Need help with my credit

[Anonymous]

I need help. 

I decided it's time for me to actually care about my credit and I've got some credit card questions.

I had a Discover It card that got charged off and I had a Capital One card that they told me I could close or they would charge it off. Other than those two closed crdit cards, I am an authorized user on a Chase card with a $22,300 balance.

I currently have a credit score of around 517 TU and my goal is 650 in 1 year. I feel like credit cards are a necessity to good credit.

What should I do? Apply for another credit card? Wait for a couple of months?

Please help.

[Anonymous]

Are there balances reporting on the Discover and Capital One charge offs?

Do you know if the account holder on your chase AU has a plan to pay that down ?

[Anonymous]

And how long ago did your capital one card close ?

[Anonymous]

Your goals may or may not be realistic.  I would suggest you not pursue cards as your strategy, you should resolve these chargeoffs to reduce the impact of those serious negatives.  The proper place for you to request help is actually the rebuilding section.  Share every detail you have like actual current FICO scores, all negative items, utilization, AAOA etc and those folks will put you on the right path to success.  650 may be possible but you won't get there buy applying for credit cards alone.  

[Anonymous]

On AU account, the limit is $22,300. The balance was $16,000 and was paid down to $0 yesterday.

My Discover account and Capital One account both have $0 balances. I just closed the Capital One account today.

I will look into the rebuilding section of the forum. Sorry if I posted innacurately.

[Creditplz]

I'd hold off on doing anything till you find out the real Fico score once that balance reports to $0. It could have a major impact on your score.

[Anonymous]

Jh1589, I changed the title of your thread to more accurately describe the content of your post and get more members to assist you.

Good luck with your credit rebuild efforts.

[Anonymous]

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@Anonymous wrote:

On AU account, the limit is $22,300. The balance was $16,000 and was paid down to $0 yesterday.

My Discover account and Capital One account both have $0 balances. I just closed the Capital One account today.

I will look into the rebuilding section of the forum. Sorry if I posted innacurately.

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Sorry, I'm a bit confused, if the Cap1 is a 0 balance what would there be to charge off? 

How long ago were the charge-offs, what kind of late remarks and how long ago was the last delequincy with each? Anything else on your report? Your score sounds really low with the information you've provided.

- C

[Meanmchine]

Anytime is a good time to start rebuilding your credit. Its not a hard process although it might not move as quickly as one hopes. I would suggest finding a good secured card program and start rebuilding there. Stay away from First Premier and Credit One if possible. Try the prequal site at Merrick Bsnk. Good luck and keep us posted! I think Discover has a secured option that you might want to look at