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Aloha!
First, WOW...I'm in love with this site...a little overwhelmed, but loving and learning lots! I'm in the process of rebuilding my credit. We had some medical issues some years back and are finally back on our feet. My FICO scores read as follows (and I'm still learning what it all means...sorry)
EX - 603
TU - 623
EQ - Not enough info for a score (???)
I wanted to apply for a credit card, but I am deathly afraid of denial. I did get a Capital One Quicksilver, but it only had a $300 limit. I was thinking of applying for another card, but I don't want to have a neg. on my reports. Any help is greatly appreciated.
Thanks!
You have to first give some more information so people can help you better on the forum as I have learned too...
i.e. how many cards you have what are the limits, how many hard inquiries you have taken in the past year....the age of your accounts etc...read around...
From the look of your scores you should apply for a Discover It card they are very generous from my experience and the customer service is Top Notch to get you started...
Thank you for responding. A little history, I have one card with CapOne Quicksilver $300 limit received about a month ago. I have very limited credit history, at least in the last eight years or so. My husbands scores are a little lower than mine, but he has the quicksilver, Macy's ($600), Fingerhut (not sure of the limit). I'm really just getting started and to be honest I'm really nervous about applying for just anything because I know that a HP can decrease your scores. I'd like to get another major card or apply for a few store cards to at least get some history on my report, but I don't know who to apply to. Our combined income is over 200k. I've only had three inquiries in the past year.
Hope this helps...if anyone needs more info to help, I'm an open book at this point and I'm here to learn!
Mahalo!!
Look into another capital one or barclays
Welcome to the forums!
I am also somewhat new around here. Congratulations on taking the next to credit excellence. As the first replier stated, you need to provide more information so that the members can help you out. Capital One is an excellent starter for you credit rebuilding.
What bad marks do you have on your credit report? Examples include; bankruptcies, late payments, closed credit cards etc.
Do you have any major loans?
I think give it a couple of months and reevaluate then. I think the scores are too low right now for Barclays rewards. Use the Quicksilver healthily and pay it off completely and you will get handsome credit limit increases with Capital One. (Someone else might be able to speak if a 2nd capital one is good for you or not.) I just recommend gardening and each month paying attention to all of the monitoring sites to see how the progress is going each month!
CreditKarma, CreditSesame, Quizzle, etc.
Good luck! You're on the right path Gardening does wonders until you're at a great place and can app for some more cards.
As long as you do not go crazy with your applications then your score will not drop hardly if any. Use them wisely.
@hawaii5OH wrote:Thank you for responding. A little history, I have one card with CapOne Quicksilver $300 limit received about a month ago. I have very limited credit history, at least in the last eight years or so. My husbands scores are a little lower than mine, but he has the quicksilver, Macy's ($600), Fingerhut (not sure of the limit). I'm really just getting started and to be honest I'm really nervous about applying for just anything because I know that a HP can decrease your scores. I'd like to get another major card or apply for a few store cards to at least get some history on my report, but I don't know who to apply to. Our combined income is over 200k. I've only had three inquiries in the past year.
Hope this helps...if anyone needs more info to help, I'm an open book at this point and I'm here to learn!
Mahalo!!
It was already said that it will probably be hard at this point to get approved for Barclays or Chase. You did mention you would like to open up a few store cards. I would suggest if you really want to do that that you look for the sticky on here on how to do the shopping cart trick. Know that it will affect your AAoa but if done it will result a a store card or two for you without a HP. One think I would suggest also is that you look up which companies that it has worked for people with that way you actually get a card that you might find useful opposed to getting a card just for the sake of havng one.
Also mentioned about some medical. How long ago was that? And do you or your husband have a BK on your CR?
Mahalo to all who responded. I literally have been lurking on here for over a month and had to work up the nerve to post. I feel so lost sometimes...
Baddies: One medical ($1,800) is all that's left from three years ago (of over $400k....it was cancer...sucked, but all is well now...BLESSED!)
One cable bill from years ago that I just called the company on the CR about last week to see if they would do a payoff amount that was lower than the amount listed ($800) and the lady said they don't do settlements. I'd love some advice on if this is true because I was able to work out settlements and have removals from our CR's with everything else.
No BK on either report.
I have no loans on my credit, however, I am an AU on my husbands CapOne ($500 limit). He has our vehicle loans on his, which I'm sure have helped his score because we've never been late in two years.
I am not sure why my experian is higher than my TU, but it is. I'm also not sure why I don't have enough info for EQ. I'm really confused by all the differences in scoring. Especially FICO's scoring, which is higher than CK and CS (I use both). I just signed up for the credit monitoring through CapOne.
I definitely don't want to have a card just to have it and I won't open something unless it truly will be useful. I know some people do it, but I think it is kind of silly to buy something you don't really need. As I mentioned before, our income is great (over $200k), it seems to be a matter of simply getting a chance and starting over, basically. I guess I'm simply getting the guts to get back in the game and not be ashamed of what we've been through. I am very appreciative of everyone's input and I look forward to learning more and getting ourselves back on top!
@hawaii5OH wrote:Mahalo to all who responded. I literally have been lurking on here for over a month and had to work up the nerve to post. I feel so lost sometimes...
Baddies: One medical ($1,800) is all that's left from three years ago (of over $400k....it was cancer...sucked, but all is well now...BLESSED!)
One cable bill from years ago that I just called the company on the CR about last week to see if they would do a payoff amount that was lower than the amount listed ($800) and the lady said they don't do settlements. I'd love some advice on if this is true because I was able to work out settlements and have removals from our CR's with everything else.
No BK on either report.
I have no loans on my credit, however, I am an AU on my husbands CapOne ($500 limit). He has our vehicle loans on his, which I'm sure have helped his score because we've never been late in two years.
I am not sure why my experian is higher than my TU, but it is. I'm also not sure why I don't have enough info for EQ. I'm really confused by all the differences in scoring. Especially FICO's scoring, which is higher than CK and CS (I use both). I just signed up for the credit monitoring through CapOne.
I definitely don't want to have a card just to have it and I won't open something unless it truly will be useful. I know some people do it, but I think it is kind of silly to buy something you don't really need. As I mentioned before, our income is great (over $200k), it seems to be a matter of simply getting a chance and starting over, basically. I guess I'm simply getting the guts to get back in the game and not be ashamed of what we've been through. I am very appreciative of everyone's input and I look forward to learning more and getting ourselves back on top!
The FICO score is real. The CK and CS scores are absolutely worthless (for about a year CK gave me a score about 50 points lower than reality, then started giving me scores about 40 points greater than reality)..
You need to let the one card you have get 6-12 months of age. After that, try for a Barclays card, as I hear they can be reasonably accepting of baddies, provided they aren't very current.
Also, when you are about to apply, you need to optimize your credit report by getting 1 credit card to report between 1% and 9% usage, and any other report zero.
For now, just use the card you have about 10% - 20% each month, and pay off in full.