Hello, I have an Orchard Secured card with a 200.00 limit. Will this help rebuild my credit, or does 200.00 not really do anything? This is the only positive TL that I have on my report. I have an old Cap1 CO for 1200.00 that should go away soon, and I have an average FICO of around 615 around the board. I can't really seem to get approved for anything at the moment. I don't think I have very bad credit? I noticed that the Cap1 CO was "updated" in 2005.. But, it was charged off in 2000. Is this one of their tricks to make it stay on longer?
When the Cap One acct drops off, your score might drop as well, despite any negative marks on the acct, due to its age.
The above is true. You may consider applying for an HSBC Union Plus, Merrick products, or Barclay's. Also, Macy's and some GE Money products such as Walmart and Lowes may work. They may approve you. In addition, is this 615 a FICO score or something otherwise?
The 615 is a real "FICO" score. I thought it was an 'ok' score, but it seems I can't get much of anything.
It's not too bad, are there any derogatories? You should be able to get some half-way decent offers absent huge derogatories. Some of the above that I mentioned may work. You may also consider some, dare I say it, seasoned tradelines to inflate your scores. These still apply and will countinue to do so until at "least" some point in 2008. That is when the other two credit reporting agencies are set to "review" the FICO 08' Model. That is also presuming no one seeks declaratory relief or a TRO to preclude the "test" credit reporting agency from implementing the aforesaid model in September.
