Which card should I apply for? 654 TU / 631 EQ

[spruceGREY]

Hi. I've enjoyed reading the forums. Started rebuilding credit recently after going 10 years without any cards. I was at 520 last year, pulled my TU & EQ Ficos today here @ myFico:

TU 654

EQ 631

In the last 6 months I've signed up for 6 cards, all of which have extremely low limits.

Orchard Bank / HSBC (now Cap One) 300

Bank of America Cash Rewards 500

Credit One 300

Capital One 500 (automatic CLI after 3 months)

Capital One Cash Rewards 500

First Premiere 700

I'm not carrying balances on any of these. I pay off each month. The last card I applied for (and received) was in March.

I do have some collections on my report. 3 show up on TU, 1 on EQ. They are $300, $400, and $100 -- all over disputes with utility companies involving a bad living situation in 2006.

I know I have too many cards as it is, but these limits are pathetic. I'm looking for a serious credit card. Something with an adult limit. At least 1000, jeez! My girlfriend applied for a few cards last year and received limits of 5000 or more on each. In addition, I'll be traveling abroad for several months soon, and I would like to have the security of at least one card with a reasonable credit limit.

Any advice on what cards would be best to apply for? Or any real chance of a CLI with any of my existing cards?

Thank you very much for your help. I really appreciate it.

[pipeguy]

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@spruceGREY wrote:

@Anonymous. I've enjoyed reading the forums. Started rebuilding credit recently after going 10 years without any cards. I was at 520 last year, pulled my TU & EQ Ficos today here @ myFico:

TU 654

EQ 631

In the last 6 months I've signed up for 6 cards, all of which have extremely low limits.

Orchard Bank / HSBC (now Cap One) 300

Bank of America Cash Rewards 500

Credit One 300

Capital One 500 (automatic CLI after 3 months)

Capital One Cash Rewards 500

First Premiere 700

I'm not carrying balances on any of these. I pay off each month. The last card I applied for (and received) was in March.

I do have some collections on my report. 3 show up on TU, 1 on EQ. They are $300, $400, and $100 -- all over disputes with utility companies involving a bad living situation in 2006.

I know I have too many cards as it is, but these limits are pathetic. I'm looking for a serious credit card. Something with an adult limit. At least 1000, jeez! My girlfriend applied for a few cards last year and received limits of 5000 or more on each. In addition, I'll be traveling abroad for several months soon, and I would like to have the security of at least one card with a reasonable credit limit.

Any advice on what cards would be best to apply for? Or any real chance of a CLI with any of my existing cards?

Thank you very much for your help. I really appreciate it.

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You might try Walmart for the free FICO score and you might think about killing the First Premier (I sure would).

[-Cain-]

I would say hold off on applying for the time being. You've added so many cards in a short span, you may look like a credit risk. Small limits on most will probably keep getting you more small limit cards. I think your BofA card has the most potential to grow, just give it time, use it and make payments on time. My .02 .

[spruceGREY]

I just pulled my EX and it's 601.

[spruceGREY]

Cain: I wouldn't have a problem with that if I wasn't traveling soon. Anyway, any idea how long I should wait before applying for something else, if at all?

[-Cain-]

Have you tried AmEx and their pre-approval/card offer page? Since you PIF anyway, a charge card from them might do you well, plus it'll help get you a revolver with them down the line. Best part is checking for an offer will not result in a hard pull, only applying for the card would. I guess I had missed the part where you were going to be traveling.

[-Cain-]

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@spruceGREY wrote:

I just pulled my EX and it's 601.

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Where did you pull EX score from? It may be a FAKO score, EX FICO scores are harder to come by these days.

[spruceGREY]

I got it from the Experian site. IDK is that's FAKO or not.

[-Cain-]

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@spruceGREY wrote:

I got it from the Experian site. IDK is that's FAKO or not.

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Yes it is a FAKO, it's not used by any lenders. Your actual EX score can be substantially higher or lower, or it could be in the same range. You may want to try the AmEx site I mentioned.

[spruceGREY]

Have you tried AmEx and their pre-approval/card offer page?

I can't find it.