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What next?

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Anonymous
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What next?

I started rebuilding November 2015. When I started I had a car loan I had been consistently 30 days late on. I missed one payment awhile back and never caught up. 3 collections. 2 for 300 each and one for 150. And nothing else bc my credit was so bad I just used cash for a long time. My scores were all around 450. My length of history is long bc I was an authorized user on a card years ago thats still on there. I also had a few charged off accounts fall off about 2 years ago. 

I have since made my car loan current and opened up a capital one secured card with a 300 limit and charged $75 on it that reported. My scores are now eq 550, tu 562 and eq 537. 

Things that haven't reported are me paying the cap one card off, paying one of the collections and they agreed to delete which hasn't shown up yet and the $150 collection I paid and they agreed to update that also.

I want to get another cc or 2 but credit one pre qualification gets me nothing and capone only pulls up the secured card. The shopping cart trick isn't working for me either. I also tried fingerhut and it said i was preapproved and then when I actually applied I was denied and got a hp.

Is it better to wait now a few months and see if I can get capital one quicksilver or something. What scores do they usually require for that? Will it hurt me that one of the collections is midland that used to be an old capone secured card?

Or should I try another secured card? I don't want to be denied and have a hard inquiry for a secured card.

What scores do people normally have to get the shopping cart trick to work?

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1 REPLY 1
Anonymous
Not applicable

Re: What next?

Forget credit one. Just go apply cold for the platinum. Once approve apply for the QS1 right after. They should approve you for SL of 300 for each card. Another one is fingerhut to help with UTI but it's not really useful. When I started rebuilding I got it and never even use it once. So just go apply for the capital one platinum and QUICKSILVER ONE. The quicksilver one not the quicksilver. Also don't worry about charging on card. You can max it out and pay it few times a month. Don't do that with the secured cause no matter how many time you pay it off in a month you still won't get an increase till 6-7th statement cut. Did that with my QS1 and platinum. Started with 500 CL each. After 1st statement cut, now I'm at 3000 for QS1 and 2000 for platinum and it's only been 2 almost 3 months. My platinum was just upgraded to QS. It's annoying though. If you paid more then twice in a billing cycle they will hold funds against available credit. So you will need to call in and they transfer you to fraud department and fraud department will call your bank to verify bank account is yours and funds been clear (if you want credit to post to your account faster) or you can wait the extra 3 days for hold to be off

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