Need credit card advice!!!!

[Anonymous]

Im in the process of rebuilding my credit, hopefully to 750 thats my goal. I started rebuilding my credit just a couple months ago August to be exact. I have a BKCH7 from 2012 some late payments on my car and a few late payments on my merrick card. The most recent missed payments was 3 months ago, I was late on my carnot due to being off work for a year . I'm currently caught all up on everything, I have a Merrick card $550 and I am a authorized user on a Well Fargo 10.5K combined I am at  25%util. My current Fico8 scores are Ex.668 Eq.615 TU.660. I just applied for a Chase Freedom cared and was denied. I have raised my scores from high300's to high 600's in 2 months. I just dont know how to get to the next level if I'm gonna keep getting denied. I dont want to keep losing points with denials. I aslo dont want another low limit card. Any advice on what card might approve me for at least 2-5K with my credit history.

[marty56]

I would join a local CU and talk with a rep there and see if they would approve you.  They may say no or not say anything but it won't cost you an INQ.

[Anonymous]

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@Anonymous wrote:

Im in the process of rebuilding my credit, hopefully to 750 thats my goal. I started rebuilding my credit just a couple months ago August to be exact. I have a BKCH7 from 2012 some late payments on my car and a few late payments on my merrick card. The most recent missed payments was 3 months ago, I was late on my carnot due to being off work for a year . I'm currently caught all up on everything, I have a Merrick card $550 and I am a authorized user on a Well Fargo 10.5K combined I am at  25%util. My current Fico8 scores are Ex.668 Eq.615 TU.660. I just applied for a Chase Freedom cared and was denied. I have raised my scores from high300's to high 600's in 2 months. I just dont know how to get to the next level if I'm gonna keep getting denied. I dont want to keep losing points with denials. I aslo dont want another low limit card. Any advice on what card might approve me for at least 2-5K with my credit history.

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Capital One.

TBH, I would recommend getting yourself more financially stable before adding new credit. $1000 emergency cash fund, 6 months of current living expenses in savings and liquid investments that will cover 2 years of living expenses at 80% of current expenses. Having that kind of cushion will get you through rough spots without getting behind on anything.

[Anonymous]

I'm fine with living expenses, I'm looking to fix my credit but thanks ☺️

[Anonymous]

I was thinking that too, my job has a good credit union. I'm not sure if I should just wait until I hit the 700 mark before I apply for anything again, I'm only 30-40 points away 😩

[AverageJoesCredit]

Looks like you have done well from where you were. Definetely try avoiding the lates i know that can be difficult sometimes as life happens. Keep paying on what you have and as time passes your score will go up. Even though i dont recommend apping right now so you can establish a bit more time, your Ex is at a level that may get a lower sl from Amex while you may be able to get a Walmart card from Synch. Cards from Amex have great potential to grow after a few months and Synchrony cards do as well, mainly through sp increases as your TU rises. I wish you all the best as you move forward,

[Anonymous]

Two months of rebuilding isn't enough, unfortunately.  2 years is much more common.  Give it time.  Focus on building your savings so if "life happens" you can always make minimum payments and cover your living cost for no less than 6 months.

Over time, your scores will go up and you'll start getting preapprovals.  Chase gives prequalified offers to people who bank with them or who use their Credit Journey free credit monitoring (it gives a useless credit score but can show you offers for cards they're more likely to approve you for).

Stop cold apping for new cards -- wait out until you start getting good offers from good banks.

[Anonymous]

Thank you