NFCU SECURED WITH BADDIES ON CREDIT

[Anonymous]

My wife and I joined nfcu back in July. While her credit is hovering right under fico 600 across all bureaus. The rep advised her to get a secured card and it was also on offers online. She app and was approved with a limit of 300. She's au on majority of my cards listed below which has her scores where they are. While she has 3-4 late payments in the last 24mths and 5 collection dating back about 5yrs, should she still try to app for a unsecured card after her 3 statements or wait 6mths +. She also had an indigo card(6mths) and a installment loan(2mths) in good standings. We started working on her credit about a yr ago and she's come a long way........what advise would you suggest

[Adkins]

I would keep working on the baddies through good will deletions or keep insulating them with on time payments, and garden for at least a year. And get rid of the cards with annual fees, right before they renew. 

[Anonymous]

With score below 600 the only unsecured cards she will qualify for are more cards just like Indigo. Use the AU cards. Don’t apply for anything new until her scores hit 670. Work on the charges offs collections and other things on her report that are holding her score down.

[Anonymous]

Her nfcu hasnt reported nor the 2 cards i just recieved that shes au on so i told her to see where her scores sit after that and also with 3 statements of her secured card before she app for an unsecured after 3 statements. We are workng on her baddies and hopefully theyll be taking care of in the next few mths

[Anonymous]

Being able to app for an unsecured card after three statements does not mean she should. With her scores where they are, follow the advice upthread and continue to garden while working on the derogs. The waiting and work will be worth it in the long run, especially since with your profile, the two of you likely don’t “need” her to try apping for more right now.

[CreditInspired]

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@Anonymous wrote:

Her nfcu hasnt reported nor the 2 cards i just recieved that shes au on so i told her to see where her scores sit after that and also with 3 statements of her secured card before she app for an unsecured after 3 statements. We are workng on her baddies and hopefully theyll be taking care of in the next few mths

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I suggest DW not applying for any unsecured cards until the baddies are taken care of or she’s going to have a thin credit file with a lot of unnecessary inquiries, which will bring her acores down. 

[Anonymous]

Thanks @creditinspired. We'll continue to work the baddies and hopefully get those off her report in the next few mths