Another Card? What could I qualify for?

[snowangel]

So I'm thinking about getting another card but not sure what I can qualify for.

Here's my current status:

I have a paid tax judgement on my report that, as of now, won't come off until 2014.

I have lots of baddies of which the youngest are 3.9 years old from when I defaulted on my student loans .  There are many and the last of them don't come off until 2014. They all report as Paid/Pays as agreed though.

Then of course I have collection accounts for my student loans but these are scheduled to come off this October.  Hope to see some kind of improvement in my score.  But I'll just have to wait to see.  They won't affect my AAoA negatively when they come off.

In terms of revolving credit, this is what I have:

Orchard Bank $320 opened 2007  - $0 bal - will probably close this before the next AF fee hits early next year.

Capital One $500 opened in July - Plan to keep a $25-50 balance to report some util.  Would like to get rid of this card sooner than later (once I earn my AF back).

Barclays $2500  opened in July - Got a good boost in my credit score after I opened this account.  Might use it here and there to keep my work expenses separate but plan to PIF if I do.

Neiman Marcus $2500 opened August - Don't plan on using this unless they offer some great deals.

My ideal card for now would have no/low AF, cash back rewards, and a $2000 CL.  Is this possible with the negatives on my credit history?

[Switch2007]

I dont think it's impossible, but it wouldn't be easy in my opinion. I also dont think you should close out any of the cards you have unless trying to avoid the AF. Keep them open to help you with your score's utilization. All I can think of for certain would be a GEMB card perhaps? They're more forgiving with baddies.

[Anonymous]

Hi snowangel,

I have a public record and the only rewards card I have is from my local CU (the one I like - not the one that wouldn't give me a card - CU's vary a lot in what they will and will not work with).  It's also my highest CL card.

Barclay's does have some rewards cards that will take on folks with BKs - so maybe with other baddies as well.  Priceline and Apple both come to mind.  Your $2500 Barclays is fairly new - 1 month old? - so I'm unsure if they would do another card that quickly, maybe some other folks will chime in on this.  Actually, now that I look at it, you have three new cards in the past month or two, and have added $5500 of your current $5820 in CL's just on these new cards.  I would definitely hold back on apps for at least 6 months - preferably a year - with those three new cards.  Unless I'm reading that wrong....?

[snowangel]

Nope, you're right.  I went from $320 to $5820.  However I would like a card that actually does something other than sitting in the sock drawer. I realized that I didn't have a credit card plan when I applied for these and now have regrets.

The Orchard has a $69 or $79 AF.  I've paid more in AFs on this card than the CL they've given me. The more I think about it, the more I realize it's time to say goodbye. 

The Cap 1 just doesn't suit my style of spending.  If I can't use it the way I want to, then it's useless to me.  I can't imagine dealing with it for the next 7 months just to get a $250 CLI.  I'm not hating on them, just realizing our relationship isn't going to work.  I'm impatient.

The Barclay's is the Apple  card and has a nice CL, but there's really no benefit to using it, unless I buy something from Apple when they offer the 0% APR. Since it has no AF, I don't mind keeping it.  Or, if possible, since you mentioned that they have a rewards card, maybe I can get a product change?  There's just no incentive to really use it right now.

The Neiman's was impulsive. I was seeing Burberry and hoping they offered card purchase discounts but I guess they don't.  Should have done more research. Nice initial CL though.

I also realize that there might not be a card that I like and I qualify for. I was just hoping that there might others who have been in a similar situtation as me and had success with getting other cards.

[drkaje]

I got a Citi Cash Rewards card (a few years ago) very early in the credit repair process.

[snowangel]

Did you have a judgement?  Even though mine has been paid, it seems like it's going to be a big trouble maker for me.  I wish it would disappear.

[drkaje]

I had a paid CO, paid tax lien, and many lates.  

IIRC, the limit was $1850. It was at least three years ago and things may have changed. Now the limit is a little over $11K

[haulingthescoreup]

I agree with the advice to wait. Although I like rewards cards, realistically 1% isn't going to make a whole lot of difference for most of us. How many of the lates will be coming off in the rest of 2011, and in 2012? If you have a clump of them due to come off soon, it would be worth using that date as a not-until.

Whatever you decide, I would strongly urge you to wait until November (at the very soonest) when the collections are gone. You'll still have the paid judgment and the lates, but I think you'll look different without the collections.

But I still think you'd do better to get all your current accounts a year old, or at least 7 months old. When you have negatives reporting, lenders want to see a nice, steady stream of clean history to show that you've changed.

[slg]

Not to mention the barclays card is so new and I constantly hear they soft you for new apps and close the card on you if they don't like what they see.

[Red1Blue]

I dont if you would get a Nordstrom card or not. If you can get a Nordstrom store card that will eventually grow into a Visa after 7 months. If you have less than 3 inq's on your EQ you may have a chance.