Just paid off credit card default - what next?

4 Posts

Hi all,
I've finally paid off a credit card default and the account has been partially settled. My credit score is obviously not great especially as I have two of these defaults aroundthe same time end 2018/beginning 2019.
I want to start building my credit. I'm a much wiser person now in my mid 30s and better with money. Is it wise to apply now for a credit building credit card straight away and pay it IN FULL every month now my debt accounts have been settled? Or do I wait? I don't want a hard search rejection on my file!
I've finally paid off a credit card default and the account has been partially settled. My credit score is obviously not great especially as I have two of these defaults aroundthe same time end 2018/beginning 2019.
I want to start building my credit. I'm a much wiser person now in my mid 30s and better with money. Is it wise to apply now for a credit building credit card straight away and pay it IN FULL every month now my debt accounts have been settled? Or do I wait? I don't want a hard search rejection on my file!
0
Latest MSE News and Guides
Replies
You could apply now or later. Set up a DD for full payment. And ignore your credit score as it has no meaning in terms of your credit worthiness.
The idea is to continually build good history, as the bad history gets older. Getting a card is the easiest way of building history.
Remember also that you don't need to wait until 6 years to get a mortgage.