@Kevin86475391 wrote:
It sounds like she's made some progress but still has a ways to go before she's consistently exercising good financial habits. To be honest at this point I don't think access to more credit is in her best interest. I think she should use and manage the $300 Cap 1 cards for a good bit longer, get the hang of consistently not missing payments or maxing them out, then if she wants/needs to maybe apply for something else, but not right away. I'd say give it 12-18 months to let good financial habits sink in with these lower limit cards.
I also agree that building up a cash reserve is crucial for her.
I'd personally suggest trying to get her to establish a really fixed system of managing and paying her cards on time, with plenty of wiggle room and fail safes built into it. Maybe fixed days to make payments that are weeks ahead of her due dates, daily logins to track balances, perhaps a special checking account earmarked only for paying credit card bills with at least the full credit limit in reserve that she pays back as soon as she makes a payment, that type of thing.
Short answer though, now that she's paid off her cards I think what's next should be keeping them paid off and using them responsibly for a good long time before going any further.
Anyway best of luck!
Right. Plus, what others have mentioned upthread.
For now: build cash reserves/savings and adopt some realistic budgeting. This includes re-establishing a positive history with the current cards under her name (especially those that she's been late in the past). Regardless if she's paying finance charges and AF on one of your cards, you're still the responsible party if things go south.
As far as Capital One goes, if those late payments are recent (i.e. less than 6 months ago) it can take anywhere from 6-12 months before she can be eligible for a CLI. Honestly, I don't see Macy's happening at this point in time.
