Should I apply for Navy Federal CC?

[Anonymous]

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@MrsF wrote:

Hi all!

I'm currently in the middle of a credit rebuild. I have three starter/low bucket credit cards, and I would like to apply for a Navy Federal credit card, since they seem to be a little easier to get than some of the other big bank cards. I'd like opinions on whether to go ahead and apply now or wait a couple months.  Here are some stats:

Indigo card $300 CL (about a year old)

Capital One card $300 CL (1 month old)

Credit One card $400 CL (1 month old)

United Bank Visa secured card $1000 CL (3 years old - joint ownership with spouse)

I am also an authorized user on my spouse's credit cards - including a Navy Federal credit card with a $4200 CL

Highest utilization on any one card is 8% (some are lower)

Scores Equifax (637), TransUnion (670), Experian (655) - I've gained 100+ points on each over the past year due to my rebuild efforts :-)

Baddies:

1 30-day late for One United Bank yearly 3 years ago (sent first round of goodwill letters to see if they will remove it).

1 paid charge off scheduled to fall of later this year

4 medical collections (trying to get PFD)

1 collection that I'm disputing (process started)

1 credit card collection (trying to get PFD)

120-day lates on student loans (brought current; lates are a year ago)

Employed as an RN; salary $69K

Should I go ahead a try for Navy Federal? I realize the starter credit cards aren't going to increase that much as far as credit limits, so I want to graduate to something that will give me higher credit limits. Is it too soon since obtaining the Credit One and Capital One cards?

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You have the scores but even for myself i applied and wasn't approved cause i "recently opened an account" so with both of those cards being fairly new it could be a hit or miss.

[MrsF]

Update:

I just re-applied and was approved for the Cash Rewards card with a CL of $7300!!  I am BEYOND excited. So now I need to get rid of some starter cards, but I could use some advice:

Indigo Card $300 (had it about a year or so)

Capital One $300 (couple months)

Credit One $300 (couple months)

All paid on time with low utilization.

I have a secured credit card, Unity Visa, with a CL of $1000 that I have had a few years, and it has never "matured". I have one 30-day late on this one in 2017.

Right off the bat, I want to get rid of Indigo and Credit One because they have annual fees. Capital One has no annual fee. I would love to get rid of Unity Visa too, but I would lose almost 3 years of on-time payments with them, right?

I just want to make sure I go about this the right way so that I preverve every precious point on my credit scores.

EF 639, TU 687, EP 652 (these are up from the mid 500's a year ago - thanks to the sage advice on this site).

I had 6 collections, and I'm down to 3. Working on these. Also have 120-day lates on student loans that are a year old. But I'm thinking that getting rid of my collections (as much as I can) will help my scores more than closing the starter cards will hurt.

Thoughts?

[Remedios]

Congrats 

As OP indicated an approval, this thread is now closed for additional messages. 

Feel free to start a new one in the approvals forum if you wish to do so