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Valued Contributor
injustifiiable
Posts: 1,861
Registered: ‎03-30-2012
0

Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.

I went from $0 to $3500 in a year...not as much as you but works for me...lol.

Scores 6/17/2014: TU FICO: 643 | EQ FICO: 675 | EX AMEX FICO: 666

In my new wallet: American Express Premier Rewards Gold EMV: NPSL | BankAmericard Cash Rewards Visa EMV: $2500 | BarclayCard Rewards Average: $2000 | Travelocity Rewards AMEX: $1050 | Discover IT: $1500 | Amazon Rewards Visa: $1500 | Sportsman's Guide Visa: $3000 | Capital One QuicksilverOne MasterCard: $1250 | Target: $400 | J.Crew $5950
Established Contributor
espnjunkie
Posts: 726
Registered: ‎12-14-2011
0

Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.

your fico scores will take a hit because of the sheer number of inquiries in the past year. Aside from that you should be ok. As another poster said though, watch out because those annual fees end up counteracting any rewards you will get.

 

 

“The real measure of your wealth is how much you’d be worth if you lost all your money.” ~Unknown
Merrill+ Visa Signature ($25,000.00), Amex BCP ($29,700.00), Amex Green (NPSL), Capital One Quicksilver World Mastercard ($10,000.00), US Bank Business
TU-778 (04/28/2014))
EX (Plus) - 777 (10/21/2013)
EQ - 735 (April 2013)
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
0

Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.

Injust, that is great! This year I went from 1100 to 3100 so you did better than me. I am still waiting on the last approval to go through which probably won't be until January. So you definitely beat me. 0 to 3500 is a BIG accomplishment! Don't feel bad. :smileyhappy:
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Contributor
injustifiiable
Posts: 1,861
Registered: ‎03-30-2012
0

Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.


MovingForward_2012 wrote:
Injust, that is great! This year I went from 1100 to 3100 so you did better than me. I am still waiting on the last approval to go through which probably won't be until January. So you definitely beat me. 0 to 3500 is a BIG accomplishment! Don't feel bad. :smileyhappy:

Thank you, thank you. I have a few cards with "toy" limits. The goal for next year is to get a few new accounts with higher limits and then consolidating a little. By November 2013 my EQ will be clean, so I will probably go for a Chase or Discover card then.

Scores 6/17/2014: TU FICO: 643 | EQ FICO: 675 | EX AMEX FICO: 666

In my new wallet: American Express Premier Rewards Gold EMV: NPSL | BankAmericard Cash Rewards Visa EMV: $2500 | BarclayCard Rewards Average: $2000 | Travelocity Rewards AMEX: $1050 | Discover IT: $1500 | Amazon Rewards Visa: $1500 | Sportsman's Guide Visa: $3000 | Capital One QuicksilverOne MasterCard: $1250 | Target: $400 | J.Crew $5950
Valued Member
JPmorgan
Posts: 59
Registered: ‎05-06-2012
0

Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.

There was a small windown in which you could backdoor the application through.  I have heard the window is now closed and all Palladium applications must go through a private client banker.

American Express Blue | American Express PRG | Barclays Apple Financing Visa | Citi AAdvantage Visa Signature | Discover More | JP Morgan Palladium | Ameriprise World Elite Mastercard | Chase Sapphire Preferred

Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
0

Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.

You're welcome! I am in the same boat as you. Once the last BK falls off in August, I plan to app for a AMEX. I already applied for a Chase Freedom and got conditional approval through a recon...if I just had waited, it wouldn't have been so stressful! Cheers to 2013! :smileyhappy:
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Established Contributor
espnjunkie
Posts: 726
Registered: ‎12-14-2011
0

Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.

Barclays has been known to shut down accounts if they see tons of inquiries hitting shortly after opening a new card with them. If all of those are hitting at the same time I'd be on the watch for this to give you a heads up

“The real measure of your wealth is how much you’d be worth if you lost all your money.” ~Unknown
Merrill+ Visa Signature ($25,000.00), Amex BCP ($29,700.00), Amex Green (NPSL), Capital One Quicksilver World Mastercard ($10,000.00), US Bank Business
TU-778 (04/28/2014))
EX (Plus) - 777 (10/21/2013)
EQ - 735 (April 2013)
Established Contributor
tennisfan78
Posts: 629
Registered: ‎09-18-2011
0

Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.

This year has been big for me in rebuilding as well.

 

I also increased my limits from $2250 to $23,250 ($13,250 in credit limits and a $10,000 auto loan).

 

My credit score took some hit because of the inquiries and new accounts, but i think it is going to be positive in the long run!!!


Starting Score: EQ=665,TU=618 on Oct 9,2010
EQ=702,TU=725 on Apr 11, 2012 EQ=705 on Oct 31, 2012 Current Score: EQ=702, TU=714 on Dec 8, 2012
Goal Score: 750

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Valued Member
JPmorgan
Posts: 59
Registered: ‎05-06-2012
0

Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.

I know that my spending will not justify the nearly $1000 in annual fees.  I don't travel nearly enough to take advantage of the mileage plans either.  However, if you want to calculate AF vs rewards, I've earned enough to justify the AF for the next 2 years.  100k Ultimate Rewards points for the Palladium, $400 from the Sapphire Preferred, 50,000 Membership Rewards points from the Gold Premier Rewards, $200 from the Bofa Privileges, 40k AA miles from the AAdvantage, nearly $300 from Discover card.  I know many members in this forum are sensitive to annual fees, but I am not.  I can afford them, and like I said in the original post, I think of credit as cheap insurance.  For me, credit is my slave.  I use it when I need it.  I will no longer be a slave to credit...

American Express Blue | American Express PRG | Barclays Apple Financing Visa | Citi AAdvantage Visa Signature | Discover More | JP Morgan Palladium | Ameriprise World Elite Mastercard | Chase Sapphire Preferred

Valued Contributor
jsickz32
Posts: 1,987
Registered: ‎06-25-2012
0

Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.

Oh i see. Congrats op! I also dont care about AFs. This year i started with around 4600 and 3 cards to what you see now in my siggy. I opened my barclays on 10/11 and they seen all my new accounts and called me to warn me but they didnt close my account or lowered my cl.
Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)

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