What do I do next?

[CostantinoA]

Hello everyone:

I am on my way to rebuilding a better credit history.  In  my signature is my updated information as of today.  I am trying to decide to keep some of these crappy limit cards or cancel them.  I am to the point now that I am letting them grow.  I only have 1 card that is over a year BUT alot of them are hitting the year mark soon.  I am hoping the low limit cards isn't hurting me from getting higher limit cards.  What does everyone think?  What should I do next?  I need to get my store to above 680 by October 2016.  I will have all the balances paid off by next month.

Account Holder

$100 Bloomingsdales Opened 07-2105

$200 Citi Opened Opened 11-2015

$200 Macy's Opened 07-2015

$250 Fingerhut Opened 10-2015

$300 U.S. Bank Opened 06-2015

$300 Wells Fargo Opened 09-2015

$350 First National Opened 04-2016

$400 Walmart Opened 06-2015

$450 Victoria Secret Opened 06-2015

$500 Open Sky Opened 03-2015

$500 Mid America Bank Opened 06-2015

$600 Amazon Opened 06-2015

$600 First Savings Opened 06-2015

$1,000 First Premier Opened 10-2015

$1,100 Merrick Opened 07-2015

$1,500 Discover Opened 06-2015

Authorized User

$1,500 Capital One Quick Silver Opened 11-2015

$1,500 Barclay Opened Opened 11-2015

$800 Target Opened 11-2015

$800 Capital One Platinum Opened 05-2015

$600 Merrick Opened Opened 04-2016

$500 Discover Opened Opened 07-2015

$350 First National Opened 04-2016

$300 Credit One Opened 11-2015

[XxRaVeNxX1]

You've been rebuilding since 2014 and 4k in debt on those meager credit card limits? 

You better be careful those cards could see that you are liiving beyond your means and cut your limits in half and your utilization will be runined...

[RonM21]

Wow. Okay, I'm not sure.closing any of those accounts is the best idea. What I'd say is pay your balances off each month and only let one card report a balance each month, somewhere between 1 & 9%. Also, the cards you are an authorized user on probably need to be kept in check just in case. If possible, I'd make sure those cards are being handled the same. If you are coming up on a year, some of these cards may give you increases, which betters your situation. If you do all of this, your score should make a lot of progress. See what others sah, but that is my take on it. Best of luck!

[CostantinoA]

Most of these charges are for work.  They are paid off in fuill weekly.  It is just when the card statement posts, there are more charges from a few days before.

[CostantinoA]

Thank you!!!!  Tha is what I am hoping.  I fully manage the authoried user cards as well.  It is my wife's cards.  So you don't think that rellly low limit ones are hurting my score and/or chances to get higer limit cards?

[Anonymous]

Be careful with trying to get anymore store cards. From what I've seen here, they will hurt you more than help you in the long run. You will be stuck in toy limit hell.

If it were me, I would go into the garden for a while and not app for anymore cards. You already have a lot of new cards within just a couple of months. Don't let any balances report on any of the cards except for one card, and for that one card don't let it report over 9%. Your scores should climb if you stick to that plan.

Also, if you don't have any type of installment loan you should consider getting one. Such as a secured loan through a credit union.

[CostantinoA]

I had two installment loans that I just paid off 2 weeks ago.  I do have two auto loans as well.  I opened them both 08-2015.  I have never been late on those.  Also, with my student loan is deferred but I still make payments bi-weekly on it.!

[CostantinoA]

So let the cards age or close the low limit ones or what?

[CostantinoA]

On Friday, I am going to pay off all my cards.  How much do you think my score will go up seeing my information in the signature which is current as of right now.

[MrsCHX]

OP I think right now you shouldn't be worried about higher limit cards. I mean, I'm no expert at all of this yet and hopefully someone else will chime in.

But you can't apply for anythign else right now. What are all the negatives for??  

It's been 8 years since your BK, so you have just under 2 more year of that reporting and you have all those inquiries. I think you need to garden and grow your current cards.  If you garden until 2018, your BK will be gone, those INQ will be gone, and maybe you can GW some of those negatives if they're late payments.

I know that seems like a long time but if you are hoping to increase your scores, it'll be worth it.