Rebuilding my Credit. What is my next move?

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morgacj2004
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Rebuilding my Credit. What is my next move?

Postby morgacj2004 » Tue Jun 09, 2015 2:34 pm

This is my first post however I have been following this forum for a long time now and have used many of the suggestions to raise my credit scores. I am now hovering around the 680 mark FICO and 700 mark Credit Karma. I have listed my CC below. I recently applied for the Chase Sapphire Preferred Card and the Barclay World Advantage Plus MC. I was turned down by Barclay for short credit hx and by Chase for having a BK (3 yrs ago). I carry no balances on any of my CC and my oldest credit acct is 15+years. Hshld income is 100k. Any suggestions?









Capital One Venture-20k; Barclays Rewards-5k; Discover-$700; Kohls-$700. Authorized user on Cap One Quicksilver 3k and Cap One Platinum 2k.


MemberSince99
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Re: Rebuilding my Credit. What is my next move?

Postby MemberSince99 » Wed Jun 10, 2015 8:14 am

Just responsibly use what you have. You don't list any goals like "I want to get an Amex card" for example, so if you are just looking for suggestions about getting the Chase and Barclay card you app'd for and were declined for, then just keep doing what you are doing now. Not much you can do to get more credit history anyway to be honest especially now that backdated Amex cards are no longer an option, and you will just have to live with that BK for a while as far as Chase goes. You might find it easier to get in with them applying for Freedom as opposed to CSP down the road. Check their prequalify site periodically as well and if you see something go for it.

That's all I got. No magic bullet here sad to say.

morgacj2004
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Re: Rebuilding my Credit. What is my next move?

Postby morgacj2004 » Wed Jun 10, 2015 12:00 pm

Actually my goal is to get either the Chase Sapphire Preferred or the Barclay world MC. Then I will add my wife as an authorized user and she will apply for the other card and add me as an authorized user.

morgacj2004
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Re: Rebuilding my Credit. What is my next move?

Postby morgacj2004 » Tue Jun 16, 2015 3:18 pm

So I contacted the CHASE recon line and was told to wait 6 months to a year before re-applying as they wanted to see my newer re-established accts (since the BK) age. I will re-apply next year. I called the BARCLAY recon line regarding a Barclay reward card. After a lengthy conversation with the Rep I was approved with a 5 k limit for the Barclay World Advantage Plus MC.! I was shocked as I had never even asked about that product. I was hoping to eventually get this card or the CHASE Sapphire card.

JonE
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Re: Rebuilding my Credit. What is my next move?

Postby JonE » Wed Jun 17, 2015 6:01 pm

CSP is a signature card, I'd give that a year or so. Barclays maybe six months? Don't really deal with them so don't know what they're like.
Wallet: Chase Freedom, Discover IT
Chopping Block: Synchrony
Future: TBD

Vermonster
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Re: Rebuilding my Credit. What is my next move?

Postby Vermonster » Thu Jun 18, 2015 1:41 pm

You might have read elsewhere, but you should try for a Freedom before a CSP. The lowest limit on a Freedom is $500 and on a CSP it is $5,000. I think Chase would be far more likely to approve you for a Freedom post BK. Then you can show them great payment history for a while, and maybe you'll even get a prequal offer. Chase is known to have an internal score that differs from your FICO.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

morgacj2004
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Re: Rebuilding my Credit. What is my next move?

Postby morgacj2004 » Thu Jun 18, 2015 6:32 pm

I actually tried both and then recon. CSR would not approve for Freedom stating that BK was not old enough and I had not established a long enough payment hx with my new accts since BK was d/c in 2012



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