I have a score of 590 (TU) and 596 (EX) and was approved for this card even though I have a very low income of about $5000 a year and no bank accounts due to being in chexsystems. I was approved right off the bat! So I deposited more than the minimum needed which was $99 and I deposited $125. I have a credit limit of $226, the $99 gave me $200 in limit and the $25 over the min required gave me 1:1 ratio of CLI. Be forewarned that they do charge the annual fee as soon as you activate the card. But the annaul fee is only $29. I'm not a fan of the APR but I won't be carrying a balance on this card (I'll pay in full each month) so it won't be an issue for me. This card gives you free access to Credit Inform which is a credit monitoring service through (I believe) Capital One. You call and activate your membership and they send you out an enrollment packet with a Pin number to use to enroll on the mycreditinform.com site. So with Credit Karma and that I should be covered as far as monitoring goes.
I'm excited to start rebuilding my credit! Thanks Capital One!
xdunlapx's response was:
The only thing that changed was my student loan amount went DOWN. I don't understand why the score would go down when my total debt went down..
If you are paying accounts past when they are due then it will only continue to hurt your score. You need to pay ON TIME every month for all of your accounts for it to improve your score... If you start paying on time each month then it may only take a month or two to start seeing improvement.
guaranteed approval secured card? Cap One secured mastercard. If that one is denied then I'm not sure any company would approve you for a secured card... You'll just have to try and see.
xdunlapx's reply was: