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!