- Green Member
- Posts: 18
- Joined: Tue Nov 20, 2012 8:54 pm
- Location: North Carolina
When I was 18, I applied for credit cards and store cards and was very irresponsible with them, along with bank accounts and other bills. While none of them were very high limits (I believe the largest was $1,000) I ended up with the majority of them in collections.
I am soon to be 25 years old, with all of the collections accounts paid off, but still showing 6 "potentially negative" items on my credit report. All with the disposition that they have been Paid and Closed, or Closed in Settlement. They are all from 2006-2009.
I have 3 cards currently, a Capital One Secured Card with a $200 limit, a Kay's Store card with a $2,000 limit, and an Old Navy Store card with a $200 limit, all of which are paid off in full. I no longer use the Kay's or Old Navy cards, but do use the Capital One and pay it off in full each month.
Here is a quick breakdown of how my credit report looks, according to Experian (not 100% sure what you're looking for so I'll add as much as I can see)
Hard Inquiry: 2
Old Acct Age: 6.7 yrs
Avg Acct Age: 3.8 yrs
I make around $25,000 a year, and unfortunately I was late on a payment with Old Navy and that was reported about 2 months ago. The last time I applied for any type of credit was about a year ago, and was a Walmart credit card and was denied.
My question is: Will it help my credit if I open a new credit card (not another store card) or should I continue using what I have and wait til the negatives fall off in the next few years? I would just hate to apply for another credit card and have my score be affected if I was denied again, is there any cards that anyone would recommend for someone with a score and history like mine?
Thanks ahead of time for your answers, I look forward to reading them!