I am banning my self, from apping for anything until July 2014.. My BK Discharges on the 26th this month... I have a 300 dollar orchard card.. and I was approved for a 49 dollar deposit secured capital 1 card.. I had to send in address/ssn verification due to fraud alerts.. I am not going to app for 24 months so ALL inquires will be long gone and I will have build 24 months of positive tradelines..
Do you think these two cards will be good enough for 2 years of building? I am going to PIF orchard card 5-20 dollars a month and keep the secured card at 0 but I am gonna increase the limit about 50/month.
Anyone have any input? When my check systems gets clear, I am going to join san diego credit union and just save money.. I wont app for a secured loan/card with them unless they soft pull.. I have probably 20 inquires on ex/eq and 7 on tu.. Yeah way overboard.. before I became credit smart.. All I am gonna do in the 2 year time frame is build a relationship with a credit union, increase my secured cap one limit and pif orchard card. I am gonna also make sure everything is accurately reporting on my reports and also try to use the hippa method for medical collections that are IIB on ex.
Bumpety Bump before it disapears.
You WANT a balance to report on the cards, but a small balance <10%. If you leave it with a 0 balance, there is no payment history. You won't be showing you can manage credit...
Other than that, I can't say much... I have one secured card, capital one, and my mid score is now a 673.... High score is 684. It is my only trade line and I haven't had a derog since 2007, also have 9 inquires... 5 for mortgage, 1 for capital one, and 3 others from last summer when I was trying to get some trade lines open. Been open since Sept of last year and I increased my limit to $350.
Wow, well after my BK discharges and I get all the IIB accounts to report correctly and get the rest of my med collections deleted off ex I should be good.. I need to pay down my cc right now.. But I was in dire need to use the card for work clothes :/..
I think I am gonna marinate and buy my TU and EQ scores in sept or early october.. Well see the outcome then!
I cannot wait until the Journey of Credit repair is over and I am just gardening!
I'm scheduled to close on a house at the end of June, and I have 3 old medical collections ($2400, $285, and $389) that are set to fall off my reports within a year. After that, I'll be gardening and knowing I'm almost there feels really good! And honestly, the only thing that helped to raise my score was the secured card. I was paying everything on time but had nothing reporting as far as trade lines... I wish I hadn't waited as long as I did to get one.