New Cards

[spartantx117]

I am trying to rebuild my credit and get it back on track. Long story short had some hard times and my credit went to crap. I started in the high 500s and am currently between 650(eq) - 735(TU). I am still showing between 1-3 collections and several (4-6) late payments depending on the bureau. First what is the best and most affordable sight to monitor this info? Secondly I applied for and got approved for a Capital One Paltnium with a 500 dollar cl and instant approval in late May. Last night I got a wild hair up my butt and applied for a Barclay Rewards MC and got a instant approval with a limit of 1300.. Almost everything on my reports should drop between Oct and March 2014. I am really wanting a chase card and Discover so should I just sit back and wait or try for approvals? Thanks for the info kinda new at all this. 

[09Lexie]

First, welcome to the forum. It is good that you are rebuilding and slowly putting your credit profile back on track. Slow and steady is always better . Although you might be approved for other cc's I would continue to work in your baddies so that you will not be stuck with low limits are bad terms. Try GW letters and OFD's if warranted.

You also might want to read through this thread:

http://ficoforums.myfico.com/t5/Credit-Cards/quot-Start-From-Scratch-quot-Credit-Builders-Handbook/t...

Edit: typo

[myjourney]

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@09Lexie wrote:
First, welcome to the forum. It is good that you are rebuilding and slowly putting your credit profile back on track. Slow and steady is always better . Although you might be approved for other cc's I would continue to work in your baddies so that you will not be stuck with low limits are bad terms. Try GW letters and OFD's if warranted.

You also might want to read through thus thread:

http://ficoforums.myfico.com/t5/Credit-Cards/quot-Start-From-Scratch-quot-Credit-Builders-Handbook/t...

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+1 

I agree whole heartly

Welcome to the forum glad to have you join us

[spartantx117]

Thanks for the link. I read through it and had already joined CK and credit.com. Ran my reports back in May and almost everything keeping me so far down should drop in Dec and then one in March and it should be clean excpt for my cards now and a few previos loans I had over the last few years. Yeah I was kind of thinking slow and steady as well just kinda excited about actually starting to get it back on track and getting some cards. 

[myjourney]

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@spartantx117 wrote:

Thanks for the link. I read through it and had already joined CK and credit.com. Ran my reports back in May and almost everything keeping me so far down should drop in Dec and then one in March and it should be clean excpt for my cards now and a few previos loans I had over the last few years. Yeah I was kind of thinking slow and steady as well just kinda excited about actually starting to get it back on track and getting some cards. 

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You should feel excite about your credit and this forum is a wealth of knowledge and all your answers can be found here.

So any questions you have please ask there's no dumb or stupid questions here only people willing to help.

Weclome again

[09Lexie]

In December you'll be in a much better position. Not sure if your derogs are spread across all bureaus but use this time to do some research on cc's and how they may fit into your lifestyle.

If you want cashback, travel, or another reward type card. Look at sign up bonuses and how much you'll have to spend and if those cc's will work for you in the long run.

[Swapmeet]

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@spartantx117 wrote:

Thanks for the link. I read through it and had already joined CK and credit.com. Ran my reports back in May and almost everything keeping me so far down should drop in Dec and then one in March and it should be clean excpt for my cards now and a few previos loans I had over the last few years. Yeah I was kind of thinking slow and steady as well just kinda excited about actually starting to get it back on track and getting some cards. 

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I recommend that you garden your two new seedlings until Jan first. Treat them well and they will treat you well. Make sure you have under 10% utilization--all used on one card and nothing anywhere else. On Jan first (or whenever the baddy is gone), you can app for a discover it and perhaps a wal mart card for the free fico every month as well as adding a store card to your portfolio. Then, garden until April. In April, you can apply for a freedom, Amex BCP, and any other store card you are interested or any other card you want (freedom and amex BCP were just examples--substitute any cards you want/need).

[09Lexie]

Yes, January my bad.

[spartantx117]

Yeah I just went over all three of my reports and everything (excpet the one in its Feb actually not March) drops between Oct and Dec and they do go across all three reports. Thanks for the good info and advice. I forgot I also have a card through Commodity with a 250 limit. so I will do like you said and garden them until Jan 1. Once again thanks for the info this has been a long time coming and im glad im finally getting over all this. 

[myjourney]

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@spartantx117 wrote:

Yeah I just went over all three of my reports and everything (excpet the one in its Feb actually not March) drops between Oct and Dec and they do go across all three reports. Thanks for the good info and advice. I forgot I also have a card through Commodity with a 250 limit. so I will do like you said and garden them until Jan 1. Once again thanks for the info this has been a long time coming and im glad im finally getting over all this. 

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Check into the garden thread 

We look forward to seeing more of you around here and the garden is great for meeting new people who have similar experiences.

They're willing to help you stay on course for your credit health and future