09-13-2012 10:33 AM
I know I'm not in primeville yet, I'm just happy to be in the 600s after tough pregnancy forced us to fall behind on a few things 3 years ago. Anyhow, our highest acct is 800, excluding a citi rewards card I'm an AU on for 9.3k. When my score improves a little more (like 660-700), how to we break out of toy limits? We don't use cards much anymore and since paying them off last month will NEVER get to the point where we can't pay them off easily again..I'd just like to have at least a 1k limit so if something comes up, it's there. I have no desire for the 10k plus limits, or for an American express. Really, all I want is a Walmart for the FICO score, and a chase freedom...and a rooms to go, for our new house
09-13-2012 10:37 AM
What are your current CC ?
When was the last time you were late ?
09-13-2012 10:38 AM
The Walmart card could not only provide you the TU FICO score you desire, but also could be your key to breaking away from toy limits as you mentioned. I myself went the GE route last week because of all of the reading I did on them and how they may give you CLI's every 4 months. So I went on a GE app spree, which included Walmart, and wound up with two cards that were both higher than my highest limit ($750) previously--and that was at the start, so I can't wait to see what CLI's may be heading my way soon. Full wallet in my sig for details--I do sympathize with your situation and I'm hoping the Walmart card helps increase my odds of better limit cards in the future.
09-13-2012 10:43 AM
What are your current CC ?
When was the last time you were late ?
Bbrzmc opened 2/11, merrick opened 6/12 (on advice of LO because I only had the one in my name only), capital one AU opened 5/11, citi AU opened 7/02, credit one AU 8/08 (this one is the first to die).
Last late in 2009, a 30 day on credit one.
NO bk. I'd rather shoot myself in the foot..literally.
09-13-2012 10:44 AM
Your TU score looks good for approval. Walmart pulls from TU. I was just approved last week with a TU 677. Do you have any inquires, liens, judgments or baddies? How long is your credit history?
09-13-2012 10:49 AM
My AAoA is 3 years. Most recent baddies (including 2CO that have been paid) are from 2009. No judgements, etc. we do have a few inquiries. Going thru the dr Horton homebuyers club and they've pulled twice...may and July. Will bepulling again in sept. I think on average across all three reports, I have 3-4 inquiries less than a year old...and two are from dr Horton.
09-13-2012 10:56 AM - edited 09-13-2012 10:57 AM
Who says its a go !!!. Here is my run down. 2 paid judments from 5 years ago from being in business and 1 medical charge off from 4 years ago. My credit history is 8 years old. I also had 4-5 hard pulls on each report. I'm in the garden now.
09-13-2012 11:22 AM
We are in the credit card garden, but not the mortgage one, haha. I won't be adding any new accounts until we're closed and funded, and they repull for approval sept 26th...just thinking long term....
09-13-2012 12:31 PM
In reading the posts, it looks like you have some paid COs on your CR. The first thing to do is try to GW them. You can search on the forum under GW or Goodwill and get some ideas. If you have any unpaid CAs on your CR, then try to PFD. Getting prime cards with good CLs is difficult w/baddies (even paid) on your CR. A paid CO/CA scores exactly the same on FICO as unpaid.
The best way to get out of toy limits is to get a card that will grow with you. Cap Ones are notorious for NOT doing this. Even if you start w/$500 CL with a CC that will CLI, that's your ticket out of toy limit heck. If your current $1k CC is NOT with Cap One, then try to CLI after 6 to 12 mos of use. If it is w/Cap One, then I'd call local CUs and see if someone will work with you to help you rebuild w/a CC -- even a lower limit CC to start, because it will grow wtih you.
It could be helpful to get a GECRB store card, like Walmart, since they CLI every 4 mos *usually*. It's not guaranteed, but most experience that. Even if you start w/$200 or $300 CL, it could be $1000 within a year. They do soft your CR, so CLIs will be based on your current CR plus your history on the card.
Also, you said you only want $1k CL. Something to keep in mind is that if you plan on charging and PIF $1k every month, having a $1k CL isn't really sufficient. First, you're not giving yourself any breathing room. Second, let's say you charge $900 on $1k CL and it reports to the CRAs after the statement cuts. Your FICO is going to tank because it looks like you're maxed out. FICO doesn't distinguish between a CC that's maxed out with min pmts monthly and one that's simply used and PIF every month. So, you may want to either PIF before the statement cuts, so that it reports a 0 balance. Or aim for a higher CL eventually, so if $1k reports on $10k CL, your util is only at 10%.
Other options include making multiple pmts throughout the month so you can push more through a $1k card, but IMO that's kind of a pain, and some CCs have problems and you end up having to push the pmt from your bank instead of pulling from the CC.
And, if you are apping for a new CC or wanting a CLI, making sure the 0 bal reports (with a $1k CL) is even more important. You're likely not going to be approve or get CLIs with a CC looking maxed out on your CR (even tho technically it isn't since you PIF every month).
09-13-2012 03:08 PM
I'd like *at least a 1k, but have no desire to go above 5k,and certainly not above 10k. My baddies are HSBC, which is now cap one. In the process of getting one removed, we will see if it actually happens. We do PIF now, and usually make more than one payment a month..I have apps from the respective companies that make it easier to pay via my phone..I just don't want huge limits like I've seen here, but want bigger than what I have...a middle ground 3-4k would make me happy, but nothing larger. I have no desire to be part of the 100k CL club, even if I do eventually see 800 scores.
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