- July 22, 2011 at 3:45 am #227843
Hi all! First off I want to say that I’m learning so much from these forums – thank you! I’m just starting to pay off my debts and rebuild my credit. I just got a Capital One card with a $500 CL and $39 annual fee (but it has rewards, so that’s nice!). Planning on PIF/reporting under 9% util and all that. But now I’m wondering what and when my next step should be. Here’s all the dirt:
myFICO scores: 709 TU 706 EQ ???? EX
1. Had a Chase credit card from about 2005-2010. They closed it in 2010 due to keeping a high balance. The credit limit was ~$3000. I’ve been very aggressive about paying it off in the last 6 months and will be paying off the last ~$400 TOMORROW (YESSSS!). The other thing you need to know about this was 7 months ago I had a 30 day late payment reported for this account. Only late payment on any of my accounts.
2. The only open account reporting on my credit report right now is a student loan which I have never been late on (but it is a pretty big loan, if that matters).
3. No derogs of any kind.
4. Like I said, I have a Capital One $500 CL that I just received this month. I also was approved this month for a Lane Bryant card with $100 CL.
5. Applied for a Chase Amtrak Guest Rewards card but got declined, even on the recon. CSR told me they needed to see some revolving credit lines, and wasn’t too happy with the recent late payment.
So with all this said, how long do I need to wait to see if I can be approved for a prime card? I am planning on applying for a Barclays Apple iTunes Rewards card in September, since I will be buying a new Macbook Pro then anyway (saved up the cash). Do you think it’s a good idea to app for that? If I’m approved for that, I will hold off on any more apps for a year. If I’m declined I was thinking about applying for a Citi Forward card around February 2012, but I’m not too certain I will be approved.*
Any advice on all this would be so helpful! Thanks!
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