Credit History, please help

[JDF569]

Currently according to creditkarma I have a 622(TransUnion Report) and credit inform 591(experian report)

I have a dell preferred account with 1200 available out of 1200 credit(open 2011) , last purchase was 700.00.  Bought product in Jan interest free and paid it off completely in march. I use this account once every 1-2 years.

Capital One- 200 avaliable out of 200 credit(open 2014 jan), i use every month

I usually pay off all my balances at the end of each month

Old accounts:
In sept I had 2 credit cards
BoA- 700 credit line, it became 90 days past due in Sept
I payed it off completely 2 months ago(open 2009, closed 2013)
Barclays card-1000, it became 30 days past due, I payed it off completely 3 months( open 2011, closed 2014)

I was unemployed for 2 years and I am still a student. I found a job in Oct of last year.

I'm trying to rebuild my credit to get better offers. I got an offer in the mail from Credit One bank(I read that they are not good). Its a for a 1500 credit line, I did a simulation and it said it would not improve my credit score. So I'm not sure if I should get it b/c of bad reviews and it wouldn't really help me.

I have been wanting to get a Discover It Card for Students, but not sure if I will be approved.

I have tried sending goodwill letters to my credit card companies but it did not work.

what should I do?

If I could get the Discover It Card for students that would be nice or should I get the Credit One bank first wait a few months then get Discover it card for students.  I would probably close the Credit One bank account then or should I just completely wait?

[Creditaddict]

1. Credit One is a max limit of $1500 with the offer but "most receive $300" which is in the fine print of the offer.  They are not terrible if you can't get anything else but with a 600 I bet you can bypass them.

2. Check the pre-qual offers from capitalone.com and see if you get an offer, even though you have 1 already you can probably get a 2nd higher limit.

3. check the pre-qual for discover but you might need little higher score.

4. any local credit unions you are a member of? 

[JDF569]

no im not a member, what advantage does it give me? How would I join and is there a fee?

[Creditaddict]

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@JDF569 wrote:

no im not a member, what advantage does it give me? How would I join and is there a fee?

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you would have to see what is available to you, depending where you live you might find one that you can join because of the company you work for, the town you live in, the organization you are apart of, etc.... on suzeormans website she has a great link to credit unions by area that you can search and then you would have to see what requirements they have to join. usually just have to pay $5 for savings or something to join...

Advantage is they tend to be a lot more forgiving with past and give you chance with some credit, with much lower rates and fees than things like credit one!

[JDF569]

Is there a chance that I might get the Discover It Card for Students?

[takeshi74]

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@JDF569 wrote:

I'm trying to rebuild my credit to get better offers. I got an offer in the mail from Credit One bank(I read that they are not good). Its a for a 1500 credit line, I did a simulation and it said it would not improve my credit score. So I'm not sure if I should get it b/c of bad reviews and it wouldn't really help me.

I have been wanting to get a Discover It Card for Students, but not sure if I will be approved.

I have tried sending goodwill letters to my credit card companies but it did not work.

what should I do?

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Derogs are probably holding you back since they always have the biggest impact.  If GW letters didn't work then all you can do is put in the time and responsbile usage to rebuild.  Adding new accounts may not really help all that much so add accounts that you need versus what you think might help with your score.  Defintiely do whatever you can to avoid derogs in the future.

Work on keeping your reported utilization under 30%.  With low limits it's very easy to end with high utilization.

[notfancy]

I would avoid the credit one card at all costs.

I was denied Discover IT and the student version twice now. I have only one derog on my credit report and it is over 6 years old.

My scores are in my signature. They really don't like the derog, and reconning didn't help.

However, my situtation might be a lot different than yours as I have a lot of new accounts under one year old, as well as a LOT of inquiries so you might have better luck... I just don't think you will until your scores are a bit higher and that derog comes off.

As always it just plain depends on who knows what, since I'm sure there are people on this forum who have had as many inquiries as I, and degrogatories on their reports who still were able to get approved where I was denied.

Best wishes and luck to you how ever you decide.

[notfancy]

Also- you really don't want to close CC accounts unless you have a compelling reason such as the CC charges an annual fee.... CC companies like to see longevity and consistantly responsible usage.