Credit Help... Lost 12 points...

[athan12]

Applied for a BofA CC and got denied caused my score to drop 12 points...

Any suggestions on how to build up my credit again? I feel like everytime I try to rebuild my credit and apply for a new credit card, my score always ends up going down..

[starry1]

It was the inquiry that caused your score to drop, not the denial.  What is bad on your report that is holding you down and what credit accounts do you have now?

[athan12]

I have a Newegg Preffered Credit (2k limit), BofA Student CC(900 limit).

My BofA Student CC was closed by the guarantor but is still showing on my CR. I have a few lates on 2011 and planning to GW it later on. Should I close my BofA student CC or not? just for the CL.

I know I need to add more into my credit history mix. I'm thinking about applying for a personal loan to buy furnitures but is it harder to get a personal than a CC? I'm at 607 right now

[guiness56]

An inquiry should not cause a 12 point drop.

[starry1]

Yes, getting a personal loan is much harder than getting a cc.  Your Bofa is already closed, so there's nothing to be done about that except maybe goodwilling the lates.  Is it paid off?

You need to try to get a secured card or maybe a Capital One.  Your scores aren't so horrible that you couldn't get a subprime visa or MC.

[signguy17]

I feel like everytime I try to rebuild my credit and apply for a new credit card....

Maybe that's the problem....how many cards have you applied for recently.  The FICO Gods frown on that as a desperate need for credit and a drop in your score could happen...

[athan12]

my BofA is student cc is closed by guarantor but it is still showing on my CR. Do I still benefit from its CL? Yes my BofA CC is paid off. I'm planning to GW it once I started showing them my good payment history once I get my secured CC from them.

How many CC is advisable? So I have a Newegg Preferred CC(2k limit) and a CC that has been closed(900 limit). I'm thinking of getting two more secured CC to maximize my credit score.

[starry1]

Its going to show on your report for 10 years after it is closed.  

[athan12]

My credit utilization is at 27% right(assuming that I get the benefit from 900 closed CC limit).

I once tried to reopen my BofA student CC by calling them and got approved but it doesn't show on my CR that they pulled my history. THey only pulled my CR once I tried applying for a CC. SO basically I only added 1 inq on my history.

So I can't do anymore aplpication/inquiry anymore because that's just gonna drop my score?

[athan12]

So there's nothing I can do about it other than benefiting from the CL?