topic Re: where to go from here?! in Credit Cards

where to go from here?!

Learning_Tee0225 — Thu, 03 May 2012 19:25:13 GMT

So here I am 5 months later on my credit journey and im not really sure where to go from here or what to do next. Currently I have 1 Secured credit card through Navy Federal 500$ credit limit-Active pymnts on time balance of 60$ ATM.. 1. I've managed to open 2 additional CC's for a total of 3 With Orchard Bank on April 18 Gold Mastercard 300$CL ( i had called to see if they'd match my Current CC w/ NFCU @ 500$ the CS said to wait till i got the card and then call back..does that sound correct? as of today i still havent recieved the card but they've takin the processing fee out of my account..strange..is that normal 2.Apped for a 3rd CC w/ NFCU Monday (4-30) happy to be approved for there Cash Rewards card as my first card w/ them is a secured CC but it was approved for the same amount as my Secured CC @ 500$ Really looking to get a higher CL maybe a 1,000 was thinking of calling back to see if its possible but thought id stop here first and ask..what do you guys think? do i stand a chance? Lastly what should the next step be..should i app for more CC or just let the ones i currently have age a bit..

Re: where to go from here?!

espnjunkie — Thu, 03 May 2012 19:52:07 GMT

If it is a secured card you should be able to call and mention you are willing to make a larger deposit so that your credit limit can be 1,000.00

Re: where to go from here?!

rootpooty — Thu, 03 May 2012 19:54:36 GMT

how long have you had credit? how long have you had your secured card from navy federal? did you get a pre approval offer in the my offers section when you apped for the cash rewards card? is your 573 eq score current? if so thats prob why they gave you such a low limit. you need to chill with the apps for now and just wait a year and see where you stand. can you give us a rundown on your credit profile. whats on your tu and eq?

Re: where to go from here?!

rootpooty — Thu, 03 May 2012 19:56:47 GMT

espnjunkie wrote:
If it is a secured card you should be able to call and mention you are willing to make a larger deposit so that your credit limit can be 1,000.00

i think the op is talking about the new cash rewards card he got from navy federal. the op does have a secured nrewards card with navy also. i believe the op wants the limit on the cash rewards card to be 1000

Re: where to go from here?!

tinuviel — Thu, 03 May 2012 20:00:34 GMT

Learning_Tee0225 wrote:
So here I am 5 months later on my credit journey and im not really sure where to go from here or what to do next. Currently I have 1 Secured credit card through Navy Federal 500$ credit limit-Active pymnts on time balance of 60$ ATM.. 1. I've managed to open 2 additional CC's for a total of 3 With Orchard Bank on April 18 Gold Mastercard 300$CL ( i had called to see if they'd match my Current CC w/ NFCU @ 500$ the CS said to wait till i got the card and then call back..does that sound correct? as of today i still havent recieved the card but they've takin the processing fee out of my account..strange..is that normal 2.Apped for a 3rd CC w/ NFCU Monday (4-30) happy to be approved for there Cash Rewards card as my first card w/ them is a secured CC but it was approved for the same amount as my Secured CC @ 500$ Really looking to get a higher CL maybe a 1,000 was thinking of calling back to see if its possible but thought id stop here first and ask..what do you guys think? do i stand a chance? Lastly what should the next step be..should i app for more CC or just let the ones i currently have age a bit..

If I'm counting correctly, it appears that you've opened 4 accounts within the last 6 months. I would urge you to sit back and allow everything to age for at least a year. Building credit is a marathon, not a sprint. You've laid the groundwork, now let time do its job.

Re: where to go from here?!

espnjunkie — Thu, 03 May 2012 20:02:20 GMT

The OP will want to garden and try to boost those scores up first. Asking for a cli with subprime scores is not likely to work

Re: where to go from here?!

Learning_Tee0225 — Thu, 03 May 2012 21:27:10 GMT

@ rootpooty

Im very new to credit i apparently have had a file for 8 yrs i guess but only with an auto loan and debt(collections) i am just now starting to use credit cards my first being the Secured from NFCU.. and my Eq score is current as of 4/2012 my TU is 639 both scores from myfico

Re: where to go from here?!

Learning_Tee0225 — Thu, 03 May 2012 21:30:55 GMT

Tinuviel

Sigh..this is what i should do i know i just need patience! :smileyembarrassed: and its a total of 3..which i am content with just would like a little higher CL..but beggers cant be choosy eh?

Re: where to go from here?!

oracles — Thu, 03 May 2012 21:31:32 GMT

I would start to get some of those collections off your report with PFDs. (if you havent already)

Re: where to go from here?!

Learning_Tee0225 — Thu, 03 May 2012 21:40:29 GMT

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/27-amp-Learning-about-credit-the-hard-way/td-p/1338999

this is what the picture of my credit looks ive recently been able to eliminate 1 more PFD a medical bill for 100$ leaving only two things left in collections

Re: where to go from here?!

oracles — Thu, 03 May 2012 21:48:34 GMT

Learning_Tee0225 wrote:
http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/27-amp-Learning-about-credit-the-hard-way/td-p/1338999

this is what the picture of my credit looks ive recently been able to eliminate 1 more PFD a medical bill for 100$ leaving only two things left in collections

Way to go OP, great job

I would maybe think about getting a store card that is easy to obtain and then garden after that.

I would also go ahead and ask NFCU to increase to $1000. The worst that can happen is they say no.

Re: where to go from here?!

Learning_Tee0225 — Thu, 03 May 2012 23:03:09 GMT

Oracles

Thank you!! im starting to see a little light just got a socre alert and had a little increase in my EQ score from 573 to 597 :smileyvery-happy: I know its still horrible but im glad to see the increase even a little!

I plan to call NFCU as well..your right worst they can say is no!

Re: where to go from here?!

rootpooty — Fri, 04 May 2012 07:28:24 GMT

Learning_Tee0225 wrote:
Oracles

Thank you!! im starting to see a little light just got a socre alert and had a little increase in my EQ score from 573 to 597 :smileyvery-happy: I know its still horrible but im glad to see the increase even a little!

I plan to call NFCU as well..your right worst they can say is no!

let us know what navy federal says. also you never answered my question. before you apped with navy cash rewards did you have an offer from them in my offers tab or did you just apply out of the blue?

Re: where to go from here?!

Learning_Tee0225 — Fri, 04 May 2012 18:32:53 GMT

i sure will, and i just did it myself i didnt have any offers so i was just happy to be approved period!

Re: where to go from here?!

Learning_Tee0225 — Fri, 04 May 2012 19:09:57 GMT

EXCITED!!!! took a chance (and another HP) and called NFCU to get a higher CL then 500$ Asked for 1,000 .. checked my account today CL raised to 1,000!!!!!!

Thank you NFCU for giving me a chance and to all the help i receive on these forums im offically done apping time to build some credit history ! :smileyvery-happy: :smileyvery-happy: !!!

Re: where to go from here?!

espnjunkie — Fri, 04 May 2012 19:18:45 GMT

Congrats! Time to garden for sure. No applications for at least the next six months

Re: where to go from here?!

webhopper — Fri, 04 May 2012 19:24:03 GMT

Congratulations are in order !! Way to go, and ya you can't beat NFCU!

Re: where to go from here?!

oracles — Fri, 04 May 2012 19:35:25 GMT

Learning_Tee0225 wrote:
EXCITED!!!! took a chance (and another HP) and called NFCU to get a higher CL then 500$ Asked for 1,000 .. checked my account today CL raised to 1,000!!!!!!

Thank you NFCU for giving me a chance and to all the help i receive on these forums im offically done apping time to build some credit history ! :smileyvery-happy: :smileyvery-happy: !!!

Great Job OP, congrats indeed

Re: where to go from here?!

Learning_Tee0225 — Fri, 04 May 2012 21:01:40 GMT

:smileyhappy: see you in the garden !

Re: where to go from here?!

rootpooty — Sat, 05 May 2012 20:31:46 GMT

Did you have a pre approval when you apped in my offers section? Reason I ask is like you I have a secured card with them and when i went to app over the phone they told me I had to either wait till I had a pre approved offer or just wait till they unsecure my card