Credit Cards

[Education44]

I have been rebuilding my credit for the last 12 months and have cleaned it up as much as I can at this point. How successful do you think I would be with applying for prime credit cards? This is what my credit reports look as of today?

Capital One Auto Loan - $21,000 (opened April 2011)

Capital One CC- $7,500 (opened Sept 2011 - started with $500 CL)

JC Penney - $2,500 (opened June 2011 - started with $150 CL)

Fingerhut - $1,280 (opened Jube 2011 - started with $250 CL)

Victoria's Secret $850 (opened June 2011 - started with $250 CL)

Merrick Bank $600 (opened March 2007 - no CLIs)

Credit One $400 (opened August 2011 - given the option to pay for CLIs, I said NO)

Account History - 19.3 years

AAOA - 6 years

Baddies - pax state tax lien (lien filed 2009)

HSBC CO -- 2008

Merrick banks - 3 lates, last one occured two years ago)

[Burned2manybridgesB4]

What are the balances/utilization on these cards?

The few lates, if I recall, if not more than 30 days, should start losing their "punch" after the two year mark, gradually hurting less as time goes on.

[Education44]

0 balances except Merrick and Credit  One -- they each have $8 balances.

[Burned2manybridgesB4]

Any other bad marks beyond the lates (including CRA disputes)?

*sorry, caught the bottom of your post after typing this*

Your AAOA is good, and the 7.5k limit is great!

[Education44]

HSBC CO charge off and a paid state tax lien.

[Burned2manybridgesB4]

Bump*

I think the CO's a killer until it's gone, if you're looking for a top teir card.

Let some of the "experts" chime in now. I'm in the same battle, waiting for CO's to disappear in a few months.

[djrez4]

I've put together quite a portfolio of cards with a paid CO (DOFD 2007) on my reports.  It's not the killer everyone thinks it is.  I had to recon the CSP and answer questions over the phone for the Ink.  The CO didn't come up either time.

[Education44]

I hope not. I've tried GW'ing HSBC (Capital One), with no luck.

[dodgeball]

A old CO shouldnt disqualify you

[djrez4]

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Education44 wrote:

I hope not. I've tried GW'ing HSBC (Capital One), with no luck.

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Cap One is useless.  They respond to every GW letter with a "we're reviewing our policies regarding that," letter.  If you want to get a Cap One (HSBC) CO removed, you have to play hardball.