I want to apply for a card, tell me if it is a good time or if I should wait.

[danny4l]

I would like to apply for an unsecured card.  I am slowly rebuilding my credit.  Here is what I have on my file. Can you please tell me if it is a good time to apply or if I should wait longer.

FACO Score: 681

90 late Chase from March 2010

BOA 30 day late June 2010

Sallie Mae 180 and 90 day lates from September 2010 (7 accounts)

No collections

Capital One secured card since November 2011 - No lates, zero balance

Debt ratio at 37%

DMP till June 2015 - The counseling service said I could apply for credit and it would not affect the program.

I just want to have one unsecured card reporting. I don't care what card it is.  Do you think now is a good time? Last year I was turned down for a BOA secured card due to collection accounts on file.  They said the other lates were old and were not a factor in the decision.  I no longer have the collection accounts on file.

[guiness56]

I would really suggest getting your FICO scores before applying anywhere.  There can be a significant difference.

[Bleu]

Get the fico. Was a 44 point difference in mine.

[danny4l]

I will get the FICO scores.

But with the negativity that I have, do you think there is a chance of approval or the odds are against me?

The last 180 day late comes off in late 2017.

[DaBears]

The 90 and 180 day late is going to affect your score for 7 yrs until they are removed. Have you tried sending GW letters? It will raise an eyebrow to the underwriter seeing those major derogatories!!! 

[guiness56]

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@danny4l wrote:

I will get the FICO scores.

But with the negativity that I have, do you think there is a chance of approval or the odds are against me?

The last 180 day late comes off in late 2017.

---

You could apply to 10 different places and all of them will either deny or approve based on their criteria.

It is hard to say what one will do versus another.  Some are more lenient, some stricter.

[newmomnewme]

I don't know what myFico scores were when I applied for Cap1 12/2012.....but, my Equifax FAKO was under 600 and I was approved for an unsecured card ($500 credit steps program CLI to $750 at 6 months). It isn't much, but it was an approval. 

Go to a few credit card sites and see if you pre-qualify for anything. Good luck!

[myjourney]

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@guiness56 wrote:

---

@danny4l wrote:

I will get the FICO scores.

But with the negativity that I have, do you think there is a chance of approval or the odds are against me?

The last 180 day late comes off in late 2017.

---

You could apply to 10 different places and all of them will either deny or approve based on their criteria.

It is hard to say what one will do versus another.  Some are more lenient, some stricter.

---

+1 without true Fico scores its almost impossible to say what cards you stand a chance of approval with. 

As guiness stated lenders have different criteria example 

Chase and Amex pull scores but also have an internal scoring system factored into the approval process as well 

[danny4l]

I want to know if considering the information I provided, do you think I can apply for the Discover it card?

I was reading that there are a lot of people with "fair/good" credit who are getting approved.

Just purchased my Experian score from MyFico

Experian FICO: 691

Equifax FICO: 668

Please tell me if you think now is the time to apply for one card.

Thanks

[starry1]

With those scores you have a good chance at the It.