topic Re: how long in Credit Cards

how long

Anonymous — Tue, 19 Aug 2014 21:48:55 GMT

Hi everyone. I'm on a quest to restore my credit after being discharged from bankruptcy in November of last year. My question is I was approve for a first premier credit card and I activated it about a week ago. How long will it take before I see a increase in my score so I can apply for about 2 more cards? My goal is to purchase a home in about 2 years from now. Any advice. I already pulled my cr and pretty much every thing is accurate and put under bankruptcy and reporting correctly.

Re: how long

Creditaddict — Tue, 19 Aug 2014 21:50:27 GMT

@Anonymous wrote:
Hi everyone. I'm on a quest to restore my credit after being discharged from bankruptcy in November of last year. My question is I was approve for a first premier credit card and I activated it about a week ago. How long will it take before I see a increase in my score so I can apply for about 2 more cards? My goal is to purchase a home in about 2 years from now. Any advice. I already pulled my cr and pretty much every thing is accurate and put under bankruptcy and reporting correctly.

What is your score currently?

Re: how long

PlasticOrPlastic — Tue, 19 Aug 2014 21:51:49 GMT

For me it was a few months. I purchased a vehicle, opened a Cap1 credit card and within 3-4 months my scores started to come up. Have you tried the pre approval for Cap1 or Barclay Rewards? Be sure to use your 1st P and make payments over the minimum and on time. Since its your only card right now be sure to stay around 1-9% to help bring your score up. Purchasing a home in 2 years should really be no problem at all.

Re: how long

Anonymous — Tue, 19 Aug 2014 23:29:15 GMT

As of right now trans 550 experian 540 Equifax 515. I tried the preapproval from capital one but it said it couldn't find a card for me. Should I still try the Barclay preapproval or just wait until my score come up from 1st premier

Re: how long

Creditaddict — Tue, 19 Aug 2014 23:30:22 GMT

@Anonymous wrote:
As of right now trans 550 experian 540 Equifax 515. I tried the preapproval from capital one but it said it couldn't find a card for me. Should I still try the Barclay preapproval or just wait until my score come up from 1st premier

I would wait till you hit 600.

that should open up some store cards, cap1, barclay

Re: how long

mongstradamus — Tue, 19 Aug 2014 23:34:42 GMT

just curious why have you not tried for an secured card like BOA or discover, with those at least you could get some cash back in the process?

Re: how long

Anonymous — Tue, 19 Aug 2014 23:37:35 GMT

No I have not but I have been reading that you will need at least 300 or more to start off. At the time I didn't try because I didn't have 300 to give. But I might try that in a couple of weeks how much credit will they give you with the minimum 300 deposit

Re: how long

Creditaddict — Tue, 19 Aug 2014 23:38:35 GMT

@Anonymous wrote:
No I have not but I have been reading that you will need at least 300 or more to start off. At the time I didn't try because I didn't have 300 to give. But I might try that in a couple of weeks how much credit will they give you with the minimum 300 deposit

300

Re: how long

heyarrnold — Tue, 19 Aug 2014 23:38:36 GMT

@Anonymous wrote:
No I have not but I have been reading that you will need at least 300 or more to start off. At the time I didn't try because I didn't have 300 to give. But I might try that in a couple of weeks how much credit will they give you with the minimum 300 deposit

Usually:

your deposit == the credit limit.

Re: how long

Anonymous — Tue, 19 Aug 2014 23:43:08 GMT

Ok will apply for on in a couple of weeks and see how it goes. Cnt wait to get my score up and buy my first home

Re: how long

PlasticOrPlastic — Wed, 20 Aug 2014 19:28:37 GMT

@Anonymous wrote:
Ok will apply for on in a couple of weeks and see how it goes. Cnt wait to get my score up and buy my first home

Apply for the BofA card, theres a good chance you might get selected for the 99/500 secured card. You give them $99 bucks they give you a credit card with $500 limit. Definitely worth a try, I just did it last week and was approved (even though I didnt need a secured card).

Re: how long

mongstradamus — Wed, 20 Aug 2014 20:27:36 GMT

@PlasticOrPlastic wrote:
@Anonymous wrote:
Ok will apply for on in a couple of weeks and see how it goes. Cnt wait to get my score up and buy my first home
Apply for the BofA card, theres a good chance you might get selected for the 99/500 secured card. You give them $99 bucks they give you a credit card with $500 limit. Definitely worth a try, I just did it last week and was approved (even though I didnt need a secured card).

if you do that i heard of an lot people who have had success getting their secured converted to an secured 3-2-1 card which would be nice so you are getting an little cashback when you use it. I personally have never tried that, I wish i applied for secured boa when i was rebuilding as opposed to First Progress and Cap one, both weren't bad but didn't get any cash back !!! and cap one gave me dreaded triple pull argh