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Hello,
I'm not sure how to add credit cards to my signature becasue I am new but I currently have 28 cards in good standings.
Below are the cards I have. I also have about 45 inquiries so it took some work. What should be the next steps for me and are there any other good cards or stategies in my future?
Capital One Quicksilver
Capital One Quicksilver
Capital One Secured
Paypal Mastercard
Paypal Credit
Fingerhut
Credit One Bank Mastercard
Credit One Bank Visa
Pc Richards Card
Synchrony Home Card
Carecredit Card
Nordstroms Store Card
Williams Sonoma Store Card
Wallmart Store card
First National Bank Credit Card
First Savings Bank Credit Card
Avant Credit Card
Kohls Store Card
Neiman Marcus Store Card
Saks FIfth Avenue Store Card
Helzberg Diamonds Store Card
TJX Store Card
Amazon Store Card
Merrick Bank Credit Card
Jareds Store Card
Zales Store Card
Moneylion Loan
Selflender Loan
What should I do next. I am blacklisted from Discover, AMEX, and probably Citi and Chase.
Would love to add to the collection or is it time to garden?
Thanks
Hi @Anonymous and welcome to the myFICO forums.
That's quite a stash you have there! You stated that "Would love to add to the collection or is it time to garden?" Personally, gardening never hurts, but we don't know a whole lot about your profile. How old are all of your accounts? Are any of those on your list from within the last 12-24 months? How about your overall scores? Are you carrying any balances on them and do you use all of them?
Yes I am getting rid of all the annual fee ones like
Credit one mastercard and visa- even though they keep giving me a year free.
first national credit card- year free.
first saving credit card-coming up in 2 months.
Avant- 6 months
I am 39 year old and I have about 35& Utilization meaning I owe like 8k.
Total overall balances is about 30k.
Most of these cards are new within the past 2 years.
My current score is about 630-640.
@Anonymous wrote:I am 39 year old and I have about 35& Utilization meaning I owe like 8k.
Total overall balances is about 30k.
Most of these cards are new within the past 2 years.
My current score is about 630-640.
Ok, just to make sure I captured your details correctly, the $8K represents 35% utilization across all of your cards? Does this include any installment loans or is that separate?
Sounds like your AAoA may be fairly short given the number of accounts that have been opened in the last year alone. However, it sounds like you have a plan to get rid of those cards that have monthly or AFs such as Credit One and the others.
I really wish I could get a loan to consolidate but I can't get approved. And the big banks wont give me another card let alone a balance transfer.
@Anonymous wrote:I really wish I could get a loan to consolidate but I can't get approved. And the big banks wont give me another card let alone a balance transfer.
Sounds like reducing some of these balances is in order, letting your current accounts grow/age and not open any others until you have a good strategy in place.
You mentioned being blacklisted with lenders like Discover, AmEx, Chase and Citi. Is this due to non-payment on previous accounts? Charge-offs? Or, were these lenders included in a bankruptcy (IIB)?
They were chargeoffs I paid.
Amex erased it and so did citi.
But they chase and citi are telling me I have too many inquiries to get a card.
If you're at 35% util, I probably wouldn't close any cards until that got knocked down some. Losing available credit could substantially increase your util.