I was just reading the resurrected thread on things you should never do. One poster said he made a mistake by "not" applying for credit while his credit scores were in the tank. Should I apply for credit and get denied so that I can prove damages later on if necessary?
How low are you scores again? I really wouldn't recommend applying for credit you have no chance of getting approved for.
Very poor, Exp 577, tu 552, equifax 545. O.k. I'll hold off. At what number would you recommend that I apply?
At this point, I would recommend getting yourself a secured credit card, like the Capital One Secured MasterCard. Keep your credit utilization low, pay your bill in full and on time each month, and the positive payment history you build will do wonders for your FICO scores over the next 6-12 months. Remember, it's just as important to focus on building recent positive payment history as it is to clean up the old baddies on your credit reports.
