In the last 5 months that I started repairing my credit,I have established the following tradlines:FCNB visa(secure),FCNB mastercard(secure),Chevron gas card and Amex Optima(secure,but doesn't report to CB's). So,with the FCNB visa,FCNB mastercard and Chevron gas card,do I need to establish another tradeline or sit tight with what I have? I have also been working on cleaning my 3 credit reports. Which has come to a halt now,but after 3 clean-up replies each.Any advice would help.
Spiegel or a secured loan. I suggest this card because you already have the other tradelines with FCNB. I have found FCNB to be very generous. I got the spiegel card in 9/00 with $400 and now my limit is $1400 without asking for an increase. If you feel you have enough FCNB accounts(which I can understand), you might try Providian. I am surprised you havenot tried them. They are also very generous in limit increases. I think that you need 5 tradelines to establish some score boost. If you have real negatives on your report, I definitely believe this. It has worked for me. I have 13 tradelines added to my report. Sure I suffered with inquiries but now I am enjoying the benefits of having trades and paying my bills ontime each month.. Also dont rely on revolving trades alone to rebuild credit. If you have a savings account somewhere, I suggest you take out a loan using your savings account as collateral. This is an excellent way to build credit. For those of us with cars and student loans, we already have Installment accounts on our reports. But for those of you who do not, you need them. Secured bank loans are great. Make sure you take at least 6 months to pay it back so it can work for you and increase your score. That is all I can think of for now. roni
RE: Spiegel or a secured loan. I have considered Providian and Cap1,but made the decision not to get caught up in their tactics.I would consider Sterling Bank before these two banks.Spiegel, I would consider.Have a savings acc't and could do secure loan on acc't. I "only" have 2 charge-off accounts to play out.This is nothing compare to 5 months ago.
RE: Spiegel or a secured loan. well congratulations on getting your bad items removed. Two chargeoffs left is pretty good. I know Providian and Capital one have lousy tactics but they are pretty easy to beat at their own game. Capital one I really dont like, but Providian $500 instant credit line which I am sure they would approve you for is ok. I absolutely never use my providian card. I charged something back in the summer, and I have been sending them a little money each month since. Capital one has a very low annual fee, but that is about all they offer. I like the secured loan. It really makes you feel powerful, when a bank lets you walk out with their(your) money. roni
