No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I am looking to get a card or two with higher limits not sure where to start. Trying to be strategic to get a decent amount of credit started. My FICO 8 scores are
Experian 708
Trans Union 727
Equifax 704
I have a bankruptcy that was discharged 8/18. Not showing on my Equifax. I have a card with Credit one balance $92/$300, Capital one $69/300 and a jewelry credit line of $0/$5000. I have a car loan that I just got last August. I don't want to apply for the wrong card and hurt my efforts. My goal is to qualify for a mortgage once my bankruptcy is old enough but for now, looking to get some decent cards with decent limits. Any advice???
Oh yea. I also have $270,000 in student loans that I forgot to mention. Paid as agreed except a little slip up in 2017 when I thought my loans were deferred and I missed 2'payments.
Welcome @Anonymous
It takes time to get higher limits. Your in the probation area now. Future creditors will want to see some positive history since your BK. Then slowly each new approval will go up depending on who approves you. Took 2 yrs for me to get 10k from Cap1. All the rest avg around 7k over a 4 year period. Stay responsible. Apply for what you can get with someone that wasnt burned every 6 months. In time you'll get there. A year out is a tad too soon. Good luck
Thank you! I will take it slow.
You are probably good for a Discover assuming you did not burn them in your BK. It might even be okay if you did burn them, but with a lower limit. You can try their pre-qual first. When is the last time you took a hard inquiry and how old are the current accounts? That is probably the main factor for them right now. If the pre-qual comes back as pre-approved with an exact interest rate you will likely be approved. No guarantees but those are good signs. If you applied for any of the other cards less than 6 months ago, you should wait. It would help to pay ones with the same balance down and have the other one report under 10%. Once they both report, then you may get a higher starting limit than without.
Actually I am. Is that something I should definitely do? Thanks.
Okay thanks. Never burned Discover. Only Capital One. They gave me a new card with $300 limit. I did a prequal for Discover and was preapproved but I didn't look at the interest rate or amount I was scared and clicked out of it! I guess I can do it again. I only have 1 hard inquiry from when I bought my car last year. My balances are $79/300, $67/300 and $0/5000. The $5000 limit is some jewelry account that I bought a watch on and paid it off. I can pay the other two down to like $20 and then apply?
Disco is pretty solid on their pre-quals. Even if they come back with a secured. It graduates. Its a foot in the door. And you can convert it to the 5% cash back after approval. Your spread out apps looks good. I wont say go for ity and have it come back and bite me. But it seems to be a good situation. Least it isnt a Cap1 triple pull. You only live once. (Hint)