I have recently started the journey to rebuilding my credit.
I have no credit cards and I am wanting to start applying for some but do not want too many hard inquiries on my report. I opted out last year to start the rebuilding process and realized that when I went to be pre matched for cards it was coming back with no matched due to the opt out so I have opted back in but have read that can take some time to update.
I have very little credit and in the last 30 days my credit score (through Credit Karma) has jumped 40-60 pts due to me taking out a new car loan through my local credit union for $27k at 84 mo & 6 % rate ( my first payment has not reported), my previous car loan being closed (reported), and me paying off a collection in the amount of $178 and it being reported as paid and closed on my credit report.
I have one small instalment personal loan through a finance company with a balance less than $300 and be paid off by the end of the year and it is only being reported to TU & two closed auto loans (most recent one closed in July 2015)
Total accounts:
1 open auto loan with details as above (first payment not reporting yet)
1 open instalment loan ($300 balance only being reported to TU)
2 closed auto loans (one reporting 2/30 day late payments)
1 closed and paid collection
1 open medical collection for $579
1 public record (ch 13 BK voluntarily discharged in Oct 2011)
My scores with Credit Karma are 598(TU) 597 (EQ) and my free PLUS score with Experian was 701 pulled today. I do understand these are not true FICOs. When I applied for my most recent car loan my FICO was much higher than what Credit Karma was reporting by almost 40-50pts. So I am going to guess my FICOS are in the 600's (would this be a correct assumption) I am seeking advice on a affordable FICO score monthly monitoring service and which cards would be safe for me to apply for now with a fair chance of approval based on some of your previous experiences? Any advice would be appreciated.
