My score recently hit 641. I was reading about Target Red and said what the heck and applied and got a $200 dollar approval. Not much I know but I was very happy. I've come a long way since my 580 over a year ago. Since then I've gotten (3) Capital One cards(one of them is secured), an unsecured Discover, a secured Open Sky, a Walmart card and a car loan.
Earlier last week I got a mailer in from BBVA bank for a credit card pre approval. I called them and they said I had been pre approved. I let them do a hard pull and then they told me that I would have to submit some info to verify my id. I had heard that before so I figured I was denied.
Then BAM! 8K credit card approval! I am elated. I have stayed the course with the exception of being at 41% utilization. This is for some furniture I purchased (3K) and I am paying that off by the end of January 2020.
What have I learned during this 24 month journey:
1. Aggresively have things removed from your credit report that shouldnt be there
2. Get a few secured cards-Capital One, Discover etc-and never ever let them report more than $10 dollars or so each month
3. Get a large loan of some type. Some people advise against this but I got a loan from Capital One for a car. The interest rate is terrible but I knew if I bit the bullet for six months or so I could refinance.
4. Never ever pay a bill even one day late.
Now I have three goals left:
1. Get an AMEX. Lifelong goal. I dont care what AMEX it is.
2. Refinance my car. The interest rate is ugly but I have had it nearly six months.
3. Buy a house. I need to save 10k. I am going to try to get an FHA loan.
4. Get my utilization down to 0. I can do that by paying off the 3k by the end of January.
I want to thank everyone on this website who has helped my on this journey. And the journey continues.
Congrats on your recent victories !