Re: Why Am I Not Getting Approved?
10-08-2012 05:30 PM
A recent 30 day late can have a large effect. The good thing is that its effect doesn't last that long compared to other major derogatories.
If you have no open credit cards, you probably would see a score increase from opening a card. While you take hits for an inquiry, a new account, and lowering of AAoA, a lot of people report seeing an increase when they have no revolving credit and they add a card. Sometimes there is an increase for the second card as well. Adding a secured card as suggested may be a good approach.
Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 757 (provided by Barclay 9/14/13), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720
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