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

[nicholasyud]

Awesome.........great job well done......That's one of my target there.....

[NewYorkGuy]

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@xiownthisplacex wrote:

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@omskillet wrote:

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@HiLine wrote:

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@omskillet wrote:

I'm having a really hard time believing this is possible. Many of these companies are extremely inquiry and new account sensitive. Having this many new accounts and all this new available credit would certainly be red flags. 

Not trying to start anything but I do have a problem with giving people the idea that they can go from 500 in availble credit to 200,000 in one year. 

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The OP explained his approach. Which part of it do you think doesn't make sense?

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19 new accounts with most likely 19 inquiries in 12 months would not go over with Barclays, Amex, or Citi without a doubt. AAoA has to be much less than a year after all these new accounts which is another thing that won't get you 10k limits. I would venture to say that there are no other examples of someone being given this much credit in such a short period of time in all this forum. 

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I have to agree with omskillet on this one.

OP clearly states that he had 17 baddies and still has 2 on his reports and only two CC's with $500 limits. AMEX only gave me $1,000 on my BCE because I had 5 new accounts in the previous 12 months when I applied, I have been an AU since 98, no baddies ever and always PIF. Just from AMEX he has $31,000 and NPSL with 2 baddies and 19 new accounts. Not to mention the Palladium. Just doesn't sound right. But then again I have been surprised many times lol.

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I agree with the above sentiments. As much as I would like to celebrate with the OP and believe that something like this is possible, it just doesn't seem logical... or as the saying goes "it doesn't pass the smell test." I think there is more to the story that we are been told. Even if it is true, I find it hard to believe that the OP could pull this off without any form of adverse action from one of his creditors based on all the all the new accounts and inquiries showing up on his report in the space of 12 months.

That said, I am not too surprised that the OP was able to get such high limits on his cards. Credit limits are determined by your credit score and income. If you have very good to excellent score and you put down a very high income (the OP says his income has risen to $130, 000), then you can expect to get a decent to high credit limit. Your stated income on a credit card application plays a big role in the credit limit you eventually get providing you have the credit score to back it up.

[beb86]

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@Anonymous wrote:

Hello My Fico,

As 2012 winds down, I always like to take a day off and review the past years events.  Personal, family, professional, financial, health,  and religion are the topics that I reflect back on.  And for financial, credit is a large portion of it. 

Looking back, on January 1, 2012, I had 2 credit cards to my name.  A Bank of America secured card for $200, and a Capital One secured card for $300.  Currently, I have:

NPSL  American Express Gold Premier Rewards  (My credit spending ability exceeds 40k.)

37.5k  JP Morgan Palladium

25k     American Express Blue

15k     DCU Visa

13.2k  Ameriprise World Elite Mastercard

12.3k  Bank of America Privileges Visa Signature

9.1k    Citi AAdvantage Visa Signature

8k       Discover More

7.5k    Chase Sapphire Preferred

7k       Capital One Venture World Mastercard

6k       American Express BCP

5k       Capital One Visa

3.5k    Barclays Apple Financing Visa

Store Cards

.5k      Nordstroms

1.2k    Walmart

10k     Best Buy

Vehicle loans

38.8k  Hyundai

14.2k  Nissan

6k       Kawasaki

All of the above accounts were obtained in 2012.  (I know, I have major gardening time ahead!!!)

My credit scores went from the low 500's to mid 750's this year.  I started with over 17 baddies on my credit reports, and now I am down to 2.  In the past, my credit was so poor, I was getting declined for secured cards, cell phone leases and apartment leases.  I was so sick of it, my goal in 2012 was to get them all removed this year, but I'll get this in the beginning of 2013.  For those of you starting credit repair, my advice is this.

1.  Read EVERY single posting on the credit repair forum.  It took me two weeks to do so, but I had more knowledge about credit than 99% of Americans, even more knowledge than the credit analysts.

2.  Live, breathe, and sleep credit repair.  It must consume your life.

3.  You must truly want it.  I started lurking on credit repair sites from 2008, and started it a few times.  But last year, I decided 2012 would be the year I finally finish it.

4.  Utilize the backdoor phone numbers.  The backdoor numbers are an incredible tool for you to take advantage of.

5.  Keep a paper trail of everything.  I have a separate folder that I put copies into.

Credit repair really works.  But its not easy.  Be prepared for months of hard work.  You may feel like progress is slow, when you gain momentun, they fall off rapidly.   

Good luck MYFICO, and make it a great 2013!

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That is a great STORY but as with most stories the truth is usually a little over exaggerated. To go from the mid 600s with derogs, and chase slate denials, and with close to $4000 in CL with rebuliders (most not mentioned in your post) to a palladium in less than a month is very hard to believe, also opening a bunch of accounts a few months after you opened your barclays is hard to believe. You did mention that you were an AU on a lot of prime accounts so I would assume most of your primes and high CLs are though an AU.

  If all of this is true you need to be very cautious where your income has increased 5x's, and the temptation to run CC balances up are out there. 130k now isn't what it was back then..Especially with close to 1/4 million in CLs that you have available.

Best of luck.

[CreditWorld2013]

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@NewYorkGuy wrote:

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@xiownthisplacex wrote:

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@omskillet wrote:

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@HiLine wrote:

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@omskillet wrote:

I'm having a really hard time believing this is possible. Many of these companies are extremely inquiry and new account sensitive. Having this many new accounts and all this new available credit would certainly be red flags. 

Not trying to start anything but I do have a problem with giving people the idea that they can go from 500 in availble credit to 200,000 in one year. 

---

The OP explained his approach. Which part of it do you think doesn't make sense?

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19 new accounts with most likely 19 inquiries in 12 months would not go over with Barclays, Amex, or Citi without a doubt. AAoA has to be much less than a year after all these new accounts which is another thing that won't get you 10k limits. I would venture to say that there are no other examples of someone being given this much credit in such a short period of time in all this forum. 

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I have to agree with omskillet on this one.

OP clearly states that he had 17 baddies and still has 2 on his reports and only two CC's with $500 limits. AMEX only gave me $1,000 on my BCE because I had 5 new accounts in the previous 12 months when I applied, I have been an AU since 98, no baddies ever and always PIF. Just from AMEX he has $31,000 and NPSL with 2 baddies and 19 new accounts. Not to mention the Palladium. Just doesn't sound right. But then again I have been surprised many times lol.

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I agree with the above sentiments. As much as I would like to celebrate with the OP and believe that something like this is possible, it just doesn't seem logical... or as the saying goes "it doesn't pass the smell test." I think there is more to the story that we are been told. Even if it is true, I find it hard to believe that the OP could pull this off without any form of adverse action from one of his creditors based on all the all the new accounts and inquiries showing up on his report in the space of 12 months.

That said, I am not too surprised that the OP was able to get such high limits on his cards. Credit limits are determined by your credit score and income. If you have very good to excellent score and you put down a very high income (the OP says his income has risen to $130, 000), then you can expect to get a decent to high credit limit. Your stated income on a credit card application plays a big role in the credit limit you eventually get providing you have the credit score to back it up.

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Well, I believe we have another TannerK on our hands. If you look back at the time frame it fits that the account was open within a month of tanner axing his posts. Also the story itself doesn't match up with old JPMorgan threads. For example, on 5/6/12 he created the thread "Toy Cards: Keep or Close" and listed a few different accounts mostly secured/bad credit/etc. Here he states that it was only $500. So that is the first mishap. A thread before that he only had his girlfriends cards. Originally on 5/6/12 he stated he wasn't even approved for a Chase Slate card here. On 5/30/12 he claims was approved for the Pallidum here. Then a few months later he claimed to combine investment accounts, etc. If you have so much investments you wouldn't default to the point of having bad credit. Also the income of 130K doesn't support such Credit limits. Not to mention inquiries, age of accounts, etc. All it takes is some research and common sense to realize a lie when you see one.  

[beb86]

CC365

wow we just did the same thing haha..... two P.I.s for hire lol

[CreditWorld2013]

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@beb86 wrote:

CC365

wow we just did the same thing haha..... two P.I.s for hire lol

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+1.  I had to insert links for easy verification for others to see so it took some time. 

[beb86]

lol I have a paper I took notes on haha

[xiownthisplacex]

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@CC365 wrote:

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Well, I believe we have another TannerK on our hands. If you look back at the time frame it fits that the account was open within a month of tanner axing his posts. Also the story itself doesn't match up with old JPMorgan threads. For example, on 5/6/12 he created the thread "Toy Cards: Keep or Close" and listed a few different accounts mostly secured/bad credit/etc. Here he states that it was only $500. So that is the first mishap. A thread before that he only had his girlfriends cards. Originally on 5/6/12 he stated he wasn't even approved for a Chase Slate card here. On 5/30/12 he claims was approved for the Pallidum here. Then a few months later he claimed to combine investment accounts, etc. If you have so much investments you wouldn't default to the point of having bad credit. Also the income of 130K doesn't support such Credit limits. Not to mention inquiries, age of accounts, etc. All it takes is some research and common sense to realize a lie when you see one.  

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Just as I thought

Thanks for taking the time to looking up those threads

[Anonymous]

<a href="http://s1305.beta.photobucket.com/user/jpmorgan2/media/photo-2_zps0b2c9d47.jpg.html" target="_blank"><img src="http://i1305.photobucket.com/albums/s560/jpmorgan2/photo-2_zps0b2c9d47.jpg" border="0" alt="Photobucket"/></a>

Why would people say I am not telling the truth?  What POSSIBLE reason would I have to tell a lie on the internet?  It's ok if you don't believe me, I could care less.  Anyways, I posted a pic to show you that I am not TannerK.  I read all about that big mess.  I want to stay with the myfico community to learn and share.  Not to flame on other peoples posts.  

[CreditWorld2013]

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@Anonymous wrote:

Why would people say I am not telling the truth?  What POSSIBLE reason would I have to tell a lie on the F'ing internet?  Get a life you losers.  It's ok if you don't believe me, I could care less.  Anyways, I posted a pic to show you that I am not TannerK.  I read all about that big mess.  I want to stay with the myfico community to learn and share.  Not to flame on other peoples posts. 

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1) People are simply stating that you may have those cards but they may not actually be your accounts but instead that you are an "Authorized User". 

2) That picture shows different names on some of the cards  (So that doesn't prove much anyways...although you have nothing to prove)

3) I'm pretty sure the way you are phrasing that violates the TOS on this site. 

4) Some people lie about anything...just because they have an ego problem or they don't want to claim failure...along with a million other reasons.