05-04-2013 10:03 AM
So here's the deal... I have two CC's. one is a store card with $1000 limit the other a secured card with a $500 limit. My transunion report says "not enough premium bankcard accounts on your credit report" So what CC's should I apply for? My Equfax score is 645 and my TU is 601. I was denied a walmart card a couple of weeks ago and I am showing 3 Inq on EX, 2 on TU, and 3 on EQ. Should I just wait it out?
05-04-2013 10:12 AM
05-04-2013 10:22 AM - edited 05-04-2013 10:23 AM
Do you have any baddies on your reports? I have a number of lates on my student loans and a few on The store card up to a couple of years ago. Do you have any installment loans reporting? I have a mortgage(never late) since 2003, and Student Loans since 2000. How long have you had the current cards? The Store Card I have had since 1996 with a few lates in 2010, but current for the last 3 years. I got the Secured CC in Feb.
What are your credit needs? I am looking to refinance my mortgage which is at 6% now I am trying for a 15 yr at as low a rate as possible. Why do you want/need more credit right now? The biggest reason is to lift my TU score to above 640 to do a Mortgage Refinance.
05-04-2013 10:33 AM
The lates on my Student Loans were Major lates, a number of 120s back in 2010 when I lost my job, got behind and took almost a year to catch up. (Almost feels like I should have defaulted back then instead of perpetuating the 120s.) The lates for my Store card were all 30's back at that same time. My Utilization shows 50% for the secured and 20% for the Store Card.
05-04-2013 10:50 AM
05-04-2013 11:01 AM - edited 05-04-2013 11:02 AM
Unfortunately, This sounds about right. I have been working on rebuilding my credit over the last 2 months and have seen a large return on my work (539 - 645 EX 510 - 601 TU Since Feb). I am pretty much down to the waiting game... Getting Nelnet to drop some of those 120s is going to be next to impossible. I was hoping I could do something other than wait. I don't like to wait and not take action.
Thanks for your help.
05-04-2013 11:21 AM
05-08-2013 09:25 AM
If you would like, fax a copy of your credit report along with your dispute to Nelnet Credit Disputes at 402.458.2298. They will review your dispute and send you a letter afterwards with the action, if any, taken.