What should I do next?

[Hevj1119]

Spent the last year or so rebuilding and finally hit the big one - closed on our first house last Friday.

Now I want to make some credit steps forward so I can just start gardening...

Here is my current credit report:

BOA CC - $300 CL
BOA SEC CC (au) - $500 CL
BOA CC (au) - $700 CL
Paid off car loan (with some lates)
GE Cap card - $2500 CL
One collection that I'm GWing the hell out of.
Soon to be a mortgage!

Scores in my signature should still be the same at the moment.

My husband and I aren't quite ready to finance him a car (we own both of ours outright) but I feel like We both need another tradeline or two before I hit the garden. I don't wanna go completely app crazy..

Any suggestions on my next steps? I want to break 700 and beyond someday

[tntexans72]

First thing you need to do is make sure there are no unpaid CO or baddies on your CR. If there are, work out with the lender to get it resolved. PIF any chargeoffs that you have. You may have to wait and be patience for 1year then try applying for a basic CC....Chase, Amex, Wells Fargo to name a few are pretty tough to get if you have a CO or baddies on your report within the L2 years. In other words, to be sure you get approved, make sure you have no CO, lates, or baddies on your CR for 2 solid years.

[myjourney]

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@Hevj1119 wrote:
Spent the last year or so rebuilding and finally hit the big one - closed on our first house last Friday.

Now I want to make some credit steps forward so I can just start gardening...

Here is my current credit report:

BOA CC - $300 CL
BOA SEC CC (au) - $500 CL
BOA CC (au) - $700 CL
Paid off car loan (with some lates)
GE Cap card - $2500 CL
One collection that I'm GWing the hell out of.
Soon to be a mortgage!

Scores in my signature should still be the same at the moment.

My husband and I aren't quite ready to finance him a car (we own both of ours outright) but I feel like We both need another tradeline or two before I hit the garden. I don't wanna go completely app crazy..

Any suggestions on my next steps? I want to break 700 and beyond someday

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Congrats on the new home Yay...Bravo

YMMV but if you shop Walmart this maybe a fit for you at this point.

Having an account with GE in good standing will help and GE cards grow quickly 

If you apply then 6 months of gardening until Mortgage hits CR and see where your scorces are.

After 6 months Discover and Cap1 maybe in striking distance if scores are still in the upper 600 range

Best wishes

[Hevj1119]

Thanks all.  Is there an optimal number of tradelines I should be gardening?

[guiness56]

No, there is no optimal amount of cards you should have.  While rebuilding, 1 or 2 is fine.

Even while not rebuilding, it isn't the number of cards you have but how you manage them.  Don't apply if you don't need it.

[Hevj1119]

Thanks Guiness...  you've never steered me wrong before

I don't need any of it, really...    The whole point in the GE Capital Card was to get a good tradeline in my hubby's name.  We had the cash available to pay for what we charged.  If it were up to me, I wouldn't have any credit cards...  but you don't get good credit that way  

I think I'll apply for a "store card" at my most shopped at place and just sit in the garden with my piddly little $300 BOA card

[guiness56]

Thank you.

Just let all but one report a 0 balance and the other at 9% or below, make on time payments for 6 months to a year and your score will go up.