Looking to open new card after paying off $18,000 in CC debt

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Looking to open new card after paying off $18,000 in CC debt

Postby bikerchick63 » Fri Aug 23, 2013 5:12 pm

After a rough few years, I have finally paid off 18,000 in cc debt with the help of a DMP program. Coming out of it with a 715 score. Purchased a home in March and a new bike in June. Lots of hard work. Problem is that I don't have any "open" cards; all show that they were paid in full and on time but also closed.

I need to get one good card but am not sure where to go. Thought I would ask the experts for your suggestions.

SO,any suggestions and thank you in advance!

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Postby otter » Sun Aug 25, 2013 10:14 pm

Welcome to the forum, bikerchick. Don't think I'm an expert, but I've been through the school of hard knocks...

I went through a lot of what you went through as well and I know how you feel. One of the things you have to do is teach yourself a new way of looking at credit cards. Credit cards are like a lot of things in life... if you use them in the right way, they can have lots of positive effects. If you don't- they can f___ up your life. Sort of like alcohol... one guy drinks casually, uses it to drink socially with friends, knows when enough is enough and get's the added benefit of reducing the risk of heart disease. Another guy drinks until he passes out, alienates his friends and family and gets liver disease. That's probably not the best analogy, but I think you get the basic idea... two people have the same credit card and one accumulates cash and travel rewards while the other goes bankrupt.

So where do you go from here? There are a number of good rebuilders out there such as the Capitol One Quicksilver which pays 1.5% percent back. Or you could try the Barclaycard Rewards card for good credit(I have the one for average credit and got approved for $1500). The important thing is to never use it for anything other than what you would use it for anyway and use it like a charge card.

Good luck and I hope I helped...
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

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Postby takeshi » Mon Aug 26, 2013 9:25 am

bikerchick63 wrote:Thought I would ask the experts for your suggestions.

SO,any suggestions and thank you in advance!

It's not just a matter of expertise but what you're looking for as well. What are your major spend categories? What are you looking for from a card?

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