Hi EVERYONE!!
Slight background:
I’ve Been on the Rebuilding Forum since Feb of this year. I’ve gained enormous knowledge and I thank everyone for their support.
But, it’s time to leave the cave and start exploring.
I have gotten through learning how to approach and repair my CR issues and all the necessary requirements to graduate a step up in the Rebuilding Forum. At least, I want to believe I had. HA! LOL 😉
I’m coming up on my 6 mos In the Garden in November. So, I have a few questions and need advice on Applications and whether or not I should wait? I know I need to thicken my file…but, I’m in NO HURRY for purchasing anything BIG in the next couple of years or so. So, I have time. I still have 6 collections and 3 charge offs(too large) that need another year or so to be out of SOL. 3 out of those 6 collections just POPPED UP(UGH) in July. I just sent out PFD to all 3. Small amounts $30-$16-$16…grrrrrrrrrrr(co-pays from 2015 thought were paid, my bad). ALL collections and charge offs are updating monthly, except one, thankfully.
My starting scores were EX 527 TU 494 EQ 483
(layoff from oil field 2015…sad day ☹) I didn’t EVEN attempt to apply KNOWING I would be denied INSTANTLY!
So, in MAY of this year, had DW put me on as AU on her newly app’d CapOne Platinum(credit steps) $300SL
Next day, I app/approved for Fingerhut FreshStart($180SL) to add an installment for 6 mos.(graduates Nov)
The same day CapOne hit my CR in JUNE, I immediately app/approved for Discover IT(secured) $200SL
09/07/2018(CCT)
Scores Now: EX 583 TU 564 EQ 581
CapOne(AU) $300SL-UTL 55%
-I know it’s hurting my scores, too. I keep telling her but, she never listens
... But, will be paid down to 1% for October and November reporting.(ONLY reports on TU and EQ)
Discover IT(secured) $200SL-UTL 2%-reports to all 3
FingerhutFS $53-reporting install/bal $21-reports to all 3
So, in November, I will be at my 6 month mark with MY OWN two accounts in my name. Allowing for accounts and inquiries age 6 mos and old inquireis to fall off. Hopefully, my scores will be at least hovering around 600(?) Which is still horrible, I know. But, it'll be my first targeted score goal since my rebuild. So, for arguement sake
, let’s say, they are 600. Which direction should I go? Wait? App for another secured cc? Keep trying CapOne prequals? I would like the CapOne Platinum, to continue building along with my Discover It. I also know I will need another installment-after losing FH in November.
Inquiries are and will be:
EX 5 but -2 in Oct and 1 in Dec.....leaving 3
TU 3 but -1 in Oct and 1 in Dec.....leaving 1
EQ 4 but -1 in Oct......leaving 3
So, basically, this where I sit…in a nutshell. I know a lot can happen in 2 months but, let's stick to the hypotheticals, for now. 
Any advice on apping or waiting?
TIA
Slight background:
I’ve Been on the Rebuilding Forum since Feb of this year. I’ve gained enormous knowledge and I thank everyone for their support.
But, it’s time to leave the cave and start exploring.
I have gotten through learning how to approach and repair my CR issues and all the necessary requirements to graduate a step up in the Rebuilding Forum. At least, I want to believe I had. HA! LOL 😉
I’m coming up on my 6 mos In the Garden in November. So, I have a few questions and need advice on Applications and whether or not I should wait? I know I need to thicken my file…but, I’m in NO HURRY for purchasing anything BIG in the next couple of years or so. So, I have time. I still have 6 collections and 3 charge offs(too large) that need another year or so to be out of SOL. 3 out of those 6 collections just POPPED UP(UGH) in July. I just sent out PFD to all 3. Small amounts $30-$16-$16…grrrrrrrrrrr(co-pays from 2015 thought were paid, my bad). ALL collections and charge offs are updating monthly, except one, thankfully.
My starting scores were EX 527 TU 494 EQ 483
(layoff from oil field 2015…sad day ☹) I didn’t EVEN attempt to apply KNOWING I would be denied INSTANTLY!
So, in MAY of this year, had DW put me on as AU on her newly app’d CapOne Platinum(credit steps) $300SL
Next day, I app/approved for Fingerhut FreshStart($180SL) to add an installment for 6 mos.(graduates Nov)
The same day CapOne hit my CR in JUNE, I immediately app/approved for Discover IT(secured) $200SL
09/07/2018(CCT)
Scores Now: EX 583 TU 564 EQ 581
CapOne(AU) $300SL-UTL 55%
-I know it’s hurting my scores, too. I keep telling her but, she never listens
... But, will be paid down to 1% for October and November reporting.(ONLY reports on TU and EQ)
Discover IT(secured) $200SL-UTL 2%-reports to all 3
FingerhutFS $53-reporting install/bal $21-reports to all 3
So, in November, I will be at my 6 month mark with MY OWN two accounts in my name. Allowing for accounts and inquiries age 6 mos and old inquireis to fall off. Hopefully, my scores will be at least hovering around 600(?) Which is still horrible, I know. But, it'll be my first targeted score goal since my rebuild. So, for arguement sake
, let’s say, they are 600. Which direction should I go? Wait? App for another secured cc? Keep trying CapOne prequals? I would like the CapOne Platinum, to continue building along with my Discover It. I also know I will need another installment-after losing FH in November.
Inquiries are and will be:
EX 5 but -2 in Oct and 1 in Dec.....leaving 3
TU 3 but -1 in Oct and 1 in Dec.....leaving 1
EQ 4 but -1 in Oct......leaving 3
So, basically, this where I sit…in a nutshell. I know a lot can happen in 2 months but, let's stick to the hypotheticals, for now.
Any advice on apping or waiting?
TIA
>
IMHO, I would apply for an open sky secured cc which requires no credit check so no HP. You also would benefit from an installment tradeline. Look at a shared secure loan with a CU or an account with Self Lender. I would continue to work on building your file before applying for unsecured bank cards.
Thanks for the quick reply👍
I thought about the OpenSky but, I believe it has an annual fee of $39?
With where I’ll be(if my math is correct?) and where I’m at on collections/CO’s, you think I’d have a chance at getting approved for the CapOne Secured? It doesn’t have an annual fee and graduates. Just a thought...I was denied it back in June when I app’d for the Discover Secured. But, I’ve cleaned up a lot of baddies since then. What I have left is what I’m stuck with for now.
I thought about the OpenSky but, I believe it has an annual fee of $39?
With where I’ll be(if my math is correct?) and where I’m at on collections/CO’s, you think I’d have a chance at getting approved for the CapOne Secured? It doesn’t have an annual fee and graduates. Just a thought...I was denied it back in June when I app’d for the Discover Secured. But, I’ve cleaned up a lot of baddies since then. What I have left is what I’m stuck with for now.
You can check Cap1's site for pre-approval. Good Luck!