11-20-2012 06:27 AM
In Aug 2010 I was discharged BK. In October of 10 I got a 500$ rebuilder card from Cap1 that I used wisely only for travel or online purchases and PIF. In Feb 11, I bought a car through cap1 blank check financing. A few months ago I received a preapproved offer for Barclays rewards mastercard and I accepted it.
I was going to garden until February when the 2 car shopping inquiries fall off my report and my Barclays has aged over 6 months, and then I planned to app for WM. However, yesterday I received a preapproval offer from WM and I'm really tempted to go for it. I would love to take advantage of the 0% financing and the free TU score. I'm afraid of Barclays closing my account or not giving me the promised CLI at the end of 6 months. What would you do?
3 inquiries on report
2 cards (1 a Barclay <6 months old)
Should I app WM?
11-20-2012 06:34 AM
What's your Fico score buddie !??? AAOA ??
11-20-2012 06:35 AM - edited 11-20-2012 06:37 AM
I would wait...you dont really need the walmart card, and even the score isnt really that big of a deal. For rebuilding purposes somthing like CK provides access to your report and thats all you need.
You have a good setup with the 2 cards and 1 installment loan, just be patient. And let your score build.
11-20-2012 06:42 AM
wait a lil. Bit till your score close to 700 then apps for some CC that you really want.......Do them all at one so they all aged at the same time........
I will wait for a lil bit..........Just be patience.....
11-20-2012 07:47 AM
I am signed up at CK, but I thought their score wasn't accurate? The site says they use TU info, but lots of ppl say the score is a FAKO. So is it really just as good as using the WM free TU check?
11-20-2012 08:26 AM - edited 11-20-2012 08:27 AM
The info from CK is fine and accurate (except their AAoA calculation) but the score is essentially worthless. If it is inline with a FICO TU it's mere coincidence. WM gives your TU08, MyFico.com Quarterly Monitoring gives you TU98, and many lenders use TU04. The good news with apping for the WM card is it only hits you once for a HP from TU. I doubt that would kill Barclay's, but who knows.
Does your credit mix need it?
Will is help your UTIL?
What is your AAoA and will this hurt it?
Are you applying for credit in the next 6 months for something other than a CC?
Do you intend on using any of the WM perks like Gas, 0% electronics, etc?
|Chase Freedom $9500|
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
|Lowe's CC $8500|
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
11-20-2012 08:44 AM
I have often heard on these forums that having 3 cards is the best way to go. My utilization right now is 0 and I'm not planning on applying for any credit or other cards for a long time. I eventually want a couple of really prime cards, but I know that's at least 4 more years down the road because of the BK. I would possibly take advantage of the perks during the holidays, but it's not a sure thing.
11-20-2012 10:55 AM
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.