topic Re: How should I raise my credit in Credit Cards

How should I raise my credit

Anonymous — Fri, 07 Sep 2012 13:58:55 GMT

Short history, I destroyed my credit with a Macy's card. I now have a 618 score (chase pulled for a new slate card). I have paid everything up to date but closed the Macy's card. About a year ago my wife got a Chase Freedom card and added me to it and I have a car payment of $400 a month that will be paid off in a year or so. I make $40,000 a year and was accepted for a Chase Slate card with a limit of $200 solely because my wife added me to her chase. She also signed up for a Slate card because we want to pay off an old dell bill (that I am paying of for an old GF because I am true to my word).

I plan on using the card for everyday purchases and when it gets to $60 (30%) pay it off immediately.

What should be the plan for me for the next 6 months to a year. Freecreditreport.com is reporting 3 Hard Inquires (but not updated to today) so it could be 4 I am not sure if the slate card is considered a hard inquiry.

Re: How should I raise my credit

djrez4 — Fri, 07 Sep 2012 14:03:03 GMT

@Anonymous wrote:
I plan on using the card for everyday purchases and when it gets to $60 (30%) pay it off immediately.

This should be your plan. Use the Slate responsibly.

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 14:04:32 GMT

Get a secured card in your name...keep util below 10% and pay in full. The rest is time...even if you have to make 30 payments a month never let more then 10% report

Re: How should I raise my credit

jamesdwi — Fri, 07 Sep 2012 14:13:09 GMT

Send GW letters to Macy's perhaps you can reduce some of the damage. I would AP for a CapOne card you should be able to get a 500 CL card and then after 6 months they give a auto-cli. Use the card for 6 months to a year hopefully your score will grow. And Macy's damage will fade away, then you can AP for a Chase Freedom and/or a AMEX Zync if your scores are over 650. You may also be eligible for a CLI on the Slate card hopefully they are nice and give you a decent CL then.

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 14:26:32 GMT

I would get my foot in the door with a GE walmart card, free TU score with paperless statments and it will grow much faster with you then a cap one or chase... garden for 6months to year WITH usage and PIF you will grow the card fast. at this point the inqs not affecting socre PC slate to freedom and app for zync

the slate is a hard inq

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 14:25:29 GMT

I forgot to mention the Macys card that destroyed the credit is now charged off Some reason I opened a new one used it for a bit and closed it...Thanks for your knowledge.

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 14:28:35 GMT

even with charge off its its paid i think you have a good shot at GE card

i think GW macys could not hurt as well

WELCOME TO Myfico !

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 14:30:53 GMT

What do you mean by GE Walmart card?

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 14:36:20 GMT

the walmart credit card is backed by GE

GE is known for auto CLI every 4 months if you use right and pay ONTIME i would say pay in full after use.

GE is a bank that is forgeving of other credit mishappes as well with a 618 score (fako btw) and if your macys charge off is paid you have a good shot of approvel

it also comes with a montly free TU FICO that will allow you to get rid freecreditscore.com, chose paperless montly statments and your good to go

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 14:44:06 GMT

Thanks a ton....I was thinking. Should wait until I get my August Statement from freecredit about my hard inquires since I do not want too many of those?

Re: How should I raise my credit

nicholasyud — Fri, 07 Sep 2012 19:50:41 GMT

@Anonymous wrote:
Short history, I destroyed my credit with a Macy's card. I now have a 618 score (chase pulled for a new slate card). I have paid everything up to date but closed the Macy's card. About a year ago my wife got a Chase Freedom card and added me to it and I have a car payment of $400 a month that will be paid off in a year or so. I make $40,000 a year and was accepted for a Chase Slate card with a limit of $200 solely because my wife added me to her chase. She also signed up for a Slate card because we want to pay off an old dell bill (that I am paying of for an old GF because I am true to my word).

I plan on using the card for everyday purchases and when it gets to $60 (30%) pay it off immediately.

What should be the plan for me for the next 6 months to a year. Freecreditreport.com is reporting 3 Hard Inquires (but not updated to today) so it could be 4 I am not sure if the slate card is considered a hard inquiry.

1.stop using your chase and charge it about 1 to10 dollars each months and paid it off 200 dollars is nothing so just let the card age and get credit limit from them after 6months.

2. Get secure card at your local bank or credit union about 1000 to 3000 paidresponsible for your card .kepp util under 9% and you would see your points increase in the next 6 months or a years.

3. Goodwill Macy.

good luck

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 20:10:10 GMT

Well I just got my slate card (I have used it once) so I want to use it some, maybe 5 times a week....I just do not see the point of not using the slate at all...Also I bank with Chase so I am not sure if they have a secured credit card. Should I not get the Walmart Credit Card?

Would it be smart to pay the Walmart Card off with my Slate card or with my Checking....Also I just setup weekly reminders to pay my slate @ 7:30

I called Macys today and they said since I was more than 7 months late there is nothing that can be done....On the flip side I know someone at Macys HR department that might be able to help me, I just have not used that ace card.

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 20:10:09 GMT

i would get the walmart

and if you do have the money to deposit secured card

i dont recall macys being nice about lates charge offs.

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 20:15:04 GMT

Should I pay the Walmart off with the Slate card or just use my debit? Im just trying to boost my CS quick...But like I said I do not plan on spending more than 60 on the card at any given time.

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 20:22:00 GMT

You can't use a credit card to pay a credit card.. Its called a balance transfer..

Shop at walmart buy what you NEED Pay in FULL with linked checking account as soon as it post

for everyday use Slate card ... Gas and so on I would advise to paying this card off once a week and make sure in full b4 the end of statment. 200 limit can get maxed out fast letting this card post with a balance will dip your score but only until the next statement cycle and update for 0 due

i would think GE will give you a higher limit

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 22:50:36 GMT

Great Thanks alot again.

Re: How should I raise my credit

Anonymous — Fri, 07 Sep 2012 23:21:48 GMT

np-

if you do apply for walmart card let us know how it goes

Re: How should I raise my credit

Anonymous — Sat, 08 Sep 2012 21:15:56 GMT

Just applied and got the We'll respond to you in 7-10 days so we'll see how it goes...

Just signed up for Transunion they gave me a 601----What would be the next step if Walmart does deny me since I was not preapproved? Get a secured card?

Update I got the secured cap 1 card now its time to garden for 6 months

Re: How should I raise my credit

Anonymous — Sat, 08 Sep 2012 21:26:39 GMT

if you dont get approved recon the app with GE

nothing to lose they allready pulled report so give them a call when you get an answer.

Re: How should I raise my credit

Anonymous — Tue, 11 Sep 2012 12:10:12 GMT

So walmart sent me an email this morning stating my CS was 419 (WHHATT) either way what's the best number to call them:

GE Moneybank: 866-519-6441 (Credit Analyst/Credit Solutions)

Wal-Mart: 800-480-0205 (personal accounts)

Wal-Mart: 800-301-5546 (commercial accounts only)

Wal-Mart Underwriting: 877-294-7548; 877-294-8770

WalMart/Sam's Club: 877-294-7541 (escalated help desk)

There are no numbers on the email to call. Like you guys said they already pulled my credit so it wont hurt to call them.