Whats a good card to start with

joedirt · 02-01-2008, 07:17 PM

Dont even know if I would qualify. I have not had a credit card in 10 years. What the general opinion of a starter credit card. Im at TU 618 EXP 586 EQU 516. I was thinking maybe a Sears card or is a Mastercard or Visa better??

jlynn · 02-01-2008, 09:11 PM

Edited off my really stupid question.

What is reporting on your cr's now that is generating a score? Any positives? If so, what kind?

joedirt · 02-02-2008, 08:35 AM

3 yrs car loan been perfect jcpenny card years ago was perfect but I closed it still reporting as paid as agreed closed by consumer. thats it for good stuff. got a few medical collections that im disputing now. I have not applied for credit in 10 years so Im kinda nervous that this will make my score drop again. But Im told I have to get credit to increase it.

jlynn · 02-02-2008, 09:24 AM

You will receive a score drop initially from the inquiries and the new credit, but you are correct you must take the hit to move forward with credit.

Some might shoot me here, but I would try an Orchard (HSBC) card first. Its generally a low limit card of about $300, but it is designed for rebuilding, and you won't get hit with $295 of start up fees like alot of the really really crappy cards.

lhslancers · 07-19-2008, 10:05 AM

Good friend is in a similar if not a worse situation than the OP. Over a dozen unpaid medical collections. No record of any revolving or installment tradelines at least in this reincarnation.

She was able to get an Orchard $300 MC 8.9% APR no fees and a Cap One MC $300 $39 AF no interest first six months then 13.9%.
Granted these are quite subprime but they will help to build her credit and there are no fees to pay online.

panthernut9 · 10-06-2008, 03:05 AM

Not sure for that and I am asking the same but not really.
I just had a BK discharged and have only checked TU score of 540

. Will be checking the others tomorrow after depositing cash in to the Bank to get the others.

jlynn · 10-06-2008, 07:46 AM

My recommendations still apply in your situation panther.

centex · 10-06-2008, 09:23 AM

I'd exhaust the secured options before looking at Orchard...you really want a bank that will grow with you, and Orchard cards WON'T do that. Higher limits beget higher limits...