Suggestions for my next move

For just about anything you want to get off your chest about credit cards.
7 posts
SWADE23
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Suggestions for my next move

Postby SWADE23 » Thu Oct 11, 2012 9:45 am

I need some help/opinions...
looking to get my score higher...
last summer I was at 593 and paid off all my debts
I have been an authorized user on my moms card and have been using the Capital One (unsecured) and a secured credit union card properly since April 2012.
I checked FICO in august I was at 625
I had to remove myself from my moms card cause she passed away.
checked FICO again end of sept. I dropped to 615
Im bummed out...
I dont know what my next move should be...


Robrus1
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Postby Robrus1 » Thu Oct 11, 2012 10:32 pm

Were they both your mom's cards and you were an authorized user on both, or is one of the cards yours? If the secured card happens to be in your name only, and you have paid all your debts, then just be patient. Keep paying on time, pay in full, and build a positive history with the credit union. I'd wait 6 months to a year and wait for the credit union secured card to become unsecured, and then ask for a credit limit increase. If they grant you the increase, wait a few months and apply for a card you want, or check your score at that point in time. Sorry about your mom...
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

Money card
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Postby Money card » Sat Oct 20, 2012 10:50 pm

First of all I'm very sorry to hear about your mom. you metioned that you have a capital1 card correct?
have you thought about a lower level card like key bank, TD Bank, citizens bank or even a M&T bank credit card
I would have to imagiane that in queens New York you must have some local banks, how about the bank that you have a checking account with do they have credit cards?

this is what I would do I would apply for 1 of the lower level cards so then you would have 2 cards use them pay your bill in full.
then I would apply for a Discover card and an American express card 6 months later if you get the 2 prime cards
you would then have a secured credit union
a lower level card
Discover
American Express just use your cards pay your bill in full and as time goes by your score will go up.


SWADE23
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Location: QUEENS, NEW YORK

Postby SWADE23 » Tue Nov 06, 2012 4:36 pm

@money card
Thanks for the advice... Will do and let you know how it turns out... It would be nice to have an AMEX card :)

FutureBillionaire
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Postby FutureBillionaire » Tue Nov 06, 2012 5:49 pm

I recommend a secured credit card and a secured loan from a local credit union. You will see your score rise.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

SWADE23
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Location: QUEENS, NEW YORK

Postby SWADE23 » Wed Nov 07, 2012 11:55 am

hey guys...

what i have now is:

Cap 1 unsecured with a 750 limit
and a credit union secured card with a 300 limit.
as of today my fico is 634.

i keep a balance on the cap 1 only cause there is a no interest period. no balance on the other card.

@FutureBillionaire - i was thinking of a secured loan from the credit union for a couple g's. only reason would be to show i can pay back larger amounts. but i wasnt sure if that would be a good move...

randeman
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Postby randeman » Thu Nov 08, 2012 7:46 am

If you apply for Amex with a low(er) credit score, you should look for a charge card, like the regular green card, rather than, say, a gold SkyMiles card. For whatever reason I understand the charge cards are easier to get than the credit cards. Just be aware that with their charge cards you pay the balance in full every month. You might be able to get the green card with a 634 score, but if it were me, I'd wait six months before I applied. And don't apply for anything else in the interim.
Cards and Credit lines Acquired:

Escape by Discover (7.75K), Barclay Holland America Visa (7K), Macy's store card (7K), Bloomingdale's store card (2.6K), Citi Custom Credit Line (3.5K), PayPal Smart Connect credit line (2.7K), Chase Freedom Visa (5K), Chase United MileagePlus Visa (5K), Chase Sapphire Preferred Visa (6K), Amazon store card (2.2K), Lord & Taylor store card (550), Nordstrom store card (1500), Gold Delta SkyMiles from American Express (3K), Discover It (6.5K), PayPal Credit Line (1K).



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