Mini app spree = 3 approvals!

Anonymous · ‎12-29-2016

Hi all! I've been lurking for several months now, and this is my first official post. You have all been incredibly helpful and inspiring! The shortest version of my story is I was a spoiled moron in school and allowed a student loan to default, and unfortunately literally have never had any other credit (was an AU on dad's cards in HS & college, always paid cash for cars). Last year at age 30, I finally rehabbed the loan, and that was completed in October of this year. Because I had NO credit otherwise, I was in the high 400s for years, and just the loan rehab brought me up over 100 points. In November, I became an AU on hubby's Chase Freedom Unlimited and Citi DC cards, and that brought me up another 50ish, and as of last week I'm sitting at 668 FICO 8 (via creditchecktotal). I went on a mini app spree today and was approved for Kohl's ($300), Amazon store card ($800, and already Prime user and frequent shopper), and US Bank Cash+ VS ($1,500, and not sure if it makes a difference but I have one of my business checking accounts with them). I did not pre-qual for any CapOne cards, but from what I've read, that is likely because I have such extremely limited credit history?

I am OVER THE MOON! I have been patient, though it has been incredibly difficult and torturous, and I am finally seeing it pay off! I know to nurture these cards extremely carefully for now. Any tips/advice from here? I often read about people asking for CLI's immediately...in my situation, should I do that or take what I got and hang out for 6 months before asking?

Anonymous · ‎12-29-2016

Welcome to the forum!

You could ask for a cli on Amazon, they may give you an increase now or may want to see how you handle your account for awhile. As for next steps, I would just hang in the garden for about 6 months and nurture your new credit.

Khalifa_Jayy · ‎12-29-2016

Congrats on the approvals. That is a great mini-spree. Grow those babies with dilligence and you'll reap rewards in no time. I asked for a Prime Store Card CLI immediately through C/S and got it approved. I was initially at a SL of $1,400 so I called and asked for $10k. They countered at $4k and I happily accepted.

Good luck!

CreditXpert Scores: EX [672] | EQ [681] | TU [677] | American Express FICO 8: EX [698]

TOTAL CREDIT LIMIT:

FICO:

CREDIT AGE:

Anonymous · ‎12-29-2016

Congrats on the approvals, especially the U.S. Bank, very nice indeed! You've put in a lot of hard work, and I'm glad you're being rewarded for it. I would garden for a while. It is helpful to have a plan for which cards you want to end up with, that way it helps lessen the urge app since you have targeted goals. Oh, and welcome to the forum!

grillandwinemaster · ‎12-29-2016

Hey Arizona, congrats on your credit growth! Very nicely done.

As others have said, definitely garden for at least 6 months. Have a plan in place and stick to it. Personally, I would stay away from any more store cards. In 6 months to a year, you very well could be prime territory.

Best credit wishes to you!

Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017

Anonymous · ‎12-30-2016

Thank you all so much for the encouragement! How do I plan for a "goal card?" Is this generally a card that interests me based on its benefits etc?

@Khalifa is there rhyme or reason to asking for Amazon cli? I did some searching but couldn't find much of a "formula"

@grillandwinemaster the ONLY store cc I'd be interested in is Target, as I shop there weekly, sometimes twice a week, so the 5% and special coupons/offers would actually be of interest to me. I've heard they are extremely hit or miss though, so I was planning to wait several months on applying regardless.

Anonymous · ‎12-30-2016

@Anonymous wrote:
Hi all! I've been lurking for several months now, and this is my first official post. You have all been incredibly helpful and inspiring! The shortest version of my story is I was a spoiled moron in school and allowed a student loan to default, and unfortunately literally have never had any other credit (was an AU on dad's cards in HS & college, always paid cash for cars). Last year at age 30, I finally rehabbed the loan, and that was completed in October of this year. Because I had NO credit otherwise, I was in the high 400s for years, and just the loan rehab brought me up over 100 points. In November, I became an AU on hubby's Chase Freedom Unlimited and Citi DC cards, and that brought me up another 50ish, and as of last week I'm sitting at 668 FICO 8 (via creditchecktotal). I went on a mini app spree today and was approved for Kohl's ($300), Amazon store card ($800, and already Prime user and frequent shopper), and US Bank Cash+ VS ($1,500, and not sure if it makes a difference but I have one of my business checking accounts with them). I did not pre-qual for any CapOne cards, but from what I've read, that is likely because I have such extremely limited credit history?

I am OVER THE MOON! I have been patient, though it has been incredibly difficult and torturous, and I am finally seeing it pay off! I know to nurture these cards extremely carefully for now. Any tips/advice from here? I often read about people asking for CLI's immediately...in my situation, should I do that or take what I got and hang out for 6 months before asking?

Your progress is inspirational. I would probably wait the six months to show excellent usage and payment history, but that is just me. That alone will raise your scores. Keep your utilization below 10% and more good things will happen. Congratulations on a plan well executed! It is never too late to begin again! Many of us in the forums have done similar things. Welcome to MyFico!

JoeLuvsHisCredit · ‎12-30-2016

Congrats on the approvals.So happy for you