Hi everyone, I decided to clean and boost my credit during next 6 months
The goal is max. total limit
My credit is pretty fresh about 1y.o
I was new and started from inquiries Lol
Couple Tj max, couple CapitalOne (probably cause I closed my debit account with them recently)
1st credit card I got approved is BofA Secured 300$ May2016
I used that card for 6 months and balance was the same 300$, score raised from 659 to 667
Then I received pre-approved offer from CreditOne with annual fee and applied Nov2016
Right after that approved for CapitalOne Journey, AMEX Blue Cash and PayPal Credit (Nov2016)
My credit was growing up and falling between 650-690
During that time also had some inquiries from CreditOne Plat and Chase Freedom
Feb2017 got pre-approved for Citi Double Cash
And finally in this month March2017 I got pre-approved for Merrick Double Balance and right after tried to get Discver It but declined
So now i got
1. BofA Secured 10mon old, 600$ limit
2. CreditOne Plat 5mon 700$
3. CapitalOne Journey 5mon 500$
4. AMEX BlueCash 5mon 500$
5. CiTi DoubleCash 1mon 700$
6. Merrick DoubleBal 0mon 1400$
+PayPal Credit 1500$ but it's not on report
Main problem is inquiries. About 5-7 on each credit bureau. I already sent letters to remove unauthorized inquiries to all banks and waiting 30day to start calling them
Now credit score is 676 TU, 691 Eq
I need advice for next steps, friends
Welcome to MyFICO
Why are they 'unauthorized ' inquiries?
You should just garden with the cards that you already have and allow them to grow. Everyone always thinks they need to keep applying for more cards to increase their credit score, when they already have plenty of cards and should just use and pay them in full and allow them to grow. This will help your accounts age, give you more positive payment history, and your credit limits will grow. All of these things will help your scores.
Other than that, if you don't have an installment loan, adding one will help your score. It's not worth adding debt you don't need though, so look at doing a share secure loan with a credit union. There are write ups on how to do this on the forum, and it will cost you very little money (a couple dollars in interest).
My guess is that you have no unauthorized inquiries. There is always soimething in the fine print when applying for credit that allows them to pull credit.
I am in agreement that you should not apply for any new credit, I would say for at least 6 months. At that point have a plan to apply for 1 new product if it is an improvement every 6-12 months. Above all, pay on time!
I agree you have enough credit cards to build on. You did good in getting an Amex, Ciri, and some Cap Ones. Your Boa is a good springboard into Boa. Credit One and Merrick i would eventually get rid of, Credit One more so as you have already got cards that most people with Credit One would love to have. Remember if you applied for credit those inquiries are legit. 5-7 hps is not that bad and if you give some time to age and geow tour new cards youll be in a much better place when going for what you really want. Best of luck on your journey
+1 Best of luck!