@havecollectionsaccounts wrote:When I was in college, in 2005, I ended up with a Cap One credit card, Citi, and 4 department store cards. After graduating in 2008, I defaulted on everything, including my Auto loan. When I got a job, I paid everything off and closed some cards and a couple of them did a settlement. I haven't had anything negative on my credit report in over 5 years. My score is sitting at 664, I just traded in my car for a new one through Toyota financing (1.9%)! I never thought I would be that person that would have "good credit". I have a secured Visa through PNC Bank $500, and NY&Company cc at $500. I really want to increase my score, so I'm wondering if I should apply for another credit card with a higher limit, or if that would decrease my score because of recent accounts? Just want to keep the ball rolling!
Welcome to myFICO. The affect on your FICO due to a new account will vary because of AAoa, utilization and inquiry factors. Mostly, any negative affect is temporary as you pay your account as agreed. There are many cards out there, with as many different bonuses and perks. Choose one that you will actually use and benefit from, not just to get your FICO up. I would suggest Discover first and maybe a GECRB based store card. The best of luck to you.
Well, your credit score is most likely low because of the negative items on your credit reports. You should read and ask questions in the Rebuilding Your Credit area on myfico.com for assistance with that. This is the most important thing you can do now.
Yes, you need some better credit cards. The ones you have are good as starter cards to help you add good payment history to your credit reports. But they don't have good rewards, and one is a secured card. Unfortunately your Fico score is kinda low right now, and you just obtained a car loan that likely added a batch of recent credit inquiries. Those inquiries will likely be treated as one for FICO scoring purposes, but creditors might reject you if you apply for a credit card, forcing you to call them for a manual review. Thats not that big a deal, but its a consideration.
So, you need to see what you can do to remove some baddies from your report. And you should try to optimize your credit score ( read this post http://ficoforums.myfico.com/t5/Credit-Cards/How-do-I-play-the-1-9-Utilization-Game-Please-Help/m-p/... ). This might also require waiting a few months to allow your scores to rise.
The NY&Company card is issued by Comenity. You should request a credit limit increase after you have had that card for 6 months.
Then I would suggest trying to apply for the Sallie Mae Mastercard (salliemae.com) and probably the Discover IT card.
