3rd line suggestions

[Anonymous]

Going to try and be as thorough as possible to get some guidance with my next step(s).

Currently:

School - I have multiple loans that have gone from default to rehab to default. Not sure what to do with them at this point but have requested help in the student loan forum.

Credit cards - I have 1 Cap One card that recently had an Auto-CLI to 3k from 2k. I have one BofA card in collections that I'm paying off. Due to a home lender suggesting I have 3 lines of credit open, yesterday I opened another card through Cap One with a starting line of 1k.

At this point I would like suggestions on what I should do next. When I opened the latest Cap One card I was denied for 3 others at the same time. The lender had pulled my credit and stated it was 627 and as can be seen in my signature, my score has dropped significantly. I'm not worried about the drop in my score because I know I'm going to be on top of everything from here on out, but want to take the correct steps in rebuilding.

Would love to get some suggestions on whether I should open a 3rd line via a secured card or work with what I have. Also, if anyone has suggestions regarding my student loans I would be garteful. Thanks in advance.

[gdale6]

Yes, 3 revolving bankcards and 1 store card is the minimum you want to help build your Fico. I would get he 3rd bankcard even if it has to be secured. If you havent already tried Barclays you can try them, they are going to most likely pull a TU report. A good place for the secured card is SDFCU and if you put the funds in your savings account and then open by phone its a SP I understand. You might also check around and see about getting into a local CU and see if they have secured card available. Welcome to MyFico

[Anonymous]

Thanks for the welcome and reply!

One of the cards that I was denied was a Barclays card. I will look into SDFCU and see if there's any local CU that I might be able to get one through. Would love to be able to get a secured that will eventually turn into a unsecured.

Regarding the store cards, would I be able to apply for one with my current score or is that something I'd need to wait for? Any suggestions on one if I could apply now?

[gdale6]

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@Anonymous wrote:

Thanks for the welcome and reply!

One of the cards that I was denied was a Barclays card. I will look into SDFCU and see if there's any local CU that I might be able to get one through. Would love to be able to get a secured that will eventually turn into a unsecured.

Regarding the store cards, would I be able to apply for one with my current score or is that something I'd need to wait for? Any suggestions on one if I could apply now?

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I would put 6 months of age on your new bankcards then app for the store card its not needed today.