First off my credit took a huge plunge in 2013 because of divorce and business venture going south. I had two CO and a repossession. I said to myself I am screwed for the next 7 years. I knew I would have to crawl out of this hole one day but I decided to start sooner than later.
With my scores in the mid to low 400's, I applied for a Cap1 secured card with a $200 CL about June 2016. I have used that card with optimal %util and last month, June 2017, tried for a Cap1 QS1 and was approved SL $300. Scores in the mid 500's at this point. Around the same time I was denied a BOA secured. Whatever. This month checked my scores on CK and have TU 616 and EQ 609. I applied for Discover It secured $700 secured..Approved. I applied for a Citi Secured $300..Approved. I applied for a BOA secured $500..Approved this time. Applied for Fingerhut acct..Approved instantly for $400. Last month I also traded my car in and was approved for a new Toyota, with Toyota Financial because of large down payment. My installment amt $192 with a bal of $7892 for 48 mos.
I know it's time to garden for awhile but I think I'm on the right track. A couple models have me at mid to upper 600's in 6 mos. Is there anything else I can do to help my score?? O want to eventually get in with Chase and Amex but do they approve with baddies. Most baddies are 2-3 years old with perfect payment history and new accts since my rebuild. Thanks anyone for any advice.
Welcome to the MyFICO forum and congratulations on digging yourself out of the hole.
IMHO, I think you should garden at least until the secured cards become unsecured. I would also suggest not applying for any store cards or SCTs. And you really need to know your FICO scores before applying for Chase or AmX. If you go to CreditCheckTotal, it costs $1 for a 7 day trial to find out all 3 scores. Just make sure to cancel by or on day 7 or you'll be auto charged a $29.95 fee. I think, but hopefully others will chime in, you may need a score of 680 for Chase and maybe a teensy bit lower for AmX. CK scores don't count and don't put faith in models. They are marketing tools. Also, it would help your scores a lot if you can get those baddies removed. Have you tried GW letters or PFDs? Any other derogs -- BK, tax lien, etc.
GL to you.
Just an FYI...I burned,and paid Cap 1 YEARS ago. Apped for QS the other day...STILL blacklisted.
There are a ton of other cards worth having. YMMV, but you just might be on the same nasty list as I am. I'd gone on a 3 day CLI & app spree, so one more hp from Crap1 didn't hurt too bad.