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2cents3542

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applying for credit card with 578 score but 2 out of three items negative
I have a 578 score, however my credit history is only 10 months old & I have two negative items I collections. One is over $1000 and due to fall off around next December. Also I do have a lawyer that is trying to get them removed, I have been pretty approved for a low line of credit card, should I wait to do it or do it now while I actually need it?

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WAIT

My rule of thumb, Never apply for credit when your score is below 600.  if you do you will have cards with very low limits and very high interest.  If you have an attorney working to remove old accounts, it may cost you as much as the account balances to get them removed in attorneys fees.  

I would suggest you not apply for any credit until the negitives are removed or at least paid off.  

Your first step on the old accounts should have been a Validation letter. That could have removed the accounts because a Validation Letter requires that they prove that they have the right to collect and have the proper paper work in your file. Many times they won't and they would have to remove the account. Google it for more info and templates on how to write the letters.  Stamps for a couple of letters is a lot cheaper than an attorney and generally more effective. 

Good luck 

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