Credit card question

Anonymous · ‎09-02-2013

I just started rebuilding my credit from bad decisions about 4yrs ago. I've gone in the past 3 month from 555 to 610 and am working hard at it. Got credit with furniture strore, first progress bank and a bank secured loan. my problem now is I paid of my furniture and now only hve two lines of credit. I've applied EVERYWHERE :Target, Best buy Sears, and any store you can think of and am not approved by any one. I read that some people here have sub 600 credit and receive cards. why and what recommendations can you guys give.

Thanks in advance

missjae · ‎09-02-2013

@Anonymous wrote:
I just started rebuilding my credit from bad decisions about 4yrs ago. I've gone in the past 3 month from 555 to 610 and am working hard at it. Got credit with furniture strore, first progress bank and a bank secured loan. my problem now is I paid of my furniture and now only hve two lines of credit. I've applied EVERYWHERE :Target, Best buy Sears, and any store you can think of and am not approved by any one. I read that some people here have sub 600 credit and receive cards. why and what recommendations can you guys give.

Thanks in advance

Don't keep applying for credit. The inquiries will make things worse for you. Maybe wait for 6 months or so and give your tradelines time to age, then apply somewhere else.

myjourney · ‎09-02-2013

@Anonymous wrote:
I just started rebuilding my credit from bad decisions about 4yrs ago. I've gone in the past 3 month from 555 to 610 and am working hard at it. Got credit with furniture strore, first progress bank and a bank secured loan. my problem now is I paid of my furniture and now only hve two lines of credit. I've applied EVERYWHERE :Target, Best buy Sears, and any store you can think of and am not approved by any one. I read that some people here have sub 600 credit and receive cards. why and what recommendations can you guys give.

Thanks in advance

Welcome to the forum

First I would tell you stop applying because what you're doing is mounting INQ's ......FYI

We need more info to help.

Baddies?

AAoA?

INQ's in the last year?

What else is on CR's cars, home, sl, etc etc?

EX, EQ, TU scores?

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

Anonymous · ‎09-02-2013

Yeah I guess I just wonder how some people have sub 600 scores and receive credit. but I guess.<mod cut> ( i kid guys, its a joke)

Mod: Let's not joke about race on these forums, please. Thank you.

Anonymous · ‎09-02-2013

"Welcome to the forum

First I would tell you stop applying because what you're doing is mounting INQ's ......FYI

We need more info to help.

Baddies?

AAoA?

INQ's in the last year?

What else is on CR's cars, home, sl, etc etc?

EX, EQ, TU scores?

"Intelligence plus character--that is the goal of true education"
I will be gardening until 12/31/13 last escape 06/06/13
Bronze 7/6/2013 and going for Gold....Wooo Hooo"

Well i have about 5 bad accounts from about 4 to 8 years ago mostly cellphone and utility bills. one bank for 800. total about 3k worth of debt. (would it really help if i paid them off since they were from so long ago a couple of them are already past the 7 yr mark or about to be.

I dont know what AAoA means

Inquiries- about 6 in last 6 months

no car or home debt or anything like that

my equifax fico score is 610 up from 555 don't know my other two

i have 2 accounts open had 3 but just closed one.

Anonymous · ‎09-02-2013

@Anonymous wrote:
"Welcome to the forum
First I would tell you stop applying because what you're doing is mounting INQ's ......FYI
We need more info to help.
Baddies?
AAoA?
INQ's in the last year?
What else is on CR's cars, home, sl, etc etc?
EX, EQ, TU scores?
"Intelligence plus character--that is the goal of true education"
I will be gardening until 12/31/13 last escape 06/06/13
Bronze 7/6/2013 and going for Gold....Wooo Hooo"

Well i have about 5 bad accounts from about 4 to 8 years ago mostly cellphone and utility bills. one bank for 800. total about 3k worth of debt. (would it really help if i paid them off since they were from so long ago a couple of them are already past the 7 yr mark or about to be.
I dont know what AAoA means
Inquiries- about 6 in last 6 months
no car or home debt or anything like that
my equifax fico score is 610 up from 555 don't know my other two
i have 2 accounts open had 3 but just closed one.

Hi, and welcome to the forums!

AAoA = Average Age of Accounts.

For a list of abbreviations that are commonly used on these forums, you can take a look at this page:

http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/td-p/88458

Congratulations on the score jump; you're making good progress. 6 inqs in 6 months amounts to quite a few. I would recommend waiting another six months before applying for anything else. This will give your accounts a chance to age a bit and the effect of the inqs to fade. Your scores should continue to improve during this time. Then you can look at what cards are available that appeal to you and are within your score range. Best wishes.

Anonymous · ‎09-02-2013

oh ok yeah all my good standing ones are 3 months old and my oldest one is a negative from collector that just started contacting me after about 4 yrs and started putting negatives in my credit.

wHiTeSoL · ‎09-02-2013

@Anonymous wrote:
Yeah I guess I just wonder how some people have sub 600 scores and receive credit. but I guess.<mod cut> ( i kid guys, its a joke)

Mod: Let's not joke about race on these forums, please. Thank you.

Many people have had success with the shopping cart trick. If you need TLs this is something you want to look into. Just dont go all willy nilly and wind up with 10 new cards.

Anonymous · ‎09-02-2013

Sorry it was a joke I'm going to look up shopping cart trick because you lost me on that one

wHiTeSoL · ‎09-02-2013

http://ficoforums.myfico.com/t5/Credit-Cards/List-Of-Shopping-Cart-Trick-Credit-Cards/m-p/2325199/hi...

Again, please please dont come back here afterwards with a TON of store cards. It's addicting, so just pick up the ones you will use.