So I have been working on my credit. EQ shows at 615 now. My score is pretty much due to my moderate to high utilization. I'm planning on applying for a mortgage next year and was told that I needed another cc to show a mixture of credit. During my teens I was financially illiterate and many of the cc I opened were closed due to delinquency, since coming to the forums I have GW'd many of the late payments and now I'm only left with one derog that is scheduled to drop on 2/2013. Currently I have a Macys card and a Cap1 with low CL. I've been trying to apply for another card but I am finding it hard since everyone keeps denying me. I read some posts and a target card seems like the way to go but I' m worried that its another store card and not a cc. What can I do? Any suggestions?
Well it would improve your score and your chances for new credit if you got your utilization down below 10%. After you do that, you should looking into joining a local credit union. If you can't qualify for a card through a CU, you should consider a secured CC. Secured cards from credit unions or prime lenders usually automatically unsecure after a period of on time payments, but you would want to make sure that the card you get will graduate to unsecured status at some point.