How did I do? Recent CLI's & New Cards

Anonymous · ‎08-31-2017

Hi everyone!

Long time lurker here who has finally climbed out of a little hole and is beginning to build a decent credit portfolio. I recently paid off $8,000 of credit card debt and the next cycle my scores skyrocketed, as did my income next to a new job. I wanted to take advantage of this opportunity and apply for more reserved cards, and I think I did pretty well! What do you guys think?

About me:

Age: 25
Income: $115,000
Scores: 702 Equifax, 728 TransUnion, 687 Experian

AAOa: ~4 yrs. Longest open for 7 years.
MIX: Student loans, Car note, 0 credit debt.

Recent Changes:

Today I went for:

American Express Everyday Cash Card: APPROVED for $2,000
Chase Freedom Card: APPROVED for $4,000

Discover IT Card: APPROVED for $10,000

CareCredit CLI: APPROVED. Went from $500 to $15,000.

I currently have a Capital One Quicksilver card that is @ $900. Tried to get this up/apply for a Venture One, but got 7-10 days for the CLI & a denial for the new card. So in total, looks like I did pretty well considering 3 of 4 attempts yielded good results? I'm sure 2 or 3 were HP's. Given my success, do you guys feel this was still a successful outcome?

Apologies for the questions. I'm still relatively new to all of this and can't help but feel a little guilty about the inquiries, but I have plans to buy a home in the next 2-3 years, so I 'm just doing what I can to build a strong profile/history.

Thoughts/opinions/advice?

Note: If I was interested in having some of my current cards reviewed for a CLI (I.E. Home Depot that's at $3,500), would now be the time or should I just hold off given my above success? Thank you everyone!

Anonymous · ‎08-31-2017

You did well.....Congratulations. Time to hit the garden and watch all of your success grow (something I did not do while rebuilding and I wish I had). It will put you in a better positon for that upcoming mortgage. Good Luck and congrats again!!

Anonymous · ‎08-31-2017

Thank you! Makes me feel a little better, lol! Might perhaps you explain your analogy? I'm assuming you just mean keeping them active, but balance low and "farming" for a better score? Again, I'm a noob. Haha.

Also, any input on the CLI for existing cards while I have this advantage? Or do you think it would be best to stop here?

Anonymous · ‎08-31-2017

Congratulations!

Anonymous · ‎08-31-2017

I couldn't find the edit option (lol), but here is a little update!

My Home Depot CL was increased from $3,500 to $18,500!
Macy's from $1,000 to $8,000!

I was unfortunately NOT approved for a Citi Best Buy card. Not looking forward to the inquiry dings, but excited to start building this credit! Any advice on how to keep them active (a smart way?).

Total80sKid · ‎09-01-2017

Congrats and that is an excellent haul!

The garden is where people do not apply for any new credit for a period of time, such as 6 months, etc.

SP CLI requests are fine, though.

There's a whole thread in the Credit Applications subforum.

Again, congrats!