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dfgdfgdfgadfg
Posts: 99
Registered: ‎08-20-2008
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Advice On Getting A Credit Card?

 

Anyone have any suggestions on getting a card and when I should put off applying for one? Last time I pulled my scores they were TU 650, EQ 675, EX 690.  I think the TU should go up as I disputed an old account that was not mine that showed a balance of $2700 that was removed.  I have a late car payment from June 2002. I sent a GW to see if they will remove it early from my report. Worst case it comes on in June 2009. I have $518 bad debt/collections scheduled to come off in April 2009 from a credit card. I have a $298 Sprint Collections with Calvary Portfolio scheduled to come off August 2009, which I am trying to PFD.

 

I have three hard inquiries in the past year with dates of Oct 9th 2008, June 20th 2008 and Feb 12th 2008. So the February is scheduled to come off soon.

 

The only revolving account I have is a Macy's account with zero balance opened last August. So when should I be applying for a Credit Card and what card should I be applying with? I am defaintly going to wait to April when that $518 baddie drops off, and hopefully by the the Sprint/Calvary PFD will happen and the GW with the car loan will work.

           
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Creditaddict
Posts: 21,712
Registered: ‎10-23-2007
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Re: Advice On Getting A Credit Card?

after April sounds like a good bet to me.

I would apply over at Bank Of America... you can always talk to specialist if the application is declined, they are great about recon.

Capital one

Household would also give you cards, but you might be able to just skip them all together unless you want to add some rebuilder cards.

Citibank might be a great option too. 

Fico Scores: EQ- 653 Cap1., TU 696 Walmart, EX 695 Chase (11-05-14)
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Contributor
dfgdfgdfgadfg
Posts: 99
Registered: ‎08-20-2008
0

Re: Advice On Getting A Credit Card?

Household I want to stay away from. I also want to stay away from Citi because I had 2 cards from them that were charged off. The charge offs were about 9 years ago, so they dropped off my credit report already.
Valued Contributor
oracles
Posts: 1,699
Registered: ‎08-18-2007
0

Re: Advice On Getting A Credit Card?


dfgdfgdfgadfg wrote:
 

Anyone have any suggestions on getting a card and when I should put off applying for one? Last time I pulled my scores they were TU 650, EQ 675, EX 690.  I think the TU should go up as I disputed an old account that was not mine that showed a balance of $2700 that was removed.  I have a late car payment from June 2002. I sent a GW to see if they will remove it early from my report. Worst case it comes on in June 2009. I have $518 bad debt/collections scheduled to come off in April 2009 from a credit card. I have a $298 Sprint Collections with Calvary Portfolio scheduled to come off August 2009, which I am trying to PFD.

 

I have three hard inquiries in the past year with dates of Oct 9th 2008, June 20th 2008 and Feb 12th 2008. So the February is scheduled to come off soon.

 

The only revolving account I have is a Macy's account with zero balance opened last August. So when should I be applying for a Credit Card and what card should I be applying with? I am defaintly going to wait to April when that $518 baddie drops off, and hopefully by the the Sprint/Calvary PFD will happen and the GW with the car loan will work.

           

Hi dfg and welcome to the forums

 

First -

 

I just want to make sure you understand the inq will not come off your report for another year. It stays on your report for 2 years but it stops negatively affecting your score after 1 year.

 

Second -

 

I definitely would wait until after april to apply for credit. It is right around the corner. Always put yourself in the best possible position to get approved. I agree BofA is a great choice to get invloved with. They are good on reconns and they will grow with you. Also you can apply for a nordstrom card. You may get the store card first, however after 6 months, they will upgrade you to a visa card. They too will grow with you.

 

I would also think about getting a card from a credit union as well.

 

Hope this helps and keep us updated  

Frequent Contributor
moondog7324
Posts: 488
Registered: ‎04-09-2008

Re: Advice On Getting A Credit Card?

I'm no expert, but this is what I would do. Do not dispute the bads that are going to fall off in April and August. They are showing age, and that is probablly doing more good than the harm of them being bad accounts. Use the money you would of PFD'd with and open a savings account with a credit union. Put $100 a paycheck into the account each pay period. (or whatever you can afford- direct deposit is best if your employer does it) Whn you get above $1000.00 ask for a secured card at the credit union. Hopefully this will be after April. Patience is a virtue- create good habits and your scores will come. Even after you get your secured card - keep depositing that 100 a paycheck-By August 2010 you will now have a 1000 credit card with a year of age- and around 3500 in your account! Keep the card balance below 300 and pay in full each month- so that you pay no interest! Good Luck!  Your scores are nice- but I would be afraid of getting stuck with a junk card of 300 and wasting valuable inquiries by going on an app spree. Watch for CC solicitations too. I always throw the junk cards away- but I read the terms- After I had my Credit Union secured card for about 8 months - out of the blue I got a pre-approval for a Chase Platinum. $4000. limit. - It was just a matter of being patient. Junk begets Junk- I believe a nice card showing a $1000 balance is far better that 5 Crap1's , HSBC's and First reiers with 500 each.

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