Applying in the Rebuilding Stage

[thomasjm99]

Short background:

Score was in the high 400's to low 500's around 6 months ago. Did a lot of rehabbing and PFD's, GW's etc...  Scores are up to 580-590 now with 3 or 4 baddies I'm still wrestling with...

Earlier this week I was approved for a Fingerhut Account ($500) and a C1 Quicksilver One ($300)...  I am wondering what else I should app for soon (want to keep my inquiries close together so they fall off around the same time) to add to my collection of new TL's that will be positive. CreditOne will be tough since one of my CA's left is from them. Should I stick to these 2 for now or should I add one more? Two more?

Mods...  If this belongs elsewhere please move it.  Thanks!!

[Anonymous]

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@thomasjm99 wrote:

Short background:

Score was in the high 400's to low 500's around 6 months ago. Did a lot of rehabbing and PFD's, GW's etc...  Scores are up to 580-590 now with 3 or 4 baddies I'm still wrestling with...

Earlier this week I was approved for a Fingerhut Account ($500) and a C1 Quicksilver One ($300)...  I am wondering what else I should app for soon (want to keep my inquiries close together so they fall off around the same time) to add to my collection of new TL's that will be positive. CreditOne will be tough since one of my CA's left is from them. Should I stick to these 2 for now or should I add one more? Two more?

Mods...  If this belongs elsewhere please move it.  Thanks!!

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Based on your profile, I'd add a secured card if I were in your shoes.  CAP 1 and BOA have very good ones also...  I'd stay away from First Premier and Credit One..

[DeeBee78]

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@thomasjm99 wrote:

Short background:

Score was in the high 400's to low 500's around 6 months ago. Did a lot of rehabbing and PFD's, GW's etc...  Scores are up to 580-590 now with 3 or 4 baddies I'm still wrestling with...

Earlier this week I was approved for a Fingerhut Account ($500) and a C1 Quicksilver One ($300)...  I am wondering what else I should app for soon (want to keep my inquiries close together so they fall off around the same time) to add to my collection of new TL's that will be positive. CreditOne will be tough since one of my CA's left is from them. Should I stick to these 2 for now or should I add one more? Two more?

Mods...  If this belongs elsewhere please move it.  Thanks!!

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My opinion is that you now have enough tradelines to start a decent portfolio. Stay away from CreditOne, FP, Milestone, Merrick, etc, as they'll all require an annual fee, and possibly account setup fees. Let those two accounts age for 6 months or so, and you might see better offers open up (I don't know anything about your baddies).

You could add a couple of more store cards if you want to, but don't go overboard like I did. I regret opening the iComfort, J. Crew, and Overstock accounts. Amazon is a great store card to have becuase of the zero percent financing on purchases over $149, and the special offers that sometime get sent to you. I'm currently getting 12 months to pay off a digital camera I bought. 

I like my Gamestop and Express cards becaue I'm a well-dressed gamer 

[Anonymous]

How long ago are the baddies on your report? I had the same scores like you last year. I only had one credit card (Daniel's Jewelers, where I had to put a down payment) and an auto loan. I also have quite a lot of medical collections that are falling off next year. And a collection from Cap one. I decided to open a credit one (which I don't recommend doing) I only opened it because I thought I had to start somewhere with something while waiting for the Collection to come off.

Next thing you know, I got preapproved for Victoria's Secret couple of days after credit one. 2 weeks after credit one, I got prequalified and approved for Chase Freedom for $2000, then walmart, then Macys, now I also have the Cap one Quicksilver One with a low limit of $300 but it's okay cause I had a collection from them.

I would try the shopping cart tricks for now so you don't burn inquiries then I think 6 mos to a year your score will jump 100 pts.

[thomasjm99]

Baddies range from 2 to 4 years old or so.

What are some other places that are good for the SCT besides Victorias Secret?

[Pway]

JCrew, Express, Eddie Bauer, Abercrombie and Fitch.  There is a ton of them.  

Here is the link to the thread.  

http://ficoforums.myfico.com/t5/Bankruptcy/Bankruptcy-Friendly-Credit-Cards-Pt-2/td-p/3999737

[Anonymous]

I would garden those cards for a while.

[Anonymous]

Although I would check the pre qual sites, and see if you have offers first.