Secured or Unsecured?

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upmyscore
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Secured or Unsecured?

Postby upmyscore » Tue Mar 04, 2014 1:26 pm

My credit score is about 660. I want to get a credit card to improve my score. At this point, will a secured card improve my score?
I'm afraid to apply for an unsecured, get turned down, and have my score lowered.
Is it possible to get a card with this score?


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otter
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Postby otter » Tue Mar 04, 2014 3:31 pm

upmyscore wrote:My credit score is about 660. I want to get a credit card to improve my score. At this point, will a secured card improve my score?
I'm afraid to apply for an unsecured, get turned down, and have my score lowered.
Is it possible to get a card with this score?


Welcome to the forum, upmyscore!

The problem is you really haven;t given us a whole lot of information... is your score low because of a high utilization? Have you missed payments which affect your score negatively? Do you have a thin file? How many cards do you currently have? And most importantly- is this a real (FICO) score or a fake one you got off creditkarma.com or some other site such as that? As a general rule, getting a new card might hurt you in the short term, but in the long time... it should help your credit score..

Can you get a card with 660 (assuming that is a real FICO score? Sure, some people are even able to get decent cards with that score, but without more details (income, derogatory info, utilization) none of us on here could possible be able to answer that question.

The first place to start would be to research and find what goes into your credit score and get your "real" FICO score if you already haven't.

Good luck...
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

upmyscore
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Postby upmyscore » Tue Mar 04, 2014 8:38 pm

I do not have any credit cards. I have had a bankruptcy in the past. As far as I know, the scores were actual FICOs.

RyanMac
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Postby RyanMac » Tue Mar 04, 2014 10:47 pm

660 isn't a bad score by any means but what kind of income do you have? And do you have any other accounts reporting to the credit bureau? I would certainly think you could get approved for an easier to obtain unsecured credit card. The Capital One Vibe Mastercard comes to mind because it can either be a secured card or unsecured card depending on your credit history and score. If you are approved for the unsecured version you get Mastercard Gold benefits such as accident, travel and car rental insurance. If don't get approved for that one they will offer you a secured one and let you know how much you would need to provide as a deposit. The nice thing with that card is that you get 1% back on all purchases and there's no annual fee.

johnchloee
 
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Postby johnchloee » Wed Mar 05, 2014 4:14 am

Many of them are utilizing the credit card for every money transaction. Credit Card Processing is basically a money transaction via electronic access directly linked to the customer's account.
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johnchloee
 
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Postby johnchloee » Wed Mar 05, 2014 4:15 am

Many of them are utilizing the credit card for every money transaction. Credit Card Processing is basically a money transaction via electronic access directly linked to the customer's account.



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