What should I app for? Gone from 592 to a 680

[Anonymous]

Been lurking for a while trying to learn.  I went from a 592 to a 680 (today) so says quizzle.  Its only been since April or May since I started applying and getting some credit....

I have a truck loan

A Capital One with a $500 limit

A HSBC Discover (yeah) with a $400 limit

A Mobil Gas card with $300

A Household with $400

and A Kohls card good for $300.

Its been 6 months  since I started and have 6 months of good payment history on the cards with no lates, a 2005 charge off, and a couple of judgements from 2005 when my divorce went through.

What should I app for to get myself out of toy card world?  I haven't apped in a while.  Or should I ask for CLI?  I'm not looking to get a house or car loan any time soon. Its more of a way to open some credit lines for options should I need them.

[LTomBerry]

Go for a card that has the possibility of growing with you. BofA or USAA will probably approve you for a couple thousand with your score but will CLI later on to a 5 digit limit once your score is well into the 700 range.

[CS800]

Any BOA card. Your CL will depend on your score and income. I believe they pull EX

[unlucky_hove]

Im not real familiar with quizzle (I assume its a FAKO) but I would recommend that you purchase your FICO score from this site to learn what your score really is. I was successful this week in getting an account with Discover with a 668 FICO, a CO from 2005, and two paid collections showing. Everyones experience will be different though. If you are a member of a credit union that will also be a place to get a CC with a generous line.

[Anonymous]

So BOA Denied....

but.

I logged into my Paypal account and tried for Smart Connect and got a $800 credit limit through GEMB.  Thats better than I ever did before.

and

I decided to hit the Amex card...and got approved for a Gold Card.  

BTW The quizzle is Experian score.  Its a nice website at best and really helped me get my mind around the items that were on my credit.

[Walt_K]

---

@wiseassoffice wrote:

So BOA Denied....

but.

I logged into my Paypal account and tried for Smart Connect and got a $800 credit limit through GEMB.  Thats better than I ever did before.

and

I decided to hit the Amex card...and got approved for a Gold Card.  

BTW The quizzle is Experian score.  Its a nice website at best and really helped me get my mind around the items that were on my credit.

---

It is a score based on your Experian report, but it is not a FICO score.  That is what the other poster was referring to.  You cannot purchase your Experian FICO score.  You can get it from a lender, or you can get it if you are a member of PSECU (credit union for PA residents [used to be able to join by donating to a park or something like that]). 

 If you want an idea of what your FICO scores are, which is what most lenders will view, you can get your EQ FICO here.  Scorewatch usually has a 10 day free trial so you can get your EQ FICO for free.  You can also get your TU FICO here, but it is an older version called TU98.  A lot of mortgage lenders are now using TU04.  Not sure which version of TU credit cards are looking at.

[LTomBerry]

---

@wiseassoffice wrote:

So BOA Denied....

but.

I logged into my Paypal account and tried for Smart Connect and got a $800 credit limit through GEMB.  Thats better than I ever did before.

and

I decided to hit the Amex card...and got approved for a Gold Card.  

BTW The quizzle is Experian score.  Its a nice website at best and really helped me get my mind around the items that were on my credit.

---

Bummer on BofA but congrats on the other two. AmEx is a good company to have a foot in the door with because they will backdate any future cards to this opening date. I would caution you on opening up any more cards in the near future. The toy limits will not help your util all that much, the inquiries are there and the new accounts will take a toll on your AAoA. Let them age up for a while and you'll be in the prime score zone soon enough.

[Anonymous]

Well the way I see it is I am walking up the ladder.  Right now I have no need for a car or home loan.  I just bought a new truck but put the loan in my wife's name as she has slightly better credit.  That stung that I couldn't just walk in a dealership and buy a car.  Why because I had stayed away from credit cards.  So I plan on playing this game for the next couple of years so when I replace this vehicle I don't

I started with the toy cards Cap1 and HSBC but frankly I'm starting to have pretty good luck with CLIs.  I was suprised the other day when I went into my Exxon Mobil card and saw a $1800 credit line and got approved for the Amex Gold. 

I really wish I hadn't signed up for the SmartConnect from Paypal.  It isn't linked with a card just an account.  Although that was a $800 limit.  I haven't really used ebay in a while, I don't know maybe I'll use it.  It's also confusing.

Eventually I will kill the HSBC/Household cards if they don't CLI.  Its only been since May that I started.  I get excited when I get approved but then I realize that whatever I spend I have to pay off at the end of the month and realize I only made a new place to find a bill.

[Anonymous]

Hey wise,

Welcome - glad you're here!

Congrats on your hard work!  It's a great time to reward yourself and rest the app finger - put some age on your newly acquired cards. 

If you get a chance, try the Scorewatch (free ten day trial)  for a real FICO score.  It comes with some great info on your individual report, what is helping and hurting your FICO score, and a simulator that helps you know how various actions (like apping for a new card, or getting a new car loan) will impact your true FICO score.  It was the most helpful thing, by far, when I was learning about how I could improve my FICO score for the long run.  The problem with some sites that have fako scores accompanying your reports is that the information and recommendations that go along with those scores are often, uh, not in keeping with what you should do to build a FICO score.  And since lenders see FICO scores, not quizzle scores, it's good to know what your lenders see.  One of the problems folks run into is that fako scores don't even follow the same trends or patterns as FICO scores.  A fako can go up or down, a little or a lot, when a FICO score goes up.  Or down.  And following fako advice can, and often does, damage FICO scores.  But I've got to admit that sometimes a pretty website is alluring, even though the info can be misleading.

There's also a great "Education" tab up above that's loaded with helpful info - and of course, all the great folks that post here on the community forums.  They're awesome!

Congrats again on your hard work!