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The only credit card I have is a Capital One unsecured credit card with a $1800. It started as $500 and I have been getting credit limit increases in these past 12 months.
My credit score on transunion is around 611. I only have 2 old inquiries on my reports, which will expire this year and next year. I have a $9000 student loan, which I pay every month. My problem is that I have some bad debt, which I cannot remove from my report, and my only option is to wait for it to fall off in 2018-2019. If these collection accounts were to fall off tomorrow, my credit score would jump to the 700s easily.
I don't know if I should apply for another credit card. I don't have a store card. The only revolving credit I have is my capital one account. What am I guaranteed to get approved on with my current score?
I know I will get an inquiry, but in the long run, it should be helpful. I have to wait 4 months more, before I can apply for another credit limit increase with Capital One. Who knows if they will give me another one.
If I were in your shoes and there was no real reason to get another card, I would not get another card. I'd first work on paying off the loan and use the card very minimally if at all and pay it off each month. I've heard that carrying over a small amount of debt each month (but still paying it off) helps your credit score, so you could do that After paying off the student loan. But I'm honestly not sure if that's true. Maybe someone with more knowledge can chime in on that. But if you do that, don't do more than something you can easily pay off, remembering that you are going to be charged interest.
I want to improve my score as fast as I can, right now is improving at a extremely slow rate, there is gotta be another way to work throught this credit scam system and get your score improved much faster
That is the only reason im thinking about applying for a store card or credit card, but if I get approved, my credit wont really improve much in the long run. The negative accounts need to fall off for my credit to really improve, unfortunately, there is no other way around it, but wait years.
Apply for a store card. I don't know what you're into.. clothes stores.. Home Depot. Everything stores like Walmart or Amazon? . They're all pretty easy to get if you've got decent credit. You can do it online and you'll get an instantaneous answer. But, don't max it out. Pay more than the minimum as many times as you can, and pay on time. If they refuse you, don't apply for another for a while. Those hard inquiries can make your score go down.
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