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Question By
GadgetMang

3 Contributions
20 People Helped
Rebuilding credit and how long should I wait to appy
Hi, I'm in process of rebuilding credit with secured credit union card ($700 limit, 2 months old) and just got a Capital One secure card ($200 limit) for what I have researched, should get an increase in credit score in 6 months with the credit union card. I plan on applying for an Amazon Prime card (unsecured store card) after the 6 months so my question is, do you think this is a good idea or should I just wait an entire year of good payment history before applying for an unsecured card?

A little more regarding my situation: I have around $5000 in medical debt that I am currently disputing with insurance, so have no plans on paying these off just to get them of my report; all other negative accounts has been paid off. According to Credit.com my score is 641 which I think is total B$, CreditKarma shows my scores as 595 TU and 599 EX---these scores seem more realistic to me and probably closer to my actual FICO score.

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Top Contributor
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If you can you should get your fico scores.  As long as you are doing everything right such as making your payments on time and not missing any payments.  Keeping your utilization low you might be able to do it in six months.  Without know your credit profile it is hard to say for sure.  Just try to keep one card reporting between 1-9% of your credit limit and the other card reporting zero and that will optimize your score.

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