Hi everyone,
Should I cancel my capital one secure card $500 that I have yet to receive (mailed out) if I just got approved for a 20k unsecured card that will drive in 3 days (they expedited it) ???
Story:
So, I’ve been reading these post for a few months now and so far all of your tips have been helping increase my credit knowledge.
I with a credit score of Experian Fico of 581 in June 2017,and I’ve worked my way up to a 609 (as of today) A lot of disputing old collection accounts and going from a 50-60% Utilization ratio to a 20% now. My boyfriend also added me as an authorized user to his chase freedom card back in October, but it’s only showing up on Transunion. Opening up the discover card gave me a 12 point boost with Experian.
Current cards:
Navy federal secure card- $404 owed out of a $1700CL (3 years 0 late payments)
Discover secure card (just got it last month already reported, THEY DID NOT DO A HARDPULL) 0% usage, $300CL - (just increased limit to $500 by adding more deposits)
Freedom card -Authorized user- $108 reported out of a $3100 CL. (Increased 2 weeks ago to $6200) only reporting on Transunion.
Pending cards:
Lord and Taylor’s $750CL - (surprisingly I got approved -1 week ago) will not report until January but started using it.
Capital one secure card $500CL (deposited $350) -this card took almost 2 months to get, it’s mailed and it has not arrived yet.
Navy Federal N rewards -Applied online 3 days ago and was shocked!! Approved for $20K and it’s already on its way.
Current scores: ex:609 Eq: 605 tU: 620
Current baddies:
as of July $2500 collection from sprint (reporting in all 3 bureaus)
$308 portfolio recovery (only on Experian, it was removed from both EQ and Transunion) from 2012
$700 portfolio recovery (only on Experian, removed from EQ and Transunion from 2012)
A lot of late payments (30-60 past due) with Exeter Finance, I’ve been current for the past 6 months (no late payments since)
Owed $18k from a 20k loan 25% interest rate, I’ve had the car for 3 years already of $535 payments. ——driving me crazy, tried to refinance a few times and my car is worth only 10K, it’s been imposible
Closes accounts:
Students loan 1k paid
Honda Finance 2011 - paid off
Charge offs:
Amex 2012 with a 1k balance
premier card 2012 with a $900 balance
Gateway one $27k 2012
Student loans: current- no delinquencies.
Being that I just got approved for a regular credit card with a 20k credit limit, should I cancel the capital one secure card and get my $350 back?
I wanted to build a new relationship with capital one since, both portfolio collections are from them.
Current inquiries:
2 Experian
1 equifax
1 transunion
Any other tips on how I can continue to rebuild?