01-19-2010 11:52 AM - edited 02-13-2010 12:12 PM
First and foremost, I want to thank everyone who has contributed to my credit education.
I came to this site knowing very little about how credit worked. As of mid 08', all my FICO's were in the high 500's. I had 4 collections and a charge-off. two of which I had paid trying to make good, and ended up with PAID collections on my CR's... ugh. I had no active tradelines reporting, and only a positive full year of an auto loan to show.
I researched and asked around, and with alot of knowledge, a little luck, and some time, by the end of 08' I gained three secured cards (all report as normal credit cards) at 200, 200, and 400, and ALL collections had been removed!!! I decided to let the cards mature a full year before seeking a new wave of credit.
Fast forward to now. TU FICO of 711, EQ FICO of 709. Oldest account 6 years, AAoA 3 years.Util at 33%. Total of three 30-day lates, most recent was 33 months ago. I just paid down my cards to 1% util, and added 400 to the lines for CL's of 200/500/500. Once the accounts re-age next month, and I pick up a few extra, I intend to apply for new credit. I have no inquiries in the past 15 months.
I bank with BofA, but once had a chargeoff. Cleared from my CR, but I am blacklisted from ever likely getting a card with them in the near future. WHAT to apply for is my question...
I'd like one, maybe two gas cards, likely Shell and Chevron/Texaco. Hoping for at least 500 CL each.
I'm thinking of starting to bank with Chase, as they are everywhere near me. I'm hopeful for getting a good CL with them.
I intend to join a local Credit Union as well, and they have many good credit products.
Also considering a store card. Lowe's? Macy's? worth it? Any input on what I should be gunning for in this app spree would be appreciated.
Im not expecting a 10k+ credit line here, but a few solid 500-5k cards would be great in my eyes. Am I aiming too high or too low?
Here's looking forward to new credit!
UPDATE 2-13-10: Was added to a family member's 10k discover as an AU. Score jumped from ~710 to ~760. Got bold and applied for Citi Platinum Amex. Got 7-day review msg, and just found out I was APPROVED for 12k!!! Good way to start my app spree!
01-19-2010 12:45 PM
01-19-2010 01:20 PM
Are you going to be buying a car or a home anytime soon? If so, I would push hard to do all banking and most credit through the Credit Union. They are going to most often give you the best rates on the auto and home loans, and are more generous to their members who have other products with them and use them heavily.
02-13-2010 01:25 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.