Capital One Journey Student Credit Card

[Anonymous]

I have what i would consider to be bad credit. But not actually bad credit in the technical sense.

I want to bring my credit score above 700 so i am working on raising my score, which is currently 659. I currently have no credit cards.

I recently applied for a capital one journey student credit card and was approved for $3,000 credit limit. (i am not a student). I have not acticated the line yet as i am waiting for the card. My first question is can i get into the credit steps program with this card? Second question is if anyone knows the maximum this credit card line will go up to? Third, will my score go up once i get this card? I have not had an open credit card at all for almost 5 years.

next questions is should i apply for a second capital one card? Can this help raise my credit score any more?

would getting any store credit cards help me?

Any other cards you would recomend?

besides e late payments on each of my private student loans i have a chase bank charge off for $5400. Chase has offered to settle for $2700 but i am not sure that settling will help me right now. It is set to fall off in 3 years.

Other accounts include

15k in private student loans

130k in federal student loans

11k toyota finacial auto credit

[Anonymous]

Bump.. Any advice?

[Anonymous]

If you have the money to settle the charge off I'd say do it, it's better to have it off your mind. If you can't afford $2700 right now let it age off.

As far as other cards, if you're looking at store cards make sure you pick ones you'll actually use with a good rewards program. I got Victoria's secret because I love their products and lingerie, I'm also a mad pink addict lol

You can try SCT to get a store card without a HP but I'd be careful not to open too many at once. Comenity has been known to approve someone and then close ALL their accounts by manual review before the cards even get to you because they deem you high risk. 

Do you have any other derogs? Or any inquiries besides the one for Cap 1?

[Anonymous]

No other derogs that i know of. I had a synchrony bank acct for $1,200 that was sold to a credit collections group called einstein associates. They ended up suing me for the debt in october 2016 I filed an answer to the debt after being served. We came to an agreement to aettle the debt and close the lawsuit for a payment of $100. The collections account is gone from my report. Synchrony is reporiting $0 due. I disputed the account as paid and it stayed on my report but my score raised from 627 to 662 but dinged down to 659 after i applied for capital one card. Only other inquiry auto financing from when i bought my toyota prius in novmeber 2016.

[Anonymous]

Sorry i dont beleive the debt was sold to einstein, i believe they were only hired to collect on the debt. The debt was sold from synchrony to second round.

[Anonymous]

Your score will definitely recover from the inquiry, IIRC after a year it won't affect your score and after 2 years it drops off completely. 

You mentioned that you're disputing the Synchrony account as paid but unless it's still showing that you owe a balance disputing it won't change anything. Even though the account is paid it will still stay on your CR for 7 years. I think one thing that's bringing your score down is the chargeoff, you can either pay it or if you're willing to wait 3 years your score should improve once it falls off. Do you have any late payments? 

If you do I would advise trying to do a Goodwill letter campaign to have them removed.

[Anonymous]

Thank you for all your help! Synchrony is showing 0 balance 0 utilization but i was just hoping to have it off my credit report after settling with the colllections agency. I have 4 more years until it falls off. I do have 9 late payments reporting on my navient private student loans. 3 for each of my 3 private loans. I will work to try to get these removed thru good will letters. Otherwise i have no other late payments. I want to rebuild to 700 so bad!! Thanks again

[Anonymous]

You're welcome, try going to the Student Loan section of the forum. I've seen a few people have success with getting Navient lates removed. Good luck, you'll get there.

[Anonymous]

Sweet SL btw

[Anonymous]

Private graduate school