Kevin86475391 wrote:It sounds like you have made a lot of progress in only 6 months time. Way to go!
I absolutely think it is time to open a second card. In fact I think it's the optimal time. It may be a bit early, but I think I'd go for a Chase Freedom if I were you. Although, I'm not the best to ask about travel cards in general since I do zero traveling, and admittedly that card isn't geared to travel, but I think it's a really solid card and will help you get a foot in the door with Chase. I know they do have other travel-oriented cards such as the Sapphire Preferred - which it would definitely be too early to apply for - and the Southwest Airlines card - no idea what the requirements are on that.
Kevin86475391 wrote:Regarding both the derogatory remarks and the age of credit, unfortunately those are both things that are only going to get better with time. I assume the unpaid bills are now paid though and aren't in collections? If so you could try writing a good will letter to get them removed. You wouldn't be out anything if they said no, but at least you only have a couple more years on them regardless.
The longer you can wait to get the business loan the better since it will give your new account(s) time to age and lessen the effects of the derogs.
ingramjuan wrote:Looks like things are moving in the right direction and I defiantly can relate to your current situation. For a travel card suggestion there is a lot out there. When it came time for me to make the same decision and based on where I lived (major airport hub) it made since for me to have Delta card with American Express. The card works for me and fit my needs.
Suggest waiting a little longer on the business loans and get everything else cleaned up on your CR.
Elijahmex wrote:The unpaid bill was taken care of about 5-6 years ago. Who are you suggesting I write to in order get that removed from my credit report? That sounds like a good idea.
Vermonster wrote:Elijahmex wrote:The unpaid bill was taken care of about 5-6 years ago. Who are you suggesting I write to in order get that removed from my credit report? That sounds like a good idea.
You should leave it alone. It is almost off your report, I believe it stops having an impact at year 7, and completely falls off at year 10. There is a very, very small chance that you can get it removed.
Vermonster wrote:You should make sure to get your reports from Experian and Equifax too. If there is a derog on them you need to deal with it on all 3.
I would wait on doing anything until you deal with this derog. It will be really, really hard to do much of anything until this is fixed. Plus you should be in much better shape after it is cleared up and you would hate to have a secured card at that point.