Trying to get a Card in my own name...

[Jennifer331]

Hello everyone, I am new to the threads, but not new to Myfico.  I have been trying to rebuild my credit for some time now.  I currently don't have any open cards besides the two cards that I am listed as an AU.  Both cards are paid as agreed and have never been late. 

I recently paid off a charged off account with Capital One and I am waiting for it to update through the bureaus.  I have also just recently paid off a collection account with T-mobile (thanks to my sister).  My total credit length is 6 years, but I never had any credit limits over $1500.  I am looking to get a new card in my own name to start with the rebuilding process.

Can anyone lend me some good advice on how to proceed.

EQ Fico 515 (8/2011)

Transunion 568 (8/2011)

Experian 538 (7/2011)

[Jennifer331]

Hello everyone, I am new to the threads, but not new to Myfico.  I have been trying to rebuild my credit for some time now.  I currently don't have any open cards besides the two cards that I am listed as an AU.  Both cards are paid as agreed and have never been late. 

I recently paid off a charged off account with Capital One and I am waiting for it to update through the bureaus.  I have also just recently paid off a collection account with T-mobile (thanks to my sister).  My total credit length is 6 years, but I never had any credit limits over $1500.  I am looking to get a new card in my own name to start with the rebuilding process.

Can anyone lend me some good advice on how to proceed.

EQ Fico 515 (8/2011)

Transunion 568 (8/2011)

Experian 538 (7/2011)

[Switch2007]

At this point, it looks like you should let the AU accounts work for you for about 6 months or so, or even consider a Secured CC. I'd say Cap One may let you in with their Credit Steps program, but if you had a baddie with them, it may not be too promising, and not worth the inquiry. Just my opinion though.

[LIGHTNIN]

Are your scores Fako's or FICO's?

[Jennifer331]

My EQ is a Fico score.  My Transunion I pulled from Truecredit.com and the Experian from the official Experian website.

[Switch2007]

Experian uses a PLUS scoring model. Not really a true FICO. The score from Truecredit isn't very accurate either.

[Jennifer331]

So where should I get my Transunion score from, so that I know that its completely accurate?

[Booner72]

You can get a version of the TU score here but it is an outdated model.  It's a TU98 and "most" lenders use TU04 these days.  It could give you a general idea of where you sit.  You also will get all the info on what is helping/hurting your score etc. So It is probably worth the 20.00 investment, in my opinion.

You should try for an Orchard Bank credit card - It is designed to be a "rebuilder" card.

Good Luck.

[Jennifer331]

Thank you very much for the info.  I tried Orchard Bank and they are onlyoffering me a Secured Card.  Do you think that Capital One would offer me another card in the future, even though I had a chargeoff with them.

[Booner72]

I hate to say it - but have you tried First Premier?  They were the first company to give me credit after my bk - I hate them bc of their fees, but am glad I had the good history w/ them. 

[Anonymous]

I'd forget about a new card for some time.  Let the accounts you are an AU on work for you.  Unless you consider First Premier and I'll never go back to them, you don't have many options as far as an unsecured cc.  As one previous poster wrote, wait 6 months or so.