Looking to add a CC

Breakthecycle2 · ‎01-08-2018

Because Im in the process of rebuilding, I have two currently. Credit One with a $650 limit and I just got approved for an Express store card for $500. My scores are:

Experian 604

Equifax 593

TU 630.

Only CC balance is $91.

Starting Score: 454
Current Score: 690
Goal Score: 750

Take the FICO Fitness Challenge

Anonymous · ‎01-08-2018

A balance of $91 on your $650 card is too high -- 14%. You want one (and only one) card reporting a balance less than 8.9% but greater than $0 to maximize FICO scoring per the AZEO Method (see my 11 rules signature link).

FICO likes a minimum of 3 credit cards, so I would highly recommend the Discover IT Secured card -- go to their prequalification page and see if they'll qualify you, then send them $200 to open it and $100-$200 per month more to increase the limit up to $2500. This card typically graduates 7 months after opening and they refund your deposit.

If you don't have any installment loans open and reporting, consider a small secured loan from a credit union or from SelfLender -- this can boost your scores as well.

Breakthecycle2 · ‎01-08-2018

I forgot to mention that I'm an AU on a card thats still reporting, with a limit of $5k.

Starting Score: 454
Current Score: 690
Goal Score: 750

Take the FICO Fitness Challenge

mysterythemoon · ‎01-08-2018

Discover It and Capital One Platinum are both great ideas. The Credit One card you have is a very preditory card and not something you'll want in your wallet once you get your scores going in the right direction.

Started on July 4th, 2016 with 400's FAKO scores, no FICO, a dozen baddies and no credit of any kind.

As of March 2018, Before The Fall:
AmEx Blue Cash Everyday: $12,600
Chase Sapphire Preferred: $10,000
Bank Of America BankAmericard: $6,000
Capital One Quicksilver One: $5,500
Citi Diamond Preferred: $5,400
NFCU Cash Rewards Visa Signature: $5,100
NFCU Go Rewards MasterCard World: $5,000
Wells Fargo Propel: $3,500
Barclay's Uber Visa: $2,500
AmEx Starwood Preferred Guest: $2,000
Citi Double Cash: $1,500
AmEx Hilton Honors: $1,000
Discover It: $600
Capital One Platinum: $500

TOTAL 2018 CREDIT LINE: $61,200

JUNE 2023 UPDATE
2020: COVID toppled me. All old accounts went into default. Business lost. Car repossessed.
2021: Cap1 let me back in (one secured/two not). Secured Mission Lane. AU on AMEX Gold, Citi Premier and Chase Sapphire. Car loan approved without cosigner for $20,000. All current.
Currently: No lawsuits. Thinking most SOL have expired on CC debt. Fingers crossed my math and memory are correct.

CURRENT SITUATION:
Mission Lane Secured: $3,400 (SL $400 -- unasked for CLI)
Capital One Secured: $300
Capital One QS1: $300
Capital One Savor: $1,000
Chase Sapphire Preferred: $10,000 (AU)
AMEX Gold: No Preset Limit (AU)
Citi Premier: $8,500 (AU)

SPRING 2026
ALL BADDIES DROP