cancel
Showing results for 
Search instead for 
Did you mean: 

Why is the magic recipe 3 bank cards?

tag
jamie123
Valued Contributor

Re: Why is the magic recipe 3 bank cards?

With scores around 556 the two CCs are good enough for now.

 

Rebuilding credit as quickly as possible takes a two pronged approach. You need to have some type of credit to add good information and build good history on your reports. This will help balance the baddies that you have on your reports. The two credit cards that you have now will be doing that just fine for now. Most importantly you need to work at having the baddies removed from your reports. You need to visit the "Rebuilding Credit" forum here and learn how to do PFD (Pay for Deletes) and GW letters (Good Will). Nothing you can do will raise your scores faster than having baddies removed.

 

You have all the secured cards that you need. You need to wait until your scores rise to at least 620 before making your next credit app. Once your scores rise above 620 you should app for a Walmart card. It is the rebuiler's card of choice around here.

 

You eventually want to end up with 5 to 8 unsecured credit cards that you can keep open for life.


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 3/10/20 - EX 820 3/13/20 - TU 825 3/03/20
Message 11 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.