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I need some advice ?


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Hi there,

So I have been working on my credit repair for a month or so and, thanks to all the helpful information on this site, I have been able to get a few things off my report already. thank you for your help.

here's my question...I haven't had any credit cards in 5+ years because I've been afraid of getting myself in trouble again. I now feel like I'm ready to be responsible so I started my repair by applying for a few credit cards. The thing is, it's kind of addictive and I think maybe I've opened too many accounts in short period of time. I had applied and was approved for an Orchard bank unsecured card with a $300 balance but they said I need to mail them $49 to open it.....I really don't want this card to be honest. Will it show up as "opened" if I don't send the payment to open the account or will the app approval just expire??

This is what I currently have:

Crown Jewelers 1500 (bought pair of earrings $29, will PIF this week)

CU Secured Card 500 (have not used yet)

Target 200 (I charged $30 today-will PIF this week)

Chevron 300 (not used yet)

BestBuy Mastercard 300 (not used yet)

Orchard Unsecured 300 (I'm supposed to send them $49 to open the acct)

Dillards 150 (don't know why I applied for -can I cancel or will it look bad?)

I hope I'm not getting carried away...I should take it slow huh? :idea:

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Crown Jewelers 1500 (bought pair of earrings $29, will PIF this week) This is a good account

CU Secured Card 500 (have not used yet) This is a so so accountTarget 200 (I charged $30 today-will PIF this week)

Chevron 300 (not used yet) This is a good account

BestBuy Mastercard 300 (not used yet) This is a good account

Orchard Unsecured 300 (I'm supposed to send them $49 to open the acct) This is worth the 49.00

Dillards 250 (don't know why I applied for -can I cancel or will it look bad?) This is a good account

Ok You need a mix of different kinds of accounts to raise your score.

you need store cards

You have target, dillards and best buy

You have a gas card

Chevron

You have a Mastercard, a secure card and you need orchard unsecured to balance our the CC credit

and you have a jewelry account...

I think you need to hold on an stay with what you have to let your score balance out a bit.....

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  • 2 months later...

Hello!!! Just an update and checking in to get some objective opinions on how my progress might be coming along...I began repair three months ago (September with no credit cards or anything at all) here is where I am now. I did open a few additional accounts (applying is addictive) but I am really done applying! My scores haven't moved much but I'm thinking, as was suggested to me before, that I just need to use these accounts minimally and pay off (or at least make monthly payments) on time, and just let them age...then my scores will improve??

Kay Jewelers Joint Acct 7000

Kay Jewelers 5000

Jared Jewelers 5000

JB Robinson Jewelers 5000

Crown Jewelers 1500

CU Secured Card 1000 (Increased from 500 to 1000)

Hooters Mastercard 1000

Target 500 (CLI from 200 to 500)

Chevron 300

BestBuy Mastercard 450 (CLI from 300 to 450)

Dillards 150

Macy's 300

Total Credit $27,200

My debt owed to date is:

4400 on the joint Kay card (a ring-shouldn't have done it but did!)

400 on the CU secured

250 on Bestbuy

175 on Target

All of these will be paid off by January (except Kay)...thoughts or suggestions? I just want to make sure I'm on the right track. I know the Kay thing was probably not the best move but I've been married several years now and he (we) never had the ability to buy me a ring so this was my big chance. I do love it.

Thanks everyone!!!!

Happy Holidays!:)++:)++

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I am not a credit guru, but you should be fine, I wouldn't get no more cards though, just make sure you don't over extend yourself, if you buy a 5g ring that is your pleasure, just be careful, real easy to fall behind, Good luck, It will take a bit for the scores to rise but hopefully you will reach your goals! Also on that ring pay big payments at first then a few small ones, you can experiment yourself on that! Pay off those other cards and charge small things on them... The PIF.. This is what I have read anyway

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