New credit app suggestions

Anonymous · ‎01-22-2017

I'm rebuilding and my scores are still terrible, but I'm a planner and have been thinking about what I should apply for first when I'm in a range to start getting approved. Here's what I have:

Cap1 QS1: $470/$500, Open, I've had this card (was a Platinum) for 9 years 😱 Still at the original SL. In process of BT to my husbands new card with BT offer.

Nfcu Platinum: $7900/$9000, Closed, had for about 7 years before I had to close in agreement with NFCU for a lower interest rate. It is now back to 17.15% apr but I'm working on doing a BT shuffle from here to my husbands new card with a BT offer.

NFCU nRewards $0/$1500, Closed, also from about 7-8 years ago.

Kohls/Cap1 $0/$400, Closed. Ended up in collections but is settled now.

So, that's what I've had. I was thinking a NFCU secured card first? But I wasn't sure if maybe I should try Discover secured since I have a not so great history with NFCU?

Thanks in advance!

gdale6 · ‎01-24-2017

Im going to move this on over to the CC forum for better results.

Anonymous · ‎01-24-2017

I can relate to the OP...was in a similar situation. This is what I'd do...your circumstances might vary. Since you've not given all the details, I'm assuming your reports have baddies.

1. Go for a secure card that'd turn unsecure in 12 months - not knowing your complete report, this might be a long shot.

2. Store cards using shopping card trick. You might get a few

3. Secure card that remains secure...

4. Sub-prime predators. I'd not recommend but at this stage, Credit One could be a god...

If you could details AAoA, HPs, baddies, etc....other experienced Ficoians might be able to provide better suggestions.

Best of luck !

Anonymous · ‎01-24-2017

I honestly wouldn't worry about what to apply for at this stage as you are about 100 points away from where you need to be to get approved for solid cards.

Anonymous · ‎01-24-2017

Thanks all for the help so far! I do have baddies..

1. The settled kohls charge off (on there until 2020)
2. A medical collection account that I'm trying to PFD ($128)
3. 12 lates overall
4. A medical collection that is partially PFD.. it's gone from one but not the other two CRAs

I just paid off my QS1. I'll be making more than minimum payments on my big NFCU Platinum, but mostly I'm focusing on paying off the BTs my husband has at a low APR.

I'm hoping to apply for a nfcu secured in a couple months or after I work on my PFDs a little. It seems like that one graduates automatically.. thanks for all the suggestions Posiedon!

Anonymous · ‎01-24-2017

I would suggest working on the removal of all of those negative items and late payments. Goodwill letters can do a lot of good if you put some solid effort in. I'd suggest using the Saturation Technique which you can read about here if you are interested in what I believe is the best way to achieve GW letter success:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/The-Saturation-Technique-Best-GW-adjustment-o...

Anonymous · ‎01-27-2017

Thank you for the link! I will get started on that technique! At this point that's all I have left to do. I just finished everything else I had planned in my Rebuild Journal on the rebuild board. I wanted to update here and tell you all I applied for the nfcu secured and got approved for $500! So I'm off to the garden while my last CA replies with whether or not they will do PFD.

Chris679 · ‎01-27-2017

@Anonymous wrote:
I would suggest working on the removal of all of those negative items and late payments. Goodwill letters can do a lot of good if you put some solid effort in. I'd suggest using the Saturation Technique which you can read about here if you are interested in what I believe is the best way to achieve GW letter success:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/The-Saturation-Technique-Best-GW-adjustment-odds/td-p/4727098

Love this attack plan. I had a couple of things removed on the first try but often times you have to be persistent. Don't be afraid to change up the letter too if you aren't getting anywhere. I had to threaten to sue Midland Credit Mgmt after they kept blowing me off but it worked. Capital One told me no at least a dozen times before an email to the CEO office got results.