I would like to first mention that I thank this board for giving me such a wealth of knowledge that I could never repay. I recently closed on my first house last week and I am so elated. It took me two years to get my scores where I wasn't embarrassed to say the numbers. It was all because of this board that I was able to close on my house and getting my credit to a better place.
My GOAL is to be 740+ across the board in fifteen months. With that being said let's get down why I POSTED. I have one secured credit card (open 12/2011 with a 500 credit limit and no car loan. The only two things reporting on my credit is one secured card and my student loans everything else is closed and as you can see I have lived without credit for awhile. If you need any additional information just let me know. I need another credit card, what do I qualify for?
Equifax 5 ( 2 of them will fall off 11/2013
Transunion 6 (5 of them will fall off 112013
Experian 4 (3 will fall off 11/2013
All lender pulled scores
I have 3 charge-offs
BOA- Balance 7500 (Paid half of the balance) Settled for less on CR .....Will fall of 3/2014 off CR
Macy's- Balance 1k(Paid in full) .....4/2014 will fall off of CR
Capital One- 1500 (Paid 90% of the balance) Settled for less on CR..Will fall off of CR 9/2013
BOA-9200 PAID IN FULL(Numerous late) Will fall off 12/2013
Paid tax lien ($889) paid 3/2009 only shows up on equifax
Central financial 550( settle for less) They won't delete
Gym Membership ( Paid in full) They won't delete (Only on transunion)
Student Loans 55k
Paid on time for the last 18 months
I have 5 student loan trade lines that were late 4 times in each tradelines (tradelines are consolidated.
If you want an AMEX, apply for a Charge card, they are pretty easy to get worst case is they deny you, they always pull EX for charge cards. Most of the stuff look old so hopefully they will ignore it. Apply for any charge card that has the first year Annual Fee waived perferably get the AP in before December 30th so you get a 2012 membership date that gives you the best chance at backdating on your next AMEX card.
I would suggest looking into a credit union or into a starter card like capital one newcomers. Right now the baddies will hurt you with prime lenders and you need to get some positive history under your belt. There is light at the end of the tunnel though. Another six months of all on time payments and adding another tradeline will help you out. Slowly but steadily your scores will creep up and in a year you should be feeling much more confident.
you need to apply for amex green charge, then delta gold - only, with those COs
I personally would not recommend applying for any amex cards right now as they are very sensitive to baddies. Apply once you are in a stronger credit position after 6-12 months
I also would like an amex, but my scores are not there yet. After I was declined for an amex green, they sent me an email with information about their prepaid card. With the prepaid card, you can load it from your bank account as it depletes or you can set up a direct deposit (not more than 5k per month). This prepaid card does not report to the credit bureaus, but after 6 months they may consider you for a charge/credit card with usage. Just an FYI. Seems like it might be getting a foot in the door. I just signed up.
I was also thinking that a charge card would be my best option at this point. I was thinking should I wait until my last tax lien to fall of my credit before I apply? I had a amex 10 years ago that was charged off but I paid it in full and it's no longer reporting on my credit.
Why don't you apply for a charge card right now? Worst case scenario is they deny you and you come back to apply in 6 months.