Hi I'm new to the forum as a member hut a long time reader. I'm currently looking for advice on which card (store or credit) to apply for. I'm currently rebuilding my credit profile. I have one Cap1 CC with a $200 limit opened 04/2011 no lates and an auto loan of 1 year with no lates. Only the Cap1 inquiry and a rejected chase freedom inquiry are on my report with the cap1 dropping in April. I pulled my 3 CRs from experian in Oct. And they were all between 718-725. I know those are just FAKO scores but hopefully they are close. AAOA is 9 months. No baddies on my report. What should be my next step? I was thinking of going for a Wal-Mart card then applying for a Barclays 6 months after that. Any advice from you guys is appreciated thanks!
I bet if you wait till April when you have a year and those inquiries no longer hit you, you can get a nice card at that time and you won''t have to settle for Cap One.
Just wait till then and apply for a decent card you may be surprised at what you can get.
FICOS 2/2012 EQ: 763 TU: 761 EX: 746 (1/2012 EX) Cards: Associated Bank Visa 9000, Paypal Mastercard 3000, Amazon Store card 1100, Barclays Apple Financing 2500, Cap One Rewards Mastercard 3000
@LS2982 wrote: i would wait and get some history on your accounts.
Once you have 6 months with the first card I REALLY think a person needs to add 2 more, and hopefully the 2 more you add are with prime banks that can grow with you.
Many in the last year have had great success with Amex Charge and Citi Forward with just 6 months history.
I have seen some denials but as I stated before with only 2 INQ I would risk another 2 to apply for the cards above I mentioned... At that point if both of those are declined I would be looking into a store card or a credit union to start building relationship with them.
Get the apps out of the way while you are young in credit.
thanks for the advice guys. When I applied for the chase freedom in Nov. I was rejected due to age of accounts and not enough revolving accounts. Do you think I'll run into similar problems with store cards or subprime cards? Sorry to ask so many questions but my plan is to get a mortgage in 2014 and I wanted make the proper steps.
@Anonymous wrote: thanks for the advice guys. When I applied for the chase freedom in Nov. I was rejected due to age of accounts and not enough revolving accounts. Do you think I'll run into similar problems with store cards or subprime cards? Sorry to ask so many questions but my plan is to get a mortgage in 2014 and I wanted make the proper steps.
No for store cards, they are very good about letting you in with little history. Especially GE
