710 score and Zero Credit Card Approvals?HELP

[MountainHiker]

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@OilFieldEngineer wrote:

I think that your leaving out one very important factor if the debt relates to the financial institution or is a company acquired by a prime lender that your applying with it can disqualify you from an account no matter how old the debt. 7 years does not matter if you defaulted on an account with the lender or a company they bought. It is their right to internally black list you. Thats why I advocate making amends on the debt if it is a lender you are going to seek credit from. If you dont see yourself doing business with the lender in the future then I would just let it fall off the report with no action. 

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Sound advice ethically and in practical terms.I want to pay off all past lenders.

[MountainHiker]

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@OilFieldEngineer wrote:

I know from personal experience I had an almost 28K charge off from Chase that by some string of luck I never was sued on every forced to pay for 7 years fell off my report and I had to bite the bullet and pay it off if I ever wanted to do business with Chase again. Oddly enough I was denied out of the gate after applying but after recon and brining up a past mistake and the actions that I took by making it right when the SOL had expired it got me a really nice limit and second chance. In short you can not run from your debts the best course of action is make it right. 

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We think a like!!

[MountainHiker]

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@tinuviel wrote:

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@MountainHiker wrote:

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@Burned2manybridgesB4 wrote:

Did your score come from eqifax directly, or here from SW?

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Btw, my one and only collection falls off in march 2013.I know these wounds are self inflicted but they are nevertheless frustrating!!

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FWIW, I know what you're experiencing. I had a couple of old CO/CAs on my reports and was denied by BoA and Citi last October. The derogs was the only reason listed by both lenders. I sat back and waited 10 months, and once the derogs were gone I tried again. The result -- approved for the exact same cards with very nice limits. I know that March seems a long way away, but take heart -- there really is light at the end of the tunnel.

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You really gave me a lot to think about and it helped me bring into focus what my goal is.I want a prime credit card, and to get it I must have a clean credit report. I think what I will work on first is getting Wells Fargo to transform my secured card over to a unsecured card at the one year mark.That way the card will show up on my credit as being a regular visa card and one year old.I think that is smarter than most of the other choices out there. It will establish me in a concrete way.I would not mind going after a Walmart card but there is a possibility that I would get approved for a Walmart card and not the Discover Walmart card. Risky.

Again,Thanks!

[bichonmom]

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@MountainHiker wrote:

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@acrylic51 wrote:

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@MountainHiker wrote:

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@Cdnewmanpac wrote:

You are focusing on "one". You should be focusing on "unpaid". That is why you are being denied. If you want cards from prime lenders now, pay the collection. A 6.5 year old paid collection isn't going to result in nearly as many denials. Plus, from your own post, I count at least 4 unpaid collections, only one of which is still on your report. If you really want a chase or Amex card, why not call them up and pay them? 

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Have contacted the collection agency to do just that pay off the debt.Problem is that can restart the debt and it will remain on my credit report for additional years. Better to let it fall off time expire then pay off the debt.They get their money and I protect myself moving forward. And yes I know why I'm being denied but trying to improve my position despite that problem.

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Total newbie here, and might be totally wrong, but paying off the old debt won't restart extend the reporting period.....The DOFD doesn't change, so the fall off should/would be the same.....Someone correct me if I'm wrong......

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It can be restarted have been told that by a few credit analysis folk. Can't risk doing that.

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This is completely untrue.  However, you could try to PFD (pay for delete). Get it in writing. Many people on the forum have been successful at getting negative info removed that way. I'm not really clear if the old Chase, etc. accounts are the ones with CA, or if the CAs are different. I'd probably wait-out the CA, since you only have a few more months. But if you would like to get back in w/Chase, etc., then you'll have to pay or wait at least 10 yrs. (Some people have been unblacklisted after a LONG time.) So, those are the ones that I'd try to PFD, if they're showing up on your CR.

[bichonmom]

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@tinuviel wrote:

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@MountainHiker wrote:

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@Burned2manybridgesB4 wrote:

Did your score come from eqifax directly, or here from SW?

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Btw, my one and only collection falls off in march 2013.I know these wounds are self inflicted but they are nevertheless frustrating!!

---

FWIW, I know what you're experiencing. I had a couple of old CO/CAs on my reports and was denied by BoA and Citi last October. The derogs was the only reason listed by both lenders. I sat back and waited 10 months, and once the derogs were gone I tried again. The result -- approved for the exact same cards with very nice limits. I know that March seems a long way away, but take heart -- there really is light at the end of the tunnel.

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+1  I had the same experience. I had a 6 yr old CA, and that last year seemed like an eternity. Now, everyone tells me what great credit I have!

[MountainHiker]

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@bichonmom wrote:

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@tinuviel wrote:

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@MountainHiker wrote:

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@Burned2manybridgesB4 wrote:

Did your score come from eqifax directly, or here from SW?

---

Btw, my one and only collection falls off in march 2013.I know these wounds are self inflicted but they are nevertheless frustrating!!

---

FWIW, I know what you're experiencing. I had a couple of old CO/CAs on my reports and was denied by BoA and Citi last October. The derogs was the only reason listed by both lenders. I sat back and waited 10 months, and once the derogs were gone I tried again. The result -- approved for the exact same cards with very nice limits. I know that March seems a long way away, but take heart -- there really is light at the end of the tunnel.

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+1  I had the same experience. I had a 6 yr old CA, and that last year seemed like an eternity. Now, everyone tells me what great credit I have!

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The last 7 months will seem like it's barely moving.But, it is allready one day away from september and the new year happens in a few months.Have to rember that when I feel impatient. Truth is all I want is a couple primers.Citibank and Discover would be excellent.