[boop21197]

:confused: I have a son that gets SSI cause he is MMR, I have 2 accounts (1) for me that I have direct deposit with my work, the other is direct deposit with SS into my son account, now we bank with Wachovia bank in virginia, we do not use checks cause they want to charge you for them, so we got a visa atm check card, we both lost our cards and now the bank will not give us another card cause we do not have a bal of 50.00 in them. This upset me cause I have been with this bank for years, but they are not giving in,
Now what I was wondering is there a card that we both can get using our direct deposit with, with no fees, and they report our credit to all 3 or 4 credit company, to show our good standing. And if so which one could I look into. I don't want to deal with the banks anymore. I want to just have my work deposit my check each week onto my card and the SS deposit to go on my son card. And we can use it at any atm with no fees.
Is there anything out there?
Thank you

[Bocasean]

I used to work as a mortgage broker, and one of my specialties was credit repair. The problem that you're going to find is that, in the absence of acceptable credit scores, banks/lenders will sometimes issue credit based on asset collateral or income verification.

If you have neither, then it's going to be an uphill battle for you. But you still have hope :)

Is there any way that you can come up with $750-$1000 in cash to secure a credit card with one of your local credit unions? Usually, you'll be able to get a Visa or MasterCard with a spending limit that matches your collateral. The credit union will keep your money in their savings account and you can use the credit card to make your purchases each month.

I recommend 2 things: First, make sure you pay off the balance each month so you don't pay interest. Second, try to keep the balance under 30% of your total limit, and definitely under 50% if you're goal is to build your credit history. The 3 credit bureaus call this debt utilization, and it's a factor in your cumulative scores as well as your payment history is.

So basically, if your limit is $1000, try not to use the card for more than $300 per month. Then, pay your bills on time every month and your credit will surely grow.

Just make sure to ask the credit union if they report to the 3 bureaus or not.