Here is my info on my rebuild and plan.
I am 51.
Have never had a CC before 1/21. I always use debit/checking to pay bills
I decided to get serious about future plans for my long time partners and my future after she was diagnosed with stage 4 cancer (lung/brain)
See i have a security system design business..(1 man show). I would travel all over the country. Sometimes i would be out of town on a job for anywhere from 2 weeks to 2 months at a time. Then her cancer diagnosis. And an aggressive treatment started( surgeries then chemotherapy/immunotherapy )
I had to change everthing to be home to care for her. Then when she felt well enough i would rush and do a small job or 2 and rush home for the next round.. Hardest 8 months ever..2018-2019... She was confirmed cancer free late 2019.and i was working to catch up from the losses .but with new plans for a new venture so i could stay close to home and enjoy more time together..so i did as much i could so as to save to start our new plan.. I was on month 2 out of town work. Save about 50k and Covid hit.. All plans put on pause kind of.. But i started to look into building my credit. Didn't know where to start except Reading and research.
Then i read about AUTHORIZED USERS. And read everthing about it i could find and more.
I showed her parents about it and how it worked...they said sure...good credit and always there for us..
So long story...short
Only and i mean only things on my report was 1 derog $617 comcast and a hard hit from care credit in may 2020
12/20 added us both as Au
capital one 3800cl
19+ yrs no lates but high useage(because of covid) but paying it down utilization 89%
Paid $483 on CapitalOne AU ACCT
1/21 went to local Credit union for a secured CC and maybe a SSL LOAN.
Was offered a $500 CC or $500 LOC
JOINT ACCT.
Took LOC $500
Opened a $2200 secured CC 12.5%
MY FICO9 EQ was 591
paid derog (less than half)
Utilization down to 81%
Went to look up on a few sites if i could pre-qualify for any cards.
Tried Discover nope...tried Amex yes 3 all Delta skymiles...i read through them and clicked the platinum card.
Good promo and. Points. It said Approved. $1700. And as i expected the higher 24%. later i checked my ex.acct it had a pre-qualify for credit one(i swore it said Capital one)
And i got approved but only $500
So now 3 CC'S and 1 Loc . paid $1000 on Au Acct.
Waiting for Feb update.
2/21 secured card and LOC showed and $1000 payment between the 2 it brought utilization down to 39%
my fico 9 jumped up nicely
Jan/21...
fico 9's were Eq 591 Tu 613 Ex 551
Feb/21....
Fico 9's. Are. Eq 669 Tu 667 Ex 655
Opened a Navy Fed Acct.
Looked at pre-qualify site..
Offered several cards. the platinum one had low APR'S i applied.
Approved
$3000 cl @ 5.99
Hard hit #4
My reports kept saying No Installment loans. Wanted to add something small and see. Could find a SSL Loan that would let me pay it down to under 9%...no more than 3 months out..so i got a $500 personal loan for 12 months from my local credit union.
Hard hit 5.
Waiting to see what new cards and utilization will do. Expext utilization around 23% and see where i am after.
Now i want to garden what i have.
I have a few things/ ways i want to go to build on what i have going now.
Amex $1700. (Daily user card...opened a savings acct to deposit into for payments want to max out early then pay. Continue to use more and 5 days before statment date stop and let all pending post.and pay before statement date..hoping for close to 200% limit usage. For next 6 months then see about CLl
Nfcu $3000 same for next 6 months
Hfcu $ 2200 same for next 6 months
Then work back around until hard hits drop off. That is my plan for my gardening period.
Any better advice is always welcomed
