topic Re: Should I try for another CC in the next couple months? in Credit Card Applications

Should I try for another CC in the next couple months?

Anonymous — Wed, 08 Apr 2015 14:39:43 GMT

Hi everyone! So I am in the midst of my rebuilding period and trying to build my credit profile up as best I can. I currently have a Discover card that is 14 years old, a Macys thats 5 years old and this week got approved for a Visa with CL of $2000 with my new credit union. I have read here in the forums that ideally I should have at least 3 bankcards and 1 store card to maximize my FICO score. My question is if I should try for one more bank card now? As part of my gardening process I recently got PFD agreements on 4 medical collections and 1 from CCS for Progressive. Once my file is updated that will leave me with these baddies:

- 1 open collection for Verizon that I am still attempting PFD

- a closed PIF collection showing from an old apt from 2012

- recent PIF CO I had from Cap One

- a few lates on student loans that were refinance 4 years ago

My current scores are EQ 605 TU 609 EX 610. I am hoping for score bumps once the PFDs are deleted. So all that to say, does anyone have any thoughts on 1) if I should try for one more card in next couple months and 2) which card might I have the best shot at getting approved for. I'm trying to stay away from Cap One because of the annual fees but might they be my only option? Thanks for any advice!!

Re: Should I try for another CC in the next couple months?

Anonymous — Wed, 08 Apr 2015 17:40:44 GMT

bump!!! I need your expert advice good people! :-)

Re: Should I try for another CC in the next couple months?

Anonymous — Wed, 08 Apr 2015 17:49:09 GMT

PFD's are usually huge score boosts...wait for them to clear. It doesn't work well when they're your only tradelines as they are part of your AAoA

CapOne has non-AF cards (Quicksilver and VentureOne) and AF waived first year cards (Venture). No need to avoid them.

Once you're clear of baddies, go to work. I personally would go for both CapOne's (Venture then QuickSilver) as they are as you say "your best shot". NFCU is always a great option if you have some kind of military affiliation.

Re: Should I try for another CC in the next couple months?

Anonymous — Wed, 08 Apr 2015 18:46:44 GMT

@Anonymous wrote:
PFD's are usually huge score boosts...wait for them to clear. It doesn't work well when they're your only tradelines as they are part of your AAoA

CapOne has non-AF cards (Quicksilver and VentureOne) and AF waived first year cards (Venture). No need to avoid them.

Once you're clear of baddies, go to work. I personally would go for both CapOne's (Venture then QuickSilver) as they are as you say "your best shot". NFCU is always a great option if you have some kind of military affiliation.

Thanks for your response! With NFCU, does my dad being a veteran count? Would he have to open an account first?

Re: Should I try for another CC in the next couple months?

TheGardner — Wed, 08 Apr 2015 18:54:52 GMT

Would have had to retired from the military.

Advice will depend on score after the deletes. The recent CO (PIF) is going to hurt your gains from deletions. I don't know how many points you will gain that's why it's important.

When updated try Barclaycard you will likely have good results

Re: Should I try for another CC in the next couple months?

Anonymous — Wed, 08 Apr 2015 19:13:52 GMT

Thanks for your input!

@TheGardner wrote:
Would have had to retired from the military.

Advice will depend on score after the deletes. The recent CO (PIF) is going to hurt your gains from deletions. I don't know how many points you will gain that's why it's important.

When updated try Barclaycard you will likely have good results