Should I apply or wait?

Discussion in 'Credit Talk' started by Shirley, May 16, 2001.

  1. Shirley

    Shirley Well-Known Member

    I went through a bad spell in the early '90s and had about 8 cc delinquent. Everything seems to have fallen off my credit report except for one item which is scheduled to be removed in December of this year. It's Gulf State and appears on all three of my reports. My experian report has 2 inquiries from Gulf as well from 1999.

    I mailed a validation letter to a CA about a month ago regarding a bill they say I owe but appears nowhere on my credit report and is from at the very latest 1993. They haven't answered yet and it's just about 30 days from the date they signed for it.

    There is a notation on both TU and Experian regarding a car that was in my name but belonged to my ex-husband. TU says it's delinquent but closed with a zero balance and Experian says: Status: Paid/Past Due 30 days.

    This car was paid off in '95 and signed over to my ex the day the title arrived in the mail.

    I would like to re-establish credit and wonder if I should apply for a cc now, or wait until December when the Gulf thing falls off the report. I'm sure I should wait patiently but it's hard not to at least try for a Macy's card or something.

    My Equifax report will be totally blank come December when GS falls as will my TU report. Experian has the GS listed as Transferred and also lists three old credit cards that I had in the '80s as Inactive/Never Late, so come December there will still be cards listed but all dormant.

    Thanks for any suggestions.
  2. river

    river Well-Known Member

    I would start re-establishing.If there is a Macy's in your area,give it a shot.I would try Citibank also.I would decide what cards have the best interest rates and grace period.What negative info you have left on reports are old enough that it shouldn't have much influence on your scoring.Get as much info as you can about a particular card you are interested in applying for.This board can offer value info. Wouldn't bother with the sub-prime cards and stay away from Capital One and Providian. Start by applying for one card and wait to see results before applying for others because too many inquiries will damper your score.Good luck and welcome to board.

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