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Valued Contributor
Posts: 1,281
Registered: ‎09-22-2009
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Re: Credit card apps ?

[ Edited ]

nicholasyud wrote:


Thanks for the info on your history as that makes a lot of difference.  The charge offs and collection are killing your scores, even at 4 years old.  Your scores will slowly rise over time and the negatives will dissapear after 7 years. Whether you get to 700 any time soon is unlikely.  You don't have to wait THAT long to apply for what you want, I'm just suggesting that you will likely get higher CL's if you wait until the baddies age and you have more time under your belt with good payment histoD


DOFD is April 2008 when i first miss my payment.........so when would you think its would be a best time for me to apply for Discover or Amex ? i know when i hit to 700 but also want to know if i would get it both the same time or what i mean i just want to rebuild my solid credit file and kinda new to this kind of credit game so you know sometime its hard to make a decision...........;-( What do you suggest on my case ?


As I said earlier, sit on what you have for two years and then try for something new.  If you just can't wait, try after a year if you want to be approved for something meaningful with a decent CL.  Sorry if I am bursting your bubble, but credit has to be looked at strategically (long term) rather than tactically (short term).  If you feel that you can't take my advice, apply for an AMEX Zync and take your chances. Smiley Happy

EQ Fico 8 - 850
TU Fico 8 - 850
EX Fico 8 - 850
Established Contributor
Posts: 764
Registered: ‎03-16-2012
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Re: Credit card apps ?


android01 wrote:

nicholasyud wrote:


Thanks for the info on your history as that makes a lot of difference.  The charge offs and collection are killing your scores, even at 4 years old.  Your scores will slowly rise over time and the negatives will dissapear after 7 years. Whether you get to 700 any time soon is unlikely.  You don't have to wait THAT long to apply for what you want, I'm just suggesting that you will likely get higher CL's if you wait until the baddies age and you have more time under your belt with good payment histoD


DOFD is April 2008 when i first miss my payment.........so when would you think its would be a best time for me to apply for Discover or Amex ? i know when i hit to 700 but also want to know if i would get it both the same time or what i mean i just want to rebuild my solid credit file and kinda new to this kind of credit game so you know sometime its hard to make a decision...........;-( What do you suggest on my case ?


As I said earlier, sit on what you have for two years and then try for something new.  If you just can't wait, try after a year if you want to be approved for something meaningful with a decent CL.  Sorry if I am bursting your bubble, but credit has to be looked at strategically (long term) rather than tactically (short term).  If you feel that you can't take my advice, apply for an AMEX Zync and take your chances. Smiley Happy

Its super hard to stay in the garden when rebuilding... I have 8-10 inquiries on each bureau the past 6 months! Lol... And now, almost two months in the garden, feels years!

 


Starting Score: TU: 481 12/30/2015 EQ:561 12/30/2015 EX:532 12/30/2015 (MYFICOS) BK FILED: 09/2015 DISCHARGED 12/2015 -- 02/28/2016 TU:551 EQ: 599 EX: 561
Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
0

Re: Credit card apps ?



As I said earlier, sit on what you have for two years and then try for something new.  If you just can't wait, try after a year if you want to be approved for something meaningful with a decent CL.  Sorry if I am bursting your bubble, but credit has to be looked at strategically (long term) rather than tactically (short term).  If you feel that you can't take my advice, apply for an AMEX Zync and take your chances. Smiley Happy


so you defin think its not a good idea to get a Discover and get it aged ? By the time in the next 2 years i open up a discover then its gonna be a brand new accoutn and they probably lower my AAOA right ? I would lovely to hear your advice but i just want to get on the straight up line not on the mess up past that i already create......you know wat i mean....

 


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
0

Re: Credit card apps ?


Its super hard to stay in the garden when rebuilding... I have 8-10 inquiries on each bureau the past 6 months! Lol... And now, almost two months in the garden, feels years!

 you are damn right lol....its so itchy when we gotta stick with those non sense card lol



 

 


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Established Contributor
Posts: 764
Registered: ‎03-16-2012
0

Re: Credit card apps ?


nicholasyud wrote:

Its super hard to stay in the garden when rebuilding... I have 8-10 inquiries on each bureau the past 6 months! Lol... And now, almost two months in the garden, feels years!

 you are damn right lol....its so itchy when we gotta stick with those non sense card lol



 

 


I agree!!! I mean, capital one helped me a lot but I feel like I need that one prime card in my wallet.... Just one, and Ill garden for a while (maybe two) lol


Starting Score: TU: 481 12/30/2015 EQ:561 12/30/2015 EX:532 12/30/2015 (MYFICOS) BK FILED: 09/2015 DISCHARGED 12/2015 -- 02/28/2016 TU:551 EQ: 599 EX: 561
Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
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Re: Credit card apps ?


kobe2012 wrote:

nicholasyud wrote:

Its super hard to stay in the garden when rebuilding... I have 8-10 inquiries on each bureau the past 6 months! Lol... And now, almost two months in the garden, feels years!

 you are damn right lol....its so itchy when we gotta stick with those non sense card lol



 

 


I agree!!! I mean, capital one helped me a lot but I feel like I need that one prime card in my wallet.... Just one, and Ill garden for a while (maybe two) lol


yeah i know but expert said we gotta wait Smiley Very Happy i guess i take their advice for about 9months to 1 years then see how far my score goes....

 


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Valued Contributor
Posts: 1,281
Registered: ‎09-22-2009
0

Re: Credit card apps ?


nicholasyud wrote:


As I said earlier, sit on what you have for two years and then try for something new.  If you just can't wait, try after a year if you want to be approved for something meaningful with a decent CL.  Sorry if I am bursting your bubble, but credit has to be looked at strategically (long term) rather than tactically (short term).  If you feel that you can't take my advice, apply for an AMEX Zync and take your chances. Smiley Happy


so you defin think its not a good idea to get a Discover and get it aged ? By the time in the next 2 years i open up a discover then its gonna be a brand new accoutn and they probably lower my AAOA right ? I would lovely to hear your advice but i just want to get on the straight up line not on the mess up past that i already create......you know wat i mean....

 


It's up to you.  Personally, I don't feel that it's  worth it apply to for ANY card unless I can get a decent, workable CL right from the start, which WON'T happen without a good score .  If you are comfortable with a crappy opening CL in the hopes that it will grow (there are no guarantees), then by all means have at it.  Don't be in such a rush!!! Smiley Happy 

EQ Fico 8 - 850
TU Fico 8 - 850
EX Fico 8 - 850
Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
0

Re: Credit card apps ?

but do you think its would be good in a long run with my thin credit file ? which going to fall off some charge off and stuff ?


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
0

Re: Credit card apps ?

I wouldn't try AMEX with a 650 scoe, they may give you the $200 or $500 w/autopay option. Wait it out for at least a year, then if you must go for it do it.




EQ FICO 548 3/3/16
Valued Contributor
Posts: 1,406
Registered: ‎03-22-2012
0

Re: Credit card apps ?

You need to apply for a Walmart card right now!

 

You might start out with a low credit limit but that card is backed by GE and they are very generous with CLI. The cards you currently have will not give you CLIs to get your CL up, GE will.

 

I know you want a prime card but that is just not going to happen at the moment. Get the Walmart card and at least work on having a card that has a high CL when it becomes time to app for a prime card.


Starting Score: EQ 653 6/21/12
Current Score: EQ 707 10/11/15 - EX 813 9/26/15 - TU 711 10/11/15

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