61 People Helped
Member Since: July 2012
I have opened up a Capital One secured card, a Fingerhut account, and a secured personal loan since May 2012. I already have an auto loan that was opened last year. My payments are 100% on time. My score jumped 30 pts, then dropped 25 pts after all these creditors started reporting to the CRAs. Can I assume that after 6 months or so, that my credit score will start to increase again, as long as my payments are on time? My goal is to apply for a house in 2 years, when most of my collection accounts will have dropped off and my inquiries are gone.
Jocelynn55's reply was:
"its hard to listen to people on here who cant type a sentence correct or even close enough to make sence. so im going to ask a expert about my problems"
LOL! This is the funniest comment I've seen on CK. :)
Applied for a red card with a 583 CK score and was approved for $200. I have 2 unpaid public records, 10+ collections (5 which will fall off by summer 2013), and numerous recent inquiries. I don't mind the small CL because I don't usually spend more than that in a month. I'd rather shop at WalMart, but I can't get approved there. Started my rebuilding journey July 2012 and currently have an auto loan since March 2011, Capital One secured $300, SDFCU secured $500, and Citibank secured loan $500 - all with perfect payment history. I plan to pay this Target card in full every month to avoid the ridiculously high interest rate. But I love the 5% discount at the register! Will update if I have any complaints.
Jocelynn55's response was:
State Department Federal Credit Union has a secured Visa without a credit check. It's a rewards card with 6.99% APR. I've posted a lot about this card because it's great, and I'm very happy with it. You can go to the SDFCU website and open a savings account. It'll say on the website how to become a member. Once you have at least $250 in the account, call their loan department and ask to open a secured card. If you apply online, they'll do a hard pull. And they report to all 3 CRAs as a secured credit card. I've only had mine a month, but so far, so good. Good luck...
I was referred to Citibank through a family member. I opened a 12-month CD along with a checking account because the rep recommended it so I could apply for a secured loan to help my credit. Citibank reports to all 3 credit bureaus as a secured loan. No problems so far...
SDFCU reports to all 3 CRAs as a secured credit card...FYI
I received my card in the mail yesterday. I updated my CK info, and it's already showing up as an open account. My score jumped 18 pts because my utilization went down to 31%. Another downside is that my length of credit history shortened. But that was expected. Has anyone else tried this card yet or already have experience with this credit union?
I had a CK score of 566 in July. Got approved back in April for the Capital One secured mastercard with a $200 limit for $49. Used $190 because I needed to, but then paid it in full after reading and learning about credit card utilization and how it affects your score. So now I charge about $60-$70 a month and made a $100 deposit to raise my limit to $300. My score jumped to 588 once this was reported to TransUnion. And yes, they do report monthly to all three credit bureaus (so far). I have a bunch of crap on my report - 2 unpaid judgments from 2010 and 8 unpaid collections (mostly medical, 5 of which will fall off my credit report next year).... The 22 point jump isn't bad for 3 weeks time, I guess. I'm happy with Capital One.
I can't find my previous post. But I was approved last week for $150 with a CK score of 583. When I updated my CK yesterday, the account was already reported as opened.
CK score 583 and approved for $150 after being denied back in August. I think the difference was my utilization.