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Quite amazing few weeks. Story

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MachoHombre
Regular Contributor

Quite amazing few weeks. Story

60 days ago = off the credit grid for the last decade. Mortgage paid off years ago, last car payment 12'ish years ago. Only active item on my reports a Comentity card, $3K CL, stellar payment history, always PIF.  AoA = 3 years.

 

59 days ago = 

Curious about new car loan to get back in the credit game.  Went to CK to get a ballpark of where I stood.
Reports didn't show my past good things from many years ago, but also didn't show a few skeletons. Altogether probably a "wash".   Mid 700s (VantageS3.0)  Good enough, felt I wouldn't be too embarrassed when my reports were pulled.

 

Shopping with reputable dealer that I have personal relationship. They dug in and noted my thin file and explained some basics to me ...and reminded me I haven't had an installment loan in 12 years!). ...got financed with decent but not rockstar rate. I was happy to be back in the credit mix.

 

-Started self educating myself on credit, this forum has been my go to site the last weeks.

Did minor report maintenance (one minor baddie on EQ removed) meanwhile the car installment loan made it's way to my reports, numbers were up, felt it time to put a stake in the ground.

 

48 days ago =

Pulled thee primary reports and strategically went on an app spree, in less than two weeks:

*Citi Sapphire Pref 16.9K (very pleasantly suprised)
*Amex Blue Cash 2.0K (dissapointed)
*Discovery IT 13.0K (I smiled)
*Comenity CL increase 1.5K (current card now = CL of 4.5K)
*BofA Cash123 5.0K (I smiled)
*BofA Premium Rewards 7.5K (I smiled)

 

-->So, within a couple weeks I was up from $3.0K total CL and one card;  Now = 6 cards and $48.9K ( up 1,630% )  I was happy.


I already had calculated that AAoA and Inquiries would not be my friends.  But I had needed new accounts and now I had them.

 

-I regrouped, did some math and realized AAoA couldn't get much worse and having most all accounts grow together was only option. Experian was much higher on HPs than the others so I locked it and went back to the apps.  I knew it would be head-winds as I now had multiple HPs, new accounts and crap AAoA. (although my credit score numbers weren't all that bad)

 

*Cap1 Qucksiver immediately went to pending, it's been a PIA getting them proof ID documents they request, finally sent them hard copies after too much drama on the fax. Not sure I would have pursued this hard after the denial but with their multiple HPs don't want to walk away empty handed. Don't know result yet, but it's been a PIA dealing with them and not sure what the outcome will be.

 

*Barclaycard UBER ...got denied, waited for letter and did Recon call. After some time with the analyst got $2.5K.  Before getting off the phone asked him for $5K to get Signature card, told him I'd give them my travel spend and not just food. He didn't bite.
With the UBER card added to the mix I was at $51.4K with 7 cards total (a bit over a month ago I was at $3K and one card, up 17,133% in a few weeks )

*Citi Thank You Premier:   Declined and no luck on phone reconsideration. I have penned nice recon letter but don't hold much hope. I was sloppy on how I did Citi, (inadvertenly did two online apps), combined with they're very tough with multiple inquiries and Ex locked. I don't have much hope this will go positive.

*HSBC Platinum Visa - It's pending, I have no idea what will happen. [update via phone declined, when I get letter I'll recon, but it doesn't smell hopeful]
*Fidelity Visa - It's pending, I have no idea what will happen.  [update:  via phone I've been approved 3K, i'll recon for higher CL]

--------------
So I'm done with apps, will allow "time" to be my friend and let things settle. Minimum 12 mos, perhaps 18 or even 24. I alway PIF each month, my utilization won't every be above zero.  I've created calendar with all cards and their statement close windows and due dates, I pay in full before statement close, rarely does anything trickle over into a post close balance. I'll use a couple cards regularly, will at put something on every one each month, even if it's minor.

 

My goals now:
- Follow up on declined and pending apps and see if I can turn those HPs in something. I'm ready to invest in recon calls/letters etc
- Set calendar reminders on all acounts in the months ahead for strategic times to ask for CLI without HPs

 

**Biggest smile of this adventure:
My new Amex states:  Customer since '87. (true!)

.. AMEX green 31 years ago as teenager was my very first card.

Been without Amex for last couple decades but they remembered our anniversary!  I'm going to work very hard to foster this relationship, in a year or two I'll apply for the Platinum and be proud of my "customer since '87 "

 

Misc Rambling

Card Promos:  These didn't influence me much, A few I'll get modest kickers with my generic spend (Amex Blue, Cash123, Uber). I don't have the generic spend to get the kickers on the Sapphire or Premium Rewards ..but those kickers were not my reason for applying.

 

Yearly fee:  Sapphire and Premium Rewards each $100, I'll get that value out of each with rewards and perks so I'm fine with those fees.

 

Not sure if any valuable data-points in my story, but I want to thank this forum for some great wisdom.

I've taken more than I've given here,  .... so far, -but will give as I can to keep karma on my side.

 

Thanks if you read this far.

 

 

 

||
11 REPLIES 11
AverageJoesCredit
Legendary Contributor

Re: Quite amazing few weeks. Story

Great story. I'm really curious on what your actual credit scores were to be credit dead for 10 years and walk away with a spree most of us couldn't pull off if we triedSmiley Wink
Message 2 of 12
MachoHombre
Regular Contributor

Re: Quite amazing few weeks. Story

Thanks AJC.

-VantageScore 3.0 when this started, before taking installment car loan =

TransUnion 772
Equifax 741 
Experian 751 (assuming VantageScore)

-

In the following weeks they've bounced around, coming up a bit with installment loan added and one baddie removed, but alo hit with vastly reduced AAoA and multiple inquires, the net result is I'm up a tiny bit..not much. 

**But the HPs and AAoA ....i'm certainly not viewed the same by banks as a few weeks ago, even though my score hasn't been hammered.

I'm still waiting to see how it all shakes out in the weeks ahead as new accounts come on.

 

I came out of 12 year hibernation with only once active account, only 3 years old, but it was flawless.  That was enough to get me in those numbers (which is a suprise to me).   But zero HPs, zero utilization and stellar on-time payments ..that was enough.

||
Message 3 of 12
Anonymous
Not applicable

Re: Quite amazing few weeks. Story

Wow congrats  to all Approval , what a story , time to garden those beautiful fresh babies

Message 4 of 12
AverageJoesCredit
Legendary Contributor

Re: Quite amazing few weeks. Story

Thanks for update. I'd recommend getting your actual FICO scores either here or at credit check total for a $1, cancel before the 7 day trial is up. I'd wager you were sitting in the 800's knock on wood.

Enjoy this round, some great pickups Smiley Happy
Message 5 of 12
Anonymous
Not applicable

Re: Quite amazing few weeks. Story

OP, I'm not sure if you're aware, but the VS 3.0 scores you are getting from CK aren't at all relevant to your current credit journey.  All of the lenders you mentioned apping with used something other than VS 3.0, likely mostly FICO scores when they pulled your reports.  As suggested above previously, getting your genuine FICO 08 scores from CCT for $1 would be a smart move.  If not, at the very least get your Experian FICO 08 scores from creditscorecard.com for free.

Message 6 of 12
Brian_Earl_Spilner
Credit Mentor

Re: Quite amazing few weeks. Story

That's nice to hear about amex. My very first card was a gold in 99. Haven't been with them in a long time. Makes me wonder if they'll put 99 on my card if I get them again.

    
Message 7 of 12
SomewhereIn505
Valued Contributor

Re: Quite amazing few weeks. Story

Give a little time and your AmEx will grown quickly. Look up the AmEx 3x CLI thread in the credit card applications forum. 


3/16/18 FICO9 TU-700 EQ-669 EX-716
6/26/18 FICO9 TU-750, EQ-672, EX-789

Message 8 of 12
MachoHombre
Regular Contributor

Re: Quite amazing few weeks. Story

AverageJoesCredit sayz:
Thanks for update. I'd recommend getting your actual FICO scores either here or at credit check total for a $1, cancel before the 7 day trial is up. I'd wager you were sitting in the 800's knock on wood.
Enjoy this round, some great pickups

---

BrutalBodyShots sayz:
OP, I'm not sure if you're aware, but the VS 3.0 scores you are getting from CK aren't at all relevant to your current credit journey. All of the lenders you mentioned apping with used something other than VS 3.0, likely mostly FICO scores when they pulled your reports. As suggested above previously, getting your genuine FICO 08 scores from CCT for $1 would be a smart move. If not, at the very least get your Experian FICO 08 scores from creditscorecard.com for free.

*************

Hey guyz, thanks for the wisdom.   I'll dig into this and will get my actual FICO.  I'll surf this forum for additional wisdom on efficient and good ways to gather.   Sounds like Credit Check Total is a good place to start.      Thanks again for the wisdom.

||
Message 9 of 12
Anonymous
Not applicable

Re: Quite amazing few weeks. Story

Good job  MachoHombre!

Message 10 of 12
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