I'm in college right now and had a few bad experiences with a few roommates that ended up hurting my credit. So right now i'm looking for a card that will help dig me out of this mess without zillions of hidden fees, but all the ones that i've looked at (orchard, premier, image) seem full of holes and traps. Any sort of help or advice for a young credit newbie would be extremely appreciated.
It really would all depend on how many derogatories are on your report and what your FICO scores are? With your description, it is possible you could do any of the following in sequential order: 1) Request validation from any and all collection entities now reporting on your credit reports, 2) Dispute any and all derogatory tradelines now appearing on your reports via the credit reporting agencies, 3) Threaten or follow through with instituting a civil action against any and all of your previous roomates for any number of tort/contractual claims to recoup damages and equitable remedies, if any, and if your not willing to persue any of the above, 4) Get added to positive accounts which have age and low utilization (ask a friend or relative, if that's not feasible you can purchase such from numerous vendors), 5) Opt for HSBC's Orchard Card & Household Card contigent upon their annual fees. If they are above $39.00, I'd advise you to go with National City secured and some secured extensions via local credit unions and/or banks. The latter will build what you desire (absent the age purchasing tradelines will as well as the utilization benefit) in addition to affording you your money back when you close the aforesaid accounts.
