My Credit Lines

This page was put together to show which new lines of credit I’ve been approved for since starting to rebuild my credit.

Ever since I started rebuilding back in October of 2015, I have obtained four new unsecured credit cards and a secured personal loan. I’ve organized each in the order which I obtained them.

Before we get started, here are some definitions:

  • Credit Karma Approval Odds – This is a system which they use to determine your odds of getting approved for a certain credit card. The data is based on other users who have gotten approved with similar credit to yours.
  • Approval Time – This is how long it took for me to get approved for the card in question.
  • Credit Scores – These are my credit scores with the credit bureaus that I checked at the time.
  • Hard Pull – This is a yes or no question and will either be a yes or a no.
  • Automatic Credit Line Increase – This is the time it will take the credit card issuer to issue you an automatic increase of your available credit.
  • TU = Transunion
  • EQ = Equifax
  • EX = Experian

#1. Credit One Bank:

credit-one-bankCredit Karma Approval Odds: Fair
Approval time: 7-10 Business days
Credit Scores: 616 (TU) 613 (EQ)
Credit Limit: $300 ($450 Current Limit)
Hard Pull: Yes (Experian)
Credit Line Increase: After 5 on time payments

I found out that I qualified for credit one bank through Credit Karma initially when its credit card system told me that I had new opportunities for credit available. I was able to boost my credit score a bit when I got CBE Group to remove a derogatory remark from my report, this helped with the approval process I’m sure. I also got Midland LLC to remove another negative item as well.

This was the first card that I applied for in about 2-3 years. I didn’t get my hopes up when applying cause I thought that I most likely wouldn’t be approved. Sure enough, I was approved for this unsecured after I waited for their response. The APR on this card is about 24.15% and it has an annual fee of $75 for the first year, then $99 per year thereafter.

#2. Capital One Quick Silver Rewards Master Card

quick-silver-master-cardCredit Karma Approval Odds: Fair
Approval time: 7-10 Business days
Credit Scores: 607 (TU) 604 (EQ)
Credit Limit: $300 ($750 Current Limit)
Hard Pull: Yes (All Three)
Credit Line Increase: After 5 on time payments

I applied for this card about a month after I received my Credit One Bank card. I decided to give it another shot and since I had the same type of odds as I did for my first card.

This is a great rewards card and comes with 0% APR for the first 9 months. However, it does have an annual fee of $39. After that, interest on this card was about 23.15%. At the time I started using this card, they had a 20% off Uber sale running which was awesome.

#3. Capital One Platinum Master Card

capitalone-platinum-master-cardCredit Karma Approval Odds: Fair
Approval time: Almost Instant (Called in)
Credit Scores: 607 (TU) 604 (EQ)
Credit Limit: $500 
Hard Pull: Yes (All Three)
Credit Line Increase: After 5 on time payments

After a few months of studying and doing my research to help me manage my credit properly, I decided to apply for this credit card based on Credit Karma’s recommendations as well. The APR on this card is 24.99% with no annual fee.

At the time my score had dropped a bit due to me paying off my car loan completely. After I applied I decided to call in so I didn’t have to through the issue with my fraud alert. Once I called in I got in touch with a manager who was able to speed up the process.

Side note: Apparently when you pay off a loan completely and that account is closed in good standing, it still affects your credit score. The reason behind that is due to the fact that once the account is closed, it lowers your payment history age which is a major contributing factor to your overall credit.

4. Springleaf Financial (Secured Loan)

spring-leaf-financialCredit Karma Approval Odds: Very Good
Approval time: Almost Instant (Called in)
Credit Scores: 605 (TU) 596 (EQ)
Credit Limit: $7,100
Hard Pull: Yes (Experian, Equifax)
Credit Line Increase: N/A

I applied for a Springleaf loan after I decided to get serious about my cleaning up my credit. Although they advertise unsecured loans, after telling them how much I make based on my scores, they wanted collateral.

After some considering, I decided to do it. The process was quick and easy, however, the interest was rather high on this loan. APR on this loan is 27.74% however, I plan to refinance it over the next couple of months once my score improves more. The good thing about this loan is the fact that you do not get penalized if you pay your loan off in full ahead of time.

5. FingerHut Store Card

finger-hut

Credit Karma Approval Odds: N/A
Approval time: Almost Instant (Called in)
Credit Scores: 611 (TU) 562 (EQ)
Credit Limit: $800
Hard Pull: Yes (All Three)
Credit Line Increase:After 3 on time payments

I got an approved offer in the mail for the second time in about 6 months from FingerHut so I decided to give it a try. The magazine said that I was approved for $500. I decided to give it a shot and started the process online. Once I completely my application, I got a message saying that I should call in to confirm some information.

Talked to the representative and ended up being approved for $800. I was kinda surprised at this one. The APR on this store card is 25.15%.

Overall:

These credit cards are relatively easy to get for those with not so perfect credit. In the rebuilding phases sometimes you have to take higher interest rate cards in order to get your foot back on the right track.

If you have an issue with high interest, just be sure you’re paying your cards off in full before your statement is due. Fixing your credit is not an overnight thing so it does take time.

However, you should be in this for the long run.