Hello All, My highest credit score is 713 With Equifax and after reading this link in one of the sticky threads http://groups.yahoo.com/group/whopulledmycredit/ I found out that the GM cards only pull Equifax which has my highest score. I applied just a few minutes ago and was denied due to INSUFFICIENT CREDIT REFERENCES. Since I think I will get denied for other credit cards, how do I build credit references? What other ways can I open revolving lines of credit that report to the various agencies? Nothing I have at the moment reports to the agencies i.e. Phone etc. Thanks so much for the help everyone. Best, Andy
Since you probably just got a hard hit from GM your score might go down. You can also try CapOne (or as some call CrapOne) or Orchard Bank. I have both and both have been very good to me.
Hi Andy, Orchard Bank cards are one of our more popular cards for building credit and they report to all three CRA's: TransUnion, Experian, and Equifax. Here's a link for more information: http://www.creditnet.com/credit-cards/credit-cards-for-bad-credit/Household_MasterCard.php, or scroll to the banner at the bottom of the page. Lisa
where does that 713 score comes from? what card are u currently have. tell us more about ur history and we could advise u better. If u dont have bad credit (charge off, collections etc.) avoid those secured cards form Cap One and Orchard. The best way to add good trade lines are to say someone with very good credit to add u as an authorized user. Ur credit will improve so fast and then in a month or so u could apply and be approved for some stores cards, Amex and maybe a Visa/mc as well.
Thanks for the information so far. Here are my scores: 713 Equifax 695 Transunion 569 Experian I have 2 collections accounts which I paid from Equifax and Transunion and 1 open one with a large balance I am negotiating on Experian. For a long time I avoided credit cards because I had overspent on a few cards during my early college years and since then avoided having any cards. At the moment I dont have any credit cards and am hesitant for applying for any new ones since the GM card said I had Insufficent Credit References. Are there any alternatives to adding credit lines other than credit cards that will report to the various agencies? Thanks again, Andy
ok in that case probably you should apply for a secure or semisecure card. probably the same household Bank (GM, and Orchard) will pre-approved u for the orchard since u were denied for the GM card.
Open a cd account with $500.00 at local bank. tell the rep you want to borrow it back for 6mo. open a free checking account deposit the loan amount,set up auto payments and in 6 mo/s your score should improve. You will need to add a little extra to cover the loan. merrickbank.com for a secured CC.$300 up. Bankofamerica.com for secured CC.$250 up. Try for both cards use only 30% of the credit line pay off monthly no interest charges. You can use them to pay your bills each month. or pay yourself. set up a Ingdirect savings account. get a www.paypal.com account and pay yourself with the credit cards then use the same money to payback the CCs.
