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allgoodnamesgone

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I need advice on opening a store credit card...
Several years ago, I opened a credit card with Best Buy. I went through a period of being unable to pay it all off and eventually, the account went to collections. I still couldn't pay it off and after some time, it was removed from my credit report in September of 2015. The final balance was $1,912, from an original balance of $800.

In the past two years, I have been taking a very strong effort to repairing and rebuilding my credit. I have no more outstanding debts except for a couple of student loans and child support, but nothing else. I have credit lines with Fingerhut paid every month on time, as well as a Capital One card with a secured line, also paid on time. I keep low balances and my scores are doing very well, the best they've ever been.

My Credit Karma account says I should have more cards, since I only have a few accounts. It says I should have more to boost my score. So I've been thinking about reapplying for another Best Buy card, since I've decided to take my credit seriously.

What do you think the chances are that I'd be approved?

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Store brand cards tend to charge higher interest. Your goal should be to only charge what you can comfortably pay in full every month. 

Use your Capital One card, charging no more than 10% of your limit. Pay it off weekly or bi-weekly if you need to.  Start a savings account, and put money in it when you get paid. Save up for things you want.

Please read other questions and answers on this site for advice, as well as the informative articles.

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