10-11-2012 03:28 PM - edited 10-11-2012 03:31 PM
Just started rebuilding. On my Equifax, I have no negative trades (got the last baddie removed). I have a very old jewelry acct reported as paid as agreed (8 years old). I have a US Bank Secured with a 300 limit, paid as agreed (30 days old). Just this morning, the Discover card that my friend put me as an authorized user on just reported (opened 10/1/2012, 2000 limit). My Equifax Fico according to USAA is 741 and according to MyFico directly it's 701. I have no idea why it's reporting high scores considering everything I have is new, but my scores are something I've never had before and it's making me excited.
Being that all my trade lines are way too new, what's a good amount of time to pass before I can apply for credit through an Equifax pull and pretty much get approved? I'm pretty sure the scores will carry me through, but I know my history won't. Six months or a year? I don't want to be too impatient and ruin a hard pull for them to deny me. What would you do?
10-11-2012 03:33 PM
6 months of positive TLs is considered a good starting point. Your AAoA is what's hurting you right now. Let that age just a bit and you should have pretty good odds at getting decent cards. I would recommend that you get a GECRB card such as Walmart or so. They tend to grow and give good CLs that will help you get higher CLs with other cards. Oh, and if you want, I think you're more than good to go for one of those right now. Good Luck!
Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.