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So first the history: I had a foreclosure in june of 2010 (due to loss of job). I got caught in the mistake of thinking using no credit at all was a good thing. Everything in cash. Well I learned when I started researching obviously this is NOT true. I was going to be moving between states and realized my credit scores would be checked for new appartments. this began my journey.
So at that point in October I had mid 500's. I got 2 paid CO's removed from my reports and had several that were reporting wrong corrected (balances etc). That pulled me up to low 600's. I also used one of my pre-approvals from cap one for a cap one cash rewards with initial 1000 limit.
So from all that to today. I know have cap one with 2500 limit (PIF each month), my student loan continues to be on time (actually paid ahead), EQ only has an installment loan (only one the lender reports too) of 2500 left (all on time). Also shows a fully paid car loan on some of the reports. the only negative account is a discover that I settled with them so close but there is a note on the account settled for less.
I have PAID tax lein also showing that after I get my 2012 taxes back I am submitting to have removed (as per new IRS rules)
SO My scores are currently between 680 and 710. I am ready to apply for another card and I am thinking of going for the chase Freedom or possibly a store card like Macy's. My questions are: 1. should I go ahead and app now (before the paid lien is removed) or wait the 2-3 months for that to go away. 2. apply or the store card now and chase after. 3. just apply for both?
PS. I just got the CLI from cap one taking it from 1000 to 2500 I have not gotten my scores yet since that increase. All scores should be up because of it.
thanks for any input.
From what I've read here, Chase doesn't care much for recent negatives, so I would advise waiting until the lien is removed, and then apply for the Freedom first.
Good luck!
I'd forget the Macy's card, or any store card for that matter. I'd probably wait to the CLI showed on my reports, sometimes this can take several months (faster if you use it). Chase Freedom is a great card, I happen to have two.
@TimeToRecover wrote:So first the history: I had a foreclosure in june of 2010 (due to loss of job). I got caught in the mistake of thinking using no credit at all was a good thing. Everything in cash. Well I learned when I started researching obviously this is NOT true. I was going to be moving between states and realized my credit scores would be checked for new appartments. this began my journey.
So at that point in October I had mid 500's. I got 2 paid CO's removed from my reports and had several that were reporting wrong corrected (balances etc). That pulled me up to low 600's. I also used one of my pre-approvals from cap one for a cap one cash rewards with initial 1000 limit.
So from all that to today. I know have cap one with 2500 limit (PIF each month), my student loan continues to be on time (actually paid ahead), EQ only has an installment loan (only one the lender reports too) of 2500 left (all on time). Also shows a fully paid car loan on some of the reports. the only negative account is a discover that I settled with them so close but there is a note on the account settled for less.
I have PAID tax lein also showing that after I get my 2012 taxes back I am submitting to have removed (as per new IRS rules)
SO My scores are currently between 680 and 710. I am ready to apply for another card and I am thinking of going for the chase Freedom or possibly a store card like Macy's. My questions are: 1. should I go ahead and app now (before the paid lien is removed) or wait the 2-3 months for that to go away. 2. apply or the store card now and chase after. 3. just apply for both?
PS. I just got the CLI from cap one taking it from 1000 to 2500 I have not gotten my scores yet since that increase. All scores should be up because of it.
thanks for any input.
I would wait to apply for both AFTER the lien has been removed.
Thanks for the input.
The lien though is not really "recent" it was PIF back in june of 2010.
But yes I will take yalls advice and wait until it is removed to move forward!
@TimeToRecover wrote:Thanks for the input.
The lien though is not really "recent" it was PIF back in june of 2010.
But yes I will take yalls advice and wait until it is removed to move forward!
You'll be happy you chose this road.
@TimeToRecover wrote:Thanks for the input.
The lien though is not really "recent" it was PIF back in june of 2010.
But yes I will take yalls advice and wait until it is removed to move forward!
If its a federal tax lien do a search for the fresh start program to get that paid lien removed from your file...good luck
@TimeToRecover wrote:Thanks for the input.
The lien though is not really "recent" it was PIF back in june of 2010.
But yes I will take yalls advice and wait until it is removed to move forward!
Good advice given...you will be happy you waited.
MyJourney:
yes that is what I am doing. I have filled out the form and printed it. But my research says they have to verify you don't owe any taxes so I am waiting till i get my return back for 2012 as then I know they will have processed my return. I will then mail my forms in and wait.
@TimeToRecover wrote:MyJourney:
yes that is what I am doing. I have filled out the form and printed it. But my research says they have to verify you don't owe any taxes so I am waiting till i get my return back for 2012 as then I know they will have processed my return. I will then mail my forms in and wait.
Outstanding and BTW welcome to the forum