I really need some help. I have had some major success in cleaning my credit, so clean that I look like a baby. I think at this point I need to place some credit on it. Can someone please give me clarity on using these services: Subprime cards - USA Platinum, All Americian Gold, and the Universal Platinum... My question is do these cards report to Equifax, Transunion, and Experian? I really don't understand the Universal Platinum mastercard? Is this a good start? My scores are Transunion - 720, Equifax - 671, Experian - 583...Please Help!
Is there someone who has long-term established credit, who would add you as an authorized user? If not, try applying for Bank of America standard card - if they don't issue you a regular card, they will give you a secured card (you cannot apply for the secured card, they only offer it if they turn you down for a regular card). B o f A likes people who are just starting out, and do not already have a relationship with another lender. They do not play games, best I can tell. I would stay away from these so-called credit-building cards - they are expensive bordering on scams. You will be better off with a secured card from a good lender, where you can build a relationship for the future.
Join a credit union and apply for their credit card. Also apply for a small loan ($500) and pay it back over a 1 year. This will really help.
Actually, you can go to the BofA Web site and print the application for the secured visa. You can't apply online tho.
I like the credit union idea. Go in and sit down with someone and tell them you need to establish some credit. Don't say you had derogs that you had deleted, though! Ask what they recommend. They may give you a credit card with a small limit or they may suggest a secured loan or something like that. But credit unions are usually easier to work with. If you have anything on your report at all, you may also be able to get some of the store or gas cards as a starter.
