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Established Contributor
SwiftTone
Posts: 1,026
Registered: ‎02-27-2012
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2012 - Year in Review

2012 – Year in Review

 

As the end of the year is approaching, I thought I would make a thread on what accomplishment  in our credit journey that we have achieved in 2012 and also what we are hoping to accomplish in 2013. It’s always good to reflect on ourselves and set some goals that we can be held accountable for. This is a way that we can grow and mature as a community, and help ourselves and each other.

 

So I will start.

 

Before February 2012, I didn’t really have much of an idea on how credit works. My world of credit at the time was 3 open credit cards. Two from Capital One with CL of $1000 and $1250, and a Chase Slate at $300. I also had some previous card dating back to 2005 that was closed by creditor due to over limit or missed payments. Along with that, in 2009 I had a total of 9 30 & 60 day lates on an auto loan. I thought at the time I was doing well as I didn’t go over the limit and paid at least minimum on time. To give you an idea of how clueless I was, my Capital One card with $1000 had a balance of $900+ for close to a year. I can only now estimate that my FICO score was somewhere around 610-630. Anyways, since then my knowledge of credit has taken a quantum leap.

 

In February, I applied for CSP. I was instantly denied. I did some research and found this board. I reconned 3 times and still was not able to get approved.  After some more searching I realized that I needed to work my credit limits up higher so I’ll eventually be able to get a CL of $5000. I called Chase for a SP CLI but ended up being a HP. I only went to $500CL. Found out that it ended up being a HP so called the executive office to complain and got a CLI to $750 and got the HP recoded as a SP.  I then was added as an AU on my friends $9500CL Capital One and paid my balance to <5%. In April I applied for Discover More and was instantly approved for $3500. I called Chase again about my Slate and got yet another SP CLI from $750 to $4000 all before my Discover started reporting.

 

With my new shiny Discover I entered into garden mode. At the time I was gardening for CSP only but with 6 months of gardening on my hands I just soaked up as much knowledge as I can from myFICO.  Through the months I learned about credit and about different types of credit cards. Eventually I added BCE to my 2 card app spree plan scheduled for October.

 

When October 11th came around, I was reporting <2% utilization and my EQ FICO was 729. I pulled the app trigger on CSP first. Instant approval for $5000. Couple minutes later I pulled the trigger for BCE. Got the 7-10 message. Checked the app status 2 minutes later and got an approval for $5400. Okay, gonna consider this an instant approval. Feels damn good! I started with $3500 on my Discover More which is now $4750. After this was all said and done I no longer needed to be an AU on my friend’s Capital One so I had my friend remove me. In November I PCed my Slate to Freedom on the 1 year anniversary. I’m glad I did as I was grandfather into the 10 & 10 program. I went from $2,550 in credit at the beginning of the year to $21,400 right now.

 

I’ve racked up around $500 in cash back rewards and $550 in sign up bonuses which is still sitting my account. Going to save it for vacation or something.  

 

For 2013 I want my FICO to be all above 760 by the end of the year, and my utilization to be kept  at <5% at all times. I’m planning another round of app spree of 2-3 more cards in April. But before that I’m going to request a CLI for my BCE. Today is actually my 60th day but I will wait until mid January to request my CLI. I probably won’t request the full 3x as I’d be happy to get anything over $10,000, preferably $11,000. After the new limit has reported, I will app. I’ll be gunning for Chase Priority Club mainly for the points and the free night annually. Also I’m looking to app for Citi Dividend which ultimately I want the World Elite MasterCard version. This card would diversify my card portfolio with my banks and also I just really want the benefits of World Elite MasterCard. I have not been able to find out if I can directly apply for the World Elite version. If I do get this card, I’ll be changing my CSP from World MasterCard to a Visa Signature. I haven’t decided on my 3rd card yet but it’ll be either be an AMEX for back dating purposes or whatever card that has an outrageous reward or signup bonus.

 

Also by the end of 2013, I want my FICO to be all above 760 and my utilization to be at <5% at all times.

 

WHEW! That was a long story. I'm glad I found this forum and the members that have helped me along the way.

 

I’m hoping others will share their story and plans.

BCE: $0/$11,200, CSP: $0/$6500, Chase Priority Club: $0/$3500, Freedom: $0/$6000, Barclays NFL: $0/$7000 Discover: $0/$12,500, Citi Dividend: $0/$3500

EQ FICO - 728
TU FICO - 734
EX FICO(AMEX) - 712
Regular Contributor
CotySinz
Posts: 237
Registered: ‎06-27-2011
0

Re: 2012 - Year in Review

[ Edited ]

Congrats on your success this year and hopefully you accomplish your goals for next year.

 

2012 has had it's ups and downs for me. For my the year I struggled to get my util% under control because in Dec of 2011 I was moving from Florida to Ohio for work and overnight we stopped at a hotel and upon waking in the morning my girlfriend and I found that our Uhaul truck, trailer and car upon the trailer - along with all of our worldly possessions were stolen. So we basically had to rebuy all of our clothes and other basic necessities and at the time I hadn't started my new job yet so we had to depend heavily on our credit. Between Jan and July I remained in garden paying util down. Around August I finally got my util back around 10% and decided to app for Discover and Amex but was denied for both as my reports hadn't updated yet to show the lowered util%. In November we thought our Macbook died so we went to BestBuy and I applied for their store card and was instantly approved for $1500 but it turned out only the charger died so I didn't really need the card anymore but oh well. But that instant approval got me thinking so when I got home I checked my Walmart TU and it was a 753. So I decided to re-app for Amex and was instantly approved for a Green charge card and about a week later apped for the Blue Cash Everyday and was instant approved for $2,000 so all-in-all not a bad year for me, excited to be a member of the Amex family - although I wish I woulda apped for PRG instead of the Green but oh well.

 

For 2013 I'm hoping to start out in February with my 61 day 3x CLI from Amex and remain in garden until my 21st birthday in May. Upon the arrival of my 21st I plan to do some drapping because I really want a Discover IT to replace my Cap One with so I can eternally SD it. I also want to grow my current trade lines - mostly Chase which I think I can do provided the 61 day 3x goes well. I also plan to request a CLI from GE/Walmart in May to around a 5k limit - I feel Best Buy and Cap One are lost causes since they are both Cap One products. I don't really have a desire for any other cards at this point other than the Discover IT in May I plan to enter garden until I decide to buy a car or a house. Before my Amex AF hits I'll probably cancel my green charge and maybe get the PRG and see how I like it depending on the sign up bonus at the time. Basically my main goal for 2013 is increase current TLs, garden to get rid of the massive amount of inqs I have, keep better control over my util and get as close to - if not into the 800 club. Only time will tell.


Starting: 563 | Current: 753 (Walmart TU 11/12) | Goal: 800 | Garden since: 01/15/2013

Established Contributor
flowfaster
Posts: 787
Registered: ‎08-30-2011
0

Re: 2012 - Year in Review

How about a recap of major events in the CC industry as a whole. Here are some major ones: US Bank introduces one of the best cards out right now the CASH+. Amex caps the BCP at $6k. Amex discontinues the Zync card. Chase discontinues the Freedom 10/10 bonus.
Amex BCP/BC/Zync - Amex Business GR - Barclays NFL Visa Sig 49ers/Arrival - BoA BBR - Cap 1 Quicksilver - Citi Forward/Preferred - Chase Amazon/Freedom/Ink Plus - Discover IT - Fidelity Amex - GECRB Amazon/Walmart - PenFed PRV - Target - USAA Amex - US Bank CASH+/Club Carlson
Established Contributor
SwiftTone
Posts: 1,026
Registered: ‎02-27-2012
0

Re: 2012 - Year in Review


CotySinz wrote:

Congrats on your success this year and hopefully you accomplish your goals for next year.

 

2012 has had it's ups and downs for me. For my the year I struggled to get my util% under control because in Dec of 2011 I was moving from Florida to Ohio for work and overnight we stopped at a hotel and upon waking in the morning my girlfriend and I found that our Uhaul truck, trailer and car upon the trailer - along with all of our worldly possessions were stolen. So we basically had to rebuy all of our clothes and other basic necessities and at the time I hadn't started my new job yet so we had to depend heavily on our credit. Between Jan and July I remained in garden paying util down. Around August I finally got my util back around 10% and decided to app for Discover and Amex but was denied for both as my reports hadn't updated yet to show the lowered util%. In November we thought our Macbook died so we went to BestBuy and I applied for their store card and was instantly approved for $1500 but it turned out only the charger died so I didn't really need the card anymore but oh well. But that instant approval got me thinking so when I got home I checked my Walmart TU and it was a 753. So I decided to re-app for Amex and was instantly approved for a Green charge card and about a week later apped for the Blue Cash Everyday and was instant approved for $2,000 so all-in-all not a bad year for me, excited to be a member of the Amex family - although I wish I woulda apped for PRG instead of the Green but oh well.

 

For 2013 I'm hoping to start out in February with my 61 day 3x CLI from Amex and remain in garden until my 21st birthday in May. Upon the arrival of my 21st I plan to do some drapping because I really want a Discover IT to replace my Cap One with so I can eternally SD it. I also want to grow my current trade lines - mostly Chase which I think I can do provided the 61 day 3x goes well. I also plan to request a CLI from GE/Walmart in May to around a 5k limit - I feel Best Buy and Cap One are lost causes since they are both Cap One products. I don't really have a desire for any other cards at this point other than the Discover IT in May I plan to enter garden until I decide to buy a car or a house. Before my Amex AF hits I'll probably cancel my green charge and maybe get the PRG and see how I like it depending on the sign up bonus at the time. Basically my main goal for 2013 is increase current TLs, garden to get rid of the massive amount of inqs I have, keep better control over my util and get as close to - if not into the 800 club. Only time will tell.


Wow thats so unfornate that all you belongings got stolen!! I've never heard of such a thing but I bet it happens more often than not. Did insurance cover any of it? I have been living in this country by myself for the last 12 years so if there was a fire at my apartment, it would be a similar situation as yours. I really should get some renter's insurance.

I'm glad that you're able to get back on your feet and congrats on AMEX! AMEXis a great stepping stone to higher limits from what I've read. Also Discover has treated me well aside from not getting me over the $5000 CL mark as I had hoped for on CLI. I also have 2 Capital Ones left but was able to get the fees waived. I will be contacting the executive office to see if they can PC my accounts and give me a CLI.

 

Good luck on your endeavor!

BCE: $0/$11,200, CSP: $0/$6500, Chase Priority Club: $0/$3500, Freedom: $0/$6000, Barclays NFL: $0/$7000 Discover: $0/$12,500, Citi Dividend: $0/$3500

EQ FICO - 728
TU FICO - 734
EX FICO(AMEX) - 712
Frequent Contributor
CreditChampion
Posts: 267
Registered: ‎03-15-2012
0

Re: 2012 - Year in Review

How are you getting soft cli from Chase???

Fico Scores: 763 EQ(12/11/12) 768 TU(12/11/12) ? EX(TBD)
Citi Double Cash 10K PenFed Plat Rewards 8.5K Citi Forward $7.1K AMEX BCE 6K AMEX Zync NPSL(AU) Discover it 5K Wells Fargo Cash Back $2.3K BankAmericard Better Balance $700 Chase Freedom $500 Capital One Quicksilver $6K Capital One Platinum (AU) $500 Capital One Secured Card (AU) $251(Closed)
Frequent Contributor
CreditWorld2013
Posts: 346
Registered: ‎02-01-2012
0

Re: 2012 - Year in Review

[ Edited ]

Before January 2012 I only had 2 student loans from September 2011. So only about 4 months of a loan and no revolving accounts. In January I decided I should start building some credit card history. So...I applied for a Capital One Journey card and got approved for $300 (+credit step enrollment), applied for a Discover More and was approved for $500. I also applied for a Citi Forward card sometime in late January or early February and was approved for $500. I decided it was time to garden the 3 cards I had. After the 5th or 6th statement my Capital One card got a $200 increase via the Credit Steps program.

 

I stayed gardening until last month (November). I decided to ask for a CLI on my Citi Forward and Discover More. They were both increased by $500 for a total CL of $1,000 on each. A few days after I started thinking if my Capital One would ever move after seeing so many stories about them never giving increases. I decided to try my luck and called the executive office. A few days later I was approved for a CLI of $500 as well. So that brought my 3 cards up to $1,000 each. I've been after a Chase Freedom card for a bit so this past Saturday I decided to apply. I was approved for $500 (I didn't think about letting my Capital One and Discover report the increases :smileyfrustrated:) Anyways...I decided yesterday to apply for the Citi Dividend and was approved for $2,500. So my portfolio lookes like this: 

 

1) Discover More - $1,000 

2) Capital One - $1,000 

3) Citi Forward - $1,000 

4) Citi Dividend - $2,500 

5) Chase Freedom - $500 

 

I'm very pleased with the results this past year. After having practically no credit I've gone up to 5 cards within 9-10 months. I can't really say I want any other cards for now. For 2013 I will stay gardening and request increases on the accounts I have.  

Regular Contributor
CotySinz
Posts: 237
Registered: ‎06-27-2011
0

Re: 2012 - Year in Review

@SwiftTone - After doing some investigating I discovered it is actually a pretty common thing - thieves will actually wait just off the highways or will actually follow you on the highway and when you pull off and stop they know they have an opportunity. As for insurance covering it - they covered nothing they were only worried about the Uhaul truck and trailer - not our belongings and vehicle. We are sorta back on our feet, albeit we don't have big screen TVs and stuff like that anymore but we are working toward getting back to that been a hard year but we have all the necessities - the luxuries will come in time. And thanks.


Starting: 563 | Current: 753 (Walmart TU 11/12) | Goal: 800 | Garden since: 01/15/2013

Established Contributor
SwiftTone
Posts: 1,026
Registered: ‎02-27-2012
0

Re: 2012 - Year in Review


CreditChampion wrote:

How are you getting soft cli from Chase???


I'm not sure they do it anymore. I called the executive office for a SP CLI in April. She told me that all CLI from the executive office are SP. In November I called the same rep back to PC my Slate to Freedom and also asked for a SP CLI from $4000-$5000 so I can get a Visa Signature. I was told that she cannot do SP CLI, only HP.

Care to share your story?

BCE: $0/$11,200, CSP: $0/$6500, Chase Priority Club: $0/$3500, Freedom: $0/$6000, Barclays NFL: $0/$7000 Discover: $0/$12,500, Citi Dividend: $0/$3500

EQ FICO - 728
TU FICO - 734
EX FICO(AMEX) - 712
Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
0

Re: 2012 - Year in Review

2012: 525 to 650, CAP1, GE

2013: 700, AMEX.

 

Short and sweet.

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
Established Contributor
SwiftTone
Posts: 1,026
Registered: ‎02-27-2012
0

Re: 2012 - Year in Review


Jutz wrote:

2012: 525 to 650, CAP1, GE

2013: 700, AMEX.

 

Short and sweet.


Wow, would hate for you to tell a bedtime story to my neice lol. :smileylol:

BCE: $0/$11,200, CSP: $0/$6500, Chase Priority Club: $0/$3500, Freedom: $0/$6000, Barclays NFL: $0/$7000 Discover: $0/$12,500, Citi Dividend: $0/$3500

EQ FICO - 728
TU FICO - 734
EX FICO(AMEX) - 712

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