Which card should I go for? (if any)

Anonymous · ‎07-25-2015

Okay so I'm beginning the process of rebuilding my credit. I got a C1 Platinum in April and a Quicksilver in the beginning of the month, in the credit steps program.

My credit report info is:

EX

-638

-4 accts in collection

-2 years since negatives

-11 inquiries

TU

-618

-4 accts in collection

-2 years since negatives

-8 inquires

EQ

-644

-2 accts in collection

-2 years since negative

-24 inquires

So - I would like to get a third card but I'm not sure what else besides Capital 1 I could be approved for. The reason I would like to do it sooner than later is because once I have three my plan is to garden and focus on getting the negatives off my report (several will fall off within the next 6 months) and be ready to apply for a mortgage around april of next year. So having the third card now as opposed to in a few months will be advantagous because I don't want the accounts to age as much as possible and the opening to not be too close to when I go for a mortgage.

I don't really want a store card. Any feedback on what I might be able to get now? Or advice on whether I should go for it now or hold off a bit longer?

OmarGB9 · ‎07-25-2015

Honestly I would wait the 6 months for those negatives to fall off. Your scores will probably jump up dramatically at that point, giving you way better chances of being approved as well as getting better SLs and APRs.

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:

Current FICO 8 scores:

happypill · ‎07-25-2015

You might consider a secured card or possibly a store card. Some secured cards graduate after about 12 months so it could be worth the effort. The BofA secured is a popular choice. A store card can be good because if you use the SCT you can get one without an inquiry. Try to choose a place where you actually shop at if you go that route.

Anonymous · ‎07-25-2015

Agreed with My friend Omar!!

Anonymous · ‎07-25-2015

Just hang tight. If you have 2 negs that are almost dropping off maybe try one last time to get them removed to accelerate your process, and wait till Cap One accounts are 6 months to see where you are at.

If you can get down to 2 charge offs, that would help. Try the SCT for J Crew and Overstock ONLY to see if you can get 1 more trade line. You have a lot of hps so chill on them.

NRB525 · ‎07-25-2015

You can get a State Department FCU Secured credit card, for no credit check, no HP, and as little as $250 deposit in a savings account to secure it. You can add to the savings account to raise your limit, up to probably $2,500.

The main thing is, it will start your reporting on this third card, a real credit card as far as your CR is concerned, guaranteed. It won't graduate directly, but it will start building your history with no sweat to get it opened. Later you might even be able to app for a regular SDFCU card.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

SouthJamaica · ‎07-25-2015

@Anonymous wrote:
Okay so I'm beginning the process of rebuilding my credit. I got a C1 Platinum in April and a Quicksilver in the beginning of the month, in the credit steps program.

My credit report info is:

EX
-638
-4 accts in collection
-2 years since negatives
-11 inquiries

TU
-618
-4 accts in collection
-2 years since negatives
-8 inquires

EQ
-644
-2 accts in collection
-2 years since negative
-24 inquires

So - I would like to get a third card but I'm not sure what else besides Capital 1 I could be approved for. The reason I would like to do it sooner than later is because once I have three my plan is to garden and focus on getting the negatives off my report (several will fall off within the next 6 months) and be ready to apply for a mortgage around april of next year. So having the third card now as opposed to in a few months will be advantagous because I don't want the accounts to age as much as possible and the opening to not be too close to when I go for a mortgage.

I don't really want a store card. Any feedback on what I might be able to get now? Or advice on whether I should go for it now or hold off a bit longer?