I had bad credit in the past. I have had a secure credit card for 2 yrs. When Should I apply for unsecured?

Question

So I can get my score up without having to pay high fees with the secure card?

Answer 1

You should be able to apply for an unsecured card by now.  Since credit is tight, don't be surprised if you get turned down.  You can always try again.

Go to www.bankrate.com to see if you can get a better deal on a secured card.  Orchard Bank usually has a good plan for secured card holders.

Answer 2

Go get somebody who trust you and with a good credit to cosign with you.  Your chances of getting approved will be higher.  And in that way your credit will be pulled up and it sure will improve.

Learn more about credit:  http://www.happygodebtfree.com

Answer 3

bad credit follows you for 7-10 years...

Answer 4

Back when I was counseling bankruptcy clients, I would advise them to apply for an unsecured card after using a secured card for about 2 years and aways paying it on time.

The problem is that right now credit is very tight and what was true in the past may not hold true now.  If you decide to try, make sure you apply for a card that is specifically for people rebuilding their credit.  You should be able to find cards with no annual fee but with high interest rates.

If you get turned down, wait another year and try again.  Be careful of trying too often since each inquiry drops your credit score a bit.

Good luck.

Answer 5

Contact Experian, Equifax  or the other 2 credit reporting agencies to get your credit report.  You are entitled to a free one each year, or if you are turned down for a credit card.  If there is anything bad on it, try and make small payments on it.  After 7 years, it comes off.  Apply for a store card first, like JC Penney, Macy's, or whoever you have in your area.  Apply for citibank or capital one.  They'll start you off with a card with a low amount.  Make the payment every month.  They'll report your payment history to the credit card co. and it will be put on your credit report.  Then, you will literally see all the credit card offers, especially Discover, coming in.  Avoid the "credit score" where they will give you your score and a credit report.  You only need that if you are going for a mortgage.  Don't worry about that now.

Answer 6

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