Credit Cards

Septus

I've had issues with my credit in the past, as I've had very little activity on it. I didn't get in on the rush of student credit card offers when in college, and the two times I applied after, I was declined for having too few accounts open etc.

I've now had a secured credit card open for right at one year. I just checked two of my three credit reports, and there are no negative items, and both report my year-long history with the secured card, and one even showed additional info of no late payments on it. I also paid to check my credit score with Transunion, and it's at 756.

Since I haven't had a credit request(that is viewable by others) in the recent past, should I feel any hesitation for trying my luck applying for a real credit card? I was going to look for cards by credit rating needed, and I've seen a couple. Despite still not being great cards, with high interest rates and annual fees, I feel that it'd be more than worth getting one as soon as possible to shift away from my awful secured card.

If applying now is a good idea, do I close out the secured card, or keep it on for a while to have a second account in good standing?

Thanatos

Call your credit card company and ask them to convert it into an unsecured card.

You're going to want to keep that card open basically forever, as it's your longest-standing line of credit.

DragonPup

A credit score of 756 is better than like 85% of the country. Go for it.

Septus

DragonPup wrote: »

A credit score of 756 is better than like 85% of the country. Go for it.

The report said it was better than 43% of the country.

Thanatos wrote: »

Call your credit card company and ask them to convert it into an unsecured card.

You're going to want to keep that card open basically forever, as it's your longest-standing line of credit.

Their primary link to their list of credit cards, yields one card, which is secured, and they have ass for service.

What about keeping it open for just one extra year, putting a small amount of purchases on it and the rest on a new credit card?

Thanatos

Septus wrote: »

Thanatos wrote: »

Call your credit card company and ask them to convert it into an unsecured card.

You're going to want to keep that card open basically forever, as it's your longest-standing line of credit.

Their primary link to their list of credit cards, yields one card, which is secured, and they have ass for service.

What about keeping it open for just one extra year, putting a small amount of purchases on it and the rest on a new credit card?

You don't actually have to have any purchases on it, you just have to keep it open. I suggest converting it so that you can get your deposit back, whether or not you actually use it for purchases.

Sir Carcass

Thanatos wrote: »

Septus wrote: »

Thanatos wrote: »

Call your credit card company and ask them to convert it into an unsecured card.

You're going to want to keep that card open basically forever, as it's your longest-standing line of credit.

Their primary link to their list of credit cards, yields one card, which is secured, and they have ass for service.

What about keeping it open for just one extra year, putting a small amount of purchases on it and the rest on a new credit card?

You don't actually have to have any purchases on it, you just have to keep it open. I suggest converting it so that you can get your deposit back, whether or not you actually use it for purchases.

Just be careful with the new shit companies are pulling. At best, you'll get "inactivity fees". At worst, they'll close the entire account due to inactivity.