiences with Opensky, which doesn't do a credit check.   You can also add more money to increase your credit line with them.


RIP:

F8 EQ: 815 | EX: 801 | TU: 805 | Accounts: 1/6 3/12 6/24
Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 5 of 11
simplegirl
Valued Contributor

Re: What's a good rebuilder card for someone with ~560 scores when...

I have citi and amazon so i would agree to try those too but amazon only if she shops on there because thats why i got it. As far as citi the expiration on the card would be your graduation date and for both cards my score was In the 400s when i got approved.








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Message 6 of 11
KJinNC
Valued Contributor

Re: What's a good rebuilder card for someone with ~560 scores when...

Another happy Citi secured card holder. And I second the advice to deposit as much as practical, because it's not possible to increase your deposit/CL once the card is issued, until it graduates.

 

Green Dot not being an option is ok IMO ... not a fan. I would go with Open Sky before Green Dot. I say this as a Green Dot cardholder.


FICO Resilience Index: 66. Cards: 14/24, 0/12, 0/6. Accounts including loans: 17/24, 1/12, 0/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
Cards (oldest to newest)

Authorized user / Corporate / Auto loan / Personal loan

Card CLs total $104,100, not counting the AU card. The AU card brings the total to $129,100. In March 2019, card CLs totaled $0.
CU and bank memberships: Coastal Credit Union, member since 1987, direct deposit; PenFed, member since 2019; Navy Federal, member since 2020; USAA, member since 2020; Chase Bank, member since 2020.

Closed but still on reports: American Express Delta Gold, $1,000, 09/19-10/20 | American Express Hilton Aspire, $3,100, 09/19-12/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
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Message 7 of 11
heavylifter
Regular Contributor

Re: What's a good rebuilder card for someone with ~560 scores when...

my favorite is the Discover secured ,, early graduation rewards on secured account plus a foot in with Disco..

Message 8 of 11
simplegirl
Valued Contributor

Re: What's a good rebuilder card for someone with ~560 scores when...

The op already stated discover and green dot are not a option.







Starting Score: 494 503 521
Current Score: 503 507 507 2/19
Goal Score: 680


Take the myFICO Fitness Challenge





Goals:

Get First Home in Summer 2025
Message 9 of 11
800FICOGoal
Established Contributor

Re: What's a good rebuilder card for someone with ~560 scores when...

I would also recommend the OpenSky card. No credit inquiry, no nonsense, and you can increase your limit if you choose. 











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Message 10 of 11
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