Where to start…

[Salahh]

All derogs recently fell off and my score jumped to 697 Exp. If I get util under 7%, it'll be above 750 next month.

I currently only have a Discover It card with a $500 CL. I just applied for AmEx Gold and was denied because my current credit limit is too small. 

Wondering where I should start - requesting CLI with Discover? Applying for other cards? I'm pre-approved for a Credit One 5X card, but hear that Credit One isn't that favorable.

At my current CL/score, are there any cards you guys recommend applying for?

Thank you, all!

[Jnbmom]

We need more information.

You stated all derogatories were removed. Were they collections , charge offs , lates?

so you only have ONE credit card ?

[Salahh]

2 collections & 1 charge off gone. Correct, only one card at the moment - with $500 limit. My monthly report for them which is considered for CLI updates next month on the 12th, so waiting until the 13th to request CLI. My goal is to get the AmEx Gold, and my denial reason was that my average credit limit/payments last 12 months are too low (I pay in full every month but it's only around $200). 

Thankful for any advice on the best next steps for my situation 🙏 

[Jnbmom]

Do you belong to any CUs? If not you may want to join one. If you are eligible for NFCU that's a good one . Yes credit one isn't the greatest, but you gotta start somewhere . Do you subscribe to credit karma ? They sometimes will show offers for some cards .

Who were the collections or charge offs with  

Have you tried Cap one prequalify?

I would try to open 2 more cards and if no loans , opened a secured loan (NFCU is good for this ) .

Use those cards wisely and you will have a good mix . 

[Harvey26]

@Salahh I will second the CU recommendation, Penfed as a prequal or Capital One or check with your bank. Also discover can report off cycle. Give them a call and ask them to report off cycle and it usually shows in a day or two. Then you should have much better odds. Also I would try for like the Blue Cash Everyday since you only have 1 card. 

[Salahh]

The c/o was with US Bank. The 2 collections were with Synchrony & Comenicity (sold to collections). 

Credit union sounds good. Pretty sure my grandpa served, will have to check.

With 1 card/$500 credit & a 697, do I stand a chance applying with NFCU, or better to wait?

Thank you!

[Salahh]

Thank you for the tip about reporting. Called Discover and they walked me through it. Will ask them to do this after my current payment posts 🤝 

[FicoMike0]

Navy is big on relationships. Join right away. They have a no fee no min checking. If you open checking and do direct deposit, that starts a relationship. I joined in july. I also opened a CD with them, they have a $50 min cd. Against all advice, I just apped their flagship visa. I was approved, but with only a $6500 cl. They are known to go much higher.

The advice I got was to app a different card and maybe wait longer. I only wanted flagship, but that's me. I had the advantages of a 800+ score and a $50,000 agg. cl.

Take a look

https://www.navyfederal.org/loans-cards/credit-cards.html#

Their cashRwards has a nice $200 sub.

Their preapproval isn't well thought of, but it worked for me. After a few months membership, I'd try preapproval and take a no as a no, but a yes as a maybe.

[Salahh]

NFCU is def highest on my radar right now. Verifying with family if my grandpa served; he left behind tons of military equipment, pretty sure he did. 

That's awesome that you got approved on the first try. With my low current CL and lack of credit profile, I think I'll apply for another card and aim for the flagship later. Def interested in a Pledge Loan as well, and opening all kinds of accounts with them.

But, it's all dependent on qualifying with them 🤞

[FicoMike0]

I got 30-40 points from a ssl. I did penfed, navy seems to be the preferred (and only other) option. Search on ssl. If interested, the big difference is up front cash, you can do five years for $1500 with pen, twice that with navy. You get it all back in 30+ days. It's complicated, post if interested, someone will guide you.

You mentioned gold as a goal, will you really get the $350 af worth of value from it? I d look at bce, use the amex apply with confidence preapproval, it seems to work well.