@kittywitty wrote:
going to finally break down and get a secure card. open sky looks good i'm wondering does it matter the amount of credit limit as far as scoring is concerned? does open sky really start at $200 for their secure card? portfolio recovery is killing whats left of my credit score over a $300 ge capital collection. 2 more weeks till they get my 623 dispute letter. my last car payment was 90 days late and no sooner i pay it off someone totals my car. the collection is being reported as an open tradeline so i'm wondering how much of a credit limit i should request. i have a $500 secure loan with a credit union and am working on getting another with a different credit union. i was thinking i would be better to get portfolio removed then get a gas card to give me an open tradeline but it's taking so long to get them removed. i don't want a high credit limit when i apply for my next car loan but i think i need some sort of credit limit to increase my lousy score. trans-606 exp-629 equifax-537 (equifax might be a little higher) i was offer 13% in april from captal one and the car i just paid off was 10%. at this point i am not willing to even pay 10%
Hello,
I just BROKE DOWN as well and signed up for this very same secured visa credit card. My first CC in 10 years was my Capital One Classic Platinum MasterCard that I received in May 2014 (which Cap One recently upgraded to the QuicksilverOne Rewards Card). I've only had that credit card opened for three months, but I REALLY wish I would've signed up for the Open Sky card at the same time! I could have had 2 POSITIVE trade lines reporting to all three bureaus AT THE SAME TIME... I applied online for the Open Sky and it only took a few minutes. The best thing about their card is not having the hard pull that lowers your credit score! I sent them $200 last week on 8/25 via Western Union which cost me a $9 fee (so the total was $209). I was going to do a wire transfer from my Huntington National Bank account, but the fee would have been $25 so I said screw that... I didn't pay the $50 to have it shipped sooner as that really doesn't matter to me. Two days later, on 8/27, they sent me an E-mail notification AND a phone call stating that they received my funds and that my account was OPEN and would be reported to all three CRAs for AUGUST, which is awesome! The account will report as having a balance of $29 (the cost of the annual fee) out of the $200 deposit so the utilization will show around 14% which is OK... I will pay that off AS SOON AS I RECEIVE THE CARD and keep the utilization below 10%! Around the same time, last week, I was approved for two additional lines of credit: one with Walmart and another with Capital One. I have heard that this Open Sky card can be a great rebuilding tool as long as you stay on top of everything and keep the fees to a minimum.
Current FICOs: (11-02-15) EQ- 623 (628) / EX- 643 / TU- 679
Starting FICOs: (May 2014) Low to mid 500s (all 3 bureaus)
GOAL: As HIGH as possible! All 3 FICOs above 680/700 will be NICE!!!
Total Credit Limits- $104,120
