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Rebuilding

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Anonymous
Not applicable

Rebuilding

I have been working on my credit since February and I am finally in a place where I have began to apply for credit cards to show I can handle credit. I have one secured card for $250, Capital One $300, Von Maur $300, and a $500 bank installment loan. As you can see not much as of yet however I applied for credit at Ashley furniture back in August and was denied and Discover as well aand was denied last month. I have so many inquires I don't know if I should keep applying for credit cards or not? And if so how many more and which ones?
Message 1 of 4
3 REPLIES 3
john111
Established Member

Re: Rebuilding

Building your credit score can take several years. My initial suspicion points towards the four new credit lines pulling down your average age of debt. Make liberal use of creditboard's credit pulls database to see if you have a reasonable chance at getting your application accepted. Also, if you weren't initially accepted by their auto acceptance computer program, call the number and ask a real person if they can accept you. You'll need to prepare reasons why you should get accepted, or certain bad debts should be overlooked or whatnot.

 

Basically do more due diligence on which cards you should apply to (if any) given your fico score, utilization rates, avg age of debt, etc. Additionally, every 6 months or so, you can call your existing credit cards to ask for a credit limit increase.

 

https://creditboards.com/forums/index.php?app=creditpulls

Message 2 of 4
Anonymous
Not applicable

Re: Rebuilding

All you need is 3 revolving credit lines.

Message 3 of 4
Anonymous
Not applicable

Re: Rebuilding


@Anonymous wrote:
I have been working on my credit since February and I am finally in a place where I have began to apply for credit cards to show I can handle credit. I have one secured card for $250, Capital One $300, Von Maur $300, and a $500 bank installment loan. As you can see not much as of yet however I applied for credit at Ashley furniture back in August and was denied and Discover as well aand was denied last month. I have so many inquires I don't know if I should keep applying for credit cards or not? And if so how many more and which ones?

App for a second Cap One card. Then garden and grow those accounts for the next year.

Message 4 of 4
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