topic Re: What card to go to next?... in Credit Cards

What card to go to next?...

Anonymous — Mon, 13 Dec 2010 17:41:37 GMT

I have had both of these cards for appx 1 yr. I don't plan on getting another card for about 6 mo, but was wondering what the best card would be to go for next. I'd also like to know what the scores would need to be for these cards.

Re: What card to go to next?...

BungalowMo — Mon, 13 Dec 2010 17:57:58 GMT

Who do you do your regular banking with? Do you know your FICO's? What baddies are showing up on which reports.

You want to go with the company who is most likely to pull your cleanest report.

Re: What card to go to next?...

Anonymous — Mon, 13 Dec 2010 18:02:23 GMT

my score and some of the other info is in my sig. line. tu is 418

Re: What card to go to next?...

Anonymous — Mon, 13 Dec 2010 18:13:12 GMT

With scores below 600ish it is hard to find an issuer who will issue a "real" credit card with a sizeable limit. You are likely to be approved for more supprime cards at this point. I'd wait until the bad stuff falls of your report or hurts you less. At this point, you'd be wasting your inquiries if you're looking for good credit cards. The two that you have will help you bring up your score over time, though. Treat them well! However, I don't see the benefit for you of adding another $300 card to your portfolio at this point.

Your scores are extremely low. How recent is the bad stuff on your reports?

Re: What card to go to next?...

Anonymous — Mon, 13 Dec 2010 18:37:48 GMT

the student loan baddies are recent (sept) but the loan that the baddies were on has been PIF. Last month both of my cards were late The collections however are old

Re: What card to go to next?...

waqaszm1 — Mon, 13 Dec 2010 18:42:05 GMT

is the 418 a TU fico score? also, do you know your equifax, and experian scores? certain lenders only pull from a specific credit bureau. if your equifax score is higher, then perhaps you could try a lender that only uses equifax? any info on your experian report?

Re: What card to go to next?...

BrandonSS — Mon, 13 Dec 2010 19:24:37 GMT

@Anonymous wrote:
the student loan baddies are recent (sept) but the loan that the baddies were on has been PIF. Last month both of my cards were late The collections however are old

If you are paying your current cards late i suggest you learn to pay on time and manage your current cards before applying for more cards. Scores dont mean as much as they reflect, though if you are below 600 you arent going to get any good cards. I cant get a good card for the life of me due to lates from over a year ago apparently. My FICOs are below.

Re: What card to go to next?...

BungalowMo — Mon, 13 Dec 2010 19:41:49 GMT

I agree with what has been posted. The best lesson I learned here is....repair....then rebuild.

With recent lates on the cards you have, that isn't going to help matters. You need to put those cards away until the balances are paid in full.

The best thing to keep in mind....credit cards are not to be seen as an extension of your salary, as they are anything but!

Re: What card to go to next?...

Anonymous — Mon, 13 Dec 2010 20:58:33 GMT

@Anonymous wrote:
the student loan baddies are recent (sept) but the loan that the baddies were on has been PIF. Last month both of my cards were late The collections however are old

I suggest you concentrate on taking care of 2 that you have, before you lose them.

Re: What card to go to next?...

Anonymous — Tue, 14 Dec 2010 00:54:11 GMT

@Anonymous wrote:
Last month both of my cards were late.

That's a bad start into a better credit history. People have to pay on time over the course of many years. That's what builds their good credit scores. Your recent lates will demonstrate to lenders that you're not a dependable borrower. We all want a lot of desirable cards quickly (me included), but time is a true indicator of someone's financial reliability as a borrower. This cannot be rushed.

Re: What card to go to next?...

haulingthescoreup — Tue, 14 Dec 2010 00:58:54 GMT

@Anonymous wrote:
the student loan baddies are recent (sept) but the loan that the baddies were on has been PIF. Last month both of my cards were late The collections however are old

I don't mean to be piling on here, but you now must stop applying for anything at all, period, until both lates are over a year old. Better still, over two years old.

Even if anyone approved you now, the CL and APR and fees would be horrible.

You have to look like a desirable credit customer. There's just no point in looking for credit until you do.

Re: What card to go to next?...

Anonymous — Tue, 14 Dec 2010 01:25:27 GMT

If you have a hard need for a credit card with a higher limit. That is you have to purchase something that can only be bought with CC. I suggest you look at Public Savings Bank secured card. They have decent terms and don't do a credit check.