I need some advice and suggestions please on what to do next. I have been reestablishing for the last 2 years. I have no baddies as they have all fallen off. I am trying to get my score over 750. I know right now I need to pay down two of my accounts as they are at 40% mark. This is what I've got going on currently Discvr More. $5500 / 00. 10/12 Cap1/RmStr. $3100 / $1300 04/11 Wbbnk/Fngrht. $1200 / $97. 02/11 Cap1/BestBuy. $500 / $385. 08/11 Comnty/LBrynt. $400 / $55. 02/11 Cap 1.securd $300 / $200. 07/10 TU 679. EQ 680. Fico The Best Buy and Room Store are 0% but the cap1 secured is not. I was thinking of paying off and closing it since they are so bad on cli AND since I just got my first prime card with discover. I appd for amex gold and barclays for average credit on the same day as the discover and was turned down. Im waiting on the letters to tell me why. On the discover I got a message to send in a utility bill which I did and then called the cs. My address is not the same on cr since I just moved 3 months ago. Bam approved Im going to recon amex and barclays as soon as I get letters. What should my next move be?? I would like a chase card and an amex but I don't want to get turned down. I now have 3 inquiries and don't want to rack those up either. I really would like another credit card that is not a store card but I don't know if im applying out of my league or what is a good one to apply for. Please advice and suggestions! ! Thank you in advance.
Starting Score: 585bump
My opinion would be to do what's best for your personal finances first. For example, you mentioned closing cards with annual fees. I would also focus on paying down balances, which will ironically help improve chances with any new apps too.
Gardening has proven very successful for a lot of people on this forum. The easiest way to improve scores for many has been to let accounts age, continue perfect payment history, and apply very strategically for new cards.
For example, your AAoA is somewhere north of 2 years, but can improve to over 3 years if you stop applying for new cards. You also likely have mutliple inquiries on each report, which lower scores some (approximately 5 points for each inquiry, although specifics aren't known).
In summary:
- Items hurting you: Utilization, AAoA, Inquiries
- Ways to fix it: Garden, pay down balances
- Next steps: App strategically sometime in late 2013 and I bet your scores will be at least over 700 (assuming continued perfect payment history). Also, enjoy your new Discover!
Sorry if this wasn't the answer you were looking for. But given that you have established positive payment history, I don't think FICO-wise you need any new cards.
Wow! You sound like my Barclay's denial letter. Yeah I think you are right, garden and then next year try again with lots less utilization. Thank you for responding!
Chase freedom... balance transfer your balances 
FICO 8: 
Goal: Gardening!
Goal: Gardening!
@firstladyd wrote:
Wow! You sound like my Barclay's denial letter. Yeah I think you are right, garden and then next year try again with lots less utilization. Thank you for responding!
HEHE! Well, I'm just trying to help you the best I know how, and it sounds like they want your business but you don't currently fit their profile for one reason or another.
I wish you luck with building credit. But honestly, it should go pretty smoothly given the huge limit on your Discover. You could charge a new living room to that card and still have enough left over to handle daily expenses.
Wal mart discover or Sam's club discover... both are good. But... OP really doesn't need either of those. If she shops at amazon; chase amazon is a very nice card. 3% on amazon; 2% on gas; restaurants; and drugstores; 1% everything else
FICO 8:
Goal: Gardening!
Goal: Gardening!
@webhopper wrote:
Chase freedom... balance transfer your balances
Chase slate is better for balance transfers
