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New Member
lowCreditscore
Posts: 2
Registered: ‎10-25-2012
0

What are the Credit Card guidelines

What are the guidelines for most CC and is there some out there that would extend credit to me.

 

My current Credit scores are

Experian - 592

Equifax - 595

TransUnion - 574

 

I would like to at some point have good credit scores . I currently have 5 unsecure credit cards Orchard, Credit One, First Premier, Applied Bank, Capital One, and Matrix Discover  all with balances less $500 I am in good standing.  I have had the Cap One since 3/11 and I have recieved 1 $200 CLI since I have had it. I would like to know what do I need to do and how long should it take  to get a score of 660 and above.

Frequent Contributor
jd5189
Posts: 470
Registered: ‎08-14-2012
0

Re: What are the Credit Card guidelines

It seems you have some derogs on your report. Most of the CCC's that extend high CL's look for a clean report. What derogs do you have and have you tried getting them removed? If not, when do they fall off your report?

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Frequent Contributor
wallyworld123
Posts: 455
Registered: ‎01-04-2012
0

Re: What are the Credit Card guidelines

welcome, I believe right now you may want to be patient and continue to pay on time. You are on the right track but, it does take time to build. sometimes its hard because we want things when we want them.

Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012
0

Re: What are the Credit Card guidelines

+1

Valued Contributor
beb86
Posts: 1,115
Registered: ‎10-31-2011
0

Re: What are the Credit Card guidelines


lowCreditscore wrote:

What are the guidelines for most CC and is there some out there that would extend credit to me.

 

My current Credit scores are

Experian - 592

Equifax - 595

TransUnion - 574

 

I would like to at some point have good credit scores . I currently have 5 unsecure credit cards Orchard, Credit One, First Premier, Applied Bank, Capital One, and Matrix Discover  all with balances less $500 I am in good standing.  I have had the Cap One since 3/11 and I have recieved 1 $200 CLI since I have had it. I would like to know what do I need to do and how long should it take  to get a score of 660 and above.


pay all your balances down and maybe leave like 10 bucks on one and just baby them and take care of them. Time heals all so it will take some time just work on cleaning up your credit report and taking card of your current cards and you should be fine after some time 

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webhopper
Posts: 7,225
Registered: ‎09-16-2011
0

Re: What are the Credit Card guidelines


jd5189 wrote:

It seems you have some derogs on your report. Most of the CCC's that extend high CL's look for a clean report. What derogs do you have and have you tried getting them removed? If not, when do they fall off your report?


I agree...  take a look at your report and see if you have any chargeoffs, collections, public records, or late accounts...  Usually you can bring your scores up to the 600s by simply taking care of derogatory information and accounts...     If you never take care of these things, then it can take up to 7 years to get the scores you want.


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
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New Member
lowCreditscore
Posts: 2
Registered: ‎10-25-2012
0

Re: What are the Credit Card guidelines

Are you guys suggesting that I should also dispute some of the defogs on my credit reports. Is there a website I can go to to dispute those negative items?

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: What are the Credit Card guidelines

dispute with experian, transunion, equifax with hand written disputes on yellow legal note pads with purple pen in cursive (it works) typed disputes often do not. They don't even look at your disputes and feeds them through a machine that verifies things.

 

Then you send a debt validation letter to the collections agencies, many times the company on the reports don't even have a legal right to collect

 

623 letter from the original creditor requesting documentaiton

 

then if nothing gets resolved then BBB attorney general CFNA etc. There are a lot of routes to go , I had my score in the 400's last year with only 2 secured cards even declined for BOA secured card -_-; now I have 50k in credit cards with a 754 Fico score. I was able to remove EVERYTHING due to illegal violations. Just research it online, anything can be removed.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
0

Re: What are the Credit Card guidelines

Check out the rebuilding credit forum for great rebuilding rehabbing your credit.

 

As for what cards, for right now, the cards you have are probably all you're looking at for the time being. I agree with paying them down and then waiting.  You'll want to then find a card that actually grows with you.  Walmart store card is the first one that comes to mind that you're not that far off from.

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
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OptimasPrime
Posts: 348
Registered: ‎08-17-2012
0

Re: What are the Credit Card guidelines

Just curious where you got those scores from? I'm thinking they might be fako's since experian ficos are not available for sale/ can only be obtained from a lender pull.

 

If they are fako's your actual fico score may vary wildly

EQ 778 | TU 776
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