Looking for some Recommendations

[Anonymous]

Hi y'all, 

I have been lurking for the past few weeks now.  I am currently rebuilding my credit due to poor decisions when I was 19 with Amex and a NSPL card they issued.  As a result of my history I am not looking for any Amex, BofA or Wells Fargo accounts.  

I have the following accounts:

Apple FCU myRewards $1000 (Aug 2014)

Capital One Spark Business $500 (Apr 2018)

Capital One Platnium $500 (Aug 2018)

Apple FCU Car Loan $5,500 remaining (paid 100% on-time)

Current Score: 

TU 606

EX 603

Besides Amex, which was reported as a charge-off, I do not think there are anything negative on my score.  I am wondering if there has been anyone in my shoes who has any suggestions on what to apply for next.  Thanks in advance!!

[LuckyB338]

Welcome to the forum!

Short answer: Discover It Student (don’t have to be a student, but has higher approval odds). If not a secured card might be a way to go too.

Long answer: I would shy away from applying for any cards for about a year. You should charge a small amount on each of your existing cards, let it report and pay in full. What’s the utilization on each of those cards? try to keep it between 1-15%. Get your scores up and start checking pre qual sites. If you keep applying for credit it’s gonna drive your score further down, add inquiries, and result in low starting limits (ex: cap1).

[SouthJamaica]

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@Anonymous wrote:

Hi y'all, 

I have been lurking for the past few weeks now.  I am currently rebuilding my credit due to poor decisions when I was 19 with Amex and a NSPL card they issued.  As a result of my history I am not looking for any Amex, BofA or Wells Fargo accounts.  

I have the following accounts:

Apple FCU myRewards $1000 (Aug 2014)

Capital One Spark Business $500 (Apr 2018)

Capital One Platnium $500 (Aug 2018)

Apple FCU Car Loan $5,500 remaining (paid 100% on-time)

Current Score: 

TU 606

EX 603

Besides Amex, which was reported as a charge-off, I do not think there are anything negative on my score.  I am wondering if there has been anyone in my shoes who has any suggestions on what to apply for next.  Thanks in advance!!

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At this point my advice would be not to apply for anything, let your profile age.

[Anonymous]

Aging and gardening have been my plan.  Currently my utilization is always under 10%. 

[Anonymous]

+1 to tha aging and gardening plan. Try and keep utilization at or below 8.9%. Odd number I know, but algorithmically it works for FICO scoring. Right now just do your utmost to PIF each month. When you get ready to apply for a new tradeline, you’ll want to use AZEO to enhance your scores. There are numerous threads on the subject, but bottom line is to have all accounts report zero balance except one. The one that reports should be 8.9% or lower. As soon as it reports (but before due date) PIF. That said, concentrate for the next year on aging your accounts and ALWAYS paying more than the minimum (if not PIF) EVERY month.

[LuckyB338]

Stay in the garden. Time will go by and things will improve and when they do I’d look for a way back in with Amex, then disco. Keep us posted.

[SweetCreditObsession]

Are those FICOs or Vantage scores? If they are FICOs, it may be prudent to work on CLIs and letting your positive profile age a little more.

[Anonymous]

Vantage scores. I was thinking about CLIs for the existing accounts I already have but am not sure how that process normally works and what’s the best tips. I was going to do a bit more lurking before trying any new apps or CLIs.

[Anonymous]

Don’t lurk! Come to the Garden and hang out! Just don’t talk about apps there, they try and avoid too much credit other than gardening and maybe pruning cards. Get your app fixes by visiting the other boards, reading, helping others when you can, and just learning.

[SweetCreditObsession]

Look at these boards to see when you can request CLIs for your specific cards.