Where to go from here card wise?

[Anonymous]

Hi all, I hope everyone is staying safe and sane! I posted earlier in the start of the year regarding credit score as I was needing more information to get a car loan. Luckily I was able to get all of that before the madness happened. But on to my point.

What can I do or where do I go to better my credit. I was doing well and paying down and am still trying but must admit that since COVID I ended up being more focused on saving. I am wondering though should I get more credit. Currently I have two cards in use one a Capital One Quicksilver and then a Sephora VISA store card. These are the only cards I have kept since struggling with credit and nearly 6 to 7 years ago getting under and sent to creditors. I also currently pay on a Discover that’s line was turned off due to late payments, it never went to creditors but I’ve been paying pretty low payments on it until these past two months. I do have it down to around $800.00. My goal was to have that paid before a new (to me) car but life happened and I needed a car asap! 

I was happy to be approved for a car loan and was able to get a good rate with a local credit union. However, I still feel like my score isn’t where it should be at the moment. I know I made mistakes in the past and some of my lates and a credit should be coming off in 2021. I do know right now that my debt is pretty high too but once I get my Discover paid off and Sephora VISA paid off (which I hope to do by the end of the year) I will definitely look better. Right now my Quicksilver holds the highest amount and I am refraining from using that unless necessary. I was hoping for some work reimbursements but not sure when that will happen to pay that off more. 

When I check in Experian I am pre approved for a Credit One American Express, a Capital One Platinum and not much else other than some random ones. I would love to get back in with Discover in time if they would allow. I feel like before covid hit, I was getting decent mail offers for a few cards and then a lot of store cards. However, a few months ago, I decided to apply for the Target Red since I was ordering so much online and I got declined and it showed my score at 618…50+ points lower then what Experian and other sources show currently, although it was higher than that earlier in the year when car shopping. I was bit bummed because I really thought I was getting up there in getting better cards. 

I guess my rambling is, should I try to get a Credit One (avoided them for so long!) or try for another capital one or wait it out and see if Discover ever wants me again? I’m guessing they wouldn’t want me now (it has been over 3 years since shut off). Should I wait and really focus on paying down and then try for better cards? I just need some thoughts or advice. Thanks for anyone still listening! 

[RSX]

I would wait on apping for more cards until Jan.

If you get the 2 paid off that you have now, and wait another month for the scores to update, you will be able to get a better card and a better starting CL

[BmoreBull]

Where are you getting your scores from? Experian? I would do the free trial and check all 3 scores. Then cancel before your 7 days is up. Also, those pre quals on Experian are usually marketing. If you want to check Amex or Cap One, go directly to their site and do the prequal. It won't hard pull you unless you actually apply. Also, what's your utilization look like? Sounds like it's pretty high. If you can get your utilization down to at least 28.9% on your two cards, you should see a see a score increase. Then work on getting them down to under 10%. Good luck. 

[OmarGB9]

I would hold off until that Discover is paid off or at least paid down some more along with paying down those two open cards. Also, Discover won't let you back in until they are paid in full.

[Anonymous]

Thank you all for your help! I had a feeling. I pulled my scores from the three sites reporting but I haven't had the membership since last year when I was really tracking everything. I know I've really let my balance get high since I've been putting a lot in to savings so I will have to get back to fixing that issue. After I had everything go in to collections, I then just basically stopped with credit, no apps, no nothing for ANYTHING. I kept my Cap One (which I still have) that stayed at $500 for forever. With ups and down of being at zero or a high balance. I never went down the road of getting cards to build my credit so I just didn't know if I needed to do that or I can make it with the ones I have left. I hadn't applied for anything until my car in March, so it was YEARS.I couldn't pass up the Sephora Offer (which does have good benefits), I just got side tracked with not paying it in full lately. 

Thanks again!