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Which cards while rebuilding

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nativenyer
Frequent Contributor

Which cards while rebuilding

Hello everyone. Was wondering if I could advice on what card I can apply for. I've raised my credit score 100 points in 11 months. I'm now at 563. I'll be paying two cards down next week to 1-9% utilization so I expect to break 600 in December. Right now I have the following cards:
Credit One $300 5/2013
Capital One $200. 9/2012
First Premier $300 7/2013

Can anyone recommend a card with a EQ Fico of 600. Thanks!
Message 1 of 6
5 REPLIES 5
coldnmn
Mega Contributor

Re: Which cards while rebuilding

At one year your inquiries for the cards you have will not effect your Fico score. That and lowering your utilization <9% will have a positive effect for getting a card. If I were you I would wait until then to apply for anything. IMHO

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 2 of 6
myjourney
Super Contributor

Re: Which cards while rebuilding

IMO you have done well and I know its hard to wait but that being said wait until scores hit mid 600's 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 6
Jasir
Frequent Contributor

Re: Which cards while rebuilding

I can't think of many (non-shark)  lenders that would be 600 friendly. Perhaps Barclaycard and BankofAmerica (the BOA is likely to deny for unsecured but may counter with the 99/500 secured card, which is very good rebuilder card because it becomes eligible to unsecure). But neither of those pull EQ (or only EQ).

 

It may serve you better to not add any new cards at all--just keep working on establishing your AAOA, UTL and raise that FICO to 640 before you app.



Amex BCE: $2600 - Bank of America Cash Rewards: $4800 - Barclaycard Rewards: Jefferson Collections - Capital One Quicksilver: CO - Chase Freedom: C0 - Merrick Bank: $1400 -
Message 4 of 6
enharu
Super Contributor

Re: Which cards while rebuilding

If you are okay with secured cards, get the BofA secured card when your scores are at 600. The downside is that it's a secured card so you will have to come up with the deposit, but what's nice is that BofA usually graduate customers pretty easily after 6-12 months.

 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 5 of 6
Creditaddict
Legendary Contributor

Re: Which cards while rebuilding

I would email capital one exec office for cli on your card... Wait till the 620+ range and then look to GE for a couple cards.
Message 6 of 6
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