Credit Cards

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Established Contributor
lithium78
Posts: 775
Registered: ‎07-30-2011

Re: What are the Credit Card guidelines

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‎10-25-2012 02:19 PM

Look into the sample goodwill letters on the rebuilding sub-forum. With a few modifications, I was able to use a couple of those letters and get a 90 day late and 30 day late on two credit cards removed from my credit reports.  If you are persistent with it, it can really help your rebuilding.

Starting Score: TU: 566
Current Score: TU: 714 (Walmart FICO); EQ: 747 (MyFico) EX: 695 (MyFico)
Goal Score: 800
Take the FICO Fitness Challenge
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HiHiHiHiHiHi
Posts: 62
Registered: ‎07-21-2012

Re: What are the Credit Card guidelines

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‎10-25-2012 02:35 PM

I would suggest cancelling the Matrix Discover because of the extremely high annual fee.

Scores: EQ-798 EX-802 TU-786

CC: |Citi Simplicity - 20.8K| |CapOne No Hassle Rewards - 20K| |Chase Freedom 17.5K| |CSP 10K| |Discover IT - 7.8K| |Discover More - 6.1K| |GE PC Richard - 4.5K| |Citi Goodyear - 2.5K| |CapOne Kohls - 1.5K| |GAP - 1.5K| |Macy's Amex - 1K| |Ann Taylor - 0.5K| |NY&C - 0.5K|
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JonStur
Posts: 470
Registered: ‎12-25-2010

Re: What are the Credit Card guidelines

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‎10-25-2012 03:19 PM

There are obviously some items on your credit report holding your scores down. Until they get removed or fall off, you are really not gonna get cards that are much better than what U already have... With some work, you can make it happen!!!

Starting Score: TU 686 EX 641 EQ 690
Current Score: TU 779 EX 767 EQ 740
Goal Score: 800 Club
BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
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Established Contributor
lithium78
Posts: 775
Registered: ‎07-30-2011

Re: What are the Credit Card guidelines

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‎10-25-2012 05:06 PM

HiHiHiHiHiHi wrote:

I would suggest cancelling the Matrix Discover because of the extremely high annual fee.

Did Capital One take over the Direct Rewards Discover from HSBC?  If he really wants a Discover, that might be a decent option if it's still available.  It has a $59 AF, but at least it offers a rewards program.

Starting Score: TU: 566
Current Score: TU: 714 (Walmart FICO); EQ: 747 (MyFico) EX: 695 (MyFico)
Goal Score: 800
Take the FICO Fitness Challenge
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