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Posts: 118
Registered: ‎12-04-2008

FICO went from 500 to 590...quick credit card question

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My experian fico was a 500..(2 chargeoffs and 3 collections)..the only card I got approved for was a frist premier and a crown jewlers...after 2 months (I know only 2 months sheesh) of on time payments my fico jumped from 500 to 590....

 

I want to get a new credit card preferably with no annual fee like the first premier card...I do not want to get rid of the FP card yet because it is in good standing I want to wait....maybe just transfer the balance to another card

 

Any cards that are easy to get with a 590? Should I wait a little longer?

 

Thanks for everyones help

Message Edited by fused on 02-06-2009 05:54 PM
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Posts: 16,383
Registered: ‎03-12-2007
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Re: FICO went from 500 to 590...quick credit card question

Moving to CC forum, you'll receive more replies.
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Established Contributor
Posts: 995
Registered: ‎04-01-2008
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Re: FICO went from 500 to 590...quick credit card question

Umm---Was this posted somewhere else? I thought this was the cc forum (no sarcasm intended...)

 

You might try checking this info:

 

www.whogavemecredit.com

 

Look for similiar scores and such.



1/28/14 EQ 817, (6/30/14)EX 821, TU 817 on 6/13/2014

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Moderator Emeritus
Posts: 16,383
Registered: ‎03-12-2007
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Re: FICO went from 500 to 590...quick credit card question

The OP was moved from the rebuilding your credit forum to this forum.
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Established Contributor
Posts: 995
Registered: ‎04-01-2008
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Re: FICO went from 500 to 590...quick credit card question

ok....guess I've exceeded my ficotini limit (1) LOL


1/28/14 EQ 817, (6/30/14)EX 821, TU 817 on 6/13/2014

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Valued Contributor
Posts: 1,702
Registered: ‎08-18-2007

Re: FICO went from 500 to 590...quick credit card question

HI Richie

 

First let me say congrats on your recent increase. 

 

With your comment of "I know only 2 months sheesh", I think you will not take offense to me saying, it has only been two months.

 

Unfortunately, especially in today's economic times, with this score, it is almost next to impossible to receive a CC let alone a 0 annual fee cc. I commend you for your enthusiasm, however Patience is a virtue.

 

I think what you should do is work on what is bringing down your credit score. Do some PFD if you can or some GW letters. Post some of your baddies so maybe we can help you with some things on your report.

 

If you have done these things already, then I think you should sit tight, keep util% very low and continue to pay on time.

 

Soon you will have scores to apply for some cards.

 

Hope this helps and keep us updated

Senior Contributor
Posts: 3,702
Registered: ‎01-10-2008
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Re: FICO went from 500 to 590...quick credit card question

likely to receive more attractive cards and terms w/ 650ish scores, perhaps continue to build for now...  you mentioned you want a better card than FP- as your score continues to increase over the next few months, you can successfully app. for one.
FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007

Re: FICO went from 500 to 590...quick credit card question

Yep, hold off, sit tight. No point in getting icky cards that you'll wind up hating, when just waiting and continuing to stay on top of your credit will bring you so much more.

In addition, during the rebuilding phase, when you're re-learning your credit habits and attitudes, it's smart to just stay with a few cards and get a good payment routine established. With every additional card, you're increasing the chances that something will get missed, you'll screw up, and the clock for rebuilding your credit will reset back to zero.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Contributor
Posts: 118
Registered: ‎12-04-2008
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Re: FICO went from 500 to 590...quick credit card question

thanks everyone

 

general consensus here is keep what I've got and just let it build

 

ugh FP sucks lol

 

thanks everyone for the coments I appreciate it

Frequent Contributor
Posts: 488
Registered: ‎04-09-2008

Re: FICO went from 500 to 590...quick credit card question

Here is what I did and it helped me tremendously. I joined a credit union and opened a savings account- each paycheck I had $100 direct deposited to the account. After 10 pay perionds- (20 weeks) I had $1000. I used that amount to get a secured card. I try to keep the balance below 400 and pay in full every month. I have yet to pay a penny interest on that card. That card has created trust from the credit union, I have since re-financed my auto loan and got a $5000 line of credit, that I can use as a signature loan anytime. I think the key is getting above that $1000 mark before getting the secured card. Right now I'm not so concerned about my actual score as I am about building a good history and trust from the credit union- The scores will come in time. In a few months my year is up- I've will then have a unsecured card and a $1000 in a savings account that I didn't miss at all.
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