Will I be approved for a CC? 635

Discussion in 'Credit Talk' started by luiml73, Apr 13, 2004.

  1. luiml73

    luiml73 Member

    Hello,


    I want to apply for a credit card and my score is 635 "Fair"

    I have no debts whats so ever, but I want to build my credit so I can buy and Apt or House in a few years when I finish school.

    If I would get approved, how much will it be for $500? which CC company do you guy's recomend?

    BTW: I only made 22k last year:( and I'm single with no kids

    Thank you

    Luis
     
  2. luiml73

    luiml73 Member

    Just did a few hours of searching


    1. Credit inquiries: I only have one 1/13/2003 Provodian

    2. Negative AT&T $74 paid, was chargeoff 1/17/2004

    3. score 635 Experian I'll get the other 2 tomorrow

    4. Bump:)
     
  3. Mirage

    Mirage Well-Known Member

    The charge-off from Jan/2004 will hurt your chances of getting anything prime.

    Pull the other two reports and see if the charge-off is listed.

    Best regards,
    Mirage
     
  4. pd11604

    pd11604 Well-Known Member

    You could start out with a secured credit card, in order to build a good credit history.

    Two good banks that are often mentioned here are Bank of America, and American Pacific Bank. Both offer low deposits (~$300), low annual fees, and competitive interest rates.
     
  5. bugman

    bugman Well-Known Member

    you'll want to get rid of that paid CO. there are options with paid CO's ---> dancerat technique, goodwill, nutcase, simple CRA dispute.

    Other cards you may try include gas and store cards such as ExxonMobil and Wal-Mart.

    Good Luck!

    Bugman
     
  6. trekie

    trekie Well-Known Member

    you may be able to get a card but it would probably be a sub prime card. if you get rid of the neg listings your chances of getting a good credit card would be alot better.
    That being said however if you pull your other 2 and have one that is clean.. You try and find a credit card that only pulls from that one..
     
  7. tropicaljo

    tropicaljo Well-Known Member

    Hey there, luiml73! My fako (PG) scores are running between 560(EQ) and 667(EX). I was approved for a low limit ($250.00) unsecured Mastercard by First Premier Bank four months ago. Go to firstpremier.com to check it out. Also, I was just approved for a Visa with Bank of America ($2000.00) earlier this week. Here's the kicker that make this all so great... I have a very old defaulted student loan, been in default status for almost 20 years. What I find interesting is that even tho it's in default, it appears that it's age is actually helping my scores.
     
  8. tropicaljo

    tropicaljo Well-Known Member

    Oh yes, my interst rates... Mastercard is fixed at 9.9% and Visa is 0% for the first 6 months, then 11.9%. Considering how bad my credit history is, these APR.s aren't bad, and I can negotiate them down once I've established the accounts.
     
  9. pd11604

    pd11604 Well-Known Member

    Is this student loan still showing on your CR's?
    If it is over 20 years old, even if defaulted, derogatory info should be off your CR after 7 years
     
  10. dacoldest

    dacoldest Well-Known Member

    I think you should try Orchard Bank you will know instantly which card you are approved for and the terms. They may say the secured but there's a chance for something else. Plus you don't get an hard inquiry until you agree the card (they do a soft inquiry 1st). Also have you thought about disputing that charge-off 1st.
     
  11. tropicaljo

    tropicaljo Well-Known Member

    Yeah, it's still being reported by EX, but I think there are exceptions about student loans. Someone out there with more knowledge about student loans may know something different concerning how long cr's can report defaulted student loans. If so, I'd love to know if I can get it off of there.
     
  12. pd11604

    pd11604 Well-Known Member

    Re: Re: Will I be approved for a CC? 635

    My GF had student loans from 1980, they went into default a few years after that and the guarantee agency obtained a judgment.

    There are no longer any entries on her CRs concerning these loans or the judgment (>7yrs)
    although they still contacted her re: repayment and threatened wage garnishment if she did not set up a payment plan to rehabilitate them.

    She did set up the plan and has been paying back for over 2 yrs now, but there are still no entries on her CR's!
     
  13. pd11604

    pd11604 Well-Known Member

    Re: Re: Will I be approved for a CC? 635

    more info on student loans from the us dept of education website:

    "Holders of defaulted student loans make periodic updates to federal credit reporting agencies. However, negative credit information may be reported for up to seven years. In other words, whether your loan is paid off following a default or not, the fact that you at one time had a defaulted loan may remain on your credit report for some time. It is possible to have the defaulted student loan information removed from your credit report through the federal loan rehabilitation program. In order to request loan rehabilitation informaiton and to find out whether you qualify, contact your loan holder in writing.
     
  14. luiml73

    luiml73 Member

    Re: Re: Will I be approved for a CC? 635

    Bad new

    I just went to www.homestore.com to upgrade my account to get the 3 reports.

    Experian 0
    Equifax 599
    TransUnion 580

    I also have like 5 new Inquiries that I have no idea what they're about, since I have'nt applied for anything in years.

    COLUMBUS BANK & TRUS National Credit Card Cos.
    Jan 6, 2004

    PFS INC Finance, personal Sep 4, 2003

    T-MOBILE Utilities and fuel Sep 3, 2003

    MBNA Banks and S&Ls Sep 2, 2003

    PROVIDIAN FINANCIAL Bank Credit Cards Jan 3, 2003

    PROV FIN Finance, personal Jan 3, 2003

    Should I start to dispute all of these.

    Thanks again for all the help

    Luis
     
  15. cma

    cma Well-Known Member

    Re: Re: Re: Will I be approved for a CC? 635

    Luis, are you sure they are all 'hard' inquiries? Or are they PRM (promotional)? Also, why do you have a '0' for your EX score?
     
  16. luiml73

    luiml73 Member

    Re: Re: Re: Re: Will I be approved for a CC? 635

    Mike, I don't know how to tell if they are hard or soft. Where do I check that?


    When I pulled my single report first and It gave me the Experian 635. Today when I did all three, Experian said 0. I don't know what's going on

    Thanks again for all your help.
     
  17. goldhummin

    goldhummin Well-Known Member

    Luis,

    I would also echo the idea of applying for an Orchard Bank card. www.orchardbank.com It's true it's subprime, and my credit limit is viewed only through a microscope ($300) but my scores are lower than yours and *I* got an unsecured card. You can too.

    A zero huh? It's got to be a flaw in the computer. I have NEVER head of THAT.
     
  18. luiml73

    luiml73 Member

    I'm going to try them, but first I want to see if i can maybe get rid of the charge off.


    I just checked my report again Experian AT&T:

    Remarks: Account in dispute-reported by subscriber

    Maybe this is why it says 0.


    BTW: How can I get the contact information of the people who reported my charge off. I know it was AT&T, but I'm looking for the info of the Collection Agengy.


    I can't find it!!!
     
  19. goldhummin

    goldhummin Well-Known Member

    On the copies of the CR receive snail mail, the name and address of every OC and CA is listed on the back page. I have only used one on-line CR reseller, but it wasn't the one you're using so I can say about on-line info.
     
  20. luiml73

    luiml73 Member

    One last question, because I'm a bit confused.

    Onchard card is a Master Card. Does this mean if I get a $300 limit and I go and spend $150. Is the $150 do in full after 25 days.

    I don't remember wich are the CC's that are due in full at the end of the month. Is visa the same way?

    Thank you

    Luis
     

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