5 years ago I burned everyone....Now I need to restart and need some suggestions

[sjt]

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@enharu wrote:

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@AtmyOffice wrote:

Okay guys, 4 years ago I made some questionable decisions in the credit realm. Long story short I have spent the better part of the last 4 years clearing up my debt - which was close to 60 thousand dollars in unsecured credit cards. At this point, I am about 6 months away from paying off the last creditors. None of my credit cards got charged off, but as a part of my credit counseling program I had to close all active accounts and work on paying them off. I only have a handful of 30s, 60s and one 90 in GEMB credit cards (Old Navy and Banana Republic) both of which have been paid off for a couple of years. 

I had 20K in debt with Citi AAdvantage. I paid that off in 2010. The account is closed and they didn't want to reopen after it was paid off - I can't say I blame them. Account shows as closed and in good standing in all my reports.

I had 20K in debt with Amex blue. I am 5K away from paying it off. It shows as closed and in good standing across the board.

I owed Wells Fargo 16K in a VISA. I am 1200 away from paying it off. It shows a 2 or 3 30 day lates in 2009.

All the small retail cards aside from the ones mentioned above were paid and show as closed and in good standing.

My job at the time required me to travel, so the credit counseling service allowed for me to keep one line open - an HSBC (now Cap1) Best Buy mastercard with a 500 limit. Never late, pays as agrees. But you know how hardcore they are to give CLIs.

I have a mortgage since 2011. Never late.

CreditKarma is telling me that once I pay off these last lines my credit score is going to plummet 40 points unless I get some other new lines open. The question is: I burned the main prime cards so I dont know who will take me. My score is currently hovering around 679 FICO for TU. If you were me, how would you proceed? Try applying to a bunch of different cards at the same time? Go one by one? How many? What bank? Credit Karma claims I should be a shooin for the Discover.

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If you paid whatever you owed in full, you technically did not burn them. I do not think you're blacklisted by them as a result, but at the same time your approval odds within the near future isn't that good either.

if you want to be on the safe side, you can start with the BofA secured card.

You could also try your luck with Barclays and GE.

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+1

You did not burn anyone as you paid the balances off in full. Also, after you complete your DMP most of the creditors will re-age your accounts and any designation that you were in a DMP will be deleted.

I would look into credit unions.