No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hey,
I have some accounts that are set to drop off of my reports next month. Is there a rule of thumb on applying for new credit after said accounts are no longer shown on my report?
Yeah, 3 charge-offs. Paid off.
Will you have completely derogatory-free reports at that point?
Clean reports are a bit more sensitive to new accounts - so you may want to limit the number of new accounts you get at once to minimize the score impact - and be prepared to Garden for a year afterwards so the new account penalties can fade (people fail to do this part all the time tho so...).
Other than that, just research before you app. Decide if you want travel rewards, cash back, or a low apr card (or one of each), if you're willing to pay an annual fee or not (and if so, will the fee be justified or offset by the rewards), and only apply for the cards that fit your spend and will be useful long term - avoid apping for the 'flavor of the month' if you can't make long term use of it.
Also keep in mind that if you want to get back in with those same creditors whose accounts were COd, you may have to wait a long time before they'll let you back in, if ever.
Yes completely derogatory free. Just waiting on those 3 to drop off so I can really get a better picture of my report.
thank you for your time today
@Anonymous wrote:Yes completely derogatory free. Just waiting on those 3 to drop off so I can really get a better picture of my report.
thank you for your time today
Congrats on your future clean reports! Enjoy.