Rebuilding Your Credit

[newbee2012]

I had too many negatives on my reports for years-- finally I am clean as of last year!!! They have been removed from my report. 

Currently in wallaet: Bank of America Secured: $500 (9/12)

Nordstrom Store Card: $1000 (1/13)

Barclay NFL Visa: 500 (1/13)

Citi Hilton Reseve Siganature: $5000 (authoruized user) - 2005

Student Loans (deferred until 2014): 65K

Should I apply for another card?

I pay my blances in full before the statetment clsosing date.  My credit reports show zero revolving debt.

Current scores: FAKO Equifax:645, Experian 706, TransU: 733

My scores have not been going up. What would you recommend?  Should I show some limit on my cards by partially paying them?

Also what are my changes of getting Amex Green?  I have 11 inquires on Ex and TU, 5 on Eq.  I was denided for Blue recently.

Thank you!!!!

[Kevin5974]

Barclays will cancel you if they see additional accounts open. I would let those inquiries age and garden about 6-9 months. Hopefully some credit line increases and then maybe hit up Amex

[madmann26]

Maximum score gains are seen when you let one card report with no more then 9% of your total available revolving credit. What does the util look like on the AU BoFA card?

[newbee2012]

All my cards show zero balance. I pay them off every month.

So should I just show lik $20 balance on one card only?  Thanks.

I asked Nordstrom about a CLI - they said that I can ask every 6 months and soft pully only.  I've placed secuirty freeze on my reports.  Would that prevent Nordstrom doing a soft pull?  

[newbee2012]

Really? So If I every get another credit card like AMEX will they cancel my Barclay card?

[madmann26]

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newbee2012 wrote:

Really? So If I every get another credit card like AMEX will they cancel my Barclay card?

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Not necessarily. Barclay is very sensitive to people seeking new credit. I've read reports of people's Barclay card getting closed because they went on an app spree.

[MovingForward_2012]

I would garden the 3 cards you have for at least 6 months to a year before applying for new credit. Some credit card lenders are very sensitive to INQS and will deny you based solely on that as they predict you are risky. I think the 11 INQS you have are the most should carry.

Does the card you are an AU on report a zero balance too?

[newbee2012]

Thanks for the info.  I reapply appriciate it.  The AU card has a 5000 credit limit but it has a balance of 4500.  It will be paid off by end of February.  Does that affect my score?  When that's paid off will my score increase?  Thanks.

[madmann26]

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newbee2012 wrote:

Thanks for the info.  I reapply appriciate it.  The AU card has a 5000 credit limit but it has a balance of 4500.  It will be paid off by end of February.  Does that affect my score?  When that's paid off will my score increase?  Thanks.

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This is most definitely affecting your score as it is 90% utilized. Either the AU needs to pay it down significantly or you need to remove yourself as an AU. Protect your credit, no one else will.

[newbee2012]

I didn't know that.  It will be paid off soon.  That card always carries 0 balance.  When it's paid off, will that increase my score?  I didn't know the main account holder's limit could affect my score.  I just hold that card for emergencies since it has a good limit.  The account holder has 3 other cards with available limit over 40K.  Should he add me to his Amex with a 5K limit?  I didn't want another card that's not really mine but would that increase my score?