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Contributor
Mysticuno
Posts: 86
Registered: ‎07-25-2013
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Re: Need Add'l Credit Line to Boost Score

[ Edited ]

Hope it happens by 2/1 or else I won't make it thru Underwriting for mortgage approval. Aggressive and hopeful. Thx!


Starting Score: EFX 545, XPN 561, TU 539
Current Score: 4/3/14: 660 EFX (MyFico), 635 XPN , 680 TU
Closed on my new home 5/5/14!
Epic Contributor
Creditaddict
Posts: 20,026
Registered: ‎10-23-2007
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Re: Need Add'l Credit Line to Boost Score


Mysticuno wrote:

Hope it happens by 2/1 or else I won't make it thru Underwriting for mortgage approval. Aggressive and hopeful. Thx!


if you are looking to go to underwriting that soon I would NOT apply for anymore.

Just work on paying and deleting and keeping your new ones very low util.

 

Fico Scores: EQ 673 DCU, TU 678 Wally, EX 669 Chase(08-31-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Express $300
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Contributor
Mysticuno
Posts: 86
Registered: ‎07-25-2013
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Re: Need Add'l Credit Line to Boost Score

Yes i agree, only needed two but the AU add was a bonus since it was already established. Thanks :-)


Starting Score: EFX 545, XPN 561, TU 539
Current Score: 4/3/14: 660 EFX (MyFico), 635 XPN , 680 TU
Closed on my new home 5/5/14!
Mega Contributor
coldnmn
Posts: 12,716
Registered: ‎08-08-2011
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Re: Need Add'l Credit Line to Boost Score

[ Edited ]

Mysticuno wrote:

Was approved today for both JCrew $250CL and CAP1 Unsecured $300. It's a little start but good news.


Congrats! Huge start WTG! :smileywink:

 

edit: Any more inquires will be a negative I don't think your score will be where you want it by 2/1 credit takes time.:smileyembarrassed:

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Regular Contributor
brikays
Posts: 240
Registered: ‎03-07-2013
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Re: Need Add'l Credit Line to Boost Score


Mysticuno wrote:

Was approved today for both JCrew $250CL and CAP1 Unsecured $300. It's a little start but good news.


Congrats.....we all have to start somewhere. Good luck on your credit journey.

 

~ Hover over cards to view limits ~
  
Senior Contributor
alvon123
Posts: 6,754
Registered: ‎09-24-2013
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Re: Need Add'l Credit Line to Boost Score


Mysticuno wrote:

Was approved today for both JCrew $250CL and CAP1 Unsecured $300. It's a little start but good news.


congrats

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Contributor
Mysticuno
Posts: 86
Registered: ‎07-25-2013
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Re: Need Add'l Credit Line to Boost Score

Thanks ALL for your feedback and support. Will keep you informed of my 2/1/14 mortgage fast track. 


Starting Score: EFX 545, XPN 561, TU 539
Current Score: 4/3/14: 660 EFX (MyFico), 635 XPN , 680 TU
Closed on my new home 5/5/14!
Frequent Contributor
austinguy907
Posts: 304
Registered: ‎03-03-2008
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Re: Need Add'l Credit Line to Boost Score


Mysticuno wrote:

Additionally, after the previous repo collection is paid and a final collection of 309. PFD, I will have paid more than 5k on cleanup but totaling over 10k of negative showing owed on my report. Working to become mortgage ready for 1st Q next year.


If you're planning on taking out a mortgage you're better off just working on the deletes unless  you want the UW up your @$$ scrutinizing everything on your report and writing explainations for every little thing you add to your portfolio.  I hadn't opened anything in the previous 12-24 months before taking mine out a couple of years ago.  I had to write something up because the address on my DL didn't match where I lived, another letter for the inquiries from another mortgage broker prior to selecting the mortgage company i went with, and some other little things.  

 

I suspect you will have to explain some stuff though once all the bad stuff abates from your credit profile to explain why you have a $500 secured card when your score pops up from the weight lifted from the bad items being removed.

 

You might be able to get past UW though if you have some higher reserves in the bank prior to applying and giving them your financial records for the past 2 years and submitting the 4506-T for IRS verification.  It all depends on the UW ultimately though whether they approve or deny the mortgage application and funding.

Scores by lender CLI requests 4/15/14: EQ 760 / TU 755 / EX
------------------------------------------------------------------------------------
Scores by lender 4/25/11: EQ 705 / EX 743 / TU 735
Mortgage closed 5/20/2011!
Contributor
Mysticuno
Posts: 86
Registered: ‎07-25-2013
0

Re: Need Add'l Credit Line to Boost Score

Thanks! Saw another bump in the score, will continue working toward the goal. Reading others' journy's has been very inspirational and hopeful.


Starting Score: EFX 545, XPN 561, TU 539
Current Score: 4/3/14: 660 EFX (MyFico), 635 XPN , 680 TU
Closed on my new home 5/5/14!
Contributor
mlibby
Posts: 88
Registered: ‎12-19-2013
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Re: Need Add'l Credit Line to Boost Score

after reading this i still dont know what aaoa is. totally off the subject but could someone tell me what is means?


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