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Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008
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Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.


JPmorgan wrote:

omskillet,

 

I appreciate your candid reply.  I can understand why you would think so.  At this point, it does not matter to me whether or not Myfico family believes my post.  Also, I was going to put my job title and employer, but given the response I received here, I was against it.  Just, I feel good about my credit journey.  I value the information here on Myfico, so I hope you understand that it was important to me to post the picture of all the credit cards I "claimed" to have.  That is the furthest I will go to support my original post.  But I truly appreicate your level headed response.


I'm still curious what you do for a living.  Genuinely...

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

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SisterGirl
Posts: 233
Registered: ‎11-17-2012
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Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.


CC365 wrote:

NewYorkGuy wrote:

xiownthisplacex wrote:

omskillet wrote:

HiLine wrote:

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?

 


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. 


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.


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.


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.  


CC365:

 

When I read this earlier, I had to scratch my head because it just didn't register....according to what I know about credit & what I've learned over YEARS in the game.
And you hit the nail on the head with this reply, my friend....(( kudos )) - we appreciate the wealth of information that you & many fine contributors bring to the community.

 

SisterGirl

SisterGirl
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CreditWorld2013
Posts: 346
Registered: ‎02-01-2012
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Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.

[ Edited ]


SisterGirl wrote:

 


CC365:

When I read this earlier, I had to scratch my head because it just didn't register....according to what I know about credit & what I've learned over YEARS in the game.
And you hit the nail on the head with this reply, my friend....(( kudos )) - we appreciate the wealth of information that you & many fine contributors bring to the community.

SisterGirl


Thank you. 

 

I would also like to add that sometimes their are deviations from the norm in which a case like this one may be true. In this case, the issue is the time frame. A dispute for a delinquency can take 30-45 days to be resolved+updated. Chase doesn't like applications within 60 days of each other (other banks don't like them either) of course some get through. With that knowledge + the fact that a slate is probably one of their easiest cards to get + 20 days later an approval with a "minimum credit line of $15,000" for their top exclusive cards is just not realistic. Also the income/investments, employment, etc doesn't add up.

 

In any case...I don't believe people should attack the original poster and get out their pitchforks. Perhpas they are Authorized User cards, they are from his/her spouse/significant other, etc. I have to admit that my field of work and study (C.J. and Law) makes me skeptical and observant. So perhaps some of us are fixated on every detail. With that being said, everyone should always take any story/case with a bit of salt. Full discloes or honesty is never a requirement online, in person, etc but rather something people hope to strive for. 

Regular Contributor
SisterGirl
Posts: 233
Registered: ‎11-17-2012
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Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.


CC365 wrote:


SisterGirl wrote:

 


CC365:

When I read this earlier, I had to scratch my head because it just didn't register....according to what I know about credit & what I've learned over YEARS in the game.
And you hit the nail on the head with this reply, my friend....(( kudos )) - we appreciate the wealth of information that you & many fine contributors bring to the community.

SisterGirl


Thank you. 

 

I would also like to add that sometimes their are deviations from the norm in which a case like this one may be true. In this case, the issue is the time frame. A dispute for a delinquency can take 30-45 days to be resolved+updated. Chase doesn't like applications within 60 days of each other (other banks don't like them either) of course some get through. With that knowledge + the fact that a slate is probably one of their easiest cards to get + 20 days later an approval with a "minimum credit line of $15,000" for their top exclusive cards is just not realistic. Also the income/investments, employment, etc doesn't add up.

 

In any case...I don't believe people should attack the original poster and get out their pitchforks. Perhpas they are Authorized User cards, they are from his/her spouse/significant other, etc. I have to admit that my field of work and study (C.J. and Law) makes me skeptical and observant. So perhaps some of us are fixated on every detail. With that being said, everyone should always take any story/case with a bit of salt. Full discloes or honesty is never a requirement online, in person, etc but rather something people hope to strive for. 


My sentiments exactly.....and your undeniable brilliance !

 

SisterGirl

SisterGirl
Valued Contributor
TiggerDat
Posts: 1,070
Registered: ‎10-15-2011
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Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.

I too find this extremely implausible!  I had about $3500 of credit at the beginning of the year.  I had all but 1 baddie fall off in July of this year and my income is $55,000.  I was not even able to get a Chase card when that happened.  I went on an app spree and was able to increase my credit portfolio, but not nearly by this much.  Using the same things claimed by JPMorgan I should have been able to net at least $50,000 of available credit.  Through increases and new credit I was able to get about $10,000 is all and not with any of the companies he has listed.  Going from school to work would be one issue the companies would have.  They would want to see at least 1 year of employment.  Each of these card companies, as stated before are senstitive to new accounts and inquiries.  These are the Prime cards and their rules don't allow such behavior.

 

Just because he posted a picture of those cards, don't mean they are his or even his picture.  Going from a bad situation to a good is possible, I did it to some degree!  You can research my posts here and you will see there has been no error in what I claim about my progress.  If you want you can even go over to Credit Karma and read my posts there.  (Same screen name!)  If what he is claiming to be true is truth, then good for him.  It doesn't fit the facts of credit or the rules of those lenders, under any circumstances, unless maybe being a lottery winner and then I am not even sure of that.  Lottery winners are know for spending all their money within a few years and I am certain that creditors know this. 

 

For those of you out there who are rebuilding, it is possible, but don't expect such results.  It does take time.  And I did to some degree focus on credit this year and last to insure that I am where I am now.  I did recon this year, I did backdoor calling for CLI's, I did BBB complaints, I asked for CLI's, I did what it took and I benefitted.  It did take some persistance and I made sure that at some point I stopped getting new credit as AAOA is important, especially for creditors like he has mentioned.  So just take what he said with a grain of salt or see it as humor.  (I see it as humor of someone who can't get what he wants and wants others to think he is better than he is.  A job right out of college with bad credit history and starting salary of $125,000 in a economically depressed market; realistic?)  People continue doing the right thing and you will do fine.  Don't believe everything you read and do your research!  (Every college student knows that!)



Rethink every purchase you make, before you make it. Use the card with the best rewards. Pay in full each month. Redeem rewards often. Use the cards online shopping for more discounts. Smile, knowing that being thrifty allows you to actually get more out of the same amount of money!
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Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.

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