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Djkringe

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advice appreciated regarding credit build
I had low 500 credit score last year. I got two secured cards. A capital one secured and a wells fargo secured. I have two medical bills a little over a year old in collections totalling $820. I have a Sprint bill in collections for $1000 that is also a little over a year old. My credit score recently went up to 630. I applied for two unsecured capital one cards and a credit one card and a walmart card and was approved for $500 each yesterday. Then I applied for discover,barclay, and chase and was declined. Rooms To Go online declined me too. I did all this applying online in less than 24 hours. I know. I got ahead of myself but I also have read that several inquiries in a short time frame simply suggests you were shopping cards for best deals. Anyway. What track should I be taking? I just upped my available credit from 500 to 2500. I think that's a plus? Should I try for something else? Should I just sit tight? What is suggested to improve and utilize what I now have? I would like to buy a house within the coming year. Advice?

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First I suggest you read every article on Credit Karma you can about building credit.  Thats what I did and from what I learned I was able to get a high 700's score within 18 months from a low 600's.

The advice you got wasn't great.  Applying for lots of cards adds lots of hard inquries which hurts your credit.  A hard inquiry takes 2 years to no longer effect your score.  An "A" in this catagory as scored by Credit Karma is having only 1-2 hard inquiries at any given time. 

If you want your score to start to pull up at this point, make sure you don't carry over a balance at the end of the month above 20% of your credit limit or below 1%, and of course stay on time with payments.

Once per year as long as you have done the above you can ask for a credit limit increase from each card company.

Make payment plans with collection companies if not already done. 

Building credit is easy and fun in a way once you learn how, just read every article you can on this site and you will find more and more tools to build and maintain excellent credit.

There may be a way to get your depts in collections once again handled by the grantor if you make a plan with them which would be better, you would need to call and ask about that.

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