QuickSilver One Approval - First Account to Build

[orangetech]

I recently had some negatives come off my report and it left me with just 4 positive, CLOSED, accounts, none of which have had activity for years, but they are all positive. Scores are at 664 TU, 666 EQ and unscorable with EX. I did pre approval on Cap 1 site and got pre approved for Platinum mastercard and Quicksilver One, decided to go for it since I dont have any open accounts and I know that is what is hurting my EX score. Got a $500 SL, not too stoked but at least i'm in.

I also just got added a few weeks ago to 2 cards as an AU, Chase with a $7,800 limit and Citi with a $6500 limit, but neither has reported to my account yet.

Any recommendations from here?  

[Tdatb64]

Congrats!

[MissLiz]

Congratulations on your approval!

Personally, I would wait a few months for your card to report, your AU cards to report, and for EX to generate a score. In the meantime, join a credit union and begin building a banking relationship with them. Consider opening an SSL. At that point, see where you stand score wise and consider checking the prequal pages for Discover and your CU. 
Before you know it, you're credit will stand on it's own and you won't need the AU cards. 
Best of luck to you!

[orangetech]

Thanks for the info!

One of the positive closed accounts on my report is a secured installment loan from my CU, ive been a member for about 10 years. I also recently joined another local CU by opening Checking/Savings for myself and children.  Would another secured CU loan be helpful for me?

[MissLiz]

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@orangetech wrote:

Thanks for the info!

One of the positive closed accounts on my report is a secured installment loan from my CU, ive been a member for about 10 years. I also recently joined another local CU by opening Checking/Savings for myself and children.  Would another secured CU loan be helpful for me?

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Do have any OPEN installment loans reporting?

[orangetech]

I also wanted to add, my EX is currently froze and so is LEXNEX and im apping from CA. Not sure if that info is valuable to somebody else.

[orangetech]

I do not, this CAP ONE is now my only OPEN account.

[MissLiz]

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@orangetech wrote:

I do not, this CAP ONE is now my only OPEN account.

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In that case, yes. Opening an SSL loan will certainly help your scores. 

[MissLiz]

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@MissLiz wrote:

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@orangetech wrote:

I do not, this CAP ONE is now my only OPEN account.

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In that case, yes. Opening an SSL loan will certainly help your scores. 

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And, of course, getting that paid down to >9%. Have you seen the DP's on SSL's from NFCU or PenFed?

[orangetech]

I  unfortunately am not even familiar with what DP even means... can you please point me in the right direction?