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bouchard3775 said: "Hello Everyone!! I'm new to this board (I've never even been in a forum before). I have been on a mission to fix my boyfriend's credit report. I signed up for TrueCredit before I ever even visited this site and I know the scores are not the "true" fico's but right now he is showing a Equifax of 535, Transunion 520, and Experian 529. He has no credit except some crap on their from his ex-wife (which i'm in the process of having removed). He has 2 credit cards that are charged off from when he hurt himself at work and couldn't pay them. One is from Bank One (Chase) the other was Providian. Aside from that he has no credit, so i'm trying to figure out the best way to get something positive listed. I tried to apply for Orchard, but he was denied. I was thinking about trying to get him a small loan, but again he cannot get a loan (even through Beneficial which is one of the worst). I was wondering if there is a possibility that he could use his paid off car as collateral, but i'm thinking it might be too old. He owns a 1993 Mitsubishi 3000GT VR-4 and that is it. Does anyone have any suggestions as to what I should do to get something positive on his credit report? I cannot co-sign because my ex left a bunch of crap on mine i'm still trying to get removed. If anyone has any idea what approach i should take or knows of any banks that would finance him with a car that old as collateral could you let me know... Thanks for all of your help!!"
TScott said: "Was it an Orchard Unsecured card?
My husband's credit is around that range.......figured no one would extend credit with scores that low so he got an Orchard Secured card.
There are other secured ccs out there but Orchard seemed to have the lowest interest rates and lower annual fees. You need $200 minimum to get it.........and basically your credit limit is what you put into it. After a year of payments it can become unsecured.
Other ways that people have mentioned is trying to get a cc or secured loan through a credit union.
Hope that helps
Oh.....and Welcome :D"
94B10 said: "Wow I am surprised, my husbands scores are around that and he was able to get an orchard bank unsecured card. I don't know what all went into the decision it wasn't but a 300.00 limit. A Premier Card is another but there fees are crazy for the amt you might start of with. Also a secured loan at your bank. Putting in so much in your savings and using that as collateral. Hope this helps."
bouchard3775 said: "Thanks for the info. I think I might try the secured card method. I would put savings into the bank that we share but I hate them (Bank of America) and so I have all of my savings is in another bank where only I am listed on the account. He isn't able to get on the account because his ex-wife used some overdraft protection a long time ago on a checking account that they shared and now he cannot even get a new checking account (I swear that woman is evil). Today I did get some offer in the mail from First Premier Bank that requires a 39.00 processing fee and then get a card with a 200.00 limit with like 150 in fees to start. Why don't they just take a couple of sharp stakes and gauge out his eyes, might be less painful, but definately alot cheaper..."