Thank You HJM. Again I was approved for both the FP and the Orchard Card. A couple of factors went into my decision to obtain the FP first and then the Orchard card (Keep in mind I intend to accept the Orchard card as well). Firstly as a secured card the Orchard Card requires a minimum deposit of 200 bucks to have the line of credit extended to me, versus paying the 30 to have the FP now and paying the balance down once I get the card and the payment is due. Also I understand that there are very few cards at this point in my credit situation that are not going to require fees out the yin yang, so I went for the unsecured card first and then the secured as well. Again I'm getting both cards and I'm fairly happy with my FP decison especially looking at the interest rates, customer service and even fees of other cards such as the Access Visa etc.

The Orchard Bank card is a lot better than the First Premier and Tribute cards. The Orchard Bank card doesn't charge you any fees except for an annual fee, that's it. Although it doesn't graduate to an unsecured card, you will be able to get approved for unsecured cards from other lenders thanks to the history you have build with the Orchard Bank card. I seriously would've not applied for the FP and Tribute cards knowing that there are better cards out there.

Thank You Very Much for the advice. Unfortunately all three of the previous credit cards are with collection agencies. I called and accepted the offer on the first premier today so I'll be paying the 30 dollar one time processing fee on Wednesday and getting the card. $143 one time acceptance fee, $7 monthly fee and $49 annual fee. I just applied for A Tribute card (Previously an Image visa Card) And I am waiting for the response from that. I'm still debating on taking the Orchard Secured Card even though I was approved. Can anyone offer more feedback on that particular card/company?? Thanks!!

Welcome to the rebuiding game! I have been in your shoes before and I know it's tough just to get started. I see that you only have 3 charge-offs on your credit. Did you maybe think about ditching the counseling company and settling those yourself? Have those accounts gone to a collection agency yet or are they still with the original creditor? If they are with the original creditor, try to make some sort of payment arrangements with them and pay them like $20 a month if that's all you can afford.

Regarding the applications, I honestly would lay-off applying for anything else for about 6 months. You just got the 1st Premier Card so I would just work with that one for the next 6 mths to a year. Your CS isn't going to change overnight, but with solid payment history and consistancy you can build it up in no time.

Seems like you're not ready to apply for the BoA secured card yet. I would check to see if Orchard Bank approved you for their secured card. I would wait 3 months and apply for an unsecured HSBC card. HSBC Bank will deny your app if you apply with them more than once every 90 days. Orchard Bank is a sub-division of HSBC Bank and that is why you should wait 3 months. I would go ahead and apply for the Capital One card because it's a good card and it will grow with you.

Good Luck

Hello Everyone. I'm in the process of finally rebuilding my credit and could really use some advice on what cards would be great to get into and any tips or pointers on effectively establishing some positive credit. My credit scores are currently as follows

TU:491
Experian:490
Equifax:531

Pretty bad I know lol. I applied for a First Premier Gold card, was denied and then re offered another First Premier Card that I'm now in the process of obtaining. 9.9% apr with a $200 credit limit. I applied for a Centennial card and was denied (Probably because it's also a First Premier Card and I'm already getting one???) Other than that I have yet to apply for anything else. The suggested credit for the First Premier card I applied for was 483. I also looked into an Orchard card and they wanted a $200 deposit for a $200 limit so I believe I was approved for that also. I checked into the Capital One Standard Platinum card as well but didn't apply. Are there any other cards you guys would recommend I could get into given my current situation.

By the way I have three accounts charged off on my report from BOA, JCPENNY, and Credit One. I'm currently in the process of working with a credit repair company to have them cleaned up and as well as my inquiries so again I'm trying to establish positive credit here to overcome the history of negative credit. Card suggestions and general advice appreciated!!!! Thank You!!

Hi punkarella. HJm provided you with the most definite route to take. I am just going to provide you with some helpful links while you are here with us. They actually fall into your category. Also, it will get you more familiar with the site and the way we do things here. Until then, please keep posting, we love to see posts from members especially when they have questions. I sent you a message in your mailbox about the merge, I believe you will benefit more in this thread.

1. Difference between New Topic and Post Reply https://www.financeglobe.com/SocialNet/forum/showthread.php?t=607

2. Short cut to How to Post https://www.financeglobe.com/SocialNet/forum/showthread.php?t=532

3. BK friendly and unfriendly cards https://www.financeglobe.com/SocialNet/forum/showthread.php?t=538&highlight=friendly+cards

4. FG Guide on How to Repair Your Credit https://www.financeglobe.com/SocialNet/forum/showthread.php?t=560&highlight=fix+repair

Hope this helps!

Are those scores your FICO scores? Did you purchase them from myfico.com?

Looking at the HSBC and Capital One cards you applied for, those sound like cards that are for consumers with excellent credit. HSBC's and Capital One's "rebuilder" cards are Mastercards that don't have a rewards program. You have to wait about 4 months until you apply for one of their cards again because lenders don't like it when consumers apply for one card after another in a short period of time especially when the applications result in a denial.

In the meantime, I'd suggest saving up and applying for a secured credit card either through BOA or a local credit union. Also, don't apply for too many cards because new applications/inquiries and new accounts within a short period of time hurt your score and don't look good on your credit reports.

I filed for bankruptcy in August of 2007 (thanks to my irresponsibility, on top of parents using my credit to get ahead!!!). I haven't applied for anything up until now, because I had to straighten out a whole bunch of nonsense on my reports (accounts not showing up as being discharged, accounts not belonging to me, so on and so forth).

Anyways I would like to start re-building my credit. I applied for a Household Visa and Cap One card (which was included in bankruptcy) awhile ago and was denied. So I gave up for awhile and decided to apply for that darn Hooters card over the phone, because I heard it's a pretty easy card to get after bankruptcy. I was told that I would be contacted in 2-3 weeks. I also applied for a Target card (online) and was told there had to be additional processing. Right now my credit scores are pretty low (Transunion 581, Experian 540 and Equifax 618). Does anyone think I stand a chance at getting approved for anything at all right now? Should I just go and save for a secured card?

Thanks

your welcome

Thanks

Kiejon, can you post the link that you got this from? You have to give the author the credit they deserve.

http://www.studentmarket.com/student-credit-card-tips-for-building-and-maintaining-a-strong-credit-history.html

Kiejon, can you post the link that you got this from? You have to give the author the credit they deserve.

http://www.studentmarket.com/student-credit-card-tips-for-building-and-maintaining-a-strong-credit-history.html

Kiejon, can you post the link that you got this from? You have to give the author the credit they deserve.

:white-flag:Pay on time. Send a payment check well before the due date to avoid late fees and finance charges. Your credit score, a numerical reputation of a consumer's financial creditworthiness, used by lenders to determine whether they should lend money to a person, and if so, at what interest rate, can most adversely be effected by late payments, collections, and bankruptcies.

Stay within your credit limit to avoid penalties and reserve available credit for emergencies. Demonstrate that you have capacity, the ability to pay back your debt, by keeping your account balances less than 50% of your available credit.

Limit the number of credit cards you acquire to help limit your debt exposure and simplify your record keeping. Be aware that excessive credit inquiries over a short span of time may be interpreted as an indicator that you need more credit due to experiencing financial problems.

Try to pay your balance in full each month. Otherwise, make sure you send more than the minimum payment required.

Set your own credit limit and start to establish a savings fund for emergencies,

Use credit wisely. Ask yourself the following questions before purchasing with credit: Is this something I really need, and do I need it now? Do I have the ability to repay? How long will it take me to repay? How much will it ultimately cost me?

Be aware of the terms and costs when shopping for a student credit card.

Review your statements carefully and immediately inform your credit card company, in writing, if you notice an error on a billing statement.

Review your credit reports periodically and check for inaccurate, incomplete or outdated information. Dispute this information, in writing, with the credit bureaus.

Be honest. If you can't pay your bills on time, contact the creditor and explain the situation. Creditors will often work with you to come up with an alternate payment arrangement. You can also contact Consumer Credit Counseling Service of Southern New England, Inc. for assistance at 1-800-208-2227.

Always think ahead. Be proactive, not reactive, about your finances. Plan for different obligations now and after graduation.

Be organized by filing your statements in a separate folder.

Keep a list of your credit card account numbers and phone numbers in a safe place in case a card is lost or stolen.

Report your card as lost or stolen as soon as you notice it's missing.

Immediately inform your credit card company of an address change.

Maintain a savings and checking account

Establish your telephone bill under your name. Remember, you are responsible for additional people on your telephone bill.

Develop a steady work record.

Establish a credit card under your name. Use it for budgeted amounts and try to pay in full each month.

Avoid opening joint accounts with a friend or significant other. Protect your account numbers, personal identification numbers (PIN's), and social security number. Do not let others use your cards and don't use your cards to pay for other people's purchases!

Try not to graduate with credit card debt. If you do, make sure you will be able to afford that debt in addition to other new expenses (i.e. student loan payments, rent, utilities, etc.).

Consolidate your credit card debt, if you have any, by transferring high interest rate balances to 1 low interest rate credit card. Apply the interest rate savings towards your outstanding balance to pay your debt off more quickly.

Ask for a lower interest rate if you have credit card debt. Creditors will be most flexible if you have demonstrated responsible credit behavior.

Be sure to pay your student loans as agreed. This long history of paying your bills on time will also help you build a credit history and improve your credit score.