After almost a decade of bad credit, I finally cleared up all collections on my record. It's been a long road, but I'm happy to have made it to the next step in repairing my credit. According to CreditKarma, my Transunion score is 721 and Equifax is 672. A huge jump from low Transunion 600s about a year ago. I have 2 cards: Capital One Rewards $5k limit Capital One Platinum $2.5k limit I'm wondering what cards I should apply for next? My monthly spend is around $10,000 and I'm in the habit of paying off all balances multiple times a month to keep pace. I just applied for the AMEX Everday Credit Card and got rejected I'm thinking of calling in a reconsideration because I can prove income, assets, etc. Any suggestions here would be useful as well. Thanks in advance for the bespoke advice.
Don't open a number of new credit cards that you don't need, just to increase your available credit. This approach could backfire and actually lower your credit score. Open only what you need. Don't open a lot of new accounts too rapidly. Rapid account buildup can look risky. As to suggestions for credit cards, how about the Discover It.
Good plan on adding to your portfolio. You should have at least 3 revolving open lines. CK is a FAKO, not a FICO score. It's worthless. Could be a few points, could be over 100 points off from your FICO. Case-in-point, a 672 with no negative accounts is extremely low especially if your utilization is very low. DCU is good for EQ FICO Barclay is good for TU and there are lots others... You may need to recon whomever you apply with, simply because of your thin file.
Am trying to build my credit but i have too much inquiries on my report , which secured card company dont pull you credit
You're not being rejected for a CC because of inquiries. Any secured card that does not pull credit will never graduate. Unless you are okay with that, coupled with a card like OS that points to credit/past credit problem, you are best to look elsewhere. Without knowing your credit profile we cannot make any suggestions.
Every company needs to pull a credit report, legally; to comply with the identity verification requirements of the Patriot Act. If they can't verify who you are by your credit report, they can't extend credit, because of the possibility of funding terrorism.
Which means that you are applying for credit to many places that are pulling your credit file possibly around the same time. Remember that sometimes when your credit file is pulled, especially multiple times in a short time, your score drops a few points...nothing major tho, they're looking for the more important factors (i.e. payment history, debt amount, etc). As for a secured card, do you have a credit union account? That's a great start!
