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Contributor
Tristate
Posts: 82
Registered: ‎06-02-2012
0

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

OP , very impressive  ! Congrats on hard work.! On your list of suggestinos for fellow Ficoneers you should have added : make sure your salary jumps x5 . :-)


Starting Score: FICO EQ-660 TU-658 07/2012
Current Score: FICO EQ-680, Walmart TU-640
Goal Score: FICO 700


In my wallet : Cap1Quick Silver-$1250,Barclaycard MC-$6000 , Merrick-$1700,Walmart-$250.



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Established Contributor
jcstarkey8826
Posts: 708
Registered: ‎06-01-2012
0

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

Congrats!!! I was able to go from $0 to $5100, but then I closed one with an annual fee and am at $4600 now. Cant wait to see what the next year has in store for me!

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008
0

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


JPmorgan wrote:

I believe my income was a factor with credit being available to me.  My income jumped from 25k to over 130k yearly.  (I was still in school last year)


That's a nice bump right out of school.  What do you do for a living?

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

Contributor
kiasmith1974
Posts: 93
Registered: ‎10-10-2012
0

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

Bless your heart! I too am on a journey....this post has given me additional

Inspiration!

Starting FICO 485
Myfico 635 (3/01/14)
EX FAKO 667 EQ 697 Barclaycard TU 707 4/27/14 (yea!)
Mortgage Ready End of 2015
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HiLine
Posts: 3,176
Registered: ‎10-19-2012
0

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


p- wrote:

JPmorgan wrote:

I believe my income was a factor with credit being available to me.  My income jumped from 25k to over 130k yearly.  (I was still in school last year)


That's a nice bump right out of school.  What do you do for a living?


Either an experienced financier with an MBA or a lawyer I'm guessing. :smileyhappy:

 

Regular Contributor
omskillet
Posts: 118
Registered: ‎01-04-2012
0

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

[ Edited ]

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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HiLine
Posts: 3,176
Registered: ‎10-19-2012
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Re: $500 in credit to $200,000 in one year! My personal credit story of 2012.


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?

 

Contributor
maceto
Posts: 97
Registered: ‎07-17-2012
0

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

How did you get the JP Morgan Palladium? As earn the same as you.. Don't you need a ton of cash to pull that off? Why there is more to your story than just credit score and income
Regular Contributor
omskillet
Posts: 118
Registered: ‎01-04-2012
0

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


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. 

Frequent Contributor
xiownthisplacex
Posts: 260
Registered: ‎08-29-2011
0

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


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.


Starting Score Myfico EQ: 676 08/11/2011
Current Score: Amazon EQ Pull: 781 Walmart TU08: 782 AMEX EX Pull: 745 08/03/2014 Goal Score: 780+
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