- Centurion Member
- Posts: 179
- Joined: Fri Apr 12, 2013 4:47 pm
- Location: Indianapolis, IN
Agreed. My dad has awful credit and had to get a card with CreditOne. They gave a really low limit (less than $500) and the fee is $100/year, billed monthly at $8.25 and the first year they give you a "break" at $75. The interest rate is 25%. Luckily, this isn't a secured card, but that's the only thing it has going for it.
I'd recommend Capital One's Newcomers card. It has a 24.9% APR, but it also has 1% unlimited rewards, so at least you get something. No annual fee. It was my first normal card. Unfortunately, I only got one CLI, and that was an automatic one for accounts enrolled in their "credit steps program".
Once your credit is on the mend for 6-9 months, I'd recommend Discover it (for rewards), Amex Green (for status and even emergencies, since you could get NPSL), and for everyday spending I'd recommend a card with decent non-rotating rewards like a BofA 1-2-3 or Amex BCE. You also can't go wrong with Chase Freedom--it's also available as a Visa Signature Card, so you could have a high limit and nice perks.
Scores on the mend...
FICO: 650 (Discover/TU, 6/23/2016)
Cards I Use Citi Double Cash, Chase Amazon, Capital One QuickSilver
Sock Drawer Discover IT, Citi Diamond Preferred, AE Visa, QuickSilver One, Walmart CC, CareCredit, CreditOne (keeping for history for now)
Short Goal Reach 680