Hi, my credit score is 604 through my bank app which is US Bank
When I check experian it shows
me 3 different scores however,
only shows one out of 3 I can see
Anyway, I had an American Express credit card that got sent to collections due to missed payments and closed the card was tied to my one of my parents cards and thus they can't use their American Express card as well,
wasn't being the most responsible when it came to the card
I was wondering if I could apply for a secured credit card to rebuild my credit? I tried to apply for discover secured credit card that got turned down when it came to see if I'm pre approved
I've been looking into applying for a capital one secured credit card by seeing if I'm pre approved or not
Looked into BoA as well
Or will I have to wait 7 years?
Until I'm able to get a credit card
Also been looking into a credit union too
Hopefully, this question makes sense
Would I be able to get a secured credit card?
byu/Blues5389 inCreditCards
Posted by Blues5389
2 Comments
definitely don’t need to wait 7 years for secured card. collections item will stay on report but secured cards are way easier to get approved since you’re putting money down as collateral.
capital one secured is good option, they’re pretty lenient with approvals even with collections history. credit unions are also solid choice – they often more willing to work with people rebuilding credit than big banks. maybe try few different ones since approval criteria varies between institutions.
with 604 score you should have decent shot at getting approved somewhere, just might need to shop around bit. the amex collections definitely hurts but secured cards are specifically designed for situations like yours.
You will probably get approved for a secured card from Discover, Bank of A, or Capital One, even with your ongoing collections. Try using their preapproval tool to check which offers are available for you.
People not getting approved for secured cards usually fall into the deep subprime citeria (below 500), not someone with a score in the 600s.