Advice going forward

[Chezy1025]

Hello, I have some questions about how I should proceed forward to reach my goals. I would like to have a Discover it, Chase Sapphire and Amex Blue by the end of this year.

Currently my scores are between 610-635 for all 3 with my last missed payment being over 5 years ago and 99% uti. I just paid the uti down to 40% and plan to have it down to 20% by the end of next month.

My current credit file - 

Credit union $5000 limit

Cap1 Qs1- $2,200

Cap1 Qs1 - $600

Cap1 Qs- $600

Amazon - $800

Auto loan - $10,000/$12,600

How should I proceed if I would like to get these cards, would you advise getting a secured discover or do you think I would qualify after my uti hits with the lower amount for a regular discover it? The myfico simulator predicts high 600s for all 3 with the uti paid down!

[Chezy1025]

Bump

[Chris679]

---

@Chezy1025 wrote:

Hello, I have some questions about how I should proceed forward to reach my goals. I would like to have a Discover it, Chase Sapphire and Amex Blue by the end of this year.

Currently my scores are between 610-635 for all 3 with my last missed payment being over 5 years ago and 99% uti. I just paid the uti down to 40% and plan to have it down to 20% by the end of next month.

My current credit file - 

Credit union $5000 limit

Cap1 Qs1- $2,200

Cap1 Qs1 - $600

Cap1 Qs- $600

Amazon - $800

Auto loan - $10,000/$12,600

How should I proceed if I would like to get these cards, would you advise getting a secured discover or do you think I would qualify after my uti hits with the lower amount for a regular discover it? The myfico simulator predicts high 600s for all 3 with the uti paid down!

---

Get all the cards PIF for two months first and leave a 1-9% balance on one of them.  I think Discover is doable for sure, should not need to go the secured route.  Amex I think is a bit more hit or miss and I'm not so sure about CSP, I would put that on the back burner if I were in your shoes.  If you have had problems in the past I think its best to rebuild at a slow and steady pace. 

[Mattopotamus]

You are probably going to see a massive jump in your scores going from 99% util to 40% and then 20%.  After that, if those are the cards you want, start with the CSP b.c the 5/24 rule even if that is not a factor at the moment.  Seriously, your scores are really going to increase

[Anonymous]

Get your utilization down <10%, PIF if possible and let low util. report for a few months. 670+ is probably a good fico for amex/discover. I would wait on the CSP until you are closer to a 700 unless you have solid AAoA.