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Please, someone help.

Well, after reading all my post the past day or so regarding the HELOC - we decided that we will not go through with it. I told my husband that he needs to get a credit card and the TL will help bring his scores up - and - which is our ultimate goal - to establish credit for him right now. Well, the Credit Union turned him down for a CC due to lack of "unsecured" accounts on his CR. Do you know of a card he could get using EX - with maybe a $5,000 credit limit?

As of right now, his scores are between 655 & 685 for 3 CRA. I had a lot of old/negative things removed, thus assuming this affected the scores a bit - the problem is, the only things on his report now (besides old good credit), is the mortgage and his car loan - which are in GREAT standards - never late, over 6 years on the mortgage and just about 1 year on the car. The only problem we are having is his debt-to-income ratio. Right now he is at about 43%. But, obviously, if he adds anything - it will go up.

Do you know what type/company credit card he can get. I think he should get at least 2 credit cards - with maybe a higher limit - so that he can use only about 20% or so on each and pay them and start to get a really good TL. Does that sound right. Meaning - I'd rather see him get 2 credit cards with $10,000 limits and use only $2,000 on each of them. [Well, this probably won't work right now.

Do you think he would qualify at Patelco?

What type of salary do you need?

Thanks for all your help over the past few days. He is very grateful - as am I. :wink:

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Here is what has worked for me…

I went to my local bank (I have been banking with them for over 5 years), sat down with the bank manager and explained my circumstances. He sent me over to another branch where a credit card decision maker worked. I explained my circumstances again this time also laying out a request for a $3000.00 limit this year and if I stay in good standings (no late’s) a $6000.00 limit next year.

My goal of the meeting was to get an approval before ever filing out a credit application (at the time my average score was 570). The bank finally said ok contingent on everything I told them about my credit history was accurately reflected on my credit report. I had the CC in hand 2 weeks later… Once I got the card I realized that it was a Chase card resold through my bank, but apparently my bank had some pull with Chase…

Not exactly what your looking for but it is an alternative…

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Well I have to say that I wish it was because I'm a handsome man, but I'm sure that wasn't the case. Local banks still deal with people (although there are not many left) and if you can explain your why's and how's to the right person then you have a better chance.

I question the decision making process and do they offer credit cards to the credit challenged. In fact they didn’t have any sort of sub prime program, it was genuinely on a case by case. I explained that I had no problem being on probation and promised that if I were going to be late (latter then the due date, well before 30 days late that I would call).

But again, I made sure I had an approval before filling out the credit application. The last thing I wanted the bank to do was to pull my credit before giving me an approval. The banker tried to say well let me pull your credit and then we will see. I told him that I was going to refinance in a couple months and didn’t want a useless inquiry hurting my chances.

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Tom S,

Congratulations! :)%

Maybe I should have taken that approach with my bank before applying for their card. Being a credit Union, I thought they will be more flexible. They turned me down, based on my 5/6 year old charge offs :(

I've send them a goodwill, reconsider letter explaning why and how the charge offs came about, how I'm wiser now and even offered to secure the credit line and set up automatic payments.

I'm keeping my fingers crossed and hope that changes their no to YES. :wink:

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Guest jeeptravel

goingunder: The Household Bank Mastercard is a good card. They started me off at $500 and had a BK less than a year filed.

If you hear of any cards good for the $1000's let me know. I am still searching.


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