Amex BLUE and Discover More Declined.... :(

[Percy]

I have very low utilization...  but unfortunately my Macy's Revolving card showing 4 late payments in 2005 and Capital One 15 Late payments in 05 are effecting this completely Which im trying to remove off my credit report...

Anyone know how much will be deducted off my score apping for these? experian and Transunion was used...

TU: 686   EQ: 662  EX: 675

[haulingthescoreup]

Oh, golly, yes, you don't want to apply for good cards with 19 lates showing.

How many existing inqs, within the past 12 months, show on your EX and TU reports? Your score only looks at the past twelve months' worth, not the 2 years' worth that display on your full reports.

You don't automatically get a ding for every new inq. It's more like no ding for the first, maybe 5 points for the second, no ding for the third and possibly fourth, another 5 points for the 4th-5th, and so on. If you've been going ape and have a dozen or something crazy on each report, then these might not hurt at all.

There is no extra score loss for being declined. All that you will (potentially) see is a ding for the inqs.

[Percy]

TU

Inquiries that may be affecting your FICO® score

Total: 5 Times

Date Company making the inquiry June 30, 2009 Gemb/Paypal Buyer Credit June 26, 2009 Gemb Money Bank/Amazon P March 03, 2009 Barclays Bank Delaware January 21, 2009 Discover Financial Svcs January 10, 2009 Hsbc/Neimn

EXP

You have 12 Hard Inquiries on your Credit Report

[Percy]

See the funny thing is i had an AMEX Blue Rewards card.... and they canceled it after i PIF..... reason being prior delinquincy.... can someone assist me in GW"ing cap one and macys? i have a macys letter written but i dont know if its good enough and i would love to get some help from pros i am not very good at writing letters. I will post the Macy's GW Letter if you guys mind reading it...

[haulingthescoreup]

---

Abester000 wrote:

TU

Inquiries that may be affecting your FICO® score

Total: 5 Times

Date Company making the inquiry June 30, 2009 Gemb/Paypal Buyer Credit June 26, 2009 Gemb Money Bank/Amazon P March 03, 2009 Barclays Bank Delaware January 21, 2009 Discover Financial Svcs January 10, 2009 Hsbc/Neimn

EXP

You have 12 Hard Inquiries on your Credit Report

---

OK, I doubt that you'll get any FICO score loss on EX/ Experian (not that you'd have any way of knowing it), and maybe you won't get one on TU.

[Percy]

Hauling.... so what do u recommend i do with both Macys and Cap 1?

[creditwherecreditisdue]

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@Abester000 wrote:
Hauling.... so what do u recommend i do with both Macys and Cap 1?

---

Not much you can do other that try to GW away the lates.

There has to be something other that the lates holding your scores down - any ideas?

I have 13 lates reporting - 7 on one account and 6 on another, most recent July 2005. My FICO's are 700+. With these lates reporting I have app'ed for and received (since April 2008):

     BofA Amex

     PenFed Platinum Cash Rewards (#1)

     Discover More

     Citi Diamond Preferred

been invited to accept:

     Macy's Visa (already had store)

and extened by pre-app offer and accepted:

     PenFed Platinum Cash Rewards (#2)

There has to be something else going on with you CBR's.

[haulingthescoreup]

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Abester000 wrote:
Hauling.... so what do u recommend i do with both Macys and Cap 1?

---

How bad are the lates? If they're all 30's, then you might have some 'splaining to do to future lenders, but from 2005, they're not hurting you incredibly.

But if you've got 90's and older (60's if you had any less than two years old), you're in a serious derog score bucket, and that definitely hurts you. All you can do is keep GW'ing (goodwilling) them, but I've read that Cap One will only do a one-time GW on a recent late. With Macy's, I have no idea --check other threads about Macy's GW. I had a four-year-old 90 on J.Crew/ WFNNB, and bless their hearts, they removed not only the 90 but the other associated string of lates. I gained 35-40 points on EQ (forgot the exact figure), because that was my only serious derog, and I moved to a clean(-ish) history score bucket.

If they won't GW, you just have to sit back and tough it out. In the meantime, learn about how to minimize your reported util while still using your cards responsibly. When you look at screen two on a FICO score report from EQ or TU (not one from a credit monitoring service like TrueCredit or freecreditreport-dot-com), what are your negative score factors listed, in order? These are the items that are holding down your scores, with the most significant listed first.

[creditwherecreditisdue]

I forgot to included in the foregoing that both of the TL's I have with reporting lates have serious derog lates: The one account has 1 60-day late and the other has 1 120-day late, 1 90-day late and 2 60-day lates,

[Percy]

so creditwherecreditisdue what do you recommend i do? can i show u all my CBRs from all 3 agencys for assitance? any help will be great.

Message Edited by Abester000 on 09-17-2009 11:46 AM