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Regular Contributor
sbeasl11
Posts: 122
Registered: ‎07-23-2012

Newbie rebuilding..what next?

EQ-638-9/17/12

TU- 640 - 7/12/12

EX- 571- 7/24/12

 

1 PAID/Satisfied Judgement (yes, I know....killing my score)

3 charge offs...1 cap1 & 2 HSB...all PAID

1 charge off...not paid yet for WFNNB..trying to DV the CA

PAID GM Financial- many 30 days lates-trying to GW to make positive tradeline

All DOFD around 5/09

 

AAoA is about 7 years

 

Positive tradelines are:

Timeshare installment 9 years positive reporting

BELK $400 opened 6/2012

Secured BofA $500 opened 8/2012

 

I've read that I really need 2 credit cards for improved scoring. I was denied Wal-Mart, but will try again soon (and in store this time)

I have to stay clear of WFNNB, HSBC, & Cap 1. Can't get in with NFCU until January.

Should I try USAA? Have opened checking & savings & will add insurance soon. Think I can get a secured card with them?

What other cards should I go for with those scores?

Frequent Contributor
AvaMommy
Posts: 297
Registered: ‎08-08-2012

Re: Newbie rebuilding..what next?

Are those FAKO or FICO scores?

Starting Score: FAKO: TU 602 EQ 550 EX 565 - 08|2012
Current Score: MyFICO: TU 633 EQ 637 EX 669 (AMEX PULL)09|2012
Goal Score: 700 across the board In my wallet: NFCU cashRewards 12000CL, NFCU LOC 10K CL, BofA cashRewards 5000CL, BofA PP 3000CL, JAREDS (AU) 1500CL, SEARS (AU) 7000CL
Under my mattress: Orchard Bank 320CL and Saks Fifth Avenue 100CL. Finally in the Garden. App Free Since 9/18/12 - No apps until March 2013
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: Newbie rebuilding..what next?

I think another secured card is best for you.    You may want to wait until you have 6 months reporting on your BofA.     You may want to increase your deposits to larger levels if you can afford.

 

 

Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011

Re: Newbie rebuilding..what next?


sbeasl11 wrote:

EQ-638-9/17/12

TU- 640 - 7/12/12

EX- 571- 7/24/12

 

1 PAID/Satisfied Judgement (yes, I know....killing my score)

3 charge offs...1 cap1 & 2 HSB...all PAID

1 charge off...not paid yet for WFNNB..trying to DV the CA

PAID GM Financial- many 30 days lates-trying to GW to make positive tradeline

All DOFD around 5/09

 

AAoA is about 7 years

 

Positive tradelines are:

Timeshare installment 9 years positive reporting

BELK $400 opened 6/2012

Secured BofA $500 opened 8/2012

 

I've read that I really need 2 credit cards for improved scoring. I was denied Wal-Mart, but will try again soon (and in store this time)

I have to stay clear of WFNNB, HSBC, & Cap 1. Can't get in with NFCU until January.

Should I try USAA? Have opened checking & savings & will add insurance soon. Think I can get a secured card with them?

What other cards should I go for with those scores?


You can only get secured USAA if you're a full member, IIRC.

 

I would wait till you can get in w/Navy Fed. In the meantime, try to GW the paid COs. Getting a new CC right now isn't going to do much for your score; it could even go down a bit. No way to predict. You already have 3 pos TLs reporting, so I'd concentrate on getting as much of the bad off as you can.

 

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Contributor
tmbr10
Posts: 101
Registered: ‎04-06-2012

Re: Newbie rebuilding..what next?

Work on the baddies really hard right now. You are in a hole but it can be overcome. Trust me, I was deeper.

 

Eventually, First Premier or something like that may come along. These cards are not perfect. Actually far from it. But they do have their place in credit evolution/repair. 

 

Be very careful with your INQ's. You do NOT want to appear to be desperately looking fro credit.

 

Back to working on the baddies.... Configure the date that EACH one will auto remove from your credit report and keep this list. Try and speak with the creditor that lists each baddie. Some may be incline to remove the baddie. Others will "toe" the company policy and leave it. That's just life.

 

 

Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012

Re: Newbie rebuilding..what next?


Wolf3 wrote:

I think another secured card is best for you.    You may want to wait until you have 6 months reporting on your BofA.     You may want to increase your deposits to larger levels if you can afford.

 

 


I agree with wolf, i would focus on just increasing your limits you currently have via deposits



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:
Regular Contributor
sbeasl11
Posts: 122
Registered: ‎07-23-2012

Re: Newbie rebuilding..what next?

Thanks for all the replies!

The scores listed are all FICO. 

 

So majority seems to think that getting another credit card wouldn't help? Not even another retail card? I thought now that I'm in with GE that it may be easier to get another one...hopefully Wal-Mart. I also considered maybe Kay Jewlers since it would probably increase my limit a good bit.

 

I read that BofA is one of the hardest cards to get and I got it, so I do not want to get a sub-prime. I'd rather wait & go for USAA or NFCU when possible. Can become a full member with USAA and maybe when I apply they will counter with a secured....

 

Surely I need more than 2 cards to rebuild...?

Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011

Re: Newbie rebuilding..what next?


sbeasl11 wrote:

Thanks for all the replies!

The scores listed are all FICO. 

 

So majority seems to think that getting another credit card wouldn't help? Not even another retail card? I thought now that I'm in with GE that it may be easier to get another one...hopefully Wal-Mart. I also considered maybe Kay Jewlers since it would probably increase my limit a good bit.

 

I read that BofA is one of the hardest cards to get and I got it, so I do not want to get a sub-prime. I'd rather wait & go for USAA or NFCU when possible. Can become a full member with USAA and maybe when I apply they will counter with a secured....

 

Surely I need more than 2 cards to rebuild...?


 

Curious where you got your EX FICO.

 

Do you qualify for full m'ship in USAA? If so, you might be able to get a secured card with them.

 

Otherwise, I would wait and join NFCU. More store cards aren't going to help you right now. You are getting denied because of the baddies on your CR. All you need to establish good credit and have high scores is 2 pos TLs reporting. You already have that. A secured card will help in the long run, but only if you can get the baddies off.

 

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Regular Contributor
sbeasl11
Posts: 122
Registered: ‎07-23-2012

Re: Newbie rebuilding..what next?

When BofA originally denied, I called for recon & got approved. They sent me a denial letter anyway, with EX FICO inluded.

 

Isn't going to be next to impossible to GW since one is Cap1 & the other 2 are HSBC...which is now owned by Cap1. I've read they almost never GW, but I will try.

These accounts were sold to Midland & Calvary Portfolio. Too bad I didn't know about PFD when I paid all these in 7/09. I have also read that these are two of the tougher CA to get to remove :smileysad:

 

Which would be easier to obtain...USAA secured or Wells Fargo secured? DH is a disabled veteran, so we can get full membership with USAA. I am definitely waiting to jump on NFCU in January.

 

Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012

Re: Newbie rebuilding..what next?

is there any way you could throw some extra cash into another secured card? maybe check out a local CU for secured products.



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:

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