What would be a good CC to get!!!

[solid07]

I had two bad credit CC's and I closed them and I stil have my BOA Platinum World Points that I got before my scores fell, when I get my scores back up what is another good CC to get?

[solid07]

And how many CC's should I get!!!

[haulingthescoreup]

Can you give us a bit more than this? Like what was wrong with the cards, which cards were they, why did you decide to close them, what baddies are on your reports and how long ago were they (different companies will thumbs-down you for recent late payments, collections, etc.)

Are the scores in your siggy FICO's? (vs FAKO's from TrueCredit, Experian, and so forth.)

[solid07]

The cards were 1st Premier 250 and a 300 line, I was never late on any of the cards, The reason why my scores fell is that 9 months ago a truck that I let my brother take up the payments on he paid late on a payment and my scores fell 100 points, and Im not rich but I have a six figure income and the small balances were inconveniant having to pay the cards off like every week because I like to use a cc instead of cash, Im 26 years old and my longest credit history is 4 years and I like to buy a new automobile every 12 months or so, so it is hard for my to build a long credit history my home loans is only a year old!!!

[solid07]

and yes the scores are FICO's from this site!!!

[solid07]

I think that my scores would be about 30 or 40 points higher if my revolving balances were paid up!!!

[Anonymous]

---

@solid07 wrote:

The cards were 1st Premier 250 and a 300 line, I was never late on any of the cards, The reason why my scores fell is that 9 months ago a truck that I let my brother take up the payments on he paid late on a payment and my scores fell 100 points, and Im not rich but I have a six figure income and the small balances were inconveniant having to pay the cards off like every week because I like to use a cc instead of cash, Im 26 years old and my longest credit history is 4 years and I like to buy a new automobile every 12 months or so, so it is hard for my to build a long credit history my home loans is only a year old!!!

---

What's your goal? A new car every year? Maybe you want to consider an auto-related rewards card? You mention you're carrying a balance, short history and recent lates...oh, just be prepared for anything when you app.

[haulingthescoreup]

---

@solid07 wrote:

I think that my scores would be about 30 or 40 points higher if my revolving balances were paid up!!!

---

OK, "balances" sounds like you still have more than the BofA card with balances on them. I hear you on closing the First Premie --dreadful card, and I assume that the fees were almost more that the credit limit. And whatever the "300" was as well --$300 personal line of credit, maybe?

If there are balances on the closed stuff, pay them off immediately. Since you have plenty of cash, pay off the BofA as well, but keep using it to keep them happy. You don't want them to yank it back. So use it, pay it off, use it, pay it off. In general, you never want to carry a balance on a CC. There is no point in giving other people money by paying CC interest if you can pay the card off now.

The late payment will hurt less once it's over 12 months old, and also card companies will be more likely to lend to you after that point, so this will be your research time.

You're better off than you think in terms of age. Those closed cards should stay on your history for another 10 years. The home loan is good to have, too. Once your oldest account goes over 5 years of age, you will be viewed as a more experienced credit holder.

Where do you do your banking? If there is a local credit union in your area, I would find out if they offer Visa/MC. If so, start a savings or checking account there during this interim period. (Hold off on the card, though.) CU's are usually a lot more flexible than commercial banks. They also usually give the best auto loan rates as well.

Another candidate is a Hooters MC. You have to have 2 open accounts already, so this would come after a card from the CU. There are other cards that you could get, but right now, they will probably be as bad as the First Premier, so I would focus on score improvement for now.

So pay off everything, but keep using the BofA, open a CU account, wait for the late to go over 12 months, pull your scores again, go for a CU CC in that order. You should have a good range of choices by then.

By the way, I hope that you've got the truck situation resolved --either he's on the loan papers, or you have the truck back.

[solid07]

Ok sounds good I actually have a CU account so that would be easy to get a CC from there, but I bank with three different banks including the CU, My BOA CL is only 20% used and my Yamaha Credit Line which is HSBC is $7500 but I only owe 500 but it is considered a revolving account    but basicly I need to keep the BOA CC paid off and wait untill my scores rebound and get a CU CC!!!!