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A little stunned, Approved for USAA Visa

New Contributor

Re: A little stunned, Approved for USAA Visa

Thanks Jetsfan!

 

Actually I should have said bankruptcy in 2005, not 1995! 

 

NTX

Message 21 of 29
New Contributor

Re: A little stunned, Approved for USAA Visa

As a followup, I was declined for the Chase Freedom card that I applied online for last Thursday the 2nd. . Smiley Sad

 

The letter said "Your credit report reflects a bankruptcy."  Pulled from Experian.

 

Oh well. I saw that they asked about bankruptcy on the Freedom application. I checked Yes to that, so seems like they could have denied it automatically without an inquiry, if that is a cause of denial.

 

Seems strange that USAA didn't mind that for a $3K Visa.

 

My FICO scores on July 17th were:

 

EQ:  679

TU:  686

 

As of today, August 7th, they are:

 

EQ: 684

TU: 688

 

TU is dinging me because I have no recent use of credit, even though I do put things on there all the time. I pay off my Visa every month. Should I do that, then immediately add $20 or so back to it, so there's always some balance?

 

I have 6 inquiries that will fall off for FICO purposes by October 19th.. These were all related to buying a new car last year.

 

Should I apply for a Discover More card  now?  It's not that I want or even need the card itself. Just thought it may help my credit to have a different brand card from a different issuer.

 

Goal is to get a mortgage (FHA, under $75K) later this year or early next year.

 

Thank you,

 

NTX

Message 22 of 29
Moderator Emeritus

Re: A little stunned, Approved for USAA Visa


Juan123 wrote:

Just decided to get my foot into a nice bank and from everything i've heard USAA, NFCU,     And Penfed are the way to go,after getting denied for a CC at penfed,    and not qualifying for NFCU i joined USAA   without even opening a checking or savings account i applied for the USAA Visa.

 

 

 

Yea i know the APR is high but this is BY FAR my highest limit CC. my highest limit card right now is carecredit at $3000 but my highest limit Visa\MC is only $1500 >_< over 4x my highest limit >_<

 

Time to consolidate my other cards!

 

Approved Credit Limit$6,200.00
Current APRs

Purchase APR


23.9% (Prime+20.65%)

Cash Advance and Balance Transfer APR
23.9% (Prime+20.65%)


Very nice CL....  a little high on the APR, but a nice approval nonetheless...  you may be able to get the APR reduced over time.

 

Nicely done!


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 23 of 29
Regular Contributor

Re: A little stunned, Approved for USAA Visa

For some strange reason I assumed your credit scores would be a lot lower! Lol, you being stunned and all. But yes USAA have been approving higher limits recently.

 

Congrats!!

Revolvers: FP Gold $300, FP Platinum $300, Applied Bank Business $500, Kay Jewelers $500, Fingerhut $400, Gettington $300

Installers: KHEAA student loan, Dealer Funding LLC auto loan x2, Crescent Bank auto loan, Acceptance Loan Co personal loan x2

Negatives: 1 collection - 2010 $307, Auto lates - 2 30 days, 60 day, 2009 / 3 30 days, 60 day, 2012

Message 24 of 29
New Contributor

Re: A little stunned, Approved for USAA Visa

Another Update:

 

Applied for Discover More card onlne. Got an "under review" response, and called their number afterwards to expedite, per their website.

 

Spoke at length with a very helpful & friendly credit analyst, was approved for $1,200  Smiley Happy

 

Not their best offer (the one shown on their site), but still, am "in" with another prime card at least (and I confirmed with the analyst that they all report the same to the credit bureaus, which is really all I wanted)

 

NTX

Message 25 of 29
Moderator

Re: A little stunned, Approved for USAA Visa


ntx wrote:

As a followup, I was declined for the Chase Freedom card that I applied online for last Thursday the 2nd. . Smiley Sad

 

The letter said "Your credit report reflects a bankruptcy."  Pulled from Experian.

 

Oh well. I saw that they asked about bankruptcy on the Freedom application. I checked Yes to that, so seems like they could have denied it automatically without an inquiry, if that is a cause of denial.

 

Seems strange that USAA didn't mind that for a $3K Visa.

 

My FICO scores on July 17th were:

 

EQ:  679

TU:  686

 

As of today, August 7th, they are:

 

EQ: 684

TU: 688

 

TU is dinging me because I have no recent use of credit, even though I do put things on there all the time. I pay off my Visa every month. Should I do that, then immediately add $20 or so back to it, so there's always some balance?

 

I have 6 inquiries that will fall off for FICO purposes by October 19th.. These were all related to buying a new car last year.

 

Should I apply for a Discover More card  now?  It's not that I want or even need the card itself. Just thought it may help my credit to have a different brand card from a different issuer.

 

Goal is to get a mortgage (FHA, under $75K) later this year or early next year.

 

Thank you,

 

NTX


Hehe, already a little pregnant on that one and grats too; however, FICO just cares about number of tradelines... and I don't think underwriters really consider DIscover as either a positive or a negative on a manual review.  I suspect for most of the national lenders it's along the lines of "oh, them."

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 26 of 29
New Contributor

Re: A little stunned, Approved for USAA Visa

Thanks, and very true Revelate!   Something about closing the barn doors after the horses are out  Smiley LOL

 

Message 27 of 29
Established Contributor

Re: A little stunned, Approved for USAA Visa

Congrats


Starting Score: 722
Current Score: Now 687 what the hockey sticks...from a 784 (Aug 12 EX 751 EQ Fico)
Goal Score: 800

If your outGo is more than your INcome than your UpKeep will become your downFALL.

Take the FICO Fitness Challenge


Message 28 of 29
Highlighted
New Contributor

Re: A little stunned, Approved for USAA Visa

Thank you JusdoNit!  It's another step at least. I appreciate all the info that is shared here at this forum.

Message 29 of 29