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Is our credit totally doomed? No cc but medical bills sitting

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Anonymous
Not applicable

Re: Is our credit totally doomed? No cc but medical bills sitting


@Anonymous wrote:

1) Whew!

2) Exactly *how* does one do that with super-duper-limited options for opening cards?

How does proactive monitering help? Smiley Happy

What's the most prudent way to use a card we eventually open (we're not big spenders) and do we each open the same exact card or 2 different ones to 'diversify' somehow (remember- we're totally new at this)?


Captial One Prequalified Card

 

CreditKarma:  Free Equifax and TransUnion Monitoring.  Uses Vantage 3.0 Scores. Use the site solely for monitoring your reports. AND ONLY THAT.

CreditCheckTotal:  Sign up for $1 for 7days. After 7 days, call to cancel, try for discount.  They offer Experian FICO 08 daily, Equifax and TransUnion Fico 08 once a month.

myFico 3B:  Fico 08, Auto, Mortgage scores.  Updates when changes occur. Gives full scores (and there's alot) once every 3 months. 

 

Choices for you and other half:

Secured Card:  No rewards. Build's credit. Amount "secured" is your credit limit. myFICO Secured Card List

Quicksilver One:  1.5% CashBack on every purchase. $39 a year (annual fee).

Platinum:  No rewards. No annual fee. 

 

Only allow up to 1-9% of your entire credit limit be reported in a statement.  Feel free to USE up to the credit limit, but PAY FREQUENTLY to have that 1-9% report. Capital One allows micropayments - paying weekly.

 

See Norman for Capital One guidance.  He's done a lot of business with them. 

Message 11 of 14
Anonymous
Not applicable

Re: Is our credit totally doomed? No cc but medical bills sitting

Thank you everyone! I'm in the middle of looking into everything.

I had a question about a USAA secured card- are they 'recommended' and if so, would their Amex or Visa be better?

Message 12 of 14
gdale6
Moderator Emeritus

Re: Is our credit totally doomed? No cc but medical bills sitting


@Anonymous wrote:

Thank you everyone! I'm in the middle of looking into everything.

I had a question about a USAA secured card- are they 'recommended' and if so, would their Amex or Visa be better?


Visa is the most widely accepted card on Earth that is what I would choose.

Message 13 of 14
Anonymous
Not applicable

Re: Is our credit totally doomed? No cc but medical bills sitting


@Anonymous wrote:

1) Whew!

2) Exactly *how* does one do that with super-duper-limited options for opening cards?

How does proactive monitering help? Smiley Happy

What's the most prudent way to use a card we eventually open (we're not big spenders) and do we each open the same exact card or 2 different ones to 'diversify' somehow (remember- we're totally new at this)?


The key is to put all of your "ordinary" monthly spending through your credit cards. Anything you would normally pay cash for (or use your debit card) you pay with the credit card, then you use your cash to pay the card off. Since I started doing this in Decebber 2014, I don't think I have used my debit card more than a handful of times. I even pay my rent with my Barclays Reward MC. This has helped get my Capital One limits from $300/$500 to $5800/$1500, and in the process I have earned about $400 in cash back rewards (QS/QS1 cards give 1.5% cash back on all charges).

You said your score was 598 - where did you get your score from?

Message 14 of 14
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