Thread: Need rebuild credit card score 569

Hey

I've gotten a lot deleted but I have no open credit. My scores for my husband and I are up to 550 and 569. Who can give me a card to build positive tradelines or should I just wait until more deletions and to get in the 600's before I start thinking about that/

Originally posted by Shumake
Hey

I've gotten a lot deleted but I have no open credit. My scores for my husband and I are up to 550 and 569. Who can give me a card to build positive tradelines or should I just wait until more deletions and to get in the 600's before I start thinking about that/

You might want to try a secured card. I have heard great things about BOA. You can do a search on secured cards and see what card fits you best. Good Luck.

You might try the Chevron card. DH applied for it a couple of months ago and was approved for the rebuilder card. At the time he applied, he had several negative items on his report. We had heard they were pretty flexible and if not approved for their "normal" card, you may get offered the rebuilder card, which is what he got. It has a $300 limit and an annual fee of $30. There aren't any Chevron stations in our area (not within a couple hundred miles actually) but he will be able to use it a little when he travels for business.

paw67

BofA is a great secured card however, they will not issue you a card if you have any unpaid chargeoffs or collections on file

dies the BOA report as a secured card or an unsecured card?

what other places report as unsecured even though they are secured?

I've heard that B O A reports as secured if it matters.

Another possibility is either an American Pacific Bank (AOL) secured or a "no income verification secured " card (www.apbank.com).

The guidelines for their regular secured card:

Minimum deposit $300 will get you a full $300 CL; in other words you have full benefit of your deposit, and you can increase it without fees (some charge you fees if you want to increase to your CL) monthly in increments of $100 up to $15,000.

Easy Guidelines
$10,000 gross annual income
U.S. resident
Must reside in the Continental U.S., including Alaska or Hawaii
18 years of age or older
A phone in your home
Current accounts not seriously past due
Bankruptcy must be discharged. If your bankruptcy was filed in the past 12 months, send a copy of the discharge papers. A chapter 13 bankruptcy must be at least 6 months old

17.4% Fixed Annual Percentage Rate
25 Day Grace Period for Purchases
No Transaction Fee for Purchases
No Application or Processing Fee
$35 Annual Fee ($45 for Business Accounts)

Annual Percentage Rate: 17.4% *Fixed* (which is a great rate for rebuilding credit)
Grace Period for Purchases: 25 days on average
Grace Period for Cash Advance: None
Method of Computing the Balance for Purchases: Average daily balance including new purchases
Annual Fee: $35 per year/$45 for Business accounts
Transaction Fee for Cash Advances: $5 or 3% of the advance, whichever is greater
Late Payment Fee: $25
Overlimit Fee: $25

For their "no income card" you have to deposit $600 for a $500 cl and you only get a max cl of $1200. They must consider "you" higher risk if you have no verifiable income. This is the card they recommend for either HS grads or college grads before getting their first job. Fees and grace period are the same.

I've heard APBank reports as "unsecured" to all three CRAs and I think this card will become incrementally "unsecured" 25% at a time either 6 or 9 month interval. I haven't heard a bad thing about this card. In fact I sent for an application myself months ago.

My advice is to stay away from First Premier Bank (rip-off fees) and anything from Cross Country Bank. Bankrate.com has many "secured card" choices. You can also do a search on "secured credit cards". Hope these additional choices help.