@Anonymous wrote:
I have to make my next move my best one and who better to ask than you folks!
I ignored my credit in my 20s and started the rebuild in october. I started with like 509 and some junk on me reports and after a few disputes here is where i am.
I have the good ole cap one unsecured card with a $300 limit and i can't get an increase but i know they print my bill 3 days after due date and that's what reports so i keep it at around $10 when it reports. on this i'm just waiting for time and they will auto increase it.
I have a credit one bank at $300 limit and it first reported high as i thought it would take two cycles to report as i read and as my cap one did. I paid it in full after some advice i got from other members here and in the sock drawer it goes (thanks guys)
I applied for an amazon store card and got $700 and have not even used it as the limit is pretty low.
I went and got on CCT and it's showing utilization at 28% because my cap one reported like 50% (before i figured out how it worked) and credit one was like 70% but with the amazon card it brought it down to 28%
my next update in 7 days will show cap one at 4% or $10 bucks, credit one $0 and amazon $0 so i'm sure i'll get a few points there.
- I want to know what credit card is my best option? (i get pre approved for discover it but may want to wait until my report updates)
- I am in need of a personal loan to pay off some "street" debt (family and friends) and really want to know what options i have that some of you all may know of. (income is 50k +)
CCT REPORTS
EX -669 EQ- 673 TU-690 at 28% utilization.
oldest account is 10 years ago a car loan for 33k that only reported for 6 months.
any help and all replies appeciated!
Unless Discover card provides a fixed APR, then take the preapproval with a grain of salt. Wait until all your statements update to reflect the change in UTI, then check your reports to see what the boost in score will be. Your next move should be dependent on your credit needs. Are you looking for a card that proves cash back benefits or are you looking for a travel card? Are you hoping to establish a long term relationship with a CU? How many INQs and new accounts do you have? With Chase's 5/24 rule, that becomes a consideration. Income is also a factor because some of the premier cards with the large annual fees might not be in line with what you make. My income is in the same range as yours and I was preapproved for the Amex Platinum and with the 40K MR points and the $200 travel credit, the card paid for itself the first year, but I might decide at month 13 to downgrade to the Amex PRG if my spend needs change.
If you are needing to get a personal loan, then prehaps now is not a good time to think about applying for additional credit. Maybe you can revisit the issue once your family obligations are taken care of. Also, it is important to let the accounts that your currently have age some. You're making wonderful progress. Give yourself the space for your profile to strengthen. As the expression goes, "Slow and steady wins the race".
Have a great week.
