Rebuilding- need card suggestions (secured & unsecured)

[ccher3]

09lexie, I have not written any GW letters. Forgive me if I don't quite understand what they do and how exactly they work. Will it help to write a GW letter if I've mostly paid off my cc debt?

In other news, BofA withdrew the funds from my account.....good sign right?

[InvincibleSummer3]

That is a good sign! Congratulations!

[HiLine]

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@ccher3 wrote:
09lexie, I have not written any GW letters. Forgive me if I don't quite understand what they do and how exactly they work. Will it help to write a GW letter if I've mostly paid off my cc debt?

In other news, BofA withdrew the funds from my account.....good sign right?

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Time to party !!!!!

BTW, goodwill letters can only help. Spend some time reading older posts on this topic - the payoff is huge!

[09Lexie]

Good luck!

[ccher3]

Thanks everyone! Haven't heard anything from them other than them taking the funds. Anyone know how they get in touch? Or when the card will arrive?

[mistasteve]

I just paid off all bad CC debt recently but my credit score did not go up at all. It's only been a couple of weeks so I'm not sure how long it takes. I currently have no outstanding debt but I also don't have anything helping my score so I  got a secured Cap One CC with a $500 limit. I noticed my score on all 3 CR dropped about 4 points. Now my score is in the low 600's. 

Should I get another secured card or should I just wait to see what my score does in the next few months? What else could I do to raise my scores?

[InvincibleSummer3]

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@mistasteve wrote:

I just paid off all bad CC debt recently but my credit score did not go up at all. It's only been a couple of weeks so I'm not sure how long it takes. I currently have no outstanding debt but I also don't have anything helping my score so I  got a secured Cap One CC with a $500 limit. I noticed my score on all 3 CR dropped about 4 points. Now my score is in the low 600's. 

Should I get another secured card or should I just wait to see what my score does in the next few months? What else could I do to raise my scores?

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Your score may have dropped due to the new card changing your AAoA. I suspect that given that you have no more outstanding debt you could see a fairly quick rebound. The best cure will be payment on time every time  - as the new card gets older, you'll develop some good credit history and that will boost your scores over time.

[ccher3]

Just checked my BofA secured card status online and recieved this :

We regret we're unable to approve your request at this time. Your business is appreciated and careful consideration was given to your request. Please allow 7-10 days to receive a letter by mail explaining the reasons for our decision. As a result of our decision, any balance transfer requests included with your credit application will not be processed. 

Checked my account and found the security deposit returned to my account.

Now what? It's so discouraging...