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Posts: 66
Registered: ‎08-02-2012
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Re: A little stunned, Approved for USAA Visa

Thanks Jetsfan!

 

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

 

NTX

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Posts: 66
Registered: ‎08-02-2012
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Re: A little stunned, Approved for USAA Visa

[ Edited ]

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

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Posts: 7,225
Registered: ‎09-16-2011
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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!



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Regular Contributor
Posts: 203
Registered: ‎07-20-2012
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Re: A little stunned, Approved for USAA Visa

[ Edited ]

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

New Contributor
Posts: 66
Registered: ‎08-02-2012
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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

Moderator Emeritus
Posts: 12,497
Registered: ‎12-30-2011
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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 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Posts: 66
Registered: ‎08-02-2012
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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

 

Established Contributor
Posts: 921
Registered: ‎12-10-2011
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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.

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New Contributor
Posts: 66
Registered: ‎08-02-2012
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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.

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