What credit cards would I be approved for?

[Anonymous]

Hey all,

Looking for some advice on a new Credit Card.  So my scores are currently as follows 

609 - Equifax
626 - Transunion
614 - Experian

Although I have since paid down my balance from 29% down to about 15% utilization and my score is set to update tomorrow hopefully I will get a bit of a bump in my score.

My inquiries are high at 30 in last 12 months. (Car shopping and more)

I have the following cards:

Cap one secured = started w/ $200 deposit and they graduated to $500

Cap one QS1 - $500 

Cap one Playstation rewards - $1,250

Jared's Jewelery - $1,000 

NYandCO - $500

Victoria Secret - $350

Total - $4,100 - Balance: $609

I am looking to add an actually good credit card to my profile, wishing for AMEX but I am probably a ways from that so is there any decent cards out there that you guys think I would have a chance of being approved for? Just looking for a card with at least $3k line.

Thanks in advance!

[Anonymous]

Then info that you’ve provided is only part of your credit profile picture. What’s holding your scores down?

Generally speaking, however, I’m not sure you’ll gain much traction, yet, on getting any card outside of the subprime category. Within the subprime category, I doubt you’ll get a CL of $3000.

Without more info, I’ll speculate that you need to address whatever derogatoriness are within your profile and then benefit from time.

[Anonymous]

@CreditSweeper

Deragotories -

1 collection - $62 with IC System from 2013

2 Chargeoffs - Bank of America $854 from 2013, First Premier $456 from 2016

100% payment history on all of my current accounts

[Anonymous]

After you see where your scores update after the decreased UTI (btw - if you can get it below 8.9% for your next cycle, you’d see another score increase as well) you might try some of prequal sites like Discover. If you have an in to join NFCU they’ve proven to be friendly to not so perfect profiles as well.

[Anonymous]

Thanks for the help!

I will look into NFCU

[Blackswizz750]

I'd you have 30 inqs in 12 months, you should stay in the garden for a while. When did you get the cards you have now?
Unless you can get in Navy or find a pre approval, you should stay put.

[Anonymous]

Dates accounts were opened:

Capital One Secured - 2/18

Capital One QS1 - 9/18
Capital One Playstation - 3/18

VS - 9/18

NY&CO - 9/18

Jareds - 11/18

[Anonymous]

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@Anonymous wrote:

Dates accounts were opened:

Capital One Secured - 2/18

Capital One QS1 - 9/18
Capital One Playstation - 3/18

VS - 9/18

NY&CO - 9/18

Jareds - 11/18

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I would recommend continued gardening until October or November (December would be best) so that none of your accounts are under 1 year old.  You have quite young AAoA, that along with your derogs is going to work against you getting approved for a quality card.  Keep working on paying down utilization and aging your current crop of accounts and let the derogs get further behind you.  I believe by December you'll be in a much better position.

[audio-disabled]

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@Anonymous wrote:

@CreditSweeper

Deragotories -

1 collection - $62 with IC System from 2013

2 Chargeoffs - Bank of America $854 from 2013, First Premier $456 from 2016

100% payment history on all of my current accounts

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When in 2013 did you incur the collection and one charge off accounts? Come 2020, they will fall off your report. However, if you want your scores to jump sooner than you'd like, I would take care of that $62 collection account and $456 with First Premier. Do pay for delete. That could give you quite the jump in your scores.

I'm with the others, garden until later this year, give some time to age your accounts and let inquiries fall off too.

[xaximus]

Definitely wanna pay off the $62 charge as that would help give you a bit of an increase. The other 2, I would try to see if you can either work out a deal (settlement) or PFD if possible. The CO's are definitely holding your scores back by a large amount. Once you clear those off, you'll have a much higher chance of getting better TLs. Otherwise, they will definitely hold you back for 7 years from when they reported.