WANTING THE AMEX DELTA SKYMILES CARD, CURRENTLY LOW SCORE

[yudeology101]

Hey guys,

I have a 564EQ (FICO)/ 550EX/ 589C.Karma scores as of May 2013.  I have a number of negative accounts (all from student loans going into default) but rehabbed and i've been trying to manage my scores for the past 2.5 years. 

I currently have 7 CCs total: 3 secured & 4 unsecured- total CL from combined CCs at $3000, I have a student loan payment of $45,000 & an auto loan of $27,000. 

My UTI on all of my CCs have been in high 90%, all will be paid down to 0~6% in June.  From the Credit Bureau simulation(s), my scores should go up to: 594EQ/694FICO/590EX.  I have 12 inquiries on my report, the most recent one in April of this year. 

I've sent out GW letters to schools, and the last 2 accounts from collections should be deleted very soon. 

My questions is: 

I really want an AMEX Delta Skymiles card....so I don't know if I should apply when my score goes up in the mid 600's FICO or stay in the garden for another 6 months or so, keeping my UTI steady to under 10%.  Any thoughts?  Since I'm a newbie to this credit rebuilding and applying for new cards, I just need some input. 

I have applied last year (like in April or so) like twice and got instantly denied.

Thanks.

[LS2982]

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@yudeology101 wrote:

Hey guys,

I have a 564EQ (FICO)/ 550EX/ 589C.Karma scores as of May 2013.  I have a number of negative accounts (all from student loans going into default) but rehabbed and i've been trying to manage my scores for the past 2.5 years. 

I currently have 7 CCs total: 3 secured & 4 unsecured- total CL from combined CCs at $3000, I have a student loan payment of $45,000 & an auto loan of $27,000. 

My UTI on all of my CCs have been in high 90%, all will be paid down to 0~6% in June.  From the Credit Bureau simulation(s), my scores should go up to: 594EQ/694FICO/590EX.  I have 12 inquiries on my report, the most recent one in April of this year. 

I've sent out GW letters to schools, and the last 2 accounts from collections should be deleted very soon. 

My questions is: 

I really want an AMEX Delta Skymiles card....so I don't know if I should apply when my score goes up in the mid 600's FICO or stay in the garden for another 6 months or so, keeping my UTI steady to under 10%.  Any thoughts?  Since I'm a newbie to this credit rebuilding and applying for new cards, I just need some input. 

I have applied last year (like in April or so) like twice and got instantly denied.

Thanks.

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IMO any AMEX revolver is going to be out of the question for you until you reach 660 FICO and resolve those student loan baddies.

[09Lexie]

+1 to LS and then add 6 mos of positive history.

[yudeology101]

Thanks!  Now I have more reasons to stay low and keep gardening~!

[jamesdwi]

Work on getting your score upto 650, then AP for a charge card, PRG has AF waived for the first year, its probably the best travel card you can get, unless you travel for work and can justify the $450 AF for a platinum. It also ties in your membership year,  if you work hard you may get to 650 this year so your membership year is locked at 2012, then in January or february you can AP for Delta Skymiles card  and have it dated  1 or 2/2012 a free year of backdating goodness. Even if denied you will only get a SP so  no real damage.

Given your low current limits a charge card may help with your UTL as well.

[zerobacan]

Jamesdwi, dont you mean 2013?

[jamesdwi]

yeah 2013...  must need more coffee.

[myjourney]

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@09Lexie wrote:
+1 to LS and then add 6 mos of positive history.

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1+1 on LS and 09Lexie

[CreditJunkie917]

I am in the same boat as you with the student loans. I took the advice of everyone on here and plan to app for the gold prg in January. I know if I can do it, you can do it! Good luck!