06-20-2012 05:49 PM
I am banning my self, from apping for anything until July 2014.. My BK Discharges on the 26th this month... I have a 300 dollar orchard card.. and I was approved for a 49 dollar deposit secured capital 1 card.. I had to send in address/ssn verification due to fraud alerts.. I am not going to app for 24 months so ALL inquires will be long gone and I will have build 24 months of positive tradelines..
Do you think these two cards will be good enough for 2 years of building? I am going to PIF orchard card 5-20 dollars a month and keep the secured card at 0 but I am gonna increase the limit about 50/month.
Anyone have any input? When my check systems gets clear, I am going to join san diego credit union and just save money.. I wont app for a secured loan/card with them unless they soft pull.. I have probably 20 inquires on ex/eq and 7 on tu.. Yeah way overboard.. before I became credit smart.. All I am gonna do in the 2 year time frame is build a relationship with a credit union, increase my secured cap one limit and pif orchard card. I am gonna also make sure everything is accurately reporting on my reports and also try to use the hippa method for medical collections that are IIB on ex.
06-20-2012 06:33 PM
Bumpety Bump before it disapears.
06-20-2012 08:13 PM - edited 06-20-2012 08:16 PM
You WANT a balance to report on the cards, but a small balance <10%. If you leave it with a 0 balance, there is no payment history. You won't be showing you can manage credit...
Other than that, I can't say much... I have one secured card, capital one, and my mid score is now a 673.... High score is 684. It is my only trade line and I haven't had a derog since 2007, also have 9 inquires... 5 for mortgage, 1 for capital one, and 3 others from last summer when I was trying to get some trade lines open. Been open since Sept of last year and I increased my limit to $350.
06-20-2012 09:07 PM
Wow, well after my BK discharges and I get all the IIB accounts to report correctly and get the rest of my med collections deleted off ex I should be good.. I need to pay down my cc right now.. But I was in dire need to use the card for work clothes :/..
I think I am gonna marinate and buy my TU and EQ scores in sept or early october.. Well see the outcome then!
06-20-2012 10:04 PM
I cannot wait until the Journey of Credit repair is over and I am just gardening!
06-21-2012 01:00 PM
I'm scheduled to close on a house at the end of June, and I have 3 old medical collections ($2400, $285, and $389) that are set to fall off my reports within a year. After that, I'll be gardening and knowing I'm almost there feels really good! And honestly, the only thing that helped to raise my score was the secured card. I was paying everything on time but had nothing reporting as far as trade lines... I wish I hadn't waited as long as I did to get one.
06-21-2012 01:10 PM