Viajeque wrote:Can you give me more details on what kind of other unsecured cards of any sort to get? I only have 1 Capital Secured card and I am an authorized user on 2 retails store cards.
Thank you in advance
Have you been receiving any pre-approved offers? That is often a good gage to see if there is interest from the banks in you.
A 650 FICO is still on the low end for a prime card. One option would be to open a secured card with BofA. BofA is offering the 3-2-1 Cash Rewards option on their secured Visa and they almost always unsecure at 12 months. This would be a good way to get into a prime bank whilst earning rewards. Obvisouly, if you burned BofA (or any of their legacy banks: Fleet, MBNA, NationsBank to name a few) in the past I would skip this option. As long as you keep your nose clean, by next July you could very well be in the 700s and you could qualify for a CLI on the secured BofA once it is unsecured. I realize that you asked about unsecured cards...but with a 650 you are not likely going to be approved for any; and if you are, it will likely be at a toy credit limit that would make even Capital One blush.
As someone else stated you may have a shot at a Zync card from Amex. Amex has a preapproval section on their website. If you are interested in the Zync this would be a good thing to check out. Yes, it is a charge card and yes, it has $25 annual fee. The MAJOR benefit to Zync (besides being issued from a prime company) is that lets say you open a Zync now and in January 2014 you try for a Blue Cash Everyday and are approved, it would report as opened 1/2012 thereby instantly giving you an older tradeline. Its called backdating and all the credit boards are filled with info about it so I won't go into detail here.
The other option is to wait until you get to a 670-680 FICO score and try for the Chase Freedom. But as others here have warned, do not open anything else with Capital One. They do have some prime cards and some prime cardholders but to get a decent limit with them you have to be at a high 700 score.