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Hello,
I'm in the process of rebuilding my credit, I've been approved for and got 2 cc's so far. Been reading that 2 CC's and 1 store card are a good way to start out...what store card should I be safe applying for with 575 score? My score is mainly really low due to my defaulted student loans that I'm in the process of rehabbing.
THANKS
i agree with HTSU since you may be pushing the envelop if you continue to apply with your current scores, hold off until you see some gains from rebuild and age.
macy's is the better store card for rehab. 1st find out the issuer of the store card you are considering and if the card has good growth potential, many do not and you need to know that b4 app.
even if you shop at a store regularly it does not necessarily mean you will find the issuer/cc a good match for you.
@Anonymous wrote:Hello,
I'm in the process of rebuilding my credit, I've been approved for and got 2 cc's so far. Been reading that 2 CC's and 1 store card are a good way to start out...what store card should I be safe applying for with 575 score? My score is mainly really low due to my defaulted student loans that I'm in the process of rehabbing.
THANKS
Kudos for working on credit clean-up! And this forum is a great place to learn all the "ins and outs". I've been really blessed by it!!
I agree with hauling that you might want to let scores 'grow' a little bit before apping any further.
When you're ready to app, I'd suggest Chadwicks, Metrostyle, Brylane Home or Newport News. I got these accounts in 2006 and all started at $250. Chadwick's and Metro are now at $1780 and $1650, Bry is $850 and New News is $970, so at least there is some growth potential. My Target card is 1 /2 yrs old and is still at $300! Old Navy is 2 1/2 yrs old as just finally got up to $700 from starting am't of $250. The catalogue accounts I mentioned have fared much better and they report to all 3 CRAs.
I had a score of right at 600 when I apped for these. And they often offer 'no interest for 90 days' so I never paid interest on purchases.
Best of luck on the credit rebuilding!!