Frequent Contributor
moondog7324
Posts: 488
Registered: ‎04-09-2008
Re: Advice On Getting A Credit Card?
I'm no expert, but this is what I would do. Do not dispute the bads that are going to fall off in April and August. They are showing age, and that is probablly doing more good than the harm of them being bad accounts. Use the money you would of PFD'd with and open a savings account with a credit union. Put $100 a paycheck into the account each pay period. (or whatever you can afford- direct deposit is best if your employer does it) Whn you get above $1000.00 ask for a secured card at the credit union. Hopefully this will be after April. Patience is a virtue- create good habits and your scores will come. Even after you get your secured card - keep depositing that 100 a paycheck-By August 2010 you will now have a 1000 credit card with a year of age- and around 3500 in your account! Keep the card balance below 300 and pay in full each month- so that you pay no interest! Good Luck!  Your scores are nice- but I would be afraid of getting stuck with a junk card of 300 and wasting valuable inquiries by going on an app spree. Watch for CC solicitations too. I always throw the junk cards away- but I read the terms- After I had my Credit Union secured card for about 8 months - out of the blue I got a pre-approval for a Chase Platinum. $4000. limit. - It was just a matter of being patient. Junk begets Junk- I believe a nice card showing a $1000 balance is far better that 5 Crap1's , HSBC's and First reiers with 500 each.