Jump to content

when is it "safe" to start applying for credit?


divinemadness
 Share

Recommended Posts

when should i start applying for credit? i tried today, with only 1 report all positive. and the other 2 im still working on. i have credit score avg 515. :-(

of course i wasnt approved for anything.

when should i start applying? im working towards getting all negatives all my report to give me a clean slate. sending goodwill letters to the creditors i paid there chargeoffs and what not.

anyone have experience to share or what not? im going to get my scores now, from fico to see if eq went up since its all positive now.

im 23 and have very limited credit history. the only positive things, are 3 loans from my credit union. all which were cosigned for cause im too young and before things went bad with my credit (i had ovarian cancer and couldnt work for many years).

the positives are:

1. pentagon federal credit union, 1st auto loan amount 3500, paid in full no late payments. opened in 2004 paid off in 2006

2. pentagon federal credit union, personal line of credit/overdraft/thrifty credit $500, closed and paid in full (the cosigner forced me to close it when i got sick), opened 2004 closed in 2005

3. current auto loan through pentagon federal again, 18,900 still owe 15000 only 1 year old.

im very confused when i should start applying for credit. the creditors that pull my good report, EQ are telling me limited credit history and length of accounts and what not...

Link to comment
Share on other sites

The quote in my sig sums it up nicely (IMO)...credit repair has two facets...fixing the old and building the new.

Sounds like you're getting a good handle on the fixing of the old...now to the building of the new: CJ (www.crownjewelers.com) does not do a credit check. They'll give yo ua $1500 line of credit...they report to EX and TU. You may want to look into a secured card of some type...perhaps @ the credit union? That's a good way to build cedit as well. I'd put in at least 500 bucks...preferably 1,000.

Link to comment
Share on other sites

The quote in my sig sums it up nicely (IMO)...credit repair has two facets...fixing the old and building the new.

Sounds like you're getting a good handle on the fixing of the old...now to the building of the new: CJ (www.crownjewelers.com) does not do a credit check. They'll give yo ua $1500 line of credit...they report to EX and TU. You may want to look into a secured card of some type...perhaps @ the credit union? That's a good way to build cedit as well. I'd put in at least 500 bucks...preferably 1,000.

Would it be a good idea to open a CJ account to drive down a utility percentage?

Link to comment
Share on other sites

ok thanks!! i applied a CJ just waiting to here from them.

i also applied for total visa, and they ask for a copy of my drivers license, social security card, and utlity bill mailed to them before they give me a card.. ill look into a secured card with pfcu. ive been a member of therese since i was born. my father made sure to open savings account when we were little. they were never used, but LOL ive been a member since!8-)

Link to comment
Share on other sites

yup - LITTLE purchases. Gas for the car once or twice a month, PIF each time.

For the CJ thing though - you only need to buy ONE thing...the TL will stay on your report like 6 months before you need to buy again. in 6 months your scores should be in the 600s, and you can then get the Sterling Trifecta. No further need for CJ.

Link to comment
Share on other sites

OK!

thanks. so no fees. got it. thats intersting too cause cap one just sent my fiance a card without him applying. it was so oodd and he stays away from cap one cause of the trouble i had with them. so we cut it up and mail it back to them and say cancel no thanks. we get a bill in the mail for 29.00 yearly fee on it.

friggin cap one.

Link to comment
Share on other sites

https://www.firstoptioncredit.com/

they good? they just sent me an email. dunno how they got my address LOL:|

A secured card with these great benefits:

- fixed rate of 19.5%

- A fee of $59 per year applies.

- $100 "processing fee"

- The grace period is zero days for both purchases and cash advances.

- For each month that there is an out-standing balance on your account the minimum is $0.50 per month.

What a joke.

Link to comment
Share on other sites

A secured card with these great benefits:

- fixed rate of 19.5%

- A fee of $59 per year applies.

- $100 "processing fee"

- The grace period is zero days for both purchases and cash advances.

- For each month that there is an out-standing balance on your account the minimum is $0.50 per month.

What a joke.

WOW!! Sign me up for 3!!

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.