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Frequent Contributor
twall06
Posts: 340
Registered: ‎10-25-2012

Should I get another card

Currently I have a secured Merrick card with a 250 limit it was all I could out down at that time back in november. In December I got a credit one unsecured card with a 300 limit. Should i try for a Bank of America card or maybe US bank secured card since they graduate to unsecured. Or maybe a Cap1 secured not sure though since I just paid off a Card that is a legal item on my reports that was through them.


STARTED MYFICO TU 569 EQ 618 1-30-13
CURRENT MYFICO TU 664 EQ 656 Ex ? 3-13-14
MERRICK BANK FICO 539 12-26-12 / 649 2-17-14
GOAL 680+ last ap 5-30-14
Community Leader
Valued Contributor
improvingmycredit
Posts: 1,384
Registered: ‎07-12-2011

Re: Should I get another card


twall06 wrote:

Currently I have a secured Merrick card with a 250 limit it was all I could out down at that time back in november. In December I got a credit one unsecured card with a 300 limit. Should i try for a Bank of America card or maybe US bank secured card since they graduate to unsecured. Or maybe a Cap1 secured not sure though since I just paid off a Card that is a legal item on my reports that was through them.


Hello twall06!  Welcome to the forums!

It might help if we had a little more info on your credit situation.  Info like:  baddies and how many recent inqs and deniials, ect...   I wouldn't app anything just yet till we get a better idea of where you are credit wise.  2 CCs to start rebuilding is a pretty good start.  Thanks!


Starting Score: 642
Current Score: EQ 798, EX 780, TU 787 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, QuickSilver 20K, TotalRewards 18K

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Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,232
Registered: ‎10-02-2012

Re: Should I get another card

^^^yes what @improvingmycredit said give us more info and it wil be more easy to determine, although with your curent cards you can get into pretty good cards once they mature and you show good history.


$600$800$1,000$500(AU) $2,500
EQ FICO---, EX FICO---, TU FICO---, AAOA 5 months, Utilization 70%, No delinquencies of any sort.
Inquiries on EQ: 19, Inquires on EX: 30, Inquiries on TU: 21, Gardening Since 06-25-14
Established Contributor
bettercreditguy1
Posts: 744
Registered: ‎02-11-2012

Re: Should I get another card

My suggestion is do not get any more credit for one year to allow the current accounts to get a history. You have already reduced your score with the inquiries, they need to age off.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Valued Contributor
SnackTrader
Posts: 1,563
Registered: ‎09-15-2012

Re: Should I get another card

+1 to bettercredit. Please Garden for a while. If you need inspiration check out the Garden Club thread. Also, let us know what type of baddies you have and how old they are. That way we can let you know how long we think you should Garden. If your baddies are recent, you may need to Garden for up to a year. But if they are old, you might be able to apply for new cards in 4-9 months.

In My Wallet: Amex BCP (12/12) $22.200, Chase CSP (4/14) $12,000, Barclaycard Arrival (5/13) $10,500, Citi Forward (12/12) $9,600, Cap1 Cash Rewards (6/12) $9,000, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Frequent Contributor
twall06
Posts: 340
Registered: ‎10-25-2012

Re: Should I get another card

I have quite a few baddies I had three charge offs and a legal item from capital it is all paid off now and got a lot of it off my report . In a few months all the negatives should be off . Not sure what to do about the legal thing I paid it off already . I went ahead and applied for a cap 1 even with the judgement I got approved. Now I'm going to garden . My goal is to get a house next year . I don't carry balances and most of the time my utilization is under 10%

STARTED MYFICO TU 569 EQ 618 1-30-13
CURRENT MYFICO TU 664 EQ 656 Ex ? 3-13-14
MERRICK BANK FICO 539 12-26-12 / 649 2-17-14
GOAL 680+ last ap 5-30-14

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