I always recommend go to cap one pre-qualifier.Cap one is great for building/rebuilding and they report to the three cb's.GOOD LUCK...
I’ve been reading that having 3 open revolving accounts is ideal to build credit.
I have 2 secured cards and am authorized user on my fiancé’s Discover with 9k limit. Will that count as 3 or should I open one more under my name? I’m starting to get pre-qual stuff in mail for unsecured cards
Whos the secured with and whats your scores so we can lead you in the right direction. Welcome to the forums BTW.
I can’t go cap 1, they are one of my charge offs .
I have a Citi secured MC
A secured visa through my credit union
My scores are
TU - 608
Thank you for any and all advice / input
Axl86 - Is the CO paid? Cap1 is very forgiving, I know personally. You should try the pre-approval page & check. The QS1 is a great starter card with decent cash back.
Personally, I would probably add another card if it was non secured, or is sure to graduate. However, I would not view it as super urgent, and I would be selective. Cards like Discover, or "useful retail" like Amazon and Target would be good options. I would not add the typical AF rebuilder. Meaning, If the prequalifications are Credit One or First Premier, I would not go that route.
Without adding a card, and depending on your other profile items, you may find scores improved in 2-3 months.
The main thing I’m worried about is the AAoA and getting another Hard Inquiry. Not sure if I should get the third one while I still have a young AAoA and then start gardening or just leave it with the two I have and the AU account. Both my secured cards are under 6 months old. The AU account is like 7 years old.
You'll be fine when you add the third card. I would add it when both of cards in your name are about six months old.
If you did not burn discover, your scores may be in the range they will approve by that time.
One way not to get HP is to go with Open Sky visa. It's not a keeper card, but it's a decent card to start with.
Merrick has decent secured card, and if you wait 6 months, you might be eligible for their unsecured card
I messed up my credit long time ago because I was dumb and lazy, no other reason. I would forget to mail checks and ended up with bunch of lates. It all fell off naturally over time, but I did not want anything to do with credit.
My accounts were primarily AU accounts with the exception of few loans.
So, when my family situation changed, all those accounts had to go. I had to start from the scratch.
That's why it's really good not to rely on AU accounts. It's great you have one, but in so many ways, you have no control over it. They can end up with derogs, relationships change, utilization can spike and you may need to have it removed. In a nushell, it's a cherry on top of the cake, but you still need your own cake
Good luck with your rebuild!