631 fico score, Should i apply for another Credit Card?

Discussion in 'Credit Talk' started by cg21, Sep 22, 2010.

  1. cg21

    cg21 Well-Known Member

    I cleaned up my credit a abit since may of this year, Have gotta 2 cards wit only $300 limit about 4 months ago . but my score raised about 100 pts since then. Should i try for another card now? If so, which would b best?
  2. cathyG

    cathyG Well-Known Member

    have you tried asking for a credit limit increase from your existing cards?

    good job raising your credit score 100 points!
  3. cg21

    cg21 Well-Known Member

    yea, i got a letter sayin i have to wait 13months for an increase. thats FIRST PREMIER... total Bs, but its helped my credit so i cant b mad too much. Haven't tried the other which is ORCHARD BANK, doesnt anyone know how they go about credit increase
  4. cathyG

    cathyG Well-Known Member

    your score is still considered bad to poor, so your options are limited. what i have heard about orchard bank has been typical of what you hear about most subprime cards. basically you'll have a low credit limit and maybe an increase of $100 or $200 after a year BUT it can help your credit just like your first premier card has done. so you could apply for an orchard bank card, pay the fees, have a low limit, but chalk it all up to what you need to do to raise your credit score.

    what about a secured card? if you have the money for a security deposit, that's another option you can consider. if not, give orchard bank a try and be patient, your score will keep rising.
  5. JayRizzo

    JayRizzo New Member

    Go to FinanceGlobe . com and plug in your score and see which cards are more likely to be approved in your range. Try selecting + or - 10 points around your score. Read the reviews of others and see their scores to get an idea of the approval rate. Some card holders even give you phone numbers and additional advice on getting a "denial" reconsidered and approved.
  6. cg21

    cg21 Well-Known Member

    Ok but 631 is my Transunion score but my Equifax is 571... Still confused how this happened but i went to the site u recommended and it said to add one score. should i just put 631 since its the highest? no clue what my experian fico is. But when credit cards pull ur reports do they usually base it off the Higher score? or do they add up all 3 scores and get the average? cuz if they base it off the Equifax 571 alone, i doubt ill get a Credit card.
  7. cathyG

    cathyG Well-Known Member

    they won't take the average of your three scores. they will use only one and which one they use depends on the credit card company. whether they use the lower or higher of your two scores, you're still probably only going to qualify for a "bad credit" card. so if you're going to apply for a card, support creditnet and apply through this sight! there are links at the bottom of this page or on the right side.
  8. NJTXGirl82

    NJTXGirl82 Well-Known Member

    I wouldn't do it - too many small cards all over the place can lead to a very sticky mess - you shouldn't risk it. Just stay steady with what you have and try to get those limits raised once a year.
  9. JMason

    JMason Well-Known Member

    Don't get any additional cards, just make sure your balances on the cards you do have are at 30% or less of the limit at all times. By paying them on time every month and keeping the balances at 30%, in 6 months your scores will go through the roof. But make sure you do these 2 things consistently for 6 months. Good Luck , let me know your results.
  10. Karma

    Karma Member

    3trade lines are good try for another card than stop.
  11. JMason

    JMason Well-Known Member

    Keep what you have and pay on time and keep balance at 30% of limit for 6 months. I had several clients do this and they had no scores and at the end of 6 months all 3 scores were 650. Now if you have a score already, imagine what you could have by doing the above in 6 months.
  12. cg21

    cg21 Well-Known Member

    I've had my credit cards for 7 months n to tell u the truth I've seen no score boost yet. I even dropped 7 points using em n paying em in full each month. Don't know how but long as its not 100 points right

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