Credit Cards

[js0319]

My wife and I are in the process of repairing and rebuilding our credit. Right now we have a joint unsecured CC ($1k limit), an employer benefit loan (each), and both of our cars financed through a local CU that does not report to TU. Because of this, our TU scores are being left behind and not really moving like the other scores since most of our reporting credit is reported on EQ and EX. My wife has 1 CO with DSNB/Macy's, and about 6 collection acounts (one from LVNV on a GAP account) - 5 of which are medical (all unpaid). I have a CO w/ Discover, 2 collections - one w/ Midland and one w/ Asset Acceptance for CC's, and 2 medical (all unpaid). All of these, in addition to some paid collections, are from over 5 years ago.

We are working on getting the collections taken care of and have sent PFD offers to some, GW's to those that are paid, and we're following the HIPAA process with the medical accounts.

Her scores are (based on a lender pull from 2 months ago): 

EQ - 609

EX - 630

TU 04 - 594 

Mine are (based on a lender pull from 2 months ago):

EQ - 592

EX - 611

TU 04 - 567

I have a Capital One and an Orchard Bank CC that report to TU, but she does not. She only has the CU CC reporting on her CR - which doesn't report to TU. What CC companies that will report to TU are worth applying for might approve her. and what else can we do to try and improve our TU scores? We'd like to avoid those that pull all 3 bureaus, such as Capital One.

[chnceit]

You are on the right track and taking the neccessary steps to rebuilding your scores. 

Time builds your scores back up. But with those CO's it will hold your scores back for a while untill you get PFD for whom you sent it to.

Cap One is good card for rebuilding and I see you have a USAA FAKO scores and I assume you are a member with USAA. How about getting a secured card with them?

[js0319]

I'm not a member of USAA, I just have the credit monitoring service.

[chnceit]

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js0319 wrote:

I'm not a member of USAA, I just have the credit monitoring service.

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Ok

Then she should apply for a Cap One because they report to all CR. Also check out http://www.whogavemecredit.com/

[js0319]

What about the Amazon Store card? We've been on the fence about this one because it's GE (she burned GAP 5 years ago) and we're not sure she'd be approved with her TU score below 600.

[chnceit]

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js0319 wrote:

What about the Amazon Store card? We've been on the fence about this one because it's GE (she burned GAP 5 years ago) and we're not sure she'd be approved with her TU score below 600.

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I havent personally seen anyone with a 600 score get an Amazon card. But as what is mentioned on other post about GE that they do not "blacklist", but all situations are YMMV. 

[BearsAndTurtlesRtheBest]

Yeah so far cap one secured is the only one that comes to mind you can try applying for a GE card but your chances are low because most who have gotten approved for have a 630 and above if lower than your lucky if approved. You will want to try Cap One secured if you want it to report to TU since it reports to all CB's.

[js0319]

Does anyone think DW has a chance at getting one of the Capital One unsecured cards? If so, which one?

[Tryon2improve]

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js0319 wrote:

Does anyone think DW has a chance at getting one of the Capital One unsecured cards? If so, which one?

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No.  I would say she needs to be added as an Authorized User to your cards (if payment history is good) and work on getting the charge offs paid.  That would be the key to both your credit success.

[js0319]

My credit was worse than hers is right now when I got those cards. We have offer letters out right now for the CO's.