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Regular Contributor
ChistineNJ
Posts: 160
Registered: ‎04-04-2013
0

1 year app spree Advice

Asking for a friend thats at her 1year mark...due for app spree how many apps will be considered excessive? Post Bk she has obtained 30k auto finanacing with capital one (6months old) , 2500 secured card, 400 credit one and 1000 Installment. Scores vary at very low 600-620. And whom should she apply? Thanks in advance.
 Cap1 1500.00, CU card 800.00, express 250, nrewards 2500.00, VS 500.00, quicksilver 1500.00, BML 500.00, CB Loan 1000.00

Starting Score: 553
Current Score: 630
Goal Score: 650


Take the myFICO Fitness Challenge

 Pre BK score: 565 (Credit-Infonet)
Filed Bk : 3/26/13
Scores: TU 591, EQU 579 EXP 516
BK D/C: 6/21/2013
Post Clean up Scores: TU 569, EQU 553 EXP 587
New Accounts
6/28 Capital One $300.00
7/ Fp $700.00
9/11 Express Retail Charge $250.00
10/28/13- nfcu nrewards $500.00
Frequent Contributor
shols44
Posts: 397
Registered: ‎11-03-2012
0

Re: 1 year app spree Advice


ChistineNJ wrote:
Asking for a friend thats at her 1year mark...due for app spree how many apps will be considered excessive? Post Bk she has obtained 30k auto finanacing with capital one (6months old) , 2500 secured card, 400 credit one and 1000 Installment. Scores vary at very low 600-620. And whom should she apply? Thanks in advance.

 

What does her TU report look like in terms of score, and inquiries? Is she a member of any credit union?

 

I think she has a good chance of getting at least three new cards. Barclays, another capitalone card (tripple pull) and a GE card. If she lives near a walmart, the walmart card could be a great option for GE otherwise, paypal or a store card could work as well. 


Starting Score: 501
Current Score: 706 EQ,TU 689,EX 686
Goal Score: 720

Regular Contributor
ChistineNJ
Posts: 160
Registered: ‎04-04-2013
0

Re: 1 year app spree Advice

Shols, 6 inquiries on TU four from 2012, two as of this year.... Five inquries on EX and EQ ....TU score 626, member of a local CU. discover has alrady given her an invitation to apply beleive its a difference between pre-approved and invite. If she goes with barclays card i know they are inq sensitive in which order shoukd she apply and whats the cooling off peorid? Thanks in advance.
 Cap1 1500.00, CU card 800.00, express 250, nrewards 2500.00, VS 500.00, quicksilver 1500.00, BML 500.00, CB Loan 1000.00

Starting Score: 553
Current Score: 630
Goal Score: 650


Take the myFICO Fitness Challenge

 Pre BK score: 565 (Credit-Infonet)
Filed Bk : 3/26/13
Scores: TU 591, EQU 579 EXP 516
BK D/C: 6/21/2013
Post Clean up Scores: TU 569, EQU 553 EXP 587
New Accounts
6/28 Capital One $300.00
7/ Fp $700.00
9/11 Express Retail Charge $250.00
10/28/13- nfcu nrewards $500.00
Frequent Contributor
shols44
Posts: 397
Registered: ‎11-03-2012
0

Re: 1 year app spree Advice


ChistineNJ wrote:
Shols, 6 inquiries on TU four from 2012, two as of this year.... Five inquries on EX and EQ ....TU score 626, member of a local CU. discover has alrady given her an invitation to apply beleive its a difference between pre-approved and invite. If she goes with barclays card i know they are inq sensitive in which order shoukd she apply and whats the cooling off peorid? Thanks in advance.

My first thought is to say wait. Barclays and GE are both TU pullers. Can she wait until the 2012 inquiries hit 12 months? At that point, they won't count towards fico scoring and should give a 10-20 pt bump. I think GE will approve but Barclays will require recon. It seems like a lot of INQs spread across CBs as well. Discover will pull EQ so even that is somewhat shaky. If it was me, I'd likely go with barclays and GE together as long as I've had 6 mos reporting and wait a bit longer for EQ to develop before discover. 

 

Any idea how long current lines have reported? I'm a bit gun shy on her because I know Barclays will likely complain. One more thing, is she ballin income wise?


Starting Score: 501
Current Score: 706 EQ,TU 689,EX 686
Goal Score: 720

Regular Contributor
ChistineNJ
Posts: 160
Registered: ‎04-04-2013
0

Re: 1 year app spree Advice

My advice is to wait until those 6 inq are off oct of this year..Income is good but varys between 2500/mo-4000/mo she works in health care via agencys her debt to income is 6% as per TU..lines reporting 6months i beleive
 Cap1 1500.00, CU card 800.00, express 250, nrewards 2500.00, VS 500.00, quicksilver 1500.00, BML 500.00, CB Loan 1000.00

Starting Score: 553
Current Score: 630
Goal Score: 650


Take the myFICO Fitness Challenge

 Pre BK score: 565 (Credit-Infonet)
Filed Bk : 3/26/13
Scores: TU 591, EQU 579 EXP 516
BK D/C: 6/21/2013
Post Clean up Scores: TU 569, EQU 553 EXP 587
New Accounts
6/28 Capital One $300.00
7/ Fp $700.00
9/11 Express Retail Charge $250.00
10/28/13- nfcu nrewards $500.00
Frequent Contributor
shols44
Posts: 397
Registered: ‎11-03-2012
0

Re: 1 year app spree Advice

[ Edited ]

I had to recon my both my barclays cards. It took some selling but I had only 1 INQ the first time and 2 the 2nd time. I think its possible but likely will need to recon instantly and be prepared to work the analyst. Best bet is to wait a bit and let some inqs fade and get a score bump.


Starting Score: 501
Current Score: 706 EQ,TU 689,EX 686
Goal Score: 720


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