10-19-2012 12:59 PM
I have been perusing this website for quite sometime and happy to finally post a little info about myself. I am in the process of rebuilding my credit after a bankruptcy (discharged dec 30, 2012). After I stubled on this website back then, I decided to start rebuilding as suggested with a secured credit card. I applied for a Cap One Secured card and was approved, which I was stunned because I had included then in my BNK. So farer having the secured card for a few months they offered me an unsecured card with a 500 cl. I was very happy about that and just worked with those cards. I believe my credit score was around 570 ( thats a guess because I remember trying to pen an account with PenFed and they would only open a savings account because of my credit score...it maight have been a little higher arounf 580) and they said that they would eventually allow me to open a checking account if my situation improved. I just closed the account. I already bank with USAA and NFCU, so there was no need. I just wanted an account I could use as a savings account which NFCU will do just fine. Anywho I have recently been arrpoved for a Barclays NFL Rewards card last week with a CL of $500 and a Walmart Card with a CL of $400...neither have the high credit limits I want, but figured I would have to start somewhere and the new cards decreased my utilizationto 44%! I know it isnt the ideal 30%, but I am working on that.
I think I will sit tight with what I have now and will open another secured card with USAA in 6 months....I dont want to keep the secured Cap One...what do you guys think about that?
BUt what was really exciting was getting my actual FICO score which is now a 625...yay! I will be ordering my EQ Fico score soon, but I am happy with the progress I have made in a little under a year. I applied for a JC Penney card and Old Navy but they both declined me! :-( Baby steps, Baby steps...soon enough I tell myself.
Another quick question: Does anyone have an idea of how long I should sit where I am at before applying for a new card? I have the BNK on my CBR now and will for 10 years, but I want to be able to get a card with a decent limit. How generous with CLI is Barclays and how long should I wait to apply? I plan on applying for an increase with Walmart in 5 months.
Any and all information is greatly appreciated!
Starting score: 580 (around there)
Current Score WalMart TUFICO 625
10-19-2012 02:48 PM
Hi. Congrats on your progress!
Thanks for posting about Cap One. I just got their secured card too. I've heard mixed things about whether they do increases or switch you to unsecured, so I'm happy to know it's a possibility and maybe that will happen to me down the road as well.
I can't answer your questions, but I saw you belong to NFCU. I've read such good things about them on this Board; they seem lenient and generous with their credit cards. Maybe you could try them when you decide to apply for another card.... Just a thought.
Starting Score 08/12: EQ 526 | EX 552 | TU 569
Current Score: EQ 613 | EX 574 | TU 632
Goal Score: 700 Club
10-20-2012 05:21 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.