topic Re: Credit Card to Improve Equifax Score? in Understanding FICO® Scoring

Credit Card to Improve Equifax Score?

Anonymous — Thu, 19 May 2016 19:21:30 GMT

Yesterday, I went to a financial counselor and she did a "soft pull" of my credit with Credco. The results were as follows:

Equifax - No Score

Experian - 710

Trans Union - 669

Three unpaid collections, each for about $200.

She recommended I open up another credit card. What is the best credit card I can apply for in this situation?

How can I get my Equifax Score up to snuff, and does it matter that I have no Equifax score when I am applying for business credit, personal loans, car loans, etc?

Re: Credit Card to Improve Equifax Score?

creditguy — Thu, 19 May 2016 19:23:53 GMT

Do you currently have an credit accounts? If so none are reporting to EQ?

Re: Credit Card to Improve Equifax Score?

Anonymous — Thu, 19 May 2016 19:27:08 GMT

I have a Discover card currently open, and I've had several Mastercards and a Guitar Center card in the past that were in good standing but are currently closed.

Re: Credit Card to Improve Equifax Score?

creditguy — Thu, 19 May 2016 19:32:57 GMT

Try prequals from Amex, Chase and Cap One and see what comes up, that would be a good start since you have pretty decent scores from Ex and TU.

Re: Credit Card to Improve Equifax Score?

SunriseEarth — Thu, 19 May 2016 19:51:31 GMT

@Anonymous wrote:
I have a Discover card currently open, and I've had several Mastercards and a Guitar Center card in the past that were in good standing but are currently closed.

How recently did you acquire the Discover Card? How long ago did you close the Mastercards and Guitar Center card?

Re: Credit Card to Improve Equifax Score?

Anonymous — Thu, 19 May 2016 19:54:09 GMT

>>> I have a Discover card currently open, and I've had several Mastercards and a Guitar Center card<<<

Discover would definitely report your credit activities to Equifax as one of the BIG 3 CRAs.

I'm betting your Equifax acct is FROZEN, you just need to thaw it out.

Re: Credit Card to Improve Equifax Score?

Anonymous — Thu, 19 May 2016 21:00:41 GMT

Where should I head to apply for prequalified Amex, Chase and Cap One cards?

I acquired the Discover Card a few weeks ago. I closed the Mastercards and Guitar Center card four to five years ago.

What's the first thing I need to do to thaw out my Equifax acct?

Re: Credit Card to Improve Equifax Score?

RonM21 — Thu, 19 May 2016 21:05:32 GMT

Once the Discover reports, it may eventually generate something for EQ. But I'd go ahead with getting another card.