Cred.Ai Credit Card Review (2024): How It Works, Pros & Cons

Cred.Ai Review Featured Image
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“A credit card spending experience.”

Those are words you don’t hear from Chase, American Express and Bank of America. And that’s intentional, because what offers is different from the competition.

In this review, I’ll simplify what the company offers, answer common questions, and help you decide if the new “credit card spending experience” they promise is good branding or a worthwhile product.


How it works: offers both a checking account and a credit card. You could choose just one product or the other, but they're not very good products individually — they're designed to work best together.

How it works is that you put money upfront into the checking account and can then make purchases with the associated credit card (the Unicorn Card). The amount you can spend is based on how much you add to your checking account. (You can also link an external bank account to increase your spending limit.)

Once you make a purchase, will set aside funds from your checking account or linked bank account to pay off the balance. If you try to spend money you don’t have, will decline the transaction.

This setup enables to report an open revolving credit line to all three major credit bureaus, even though it acts more like a debit card (in that it prevents you from spending money you don’t have).

Who it’s for: is a good card for people who want to build credit without the risk of going into debt (because it’s impossible to overspend on the card). It’s also a good short-term and safe path for those looking for a quick boost to their credit score.

However, because it offers very few features beyond credit reporting — there are no cash-back rewards or points — it’s not a good long-term option.

Alternative: If you're good at managing your spending, consider getting a secured credit card from a big bank instead. This type of card can be upgraded later, which helps you grow your credit without needing to keep making cash deposits just to maintain your credit line.

  • Prevents you from spending more than you can pay back.
  • Reports both on-time payments and credit utilization rate.
  • Can be used at over 55,000 ATMs for free.
  • Guarantees you will never pay fees or interest.
  • No hard credit pull required to apply.
  • Card doesn’t offer cash-back or have a reward points program.
  • No interest is earned on the cash held in your checking account.
  • You need to keep using and funding the account to get credit benefits.
  • There’s no option to upgrade for better rewards. Overview

If you’re brand new to what offers, here’s a breakdown:

  •’s core offering is a combination of a credit card (called the Unicorn Card) and an FDIC-insured checking account.
  • The spending limit on the Unicorn Card is set by how much money is in your checking account, so the card acts more like a debit card than a traditional credit card.
  • The amount of money you keep in your checking account, and whether you utilize direct deposit, determines the credit limit of the account that gets reported to the credit bureaus. Users report that the limit ranges from $500 to $1,500.
  • So why not just call it a debit card? With this setup, is able to report both on time payments and your credit utilization to all three major credit bureaus, the same as a traditional credit card does.
  • doesn’t wait until your payment due date to pay off the card. Instead, it uses the funds in your checking account to pay down the balance throughout the month. As a result, reports a very low credit utilization rate to the three credit reporting bureaus (users report having a 3% or less credit utilization rate). If the funds are not in your account, will decline the transaction.
  • You will never pay fees for the card, or any interest on balances owed. This isn’t because it’s a 0% APR card but because the way the card functions prevents you from spending more than you can pay back.
  • There’s no minimum FICO score required to apply. There’s no hard pull either. You’ll be asked about your income. 
  • You can choose to sign up only for the Unicorn Card and not the bank account. In that case, the Unicorn Card acts like a traditional credit card, with some of the extra features we’ll mention below and an APR that will vary depending on your credit score. By itself, the card isn’t worth considering, as there are much better products available. FAQ

Before we get into’s features, let’s answer some of the common questions about the Unicorn Card and the checking account. sounds like a secured credit card. What’s the difference?

Secured credit cards — where you deposit a certain amount of money onto the card, and then can spend up to that deposit amount — have been around for a while, and they help people build credit.

Along with some unique features of that we’ll discuss below, some of the key differences between what offers and secured credit cards are:

  • You can spend up the utilization rate of a secured credit card, while that’s not possible with
  • Many secured credit cards report very low credit limits (e.g., $500) while will report up to $1,500.
  • It’s still possible to miss payments with a secured credit, while handles this for you.

We go into more detail about the differences later in the article.

What are the terms of the credit card? will report a credit limit of between $500 and $1,500. But don’t confuse this credit limit with how much you can spend. The credit limit is the amount of revolving credit that reports to the credit bureaus. The spending limit you’re assigned on the card will vary based on your existing credit score, income, and ongoing deposits. 

The amount you can spend is determined by how much money is in your checking account. will limit you to only spending what you can pay back (i.e., how much money is in your checking account).

It’s like a fail-safe credit card, right?

Yes. As hard as you may try, you can’t get yourself into financial trouble with the credit card combined with the checking account. If you try to spend more money than you have, will deny the charge. While you don’t get the same bells and whistles as with other cards (like cash-back rewards), it’s useful in that it can build your credit score without the risk of incurring debt.

Can you be denied?

While a credit score isn’t required to get the card, you can still be turned down. They’ll want to see you have some income (which they’ll ask about during the application process), as making consistent deposits, either from a linked bank account or via direct deposit, is important to receive the benefits from the card.

Can you use the Unicorn card as an ATM card?

Yes. You can use the Unicorn card as an ATM card. offers free ATM withdrawals from over 55,000 ATMs across the U.S. You can locate nearby ATMs in the app.

ATM withdrawals are classified as cash advances. However, similar to purchases made, you will not pay interest on these cash advances. Instead, the money you have in the checking account will pay these off.

Is a bank?

No, they’re a software company. The bank account and credit card are issued by Wilmington Savings Fund Society, FSB (“WSFS Bank”). The credit card is issued by WSFS Bank through Visa.

Is direct deposit required?

No, but not enabling direct deposit will limit some features offers, like the ability to access your paycheck ahead of time or how much will report to the credit bureaus. You’ll also have to constantly replenish your account if you wish to continue to use the card.

Is the credit card only — without the connected checking account — worth it?

Not really. While has some unique offerings, a modern app and no annual fees, the credit card has no cash-back rewards.’s product is geared towards those who want to build or optimize their credit score without changing their daily spending habits, or are looking for a high-tech debit card replacement. There are better credit cards out there for people not in this demographic. Unique Features

With an understanding of’s core offers, let’s discuss some of its unique features.

  • Flux Capacitor. Link your direct deposit to your account and Flux Capacitor will enable you to access not only your paycheck but any future deposit up to two days early, as well as help you budget for upcoming debits. 
  • Stealth Card. Similar to how one-time use credit card providers like work (we discuss this in our Swagbucks hacks article), will give you a working credit card number and CSV code you can use on websites you don’t trust. So, if the website got hacked, your credit card information wouldn’t be able to be reused.
  • Cred Optimizer. This is the technology that manages payments from your checking account to your credit card, so you’re getting a low credit utilization rate reported each month.
  • Check Please. Authorize a transaction ahead of time, such as a restaurant charge, with to avoid getting it declined. In a way, this helps you avoid the embarrassment of a declined transaction. 
  • Friend & Foe. Allows you to approve or deny certain transactions. You have the option of selecting merchants to approve and deny. Ideal for those pesky subscriptions you’re finding it impossible to cancel.
  • High Security. The ability to create pockets of time where all or certain transactions will be approved or denied. vs. Secured Credit Cards

Featurecred.aiSecured Credit Card
Type of card:Combination of credit card and checking account.Credit card secured by a cash deposit.
Credit limit:Based on funds in checking account.Based on your initial cash deposit.
Credit reporting:Reports to all three major credit bureaus.Reports to all three major credit bureaus.
Minimum FICO score:No minimum FICO score required.Usually requires a minimum FICO score.
Usage:Acts like a debit card linked to your checking account.Functions like a regular credit card with a deposit as collateral.
Overdraft protection:Declines transactions if funds are insufficient.Typically has overdraft protection for a fee.
Rewards:Limited rewards program or none.Some secured cards offer rewards programs.

If you have poor credit and need a quick boost to your credit score, is most likely your best option (compared to a secured card). reports up to $1,500 to the credit bureaus, while secured credit limits tend to run much lower.

All other factors being equal, the higher credit limit will provide more positive impact to your score.

But if you have a longer time horizon — like when you have no credit history and are looking to simply get a starter card to begin building credit — you want a card you’re going to keep long-term.

What’s unique about a secured card is that you can upgrade your card down the line, switching from a secured card to unsecured card. For example, you can go from a Capital One Quicksilver Secured Cash Rewards card to another card in the Capital One ecosystem that earns rewards and has no annual fee.

The average age of your credit lines is an important metric for scoring models. By upgrading to an unsecured card from a secured card (which Capital One allows after you’ve proven to use your card responsibly), you keep your oldest lines open and active in the future.

In contrast, if is your first card, there’s no upgrade path. 

So, you’re going to end up keeping the account around just to maintain your credit history, but there’s really no long-term benefit (i.e., no rewards, a low credit limit, and having to keep money in your checking account). 

You’re better off having an unsecured credit card from a major bank be your oldest credit line.

This is why I prefer more as a short-term credit fix than a first-time card. 

Eventually, you’ll want to close your account, as there are better alternative cards. But that will be difficult, because if is your oldest card, you’re going to see your credit score decrease as soon as you close it. 

For more information on alternative options, see our guide on the best starter credit cards for building credit. vs. Chime Credit Builder

Like, Chime is a tech company that offers products through an FDIC-insured bank account. They have a similar offering to, called the Chime Credit Builder credit card.

Here’s how Chime’s Credit Builder works:

  • To apply, you need a Chime spending account and $200 of direct deposits over the past 365 days. Direct deposits must come from an employer, payroll provider or benefits payer via ACH.
  • Once approved, you can spend on your Credit Builder credit card up to the amount of money that’s secured in your Chime spending account. This money is held as collateral and cannot be withdrawn.
  • Your balance on your Credit Builder credit card is paid off from the balance on your Chime spending account.
  • While Chime reports on-time payments to the three major credit bureaus, they do not report credit utilization.
Direct depositNot requiredRequired
Annual fee$0$0
Reports on-time paymentsYesYes
Reports credit utilizationYesNo
Early access to paycheckYesYes

While Chime takes a similar, fail-safe credit card approach — making sure you can’t overspend and that payments are made on-time — there’s a limit to how much of an impact it will have on your credit score, as it only reports on-time payments.

All things being equal, you’ll see a quicker boost to your credit score using, as your credit utilization rate also improves with the product.

For an in-depth look at how Chime works, read our Chime review. Alternatives

Extra offers a credit building “debit” card with a dynamic spending limit that’s linked to the funds available in your primary checking account. This limit is referred to as “Spend Power,” and is reported to Equifax and Experian (but not to TransUnion).

The major difference between and Extra is that the latter has a hefty $8 per month fee (or $12 per month if you opt for the plan that offers reward points).

Learn more about how it works in our Extra debit card review.

Credit Strong offers three different credit builder loan products. One is their “Instal” product, which allows you to add a $1,000 installment loan to your credit report for a cost of $15 per month. Consider Credit Strong if you want to diversify your credit mix with an installment loan.

Read our Credit Strong review to learn more.

Self offers a variety of credit-building products, including four types of Credit Builder accounts and a unique secured credit card that doesn’t require an up-front deposit or hard credit check.

The cost of their credit building loans ranges from $25 to $150 per month, and at the end of the term, you get back the money you paid, minus interest and fees. While Self’s services are beneficial for improving poor or fair credit history, they come with high-interest rates and may not be the best option for those establishing credit.

Learn more about how it works in our Self Review.

Is the Credit Card Right For You? is really a fail-safe way to improve your credit for those who need a boost. 

If you’ve struggled with debt in the past or have been unable to build up your score, is a solid overall product offering. The key is using the combination credit card and checking account.

As a standalone credit card, doesn’t have a lot to offer. While there are no annual fees, there’s no cash-back and the card carries a high APR.

Visit to learn more.

R.J. Weiss
R.J. Weiss, founder of The Ways To Wealth, has been a CERTIFIED FINANCIAL PLANNER™ since 2010. Holding a B.A. in finance and having completed the CFP® certification curriculum at The American College, R.J. combines formal education with a deep commitment to providing unbiased financial insights. Recognized as a trusted authority in the financial realm, his expertise is highlighted in major publications like Business Insider, New York Times, and Forbes.


    1. So let me see if I understand;

      I deposit, say, $1000 in my Cred.AI Account

      I then charge dinner with the card for $900. Credi.AI Pays it. But I only have ‘access’ to $900. Then CrediAI takes $100 out of my Credi.AI account on a specific date to pay off the charge?

      If so this means I can simply replace my ATM card with Cred.AI and make all my standard purchases yet they get treated as charges and credit history?

      1. When you deposit $1000 in your Cred.AI account and charge dinner for $900 with your Cred.AI card, cred.AI will deduct the $900 from your account balance to pay off the charge. Leaving $100 left. This deduction happens quickly because they’re trying to keep your utilization rate low.

        You can now only spend a maximum of $100 moving forward, so you’d need to replenish your account if you want to continue to use it.

        Please let me know if that answers your question.

        1. Let’s take that $1000 deposit with $900 spending example. It’s stated in the article that reports the credit limit of $1500. Does that mean the credit utilization reported to bureaus is $900 of $1500 (60%)? If so, how could users report having a 3% or less credit utilization rate? Not sure how the credit utilization rate is calculated.

        2. Hey Sorawit,

          If you deposit $1,000 and spend $900, the credit utilization would typically be calculated as $900/$1500, which is 60%.

          However, due to’s approach of paying down the balance throughout the month using the funds in the linked checking account, the credit utilization reported can be as low as 3% or less. This is because the balance gets paid off frequently, and sometimes instantly, ensuring that at any reporting time, the utilization remains low.

    2. So i applied for the discover it card and was denied. I don’t have bad credit (i mean i checked and it doesn’t seem like it) and I’ve never had a credit card before. I have really good financial habits and won’t over spend but i have a lot of student loans so maybe bad debt to credit ratio? Ive Always paid on them on time. So what’s my best option to build credit?

      1. Hi Ria,

        Thank you for sharing your situation. It can be frustrating to be denied a credit card, especially when you feel like you have good financial habits. Here are some thoughts on your situation.

        Firstly, you are correct that most banks prefer to see a high credit score for the major cards, I looked, and this suggested credit score is 670 or higher for the Discover It. If you’re still in school and have yet to start making payments on your loans, your credit score won’t be as high as you might hope, as you don’t have that payment history to demonstrate responsible credit usage.

        One option is to see if you can become an authorized user on a parent’s account. If they have a high credit score and good credit history, being added as an authorized user can help boost your credit score.

        If you cannot become an authorized user, consider getting a card from a lender specializing in helping people build credit, such as However, since you have good financial habits, my choice would be secured credit cards, and then transition that card to an unsecured one once you’ve got the required score.

        Regardless of your choice, making payments is the most important thing. Consistent, responsible credit usage is the key to building a strong credit score. If you do this, you should see a good bump in your score in six or so months, which will open up more credit options for you in the future.

        Best of luck!

    3. I’m still trying to wrap my brain around this. A few questions I have;

      1. My credit score isn’t bad nor great, it’s right at the cusp. Is this card worth getting to build up my credit? I pay every bill on time, never missed a payment.
      2. By unlocking its full potential of the unicorn card, you say you would need to connect your checking account. By that you mean, your main bank that you bank with, correct? Chase, BoA, etc.
      3. If yes, above. I don’t necessarily, have to deposit my entire paycheck into I can set up a certain amount only? As I still want to use by existing debit card.
      4. I can use my card to pay other bills as long as I have the sufficient funds in checking account that’s connected to the card?

      Thank you!

      1. Hey Kevin,

        1) If you’re doing things right, your credit score will improve over time naturally. If that’s the case, I’d much rather get a major bank credit card that you plan to keep long-term. All things considered, I like having a no-fee card from a major bank that pays decent rewards which you can keep long-term to lengthen your credit history. I think is more for someone who tends to overspend and wants protections in place, which is a valuable thing to have.

        2) To unlock the Unicorn Card’s full potential, you need to connect it to your main checking account. This connection allows to monitor your spending and provide features like real-time balance updates, automatic bill payment, and spending analysis.

        3) You don’t need to deposit your entire paycheck into your account. You can choose to set up a certain amount to be transferred to your account based on your needs and preferences. This way, you can still use your existing debit card for other transactions.

        4) You can use your card to pay other bills if you have sufficient funds in the connected checking account. The card works like a regular credit card so you can use it for various transactions and bill payments.

        Hope that helps!

    4. Essentially all I have to do is make a small deposit into the credit account and you will report a 1500 unsecured line of credit? Can the line of credit ever be increased?

      1. Yes, you understood correctly. With, you would deposit money into the connected checking account, and the spending limit on the Unicorn Card would be determined by the amount of money in your checking account. will then report a $1,500 unsecured line of credit to the credit bureaus.

        Unfortunately, there’s no way to increase the credit line they report.

    5. I just wanted to let you know that that high apr you wrote about with the card doesn’t actually work that way. I have the card and they don’t actually charge you any interest. They just use that to report to the credit bureaus. But it doesn’t actually affect your money, just your score. It’s actually written into their fine print that you will never pay interest or fees and that if you somehow do, they will pay it for you.

      1. Hey Ivy,

        Thanks for the comment. When discussing the APR, I referred to the APR when someone doesn’t get a checking account and is just using as a credit card. In that case, it does have an APR (this is rare, but for people not interested in the connected checking account, I wanted to mention it).

    6. I’m trying to under something here everywhere I check online it shows cred ai reports 1500 credit limit to the credit bureaus but when I check mine it only shows 1000 is there something wrong with that? Is my account too new ? Not sure why my is different from the claimed 1500

      1. It’s possible that the credit limit difference you’re experiencing may be due to account-specific factors or your account being new. How long have you had an account for?

    7. I have this card and account now, and the only thing I’m most confused about is the lingo of Debit/Credit. The money that I deposit in there, is used just like a regular checking account? When I spend it, it gets deducted, right? I’m just confused about “making payments”. There’s nothing that states when a payment is due or what fees are being “paid” and from where is that deducted? I’m a little confused about the entire thing and I don’t want to make any mistakes from not understanding. I’ve skimmed though all the policies and I just can’t exactly grasp the concept of this card.

      1. Hey Kayla,

        Yes, the account functions like a regular checking account. When you deposit money and use the card, the amount gets deducted from your balance. There are no due dates for payments or interest fees as it’s not a traditional credit card.

    8. Will I able to rent a car with this card? Meaning will they treat it as a normal credit card for incidentals and etc?

      1. Yes you would, however, it would depend on the amount you have available to spend. Credit card companies are going to put a hold of around $100 to $300 (could be more depending on car/company/cost) on the card, and if that purchase gets denied because of the lack of funds you have in your account, the transaction won’t go through. Some rental car agencies don’t accept secured cards altogether, so if you’re considering it: 1) Call ahead to make sure they accept secured cards and try to get an idea of how much they’ll charge on your card for incidentals 2) make sure you have enough funds in your account

    9. i do not have any credit history and i am a college student, i do not have loans or debts, is cred ai a good way to start building my credit ?

      1. If you have no credit history and are a student, I’d first try for a student card from one of the major issuers, such as Capital One, Discover, or Chase. The benefit here is you can transition these cards to other cards within their card lineup, and therefore, maintain your credit history. With, once you close your account, you lose the credit history.

        1. Okay thank you! But can I get cred ai later down the line ? While I have a credit history with major issuers. So that if I were to close the account I won’t loose the history

        2. Yeah, theoretically could be a solid strategy to improve your score a bit quicker than just getting one credit card.

    10. I just started using discover credit card as a student, can I get credit ai as a second credit card just to help build my credit faster ? And even if I close it will it affect me ?

      1. You could and it could make sense if you have a big purchase, such as a car coming up. But then again, keeping a good credit score is marathon not a sprint.

        When you go to close, it would negatively impact your score.

    11. I have absolutely no credit history but I find this company intriguing and like the way they have come up with an unconventional approach to solving a problem. I would like to build my credit but I don’t want to use the credit card functionality… if I just use this card as a debit card, pay some of my low reoccurring monthly bills (e.g., my ChatGPT subscription and gym membership) and gas, or something like that — i.e., I don’t use it for anything other than that and keep the card long-term for this specific purpose — why would I need to close the account at all? And will this method still build my credit even though I’m opting out of the credit option and only utilizing the debit side of it? Thanks for your help.

    12. Does still offer referral codes to new users?

      1. Unfortunately, not at the moment. If there’s an offer, we’ll make sure to write about it.

    13. Will this card be a good option to rebuild credit after filing for bankruptcy?

    14. I’m a little confused. If this is an “unsecured credit card,” why does it only work with what is in my bank account? And is the deposit account different than my actual checking account? So if I have $500 in my checking OR the “deposit account” and my purchase is $501, the charge will be denied, but I technically have a reported credit limit of $1,500? So, do I technically have “$1,500” to spend? Why is $1,500 reported if I only have $20 in an account? What if I have $500 in my checking or deposit account and spend $300; does that mean I have a $200 available balance?

      1. Thanks for your comment. is an unsecured card attached to a bank account. The money you deposit in your checking account, sets your spending limit. The credit limit reports has nothing to do with how much you can spend on the card.

        If you try to spend more than what you have in your checking account, the charge will be denied. If you spend less, you will have money left in your account.

        Hope that helps!

    15. If I currently have a FICO score of 690, will this be beneficial for me? My FICO score has remained stagnant and hasn’t increased in the past two months. I maintain a 3% credit utilization rate and have four credit cards, one of which is secured. Additionally, I have loans from Self and Kickoff. Over the past year, I’ve managed to raise my score from 570 to 690. I’m also piggybacking on my mother’s AMEX card. Do you think this will further assist me? If so, by approximately how many points? If not, what would you recommend? I understand that acquiring another credit card might initially decrease my score, but I’m willing to accept that if it leads to a substantial increase in the long run. With the inclusion of my mother’s AMEX, my total credit amounts to $17,000. Would adding $1,500 make a significant difference? I’m hesitant to accumulate too many cards, especially since I don’t frequently use some of the non-cash-back ones I currently possess. I’m also concerned that closing them might negatively impact my score. I appreciate any advice you can offer. Thanks!

      1. Great job on the increase! While the card’s unique credit utilization feature can be beneficial for many, given your impressive 3% utilization and diverse credit mix, its impact on your score might be marginal.

        Instead, prioritize maintaining timely payments across all your accounts. If you’re considering acquiring a new card or making a change, think about transitioning your secured card to an unsecured one. This would depend on the issuing bank, of course. Ensure it’s a quality card that you’d want to keep long-term.

        1. So I should get out of the secured card even though it’s my oldest acct for all my card?. Does Capital One allow customers with a secured card to convert to unsecured using the same inception date of the unsecured? There is an unsecured version of my secured card with them. I have the quicksilver unsecured card also. I wonder if I can just use and be issued an unsecured card (same card but uninsured) and kick my secured to the curb.

        2. So I should get out of the secured card even though it’s my oldest account of all my cards? Does Capital One allow customers with a secured card to convert to unsecured using the same inception date of the unsecured?

        3. It’s not something that’s going to immediately bump your score, but good for long-term credit health. You don’t lose your credit history when you transition, which is one of the primary benefits having a secured card over and many other credit builder products, you lose the credit history once you leave.

          Here’s a bit more info on it:

    16. Thanks for the quick replies. I called Cap1 today and I guess they converted my secured to unsecured without me asking and as I mentioned they refunded my $150 initial deposit as a credit. I applied to raise my limit as it was still sitting at $250 and it said I’ll get an answer within 3 days. Probably not going to be good news. Crazy bc I applied for the Cap1 quicksilver and was given an unsecured $1000 limit but I need to wait on an answer about the Platinum secured converted to unsecured card. Hoping I get a $1000+ limit which should boost my score a little bit.

      So in a year with a poor score I was able to obtain a PayPal $700 limit, Quicksilver $1000 limit, Self $560, Petal $2800. No fees or annual fee. High APR but I literally pay monthly full balance. I piggyback my Mothers AMEX and she’s at a 5% utilization but pays it off monthly as well. If she was to take me off her acct what do you think my score would do? I have no late fees and pay everything off in full via auto pay with each card. 5 inquiries in 1 year. Oldest acct is 14 months,

      I want to get that Wells Fargo “active cash” card but idk if I’d be approved. Only bad mark on my credit is a Discover Secured card from 6 yrs ago in collections with Discover’s in house collections. It was written off and May2024 will disappear off my report. The balance is 280 of 400 limit. I was told if paid, it will stay on report as closed acct (even if pd in full). Not showing as collection but closed.

      Also wanted to ask if I look for a car loan say 20K on a pre owned vehicle with 10% down what will be an acceptable interest rate you think?

      And if you know of any high limit cards I’d qualify for (Like my Petal cc), I’m all ears. Id risk the dent on my report for an increase which increases my overall limit.

      Finally, FICO question. My FICO is 683 via Experian. Thatsa huge difference from a 724 score I have with trans and Equifax isn’t it? I wish there was just one agency controlling my credit report vs 3 and they were all on same page.

      Tks for the above advice and thanks for any future advice. Im learning a lot about all of this which I should have practiced in my early 20’s vs blowing off bills and essentially being a credit pig.


      1. I’d stay on your mother’s account, unless there’s a reason to get off.

        Overall, you’re doing great. Once the collections gets pulled off your account, is when you’ll see the next jump. Don’t think applying for more cards is going to do much until that comes off. That’s the biggie.

        Haven’t shopped for auto loans in awhile, but 690 isn’t a horrible score. So, it won’t be that high, but then again, that’s compared to current interest rates which are high.

        And, yes, it’s frustrating. They all work a bit differently. Mine vary widely as well. You can try and research what card issuer (or even auto loan provider) uses what credit agency, which may help you apply for a card in the future. e.g. see what services use Equifax over Experian.

    17. How long does the card take to show up on my credit report after opening an account?

      1. Good question. I don’t have this data point. If anyone can please chime in, please do!

        Overall, most credit card issuers take around 30 to 60 days. But, then again, this isn’t a credit card. Sorry, I couldn’t be more helpful here.

    18. Great information, thank you.

      I’m desperate to open a major credit card. The only 2 accounts I show are credit sesame and JCPenney (where I was an authorized user for 17 years in excellent standing).

      I’m 60 years old and disabled on SSDI/SSI, with low income of $14,430 year. But I’m about to get $25,000 for the settlement of a case.

      I need to improve my credit score fast, and I need a credit card and I want to open credit builder account at a credit union. How can get approved for a quality card? My score just dropped this week from 760 to 669 overnight and I don’t know why. Any suggestions would be much appreciated and thank you!

      1. Thanks for the comment. Here are a few things I’d look into here:

        1) I’d first identify why your credit score dropped. I couldn’t tell by your comment, but did the authorized user close the card you’ve been on for 17 years recently? It sounded like the case. If so, that explains the drop. If it’s not making sense, obtain a copy of your credit report from the three major credit bureaus (Equifax, Experian, and TransUnion) to identify any discrepancies or changes.

        2) A good credit score is essential, but is there a reason you need to improve it fast? At 669, it’s okay, and a credit builder loan could help. Do you have an upcoming purchase where credit is required? I’d also look into getting a secured card to be transitioned to a major bank card. I’d prioritize this instead of the credit builder loan because you’ll earn a hard pull on your report once you take the loan.


        3) All that said have you tried applying for a major bank credit card? With a 669 score, you could get approved.

        4) Lastly, unrelated but essential, consider the impact of receiving the settlement on getting government benefits. Might change what you do with the money.

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