Unsecured CC, Bad Credit, Please Help

[powder21]

Credit score:
541

CC needed:
Unsecured, initial available credit of $250 after all up-front fees. Preferably no up-front fees.

APR:
Don't care. Will be paying off balance at $50 a month. Definitely more than minimum payment.


Hi. I have an outrageously low credit score due to being a complete idiot for the first few years of my adult life. I already plan on getting a secured credit card which help me (a little) with re-establishing some credit and I already have a co-signer lined up for a consolidation loan to pay off my accounts in collection so long as I graduate. (Can't afford the payments until I have a job in the field)

However, I need to get some repairs done on my car and cannot wait to save the money at $50.00 a month. I can't find any unsecured cards for my credit score without close to $200.00 in up-front fees and since I will be getting such a low initial available credit, this will not work. Please help. I really appreciate it.

-Ryan

[NightStar]

If you have unpaid collections, you should send out debt validation letters to the collection agencies. Dispute with the credit reporting agencies and try to get the negative accounts bumped so your credit score can go up high enough to apply for a secured credit card.

I think you need to do some credit repair before applying for new credit.

[AMJ]

I can't think of any issuer that will grant you a card with a 541 score.

IMO you need to look at a local CU that will give you a secured card. They typically have fewer fees. Next you need to dispute what's on your CR.

[angelray]

try orchard bank sometimes they give credit cards to people with bad credit its worth a shot

[someonesomewhere]

Get a secured CC. It's not like a secured CC yields a lower FICO than an unsecured CC.

[corncob]

Do you have a loan on your car? If not, go to a credit union and see whether you can get secured loan or CC, using the car as security.

[JulyFNC]

If you have a car, don't hesitate and use it as collateral.

[Stevesgrl]

Go for an Orchard Bank (HSBC Card)... I got one with a $300 limit (no up front fees) ... I had a credit score of 533 when I applied and got it! No problems at all!

[CREDITDOGG]

Try First Premier and also Tribute.

[cinnamngrl]

Cars are the worst money pits i know. If you already have debt, doesn't it seem crazy to search around for new credit card? All of the companies mentioned in this thread are predators.

I admit that I don't know anything about your life, but if there is any way to do without a car (at least until you have saved cash for the repairs), then do it. At $3.50 a gallon, even a working car is a drain on your finances.

I went without a car for several years and I was able to manage by getting creative. My credit score went up during this time. I joined this forum a couple years ago and I was able to raise my score 100 points in 6 months.

This is a credit repair forum so I have to ask. Have you tried any of the steps to work on improving your credit? Have you disputed these debts? If you take a slightly longer route, things might actually get better for you.

Companies that give credit to people that can't afford it are not out to help anyone. They make money by bleeding you dry with fees and penalties, then they charge the whole thing off to their stockholders.

Good luck. I hope I haven't offended you.