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@Anonymous wrote:
If you cannot afford to pay your charge offs (seeing as they are still somewhat fresh), perhaps you should reassess your credit needs. Even if your goal was attainable, would it actually, honestly benefit you?
+1 Unpaid charge-offs tend to scare off creditors so it might be best to look into settling or paying off your charge-offs before seeking more credit. Hit the rebuilding forum for some support and advice. Good luck!
Thanks for all the suggestions.
For the record, I was not intending on applying for anything right away. I wanted to wait until I have $0 balance on my credit cards. The only reason I even have them charged up is because of a few unexpected expenses lately. They will all be paid off in the next month or two.
Believe it or not, I do not live on credit anymore. I have learned alot since I was a teenager blowing money I didnt have, then going through a divorce and letting things go unpaid has hurt me for a long time now. I do not want that ever again. Ultimately, i want a 700 score so that when I go get a car or a house, I can always be approved with a good rate. And if i want to ever finance something else, i never have to worry about being approved. I do want a high limit airline credit card that I can use for everyday purchases, then pay it off each moth with the money that would have been used.. rack up airline miles for free flights. at least that is my goal.
Just yesterday, I went to my bank and opened up a separate checking/debit card account. I changed my direct deposit from my work to have a certain amount of money go to that account. The remaineder of my check goes into my old account where all my bills are automatically withdrawn. As long as I dont dip into this account for extras and stick to using my allocated amount from my new account, I should have an extra $1000-$1500 a month in that account... then I can pay off debt, chargeoff and collections over the next year.
@ScottL wrote:Thanks for all the suggestions.
For the record, I was not intending on applying for anything right away. I wanted to wait until I have $0 balance on my credit cards. The only reason I even have them charged up is because of a few unexpected expenses lately. They will all be paid off in the next month or two.
Believe it or not, I do not live on credit anymore. I have learned alot since I was a teenager blowing money I didnt have, then going through a divorce and letting things go unpaid has hurt me for a long time now. I do not want that ever again. Ultimately, i want a 700 score so that when I go get a car or a house, I can always be approved with a good rate. And if i want to ever finance something else, i never have to worry about being approved. I do want a high limit airline credit card that I can use for everyday purchases, then pay it off each moth with the money that would have been used.. rack up airline miles for free flights. at least that is my goal.
Just yesterday, I went to my bank and opened up a separate checking/debit card account. I changed my direct deposit from my work to have a certain amount of money go to that account. The remaineder of my check goes into my old account where all my bills are automatically withdrawn. As long as I dont dip into this account for extras and stick to using my allocated amount from my new account, I should have an extra $1000-$1500 a month in that account... then I can pay off debt, chargeoff and collections over the next year.
This is my goal also. For the past year I've been learning how to budget and living by PIF.
There are a lot of great posts in this thread! I will say that I personally had luck with Barclay Rewards. 2 years post CH7 and a 602 FICO (score they gave me) I received a 1,300 CL. I'd definitely echo others posts about getting utilization down a bit before applying. Good luck!