Wanna app Spree-with Med Collection

[Anonymous]

have been browsing lately, noticed a lot of people here doing app spree with medical collection accounts.I m tempted. My EQ & TU are on freezing as of July 1, 2014.

My best FICO score is 611 with EX (as of 6/30/2014; before the zero balance on credit cards).  I have OpenSky (Capital Bank) $250 Secure Credit Card  with one year of on time payments and as of 7/4/2014 balance is $0. the renew date is 7/14/2014 and AF= $50.Is it worth it.

I have a $600 medical collection account whose 4 years SOL ends in Sept 2014. I just got the $300 KOHL's approved last month, paid in full and zero balance. (first month Reported).
I have two Recent inquiries 1) KOHLs (5/25/2014) and 2) Reliant (6/14/14) a utility company along with Cap1(6/2013) and Two Bank of america (10/12).

Given that i want to AppSpree only EX and with the recent score of 611 with med acct, will i be approved for a VISA/MasterCard/Amex or wait till 4 years of medical account is out. ? After reading here, the cards i have come to believe pulls EX only are

Amex BCE/ Delta Gold Skymiles/ Costco True Earnings Card

FNBO Omaha (Platinum Edition Visa)

CitiAdvantage (masterCard)

Sam's Club (MasterCard) not sure if EX is what it pulls

or

Should i end up with another Secure Card with a higher limit than $250 andb wait till that secure card has 6 more months of online payments.  

[HailtotheVictors79]

I'm not an expert but I don't think you will get approved for any of the Amex or the Citi. I don't know much about the other 2.

[HailtotheVictors79]

Did Cap1 deny you?

[Anonymous]

No haven't applied to Cap1 becoz they check all three reports and EQ & TU are on Freeze. (TU denied Walmart/.Discover It) and EQ is lowly 510 score.

The secure card is thru Capital Bank not CapitalOne

[Anonymous]

with the understanding that you are not an expert please share your view of why Citi or Amex will not approve?

[HailtotheVictors79]

Based upon your score and the fact that you have no credit history involving an actual credit card, I would say you would have trouble with them. 

[TheFate]

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@Anonymous wrote:

with the understanding that you are not an expert please share your view of why Citi or Amex will not approve?

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Because your scores are very low, you have newly aged accounts and too many derogatories.

If I were you I would just keep building and work on getting those secured cards unsecured and those baddies removed before app spree'ing.. Just my opinion

Amex and Citi both require higher than 650+ to be approved to my understanding.

But if you do decide to app spree I wish you the best of luck and let us know the results!

[Anonymous]

Its exactly what i am debating in my head too. Whether to app spree with a 611 EX score. But also something i know, there isn't another card (like KOHLs) or Secure Card thats going to raise my scores anywhere up. I m not so blessed just yet to have someone do an AU for me.

thank you for being honest.

[HailtotheVictors79]

Time with what you currently have will raise your score. Paying on time and as the baddies age.

[DaveSignal]

I think it will be difficult to get approved with any prime lender while having an upaid collection.  And hitting the 4 year SOL does not remove the unpaid collection from your credit reports.  If you could find a way to get this reporting a $0 balance, maybe even by working out a settlement, these lenders might start to look at it as a past issue that was taken care of and may offer credit.