Need more information on your cr profile. Inq's/baddies, util, AAOA, CS
Yeah need more info to make a educated suggestion. But my standard advice is wait at least 6 months to build history with them (so they can see you are able to handle debt well), and to allow your scores to improve. How new is the Discover IT card? If IT is very new also, I'd say wait 9 months to 1 year and then try for an unsecured (depending of course on what your credit file looks like).
@ Jasir : I see in your signature you have a CHASE slate with 500 dollars limit. Did you get instant approval for this card or recon? With what score you got approved for? I got approved for a CHASE freedom back in June and wanted to apply for another CHASE card in future. I heard CSP is tough to get. How easy is it for Slate?
sorry for hijacking the thread.
Shell FCU : 5K
@sghosh5 wrote:@ Jasir : I see in your signature you have a CHASE slate with 500 dollars limit. Did you get instant approval for this card or recon? With what score you got approved for? I got approved for a CHASE freedom back in June and wanted to apply for another CHASE card in future. I heard CSP is tough to get. How easy is it for Slate?
I did not get instant approval, but I did not have to recon either. They needed to verify my identiy (I have active fraud alerts). After they received my credentials I was awarded the $500 limit; process took 2 - 3 weeks. I don't recall my score, but I guess in the low-mid 600's (FAKO was 684 I think). I had several baddies (look through some of my other posts; I detail the circumstances well). I feel I got lucky getting in the Chase family with how my report was at time of app.
Congratulations on your progress.
I keep seeing "IT"... what does that mean exactly, lol. I just got a Capital One secured MC and I wonder if I should just use it as a savings method ($3,000) in order to increase my CS? Or should I save $1,000 and apply for 2 other secured cards and save the $1,000 on each one. What would you say is the best way? This is my only card and it's brand spanking new. I plan to have 9% util on it, although I've been told the real # is 25% util in order to increase credit report score.
Oh also, do you all think it's best to pay my cc balance before or AFTER I received my statement.....which will build your CS quicker?
Thanks
EE
Starting Score: 575@zahservices: One secured credit card is enough to start building or rebuilding your history. If you do go for a second secured card choose one that will upgrade to unsecured after about a year (Bank of America is best for this; also Wells Fargo is an option but WF takes longer to unsecure).
It may be best to wait for 6 months of payment history to Capital One before you app for an unsecured card since that is your only card. But knowing what your credit score and report look like will help us make informed suggestions.
Pay your bill after the statement cuts so that your reports show a history of usage and on-time payments. BUT ... try not to have too high a balance when it cuts (no more than 30%of your CL). Lots of people pay a little before the statement cuts and leave a little to report after the statement cuts (for reporting utilization purposes).
Oh. "IT" is just the name/brand of the main Discover credit card. I don't think "IT" stands for anything.