Which card/plan would be best?

[Anonymous]

Hi, I've been lurking for a while, but this is my first post.
Last September I decided to start caring about my credit. I'd never had a credit card, ever. And when I applied in the past(probably only twice in my life, I'm almost 40 now) I never got them.
I got a secured Capitol One card 9/18, limit is now $500. Last month I got the Quicksilver One, limit is $300. The balance between the two is $60.00 total. I got confused about posting dates/statement dates so last month the reported utilization was high(96%), and the QS1 had not reported yet, so my score dropped to 585(score from Wells Fargo Fico 9). I'm waiting until next statement to do the $1 trial.
I've been getting offers from Credit One in the mail and Finger Hut. Should I accept one of those in order to have 3 lines?
I also became a member of NFCU- should I get a secured card from them or wait until my scores go up a bit, then try for an unsecured card?

I have 3 collections- all medical $60, $800, $600 that will drop off in 2020.
Thanks!

[HOODLUMZ007]

If you get a mailer, you have pretty good odds of getting approved as it's kinda like an invitation to apply because you met their criteria to receive a prescreened offer.
The NFCU, I got approved with a Transunion 616 score in January of this year. I think I've read of them approving as low as 560 but you need to be sure first.
I would recommend getting util to 8.9% on 1 card, leave the other at zero, wait for statements and credit report to update low utilization and then apply for NFCU Go Rewards card.
After approval, either immediately apply for their CLOC or wait 30 days. When applying ask for the max (15k) and let them counter you or be safe and ask for less.
I got a NFCU for 7k at 13.24% and I asked for a 5k CLOC and was approved at 16.9%.
Don't do CreditOne, they are not going anywhere.

Best of luck!

[Anonymous]

Oh, so the 8.9 needs to be on 1 card? Lol. Doh.

[Anonymous]

Thanks for the help!

[moosemoney]

You don't need to get any predatory cards to build credit. I know it can be tempting, but you're better off avoiding Credit One like the plague. 

Good luck to you 

[Anonymous]

I thought so, that's why I didn't even go there with Credit One or Finger Hut. But if I was advised here to take that step, I would.
And thank you.

[pinkandgrey]

Noooo not Credit One lol. Definitely try for the Navy secured. Navy tends to be very good to its members. In any case, just keep using your two other cards well and try to keep the reported balance low. The statement balance is what gets reported. Good luck!

[Anonymous]

Should I try for the Navy secured or wait? I definitely don't mind waiting.
Also, I'm switching my business banking to Navy. Should I do that first, then apply for a CC since I will have more accounts there?
Should I move business accounts, then get a secured card?
Or
Wait until my new card reports, my utilization goes down(already paid to reflect $30 on the secured card w/$500 limit, other card will be @ $0), my scores go up a bit and transfer my business banking?
Does it even matter since that card actually graduates?
Thanks for the information!

[pinkandgrey]

If you’re going to move your banking to Navy anyway, I would do that first. And then go for the card once you’re “in” with Navy. Good luck!

[Anonymous]

Good deal, thank you