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Valued Contributor
madmann26
Posts: 1,432
Registered: ‎08-30-2012
0

Question about app'ing for new cards

So, I'm in the middle of my rebuild. I have paid all of my old CO accounts and I only have 2 CA left to pay. Since September 18th 2012, I've been able to raise my score 79 points.

 

 

So, this morning, my AU Cap1 account finally report and my utilization is 8% across 2 cards. I am on my 2nd statement with the Cap1 and will be hitting my 1st statement this weekend on my NFCU card.

 

My question or quandrum is this, how soon do I app for something else?

 


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 705|EQ 690|EXP 698 (FICO)
What's in my wallet? Cap1 PLAT AU $1.25k; Cap1 Cash AU $2k; NFCU Siggy $23k; $4k WalMart DC; CFNA Firestone $2.2k; Amazon $2.1k; NFCU Cash Rewards $22K; AMEX BCE $18k; NavCheck $15k; Lowe's $10k; Citi DP $6.3k; AMEX ED $8.5k; Chase Freedom $4.5k
Goal Score: 700 across the board.
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Revelate
Posts: 8,978
Registered: ‎12-30-2011
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Re: Question about app'ing for new cards

[ Edited ]

How many cards do you have now?  If it's 2+ and the AU, just wait it out till you get to roughly 640 - that opens up a whole wealth of new options for cards which are solid.  If you have less than 2 of your own cards, then I'd recommend applying for something else likely in the secured range.

 

If you need something sooner which has a rewards package, BOFA's secured card is an excellent choice with FICO's still in the 500's as they now offer their reasonable 1-2-3 rewards package on it.  

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Frequent Contributor
brother7
Posts: 377
Registered: ‎02-06-2009
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Re: Question about app'ing for new cards


Revelate wrote:

If you need something sooner which has a rewards package, BOFA's secured card is an excellent choice with FICO's still in the 500's as they now offer their reasonable 1-2-3 rewards package on it.  


I know someone who's in the same boat as OP. Is this the card you're recommending?

https://www.bankofamerica.com/credit-cards/products/secured-credit-card.go


11/02/2012 Peak - EQ 790 (ScoreWatch EQ FICO)
08/22/2014 Current - EQ 796 (Priceline TU FICO 08 Classic)
GOAL - 800! - App free since 09/07/2014
Valued Contributor
madmann26
Posts: 1,432
Registered: ‎08-30-2012
0

Re: Question about app'ing for new cards

Right now, my FICO on EQ is about 590, based on the last alert from this past weekend from myFico. I hoping for a nice bump soon. As for the mix of cards,

 

I have 2.

 

Cap1 - AU

 

NFCU - secured

 

Thanks in advance,


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 705|EQ 690|EXP 698 (FICO)
What's in my wallet? Cap1 PLAT AU $1.25k; Cap1 Cash AU $2k; NFCU Siggy $23k; $4k WalMart DC; CFNA Firestone $2.2k; Amazon $2.1k; NFCU Cash Rewards $22K; AMEX BCE $18k; NavCheck $15k; Lowe's $10k; Citi DP $6.3k; AMEX ED $8.5k; Chase Freedom $4.5k
Goal Score: 700 across the board.
Take the FICO Fitness Challenge
My Journey

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