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630 FICO App Spree - Surprising Results...

Established Member

630 FICO App Spree - Surprising Results...

Hey all! So I decided to go on an app spree after getting approved for an auto loan, below are the results. Super HAPPY! Smiley Happy

 

  • PNC Bank - Auto loan for $52K - Approved instantly!
  • Chase Freedoom Unlimited - Instantly approved for $4500
  • Captial One Venture - Approved for $5000 - Took 1.5 weeks to get approved! LONG process!
  • American Express BCE - Instantly approved for $500 - Not happy with the limit but they told me it will go up if I have good payment history and use the card.
  • US Bank Cash+ - Approved for $500 - Took 2 weeks to get approved for a very small limit. I hope this grows with me or I will cancel.
  • Discover IT - Denied. I have another IT card which is a secured one. It never has graduated after 2.5 years of on time payments, so I thought I would apply for the regular one. However, no dice. I called to complain and they gave me a $50 statement credit and said they will review my account in the future. Going to give them two more statement cycles to convert card or I'm out.
  • Citi Diamond Preferred - They recently cut my limit from $1000 to $500 after paying the card off! I called to complain and to cancel the card. However, the CSR rep was extremely nice and convinced me to keep it open. She lowered my APR and made my card have 2% cash back for 6 months. She was unable to raise limit but is going to notate that I want a higher limit. I may end up canceling this one soon, too.

Other cards I have:

  • Captial One Quicksilver - $3050 limit
  • Kohls - $2500 limit - Received a CLI from $1500
  • Barclays Rewards - $2500 limit - Received a CLI from $1500
  • Firestone CFNA - $1000 limit - Received a CLI from $800

Useless cards that I just canceled:

  • Fingerhut - $1700 limit
  • Shell Gas - $500 limit
  • Captial One BuyPower - $500 limit
  • CreditOne Bank - $650 limit
Message 1 of 19
18 REPLIES
Regular Contributor

Re: 630 FICO App Spree - Surprising Results...

Did your BCE have verbiage along the lines of maintain a balance for 5 months.

Also, congrats!


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April 2017 FICO 8 Scores - EX 695 | EQ 621 | TU 655
November 2017 FICO 8 Scores - EX 730 | EQ 745 | TU 737
Message 2 of 19
Established Member

Re: 630 FICO App Spree - Surprising Results...


4theLoveofPoints wrote:
Did your BCE have verbiage along the lines of maintain a balance for 5 months.

Also, congrats!


Honestly, I can't remember. I usually like to pay my cards down each month. So I will test the water and see what works best. And thank you!

Message 3 of 19
Regular Contributor

Re: 630 FICO App Spree - Surprising Results...

Asking because I had similar approval parameters in May and I didn’t maintain a balance and I saw no increase in the 5th or 6th statement.

Full disclosure, I grew inpatient and applied for a 61 day CLI. In hindsight, I wouldn’t do it again and it may not be the reason the card ultimately hasn’t received a CLI. Everyone’s mileage will vary.

Just wanted to tell you about my experience. Apparently, the $500 starter Amex cards are difficult to grow. That being said, they did give me another card with nearly six times the limit literal seconds after denying a CLI request for my $500 BCE. All isn’t lost.


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April 2017 FICO 8 Scores - EX 695 | EQ 621 | TU 655
November 2017 FICO 8 Scores - EX 730 | EQ 745 | TU 737
Message 4 of 19
Established Member

Re: 630 FICO App Spree - Surprising Results...

I just got the AMEX BCE with initial limit of $500, and was told I’d have to wait five months to request a CLI.  I don’t recall though that they said I had to carry a balance.

Message 5 of 19
Community Leader
Valued Contributor

Re: 630 FICO App Spree - Surprising Results...

For the Amex program that is similar to CapOne's credit steps, you don't need to carry a balance. You just need to have a balance when your statement closes and pay it prior to the due date. No interest accrues due to the 25 day grace period.

 

And congrats OP! All 3 of your FICO 08 scores were really 630?! Those are impressive approvals.


$500k+ club. | FICO 08 [Nov 2017]: EQ 743 EX 741 TU 743 | World's worst gardener.
Message 6 of 19
Regular Contributor

Re: 630 FICO App Spree - Surprising Results...

Thanks for the clarification. I failed to do even that. It closed with $0 each month for th first 6 statements.


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April 2017 FICO 8 Scores - EX 695 | EQ 621 | TU 655
November 2017 FICO 8 Scores - EX 730 | EQ 745 | TU 737
Message 7 of 19
Community Leader
Valued Contributor

Re: 630 FICO App Spree - Surprising Results...


4theLoveofPoints wrote:
Thanks for the clarification. I failed to do even that. It closed with $0 each month for th first 6 statements.

Was that because you made mid-statement payments to have it report at $0, or did you really not use it at all?  Essentially they want to see payment history, so even going the PIF before statement cuts to report at $0 should work. But certainly not using the card at all for 6 months doesn't show them a pattern of responsible payment history.


$500k+ club. | FICO 08 [Nov 2017]: EQ 743 EX 741 TU 743 | World's worst gardener.
Message 8 of 19
Highlighted
Regular Contributor

Re: 630 FICO App Spree - Surprising Results...

I used it a great deal for a while and yes I did make multiple mid-statement credits to have it report at zero but also to keep it from going over the minuscule limit.

It’ll grow eventually. I’ll be patient. Finally. Lol.


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April 2017 FICO 8 Scores - EX 695 | EQ 621 | TU 655
November 2017 FICO 8 Scores - EX 730 | EQ 745 | TU 737
Message 9 of 19
Senior Contributor

Re: 630 FICO App Spree - Surprising Results...

Venture approval of 5k with a 630 score? Seeing Cap1 does a triple pull, what were your FICO's for each bureau?
NFCU Platinum $7300- AMEX BCP $9000- PenFed Power $11000- Chase FU $11700- DCU Platinum $15000- Care Credit $15000- AMEX EDP $15000- NFCU CLOC $15000- Chase CSP $18900- Discover IT Miles $20000- Penfed Promise $25000- NFCU Go Rewards $27100- Venture $28750 **As of 12/9/17** EX- 756(16) TU- 775(15) EQ- 742(15) UTI 8%- Clean Files
Message 10 of 19