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I have been working on my credit for some years now. I have had the NFCU Secured Card for almost 2 years. I decided after reading on these boards to apply for the CashRewards......
"Congratulations! Based on your creditworthiness, you have been approved for a Signature cashRewards Visa credit card. Your new credit line will be $500.00. Your APR will be prime plus 12.4%. You should receive your new card(s) in 7-10 normal mail delivery days."
As I am sooo grateful I was approved, since I thought I would be denied, I was hoping for a high CL.
I currently have the following with NFCU:
1. Checking
2. Savings
3. Money Market Savings
4. NFCU nRewards Secured ($500 CL)
Salary: 85k
Should I do a recon? If so, anyone have the back door number? Should I wait a few months and request a CLI?
3/4/2013 EX (Plus Score): 599 / EQ: 611 / TU (Walmart): 662
Looking at the scores in your signature....I would say you must have some work to do on cleaning up your credit. Do you have a current FICO score or are those FAKO?
If those are your accurate scores I would suggest you spend the next 6 months cleaning it up and let your score rise before asking for a CLI.
Thank you for the response. Those scores were pulled from myfico, walmart, and Experian site. Im assuming they are all FICO scores?
I have been cleaning up my report. I have to major collections 5k, 9k, that will fall off JUL and AUG 2013. I know those are hurting my credit. All other collections are paid.
I have a Macys $600, Paypal Smart Connect $900, Orchard $320, Cap One Secured 2k, Walmart $1500, Amex Blue (Authorized User) 9k, Best Buy RewardZone $320, NFCU nRewards $500.
For the most part I use all the cards and PIF each month. My scores have been stagnant for a few months and dont know why or how to get them higher.
What is your current utilization for each card as of when you pulled those scores?
This may sound dumb... but..... Where do I find the utilization? Im thinking since I PIF each month, my utilization should be close to 0%.
Yes if you are paying before your card reports to the CRA then it would be.
On that point, make sure you do not have ALL of your cards showing $0; fico does not like that for scoring. Leave 1 of your cards with 1-9% on it.
What about the other collections? Although paid are they still on your report?
Yes the paid collections are still on my credit report. I dispute monthly...but never removed.
You should look at GW request to try to get them removed.
Okay I will look into that. So pretty much clean up report some more, wait for the major collections to fall off, and then ask for CLI?... Or recon now for a CL?
I would wait if I were you......I think if you get those things taken care of you will see a very nice increase.