Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
JF9

0 Contributions
0 People Helped
Apply for credit vs waiting? Recently had coll removed from TU and score jumped 40 pts.
Just wondering if it's better to wait a week or 2 before applying or if I can just go ahead as my score has already increased.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
41 Contributions
131 People Helped
Most Helpful Response

Your situation dictates...

Helpful to 1 out of 1 people

Why are you applying for credit? 

If you're just wanting to get a card and get the ball rolling on building your credit back up over the long haul...sure, there's no reason to wait if the collection is truly off of all three reports.  Be sure.  You don't want to apply and get turned down...that just adds another wasted inquiry and affects your score negatively.

If the credit you're talking about is a significant purchase (car, home, etc)...I'd be particularly cautious.  Those lenders likely use a different model than what you're looking at. 

If you're in this to build credit over the long haul...I'd recommend you consider the idea of getting a secured credit card...unless you're pretty confident that you'll be approved for a normal card.  A secured card is almost guaranteed to be approved, as you are providing a secured deposit to back it. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.