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Close and Garden? Or do I app?

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aloush11
Regular Contributor

Close and Garden? Or do I app?

Hello fellow credit enthusiasts! Smiley Happy 

 

It's been a long time since I've been on but I'm glad to be back! 

 

I had some life events in 2016 that put a financial strain on me and ultimately took my credit along with it. Since then I started working on cleaning things up and have made huge strides. I did file for Chapter 13 BK but voluntarily Dismissed it before it was certified by the Judge. More details below.   I now need some advice on how to proceed with some of the starter cards that I feel like I have outgrown like the Capital One QS/QS1. Should I app for anything else? Start Gardening? I was recently approved using the soft pull with BB&T Visa card @ $4500.

 

Fico Score 8

Experian - 693 (as of today)

Equifax - 657 (will be higher once Nordstrom shows as paid)

Transunion - 694 (per Denied Apple Card application) 

Public Records:

Bankruptcy Chapter 13 - filed 11/2016 but voluntarily DISMISSED (not discharged) before it was certified in 09/2017. 

Inquires:

Experian - 17 (2 inquires on 5/22 for discover IT and Secured) both denied

Equifax - 6

TransUnion - 10

 

AAoA:

6.5 Years

Utilization:

6% but can be paid down to zero

Auto Loan:

Ford Credit - opened 07/2019 No lates

Student Loans:

20K in Federal Student Loans - No lates - not being paid yet
Recent Apps:

Apple Card - 5/22 - Recently Late (Nordstroms CO was just paid)

Discover Unsecured - 5/22 - Bankruptcy

Discover Secured - 5/22 - Bankruptcy - Tried to recon but no luck

BB&T Visa - 5/23 - Approved @ 19.24% and $4500 limit. 

 

Settled Accounts: 

CreditorSettlement Date
Nordstrom05/2020
Navy Federal CC07/2019
Navy Federal CC07/2019
Navy Federal CC07/2019
Navy Federal CC07/2019
Navy Federal LOC07/2019
Credit First Firestone07/2019
Best Buy - Citi - PIF07/2019
Macy's - PIF07/2019
Capital One10/2019
Capital One10/2019
Barclays 

10/2019 

 

Here is everything since rebuilding...

 

CreditorOpenedLimitBalanceStatusType
Target11/201521000OpenOwner
Capital One - QS102/20197500OpenOwner
Capital One - QS07/20195000OpenOwner
Capital One - Wal-Mart MC01/202030000OpenOwner
Mission Lane08/201911005OpenOwner
Indigo4/20193000ClosedOwner
First Premier01/201813250ClosedOwner
First Premier04/201910000ClosedOwner
Credit One03/20196000ClosedOwner
Amazon04/202021000OpenOwner
Sam's Club04/20206000OpenOwner
Parkside CU - Visa09/201910K4500OpenOwner
Parkside CU - LOC1/201650000OpenOwner
Chase11/201933K0OpenAuthorized User
Citi12/200728K0OpenAuthorized User
Amex01/2014Open (highest balance 14.5k)325OpenAuthorized User
BB&T - Visa5/2020 - Not reporting yet45000OpenOwner

 

Thanks and I look forward to your thoughts! 

Message 1 of 8
7 REPLIES 7
Kforce
Valued Contributor

Re: Close and Garden? Or do I app?

Close abd Garden

Message 2 of 8
AverageJoesCredit
Legendary Contributor

Re: Close and Garden? Or do I app?

Id say with a 33k Chase and 28k Citi, you are doing  just fine and can close those cards. If you dont NEED another card, just garden. 

Message 3 of 8
Citylights18
Valued Contributor

Re: Close and Garden? Or do I app?

It sounds like the OP has been opening a lot of cards for rebuild purposes and to large extent has done that.

 

You might want to comb through the perks of the cards you already have. If you don't find use for them consider a product change if you've had them over a year. If not consider closing out a couple.

 

Then try to garden a while. 6 months in the garden should do a lot for your scores. Only add cards which strengthen your earning.

Official travel point totals as of 12/26/23 (1,382,693 Total Points)
Chase Ultimate Rewards 661,525 | IHG One Rewards 144,443 | Hilton Honors 143,801 | AMEX Membership Rewards 102,729 | World of Hyatt 90,413 | Marriott Bonvoy 65,343 | Citi Thank You 62,712 | Wells Fargo Rewards 33,652 | Southwest Rapid Rewards 28,105 | United MileagePlus 13,316 | British Airways Avios 12,333 | Jet Blue TrueBlue 11,661 | NASA Platinum Rewards 1,883 | AA Advantage 1,744 | Navy Federal Rewards 792 | Delta Sky Miles 175 | Virgin Atlantic Virgin Points 100 | Lowes Business Rewards 6,992 ($69.92) | Amazon Rewards 475 ($4.75) | Discover CB 499 ($4.99)
Message 4 of 8
Citylights18
Valued Contributor

Re: Close and Garden? Or do I app?


@AverageJoesCredit wrote:

Id say with a 33k Chase and 28k Citi, you are doing  just fine and can close those cards. If you dont NEED another card, just garden. 


He's only an AU on those.

Official travel point totals as of 12/26/23 (1,382,693 Total Points)
Chase Ultimate Rewards 661,525 | IHG One Rewards 144,443 | Hilton Honors 143,801 | AMEX Membership Rewards 102,729 | World of Hyatt 90,413 | Marriott Bonvoy 65,343 | Citi Thank You 62,712 | Wells Fargo Rewards 33,652 | Southwest Rapid Rewards 28,105 | United MileagePlus 13,316 | British Airways Avios 12,333 | Jet Blue TrueBlue 11,661 | NASA Platinum Rewards 1,883 | AA Advantage 1,744 | Navy Federal Rewards 792 | Delta Sky Miles 175 | Virgin Atlantic Virgin Points 100 | Lowes Business Rewards 6,992 ($69.92) | Amazon Rewards 475 ($4.75) | Discover CB 499 ($4.99)
Message 5 of 8
aloush11
Regular Contributor

Re: Close and Garden? Or do I app?


@Citylights18 wrote:

@AverageJoesCredit wrote:

Id say with a 33k Chase and 28k Citi, you are doing  just fine and can close those cards. If you dont NEED another card, just garden. 


He's only an AU on those.


Thanks @AverageJoesCredit 
Yes but I believe those are factored into my Utilization, so I can afford to close other accounts without it impacting my score. 

Message 6 of 8
aloush11
Regular Contributor

Re: Close and Garden? Or do I app?


@Citylights18 wrote:

It sounds like the OP has been opening a lot of cards for rebuild purposes and to large extent has done that.

 

You might want to comb through the perks of the cards you already have. If you don't find use for them consider a product change if you've had them over a year. If not consider closing out a couple.

 

Then try to garden a while. 6 months in the garden should do a lot for your scores. Only add cards which strengthen your earning.


Thanks @Citylights18 . 

I tried combining the two Capital One Quick Silver/1 cards but that is still down. I also have been trying to get a CLI on both and they don't seem to budge. I think with the addition of the BB&T Spectrum Visa card that I was just approved for, I should be good on closing out the Capital One QS cards. 

Message 7 of 8
AverageJoesCredit
Legendary Contributor

Re: Close and Garden? Or do I app?


@Citylights18 wrote:

@AverageJoesCredit wrote:

Id say with a 33k Chase and 28k Citi, you are doing  just fine and can close those cards. If you dont NEED another card, just garden. 


He's only an AU on those.


Oops, didnt see the scrollover on mobile.  

Message 8 of 8
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