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2 1/2 years ago, I filed bankruptcy and it has since, of course, been discharged.:) I have since semi-successfully re-built my credit. I have a Capital One card with $500 credit line, a Merrick Bank Visa with a $1250 credit line, a JCPenney with $500, WalMart with $600, Fingerhut with $700, and a Texaco/Chevron card with $400,and an Express card with $350. What is the best way to get a major credit card with a higher credit limit on it. Can someone tell me about the AMEX/Optima Credit Card...??? Or other department store cards. When I keep a very low balance on the cards my Vantage score goes up higher.

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Bluntly, what you've done is jumped back into the sucker pool. Close all those cards, except the Merrick VISA.

If you haven't already, do your checking with a major bank (one you didn't BK) and after 6-8 months, get a card thru them.

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Looks like your jumping right into the fire and bypassing the pan

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I looked at it as a way to re-build my credit since my bankruptcy/chapter 7 discharge in April of 2010. Each and every one of them is reporting as current and paid on time and zero balance or close to zero balance, excpet the Wal-Mart card, but that is being paid on time.:)

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This thread has 5 stars and is no help at all.

I have one cc and I just need 2 more to help rebuild my credit and am always looking for places to apply for. I check out Crown Jewelers but I don't need or want their overpriced jewelry. No one else will give me a cc, except for my Capitol one card.

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I just applied for the NFL Extra Points Credit Card and got approved for $500instantly.

Previously I had only a Capital One Secured Card with a $1050 balance, which was opened in July. My FICO scores are currently TU 667/EQ 636 and EX is 616. My Credit Karma FAKO is 601.

It's apparently an easy card to get, and according to reviews I've seen the initial Credit Line go as high as $2500.

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I just applied for the NFL Extra Points Credit Card and got approved for $500instantly.

Previously I had only a Capital One Secured Card with a $1050 balance, which was opened in July. My FICO scores are currently TU 667/EQ 636 and EX is 616. My Credit Karma FAKO is 601.

It's apparently an easy card to get, and according to reviews I've seen the initial Credit Line go as high as $2500.

THANK YOU SO MUCH. I just got approved for $500 with only a 590 score. Now I have two open accounts.

Edited by Been_Ponzied

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THANK YOU SO MUCH. I just got approved for $500 with only a 590 score. Now I have two open accounts.

I will still help you fight when you post later how they are suing you. Just saying "once biten twice shy"

I haven't had credit in a long time and it doesn't affect me much now. You can get by without it much better than with it. If you use it responsibly your score will go up and make you at higher risk for Identity theft or other things. After all the things you have seen that happened here and you still want that little plastic devils access card? We all love you though.

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When i applied with a credit union for an auto finance app at 1.9% credit i was denied credit becoz i had a 650 score. The reason they gave me was that i did not have any current auto loans or utilization going on with any other credits. (i do not have mortgage nor do i have an auto loan) and with other collections/chargeoffs its just very difficult to get another auto loan

 

So best thing is to know you have open credit lines with utilization and have installment payment/ revolving credits or paying on credit cards or auto loans right now just so you can obtain a credit card.

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There are like 17 different FICO scoring models.  It sounds like your credit union was basin their decesion on the FICO Bank Card score (which does include "utilization"...i.e., how much money the CCs can expect to make from you).  The FICO New Car score depends more on how you've handled previous car loans.  If you've never had a car loan before, expect to pay 8-10% interest.

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There are like 17 different FICO scoring models.  It sounds like your credit union was basin their decesion on the FICO Bank Card score (which does include "utilization"...i.e., how much money the CCs can expect to make from you).  The FICO New Car score depends more on how you've handled previous car loans.  If you've never had a car loan before, expect to pay 8-10% interest.

and if you had a first car loan starting in 2005 and ending with on time payments in 2009 but never other car loan after 2009 what can be expected?

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You should be able to get a car loan...assuming there are no current defaults or judgements on your CRs.  You just will have to pay higher interest.  

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I would say NFL is easy to get. Got it in February this year ($500) when TransUnion score was 602, EQ below 600. Score went up, in June received Cap1 offer, accepted it. They gave $300. Have 2 cc now. Spending $10-20 per month on each card, paying everything off, so there is no % to pay, but still there is some movement on cards.

In November 2012 EQ was 512, now after 8 months EQ is around 630.

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@energizer - you are not doing yourself any favors running around applying for a lot of cards.  Inquiries can also tank scores.  

 

@janette - nice going!

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@admin @ janette

 

Janette, i got rejected for nflextra points (barclays) so thats out, amazon i did three months ago thats out & merrick + applied bank left? Inquiries?

Im waiting to find out who is on merrick(which CRA) and Applied Bank?

 

Once i know i want it applied & done!!!!! then 2 year freeze on app

 

Credit cards r like a box of chocolates , you never know what you gonna get (whose gonna approve u)

 

lol

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@energizer, I think you should work more on your credit report. Mine was reaaaaly bad (512), I did few small things, and score went up quickly. I still have 2 very bad accounts, which hopefully will be removed by end of this year. I don't like having 2 credit cards, felt better without any. Don't apply for cards anymore, for me it was  -10 points for 1 hard inquiry. Accounts out of SOL - try to remove them. In SOL - wait. Or pay to original creditor ( i'm not sure how this works..).

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@janette

 

Very good advice except time has been my enemy so far. I started opening two secured credit cards today (Merrick ($250) , USAA secure($500) &  OneSky Crap1($250-for Wife with no tradelines whatsoever). I plan on applying for one more secure card & just freeze until atleast a year.

 

Meanwhile, I was at 535 with Equifax & realized if i didn't apply for credit at all anywhere that i would boost my score (610) . So i have pretty much set june/july30th as all and every card i absolutely want to apply for & then forget ever applying for atleast 1 & half year. Also, paying off lot of balances on my credit cards will boost scores too.

 

I have Sallie Mae 120 days late i am having trouble removing? u think goodwill letter will work?

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You really only need 1 cc for personal use, all the others are extras. After you got 1 cc stay with that one for at least 1 year as your account age and more on time payments are there your scores go up. Also too much baddies ain't good, and a 120 day late is huge for the first 2 years after that as it ages is not as bad. If you got many collections you not only get penalized for the collection itself but also for the abundance so the 120 late might not even matter under these circumstances, every cr is different so it depends on what baddies you got and what good ones you got, your sucker score for cc depends a lot on cc utilization, on time payments and to a lesser degree age of accounts (closed and open), the baddies get the score down and depending on how bad your baddies are how down your score goes. Amazon store card is an easy one so if you didn't got approve for that one, stick with whatever you got for 1-2 years before trying any other cc, and when you get a new one cancel the old ones, it might not be great for your score but it is for your debt, the fewer cc the less likely you'll max them, and even if you do it's just 1 cc, that's my philosophy 1 cc and maybe 1 store card, no more.

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@kutuzov  Agreed.  I've got two...one with a $1500 limit that I use for online shopping and the like (I pay it off in full each month, so the only fee they get from me is the yearly fee) and a second with a $14k limit where I bank (that one is only for dire emergencies and it has a $0 balance),

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Student loan balances are less than $600 on three different tradelines with one tradeline requiring only $2 payment, yet has 120 days late from more than 2 years ago. If when paid off will improve scores i think. As of now its deferred & paid as agreed so not exactly excited to pay it off.  Im a USAA member and feel they have a secured card against a Certificate of Deposit (CD) for however limit you want & feel that to be a good idea to have. Merrick secured card just got started.

How far into collections do you have to be before it stops affecting scores. I mean if you had first time reported collection in May 2010 and they stopped reporting/updating May 2012 does that affect scores? I have atleast 3 CA's like that all stopped reporting in 2012 but were placed on my credit report since 2010.

Does the OC stop reporting to CRA's mean anything. Citi has stopped reporting since oct 2012. (I mean monthly reporting). I just have KOHLs with $300 limit (not a credit card); CONN's(2 accts) which are paying as agreed and two tradelines GE Money Bank (for furniture) already paid off and zero balance paying as agreed.

 

Have to get rid of all the baddies (collections) to make a significant difference in scores while holding back stringently to not apply for any more credit. Just applied for Auto Loan yesterday- got denied- again!!!!!!!!da**

Current baddies r

a) T-Mob-Midland- Collection -$1235-got offer at 50% settlement-countered25%
B) Convergent-$100- 1 CRA got deleted-Other CRA -Still remain-updated
c) Pro-Collect-$ 94-1CRA-got deleted-Other CRA-still remain;last reporting May 2010.

d) SCS-$10700 on behalf of US Bank-reporting wrong DOFD-working to delete it
e)2ndRound-$14700 on behalf of AMEX-falling off Jan2014.

 

Chargeoffs still remaining

Crap1 DOFD-May 2008
Crap1 DOFD-June 2008
CitiExxon- DOFD-Nov-2011
CitiShell-DOFD-Dec2011
US Bank-DOFD-April 2008.

 

7 Accounts in good standing including 1 car loan- mostly closed first tradeline opened June 1988.

 

So where in comes Utilization? have only KOHL's $300 card that i can charge. anything else is installment.

Maybe after having these secure cards utilization may change and may do good for scores.

Debt to available credit is SIGNIFCANTLY HIGH becoz crap1/citi do not show transferred/sold. balance 0.

 

I feel its still Manageable not worthy of bankruptcy!!!!!

 

So Kutuzov I have just one store card (KOHLs) and no other credit card!!! its just what i need; and  u can see it in my desperation. its the urges i get of maybe getting an unsecure card that i keep asking around so much where to go to get one unsecure credit card. Once i get it, thats a relief. done & over with.

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