Greetings, newbie, questions.

[myficomatt]

I found it right as you were replying.

Thanks!

Congratulations!

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Capital One® Platinum Max™

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Capital One®Classic Platinum card

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[myficomatt]

Also, I forgot to mention in the previous post that the debt is definitely with a collection agency. I called a while back and have actually spoken with the agency as well.

[SmartCookie]

Excellent.

The only card you want right now is that $0 AF card.  If approved... and I would say you've got a 90% chance though I would like to know your FICOs first... you will probably start out with a $300 credit line BUT you will get 'credit steps' and should be at 2k before the 1st anniversary of the card if you keep a PERFECT history with them.

The card itself probably won't ever go above a 2.5k limit but you need this for age and the doors it will open as another positive revolving TL for you when you app with other ccc's in the future.

[SmartCookie]

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myficomatt wrote:
Also, I forgot to mention in the previous post that the debt is definitely with a collection agency. I called a while back and have actually spoken with the agency as well.

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Do not speak with CAs.

Though the debt is 'with' them, this does not necessarily mean they have purchased it.  I would double check with OC no matter what OC and CA are reporting.

Message Edited by SmartCookie on 01-03-2008 02:50 PM

[myficomatt]

Here are the results. Quite varied from Truecredit. Experian was actually the lowest on their site. TransUnion 630 1/3/2008 Equifax 617 1/3/2008 Experian 659 1/3/2008

Message Edited by myficomatt on 01-03-2008 12:08 PM

[SmartCookie]

Absolutely awesome!

If you don't get approved with Cap1 I will eat a worm. 

My gameplan for you would be to:

Go ahead and apply for that $0 AF Cap1 card now and let us know the results (which should be good).

Do not even consider applying for anything else until you have made some headway with any disputes, GWs, DVs, and PFDs.

Never be late, learn how to play the UTI game and also pay down what you can.

Once Cap1 is reporting to all 3 bureaus you will now have 2 revolving TLs and can begin to apply for other new cards as needed.  Again, the more cleanup you do first... the better cards and terms you will be able to get.  It's not about getting all the cards you can... it's about getting a few really good ones.  

I would suggest that your next card after Cap1 be a good store card... meaning no AF, decent limit, discounts or other perks, and at a place you actually shop at.  After you have that 3rd card, consider dropping the Orchard card you have now if it has any fees...or seeing if they will unsecure it and the new terms will not have any fee, annual or otherwise.  You then will still have 2 rev TLs and you'll be ready to app for another and more prime card.  Hooters will probably give you a $0 AF and a good CL... $5k or more.... but you need something like a Citibank or BoA.... maybe an AMEX farther down the line.

Message Edited by SmartCookie on 01-03-2008 03:41 PM

[myficomatt]

Approved for $300!

[SmartCookie]

Congrats!!!!!!!!!!!!!!!  

I was not looking forward to eating that worm.....

You have to celebrate by reading the Credit 101 thread again though. 

I hope this is a happy start for you since there is legwork ahead... good to start with something encouraging.

Good work! 

[myficomatt]

I appreciate all of your contributions. I want to first wipe the little marks off because that's easier. After that, the large 2 chunks will be left. Do you think I should focus on the eviction or the charged-off card first?

[octavia]

Congratulation on the Cap1 CC approval!!!

Octavia.