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@bunga7 wrote:Thank you for the comments. I did know that GE Money was now basically Synchrony. I was surprised because I'd only had the Walmart card for three months, but I do use the card for some household things, and pay it off regularly so I think that looks good with them. I'm doing the Carecredit thing as a 6 month-no interest deal. I'm teaching an extra course, so I know I could pay it off in two months of needed, What I haven't decided is whether it would be better to pay it off early, or go the full 6 months (really 5.5 months so I know I'm not close to getting dinged.) Any thoughts from anyone which way would look better for credit report or futue credit?
I'd go for the 5.5 mos. I have a Barclaays MC and they sent me checks with 0% inerest for 15 mos. I needed the short term loan and used $3300 of my $3500CL. The 0% ended 9/2014 and I paid the card in full in Aug. Barclays responded by raising my CL to $5700. My credit score took a hit with that high a CC utilization, but when I paid it off it bounced back higher than ever. And free use of OP's money is one of my favorite things.
The only good thing about Synchrony is Care Credit.
They do not grow with you... I got fed up with my Walmart card and the joke $100 CLIs so I closed it the the other day. I didn't shop there anyway. I was holding out for the Walmart MC upgrade but don't really care now because my other cards are better.
Synchrony is great when you first start your rebuild... but once you get yourself some better cards don't expect Synchrony to follow suit.
Your advice speaks to my situation. I'm always reading about those coming right out of BK and getting approvals even on those who they've burned. Not me. I was discharged in Oct. 2014 and I haven't been able to get any of the cards that is named in the "How to get a 720 in 24 months" or the ones that I listed in my BK (Cap One, Credit One, First Premier). Even when I went to look for another car after the BK, I have so many inquiries that it has started to negatively affect my score. So, I do have a car loan that I got in November 2014 that I'm hoping to get re-fi'ed down the line, and I've joined a credit union in December 2014. So yes, I used to get so frustrated getting denial after denial, but I've faced it, that time is only going to heal my wounds. Another one of my goals is to get my savings up, so thanks for the motivation.
Been like 18 months for me, and the one thing i learned is how to actually save ur money and make it work for you. I took the cash i wouldve been paying CC's and opened a RothIRA and began saving there as much as i can. Not everyone can but anything is a great start!