Devastating credit news, not sure how to proceed

[StartingOver10]

Remember, rebuilding is two parts: fixing the baddies (repair) and obtaining new revolving credit to show positive payment history. 

Your scores are where they are because you only had one cc (from your post) and then it went to a 90-day late status and was closed. You don't have any other open revolving accounts to fall back on at the moment. Once the card is paid to zero, you can get other accounts. Cap One may even give you a chance now - check their site for a pre-approved type card.  If you don't see one, wait until you have paid off TD Bank. You might try the secured card with TD because if that works then you can 'show' that you truly overcame the 90 day late with them IMO. 

[Anonymous]

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@Anonymous wrote:

Ok, thank you so much for the response. To reiterate, I should (and will) payoff the remaing $630 balance I have on the account. At that point I will have NO credit cards.I did get a boost last week and now have the following scores 575 Eq, 589 Trans, 587 Ex. Not sure what else to do besides keeping up with GW letters. The account being "closed" hasn't seemed to showup yet. I gather a secured credit card through my Bank (TD) would be good and show my loyalty as that is also who i have had my checking account with since they bought Commerce.

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Do you have any installment loans at all? (Student loans, auto loan) - Open an account with SDFCU, and put $500 in savings, then if you don't have an installment loan, apply for a secured personal loan with them. Take the proceeds of the loan and drop them back into savings and open a secured credit card with it. If you already have an installment loan, then skip the secured personal loan part and just open a secured credit card with that $500.

Do this in addition to the secured card from TD

[Anonymous]

Thank you for all the help! Still plugging away. Will update progress shortly.