05-06-2009 09:25 AM
I'm in the process of rebuiling my credit (see scores below). I currently have 5 open CC per the following:
Eufora (this is a pre-paid CC that has a credit builder program - CRAs treat it as an installment accout) - I actually LOVE this card b/c my husband and I go out alot and the bars always want a card to hold to start a tab - this card is PERFECT for this! If someone steals the cards/copies the number, there's NEVER any money on it (I put $10/mo on it and they charge me $10/mo for the credit builder program)! The joke's on them! NO RISK!!
Continental Finance ($300 limit)
First Premier (was $300 limit, but just received a $100 CL increase today)
Chevron ($700 limit right off the bat!)
Shell (applied for/received the same day as Chevron, but only a $200 limit)
Two months ago I was declined for a Beall's account, but would like to have a department store card (and Bealls is THE ONLY ONE THAT I REALLY WANT). Any ideas which department stores are most likely to extend credit based on my current scores?
Also, I'd like to have another major CC (not sub-prime) - any ideas (other than secured) which companies are most likely to extend credit based on my current scores? I usually pay only pennies of interest between the Cont. Fin. and the First Premier card b/c I don't carry much of a balance, but the monthly "service fees/account maintenance fees" are ridiculous. They even charge to make payments online (I mail mine)!
I've watched my reports for the last several months and I know within a day or so of when each one of my cards reports my balances to the bureaus - and I just make sure that my balances are below 20% utilization (or less) by then! It's a great system if you have the time to really watch/pay attention.
05/04/09 - FICO scores: EQ - 660, TU - 647
04/21/09 - FICO scores: EQ - 711, TU - 642
02/28/09 - updated Tri-Merge: EQ - 699, EX - 651, TU - 571
09/01/08 - starting scores (Tri-Merge Morgtage Enhanced): EQ - 607, EX - 556, TU - 534
05-06-2009 09:33 AM
Probably best, IMO, would be a secured card with a prime bank or a good credit union. These do require a savings account for collateral, but you own the savings and collect interest. And you really should be saving anyway, so this lets your savings help in two ways: the savings aspect, plus building credit.
These cards usually have no fees, unless you go with a subprime secured card.
05-06-2009 01:22 PM
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.