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Our credit scores are very similar. While it means' something, its not everything. When was your most recent baddy (assumption on my part)? Have you had any inquiries recently? I was initially declined for Chase Freedom but I recon'd and am In a 2 week wait and see situation. I was also declined for Amex Blue Cash with recon yielding the same result.
I was approved for BB&T Spectrum Rewards and NFCU Rewards. Combined SL 4500
Ideally you want 3 revolving (secured or unsecured) and 1 loan - auto, mortgage, credit builder, shared.
That is awesome on the inquiry front. I'm not sure I'd go for Chase. I've read they want to see at least 1 year of credit history. I've got slighlty over 4.5 years and I might still get denied. Plus they've already denied you - did you recon? In terms of late payments, collections, charge offs, etc - anything on your report? Have you tried prequal sites?
@Anonymous wrote:
Hello everyone I just found out about this site so I signed up So im still new this this and to credit my transunion is 658 , Equifax is 651, experian says they can not generate a score for me until I have an account for at least 6 months or more I wanted the navy federal credit union secured card but I have no military background or no one in the family that is military so I applied for a secured card with discover and was approved for $200 credit limit back in September so my question is what should I do or what cards could I be approve for to improve my credit scores to be able to get good credit cards like Amex blue cash , chase freedom, Uber credit card etc.. ?
My advice is as follows:
1. Do not apply for any more credit until your current account has reported to Experian for 6 months and you're able to get credit scores from all three bureaus.
2. You are new to credit which means your credit score should have started out at least at 670. You're currently below 670 so you need to use your Discover card and pay it promptly which will help your scores recover from the penalties for inquiries and opening a new account. That should take 3-6 months and you should wait until you hit 670 before making any other apps. You absolutely don't want to be below 670 since that means small credit limits and high interest rates.
If you are new to credit ( I am assuming you are younger than older), then time is your friend. Pay on time, keep your UTL below 28.9% (even better if you keep it under 8.9%), follow the advice of great mentors on this site and your score should grow nicely. GL!
If you understand right from the beginning that credit cards are not “free money” to buy things that you don’t have the money for yet you will have more knowledge than 85% of the people out there.
Use your cards as a convenience as opposed to carrying cash, and only buy on it what you can immediately pay off.
If you have not yet done so, start paying yourself EVERY paycheck! Build up a savings, first of 3 months worth of obligations, then build up to 6 months, and eventually a year’s worth. If you have this you have true security, and if for any reason you could not work for a year you would not be going into debt to live. GL!