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Question By
FrustratedInWy

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better odds for unsecured vs secured cards? how does that make sense?
ok i know my scores are not exactly great but im working on them (599, 632, 651) but i just dont quite get the approval odds for these credit cards. with my scores how can my odds be better for an unsecured card than they are for most of the secured cards? no i havent applied for any yet even though ck telling me i need to because i dont want to rush into applying for the wrong card - been without one over 10 yrs now so no need to rush it

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If the approval odds are not making sense, then it would be best to ignore them. Some subprime unsecured cards issued by predatory lenders are actually easier to get sometimes over a secured card from a more reputable lender.

I would advise you to check out Capital One's prequalification site and see if you can get approved for one of their cards, even if it needs to be secured. You said you have not had a card for 10 years. Your scores are most definitely suffering because of that. If you have any concern about raising your credit score you should find at a minimum of 1 credit card asap, 2 or 3 total would be better. Find a card that reports to the credit bureaus. You will see a big increase in your scores when your first card reports.

Reply by
FrustratedInWy

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Thank you for looking out. I have been all over doing the prequals and cap1 had been preapproving me for 2 of their unsecured cards, discover preapproved me for one, boa preapproved me for 4 of their cards and so on just trying to get an idea of where i stand. After hurting myself at work today i realized that i really should bite the bullet and just apply for one in case of an emergency so i called cap1 and just got approved for the quicksilver1 cash rewards with a $300 limit to get me started! Nice to know that i am headed in the right direction and have something to work with! Thank you.

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