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Will0i0am

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Denied for secured Capital One card. What to do?
I am curious what other options I may have if I am being denied for a secured card? I want to rebuild my credit and I thought a secured card would allow me to do that. I have a credit score in the mid 500's and no current open credit cards (a few in collections unfortunately). I'm just lost right now. I really want to focus on my credit in 2015 and do not know what to do at this point. Any advice on what to do about turning my credit around would be greatly appreciated.

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I would have to propose that your first step be to take care of your accounts in collections. You likely will run into walls until that is resolved. If you can get the money together to pay them off in full, many collection agencies will agree to remove the collections account from your credit report (get that agreement in writing). If you are unable to pay in full, you can stil work with them and either bargain to pay a perentage in full and wipe out the debt (they likely won't remove it from your report if you only pay a percentage) or if you are unable to do that, they will set up a payment plan with you to get it paid off. You are going to have a lot of trouble getting a secured credit card with credit cards in collections. If you continue to apply for them it will only hurt your credit more. I would also search this forum for advice on unsecured credit cards, I know it has been posted several times before, that may be a 2nd route to take. Good luck!

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