Moving on

[Anonymous]

I have 4 cards, 3 of which I would like to move on from soon. I have Walmart at 475, Credit one at 275, Orchard Secured at 500, and Applied Bank Secured at 300. Orchard and Applied I've had for 13 months, and Credit one and Walmart will be 1 year in May. My scores have increased, and eq and ex are in the low 600's and transunion is around 685. I was thinking of increasing orchard to a 1,000 dollar limit and then sometime this year try for better cards.

Does that sound good or would it be better to keep these for another year? My reasoning in increasing orchard is that I will have a higher limit than a 500 limit. My only baddies I have left are a few small collections which should fall off within the next 12 months. The other's i have taken care of with PFD's, DV's, etc. I have thought about a credit union, however, I am not a member of anything to apply. I know patience is a virtue, but I am tired of the crap cards.

[Anonymous]

Maybe u can try to find a place that pulls TU like maybe State Farm, Hooters, r Nationwide. I was in the same position as u with my EQ and EX having low scores and TU being way higher.


I read your post again and was wondering if your score were fico score? If u just got a couple of collections that will fall off in the next 12 Months it seems like your scores should be a higher.

Message Edited by l9ikjam on 03-05-2010 07:30 AM

Message Edited by l9ikjam on 03-05-2010 07:31 AM

[Anonymous]

Yeah, they are fico. My scores are lower because of recently opening accounts I assume. I have student loans, so each year, I get a new account on my credit reports. EX came from credit one's credit score, which I believe is fico.

[MsKiwi]

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@Anonymous wrote:

Yeah, they are fico. My scores are lower because of recently opening accounts I assume. I have student loans, so each year, I get a new account on my credit reports. EX came from credit one's credit score, which I believe is fico.

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Credit one is a fako score. With the exception of one CU in PA (I believe it's pecu?) the ONLY way you can get you're true ex fico is from a lender.

[Anonymous]

Well I have decided to give Applied Bank the ax. I applied for the US Bank secured card, since they have branches here. I am going to let orchard age some more before getting rid of it. I guess I'll get rid of one card at a time. I know that my credit may take a hit, but I am wanting to get in the door with a local bank which will eventually grow with me that way slowly but surely the sub-prime cards become history. Does anyone know if you can add money to increase the limit like with orchard?

[Anonymous]

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@Anonymous wrote:
Well I have decided to give Applied Bank the ax. I applied for the US Bank secured card, since they have branches here. I am going to let orchard age some more before getting rid of it. I guess I'll get rid of one card at a time. I know that my credit may take a hit, but I am wanting to get in the door with a local bank which will eventually grow with me that way slowly but surely the sub-prime cards become history.

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 The only way closing cards will cause you to "take a hit" is if you are reporting balances and your utilization goes up with the loss of available credit.  Here's a great link, if you haven't had a chance to read it yet, that helps clarify:  Closing Credit Cards

Otherwise, be mindful of the number of accounts reporting balances, and you should be fine.

Congrats on your efforts in building your credit!