09-27-2009 06:42 PM
09-27-2009 07:02 PM
Honestly, I would let these accounts age for one year. Again, your history is insufficient and that will be a red flag to prime lenders, in my opinion. I don't see an approval for a 10K credit line with your history.
Unfortunately, there are no guarantees. The only way to find out is to apply.
Keep PIF and you'll get there just as the rest of us have.
09-27-2009 07:09 PM
before I apply to Kroger123, I would like to add that I have already applied there in June, 2009 (when i my score was in high 500), I would also like to add the following info regarding my EQ profile:
(copied from TrueCredit )
Alert Type Date Description
New Inquiry 06/23/2009 HSBC BANK NEVADA
New Inquiry 06/20/2009 KROGER
New Account 06/08/2009 CEFCU/PEORIA
New Account 05/29/2009 MACYS/DSNB
New Inquiry 05/18/2009 FINGERHUT/CIT BANK
New Account 05/08/2009 FIRST PREMIER
New Inquiry 05/05/2009 DIGITAL FEDERAL CREDIT UNION
Shall i apply again to Kroger?
09-27-2009 07:12 PM
I have always ( though i really do not have a long history) PIF on all credit accounts.
I guess, for an approval from a prime lender i have to wait.
09-27-2009 07:31 PM
Thanks for your timely reply. I was just about to start my kroger application.
I wasnt really aware of the thumb-rule you mentioned either. Somehow, it seems i am obsessed with all this credit business.
I have just moved-in to US (about an year ago), earn reasonable , but it really frustrates me that i dont own a card with a reasonable CL (like 10k or more).
I really am running out of patience to have a card with good CL. But this time, i am being cautious , and with the help of you guys I not committing any stupid mistakes (like i did in the past, applied blindly to 10s of card companies with-in a wee).
I am learning the ropes.
all-in-all i am not applying at the moment, but do not know when i would yield to my temptation and end up applying again.
Thanks so much guys!
09-27-2009 09:04 PM
09-27-2009 10:20 PM
I have poured almost every relavent bits of information i could have about my credit profile, and i just thought may be someone at the forum could suggest me a card i could get without a denial.
I have glued myself for more than 2 hours on this forum just waiting for some home. And i sincerely thought some one could analyse my case and could help me.
Now, i guess, i cant be approved for a card at this point with 100% assurance.
Still, if anyone could suggest me anything, i would be grateful.
You want an affirmation. I am sorry we cannot give it to you.
No one here, that I know of, has that ability to grant credit to anyone other then personally loaning you money.
Your accounts are under a year. NOT EVEN A YEAR, and you have a lot of them.
You kinda took your options already.
STOP APPLYING FOR CREDIT.
LET YOUR ACCOUNTS AGE TO A YEAR PLUS.
Choose carefully and after maybe 18 months you can get a more "meaningfull" card.
But right now you have what you have and it looks like you have enough to my eyes.
09-27-2009 10:36 PM
Impatience and credit are a bad mix. Credit, by its very nature is "time tested" borrowing. You must establish a history of paying and responsibly using what you have. If you want a $10,000 card, then you will need to deposit $10,000 into a savings account with a CCC who issues secured cards up to that limit. This would include Bank of America, Amalgamated Bank of Chicago and Navy Federal Credit Union (if you can qualify membership) as three I can think of off the top of my head.
But nobody, especially in this credit climate, is going to issue a $10,000 unsecured card to such a short history, number of new accounts and inquires and FICO.
Credit issuers ended up in the boat they are in by not following those guidelines for a period, and now we all are paying the price.
Have patience, use the credit wisely, pay on time, PIF, and you will eventually have the credit you need. But I can tell you this, it is better to have $10,000 in savings than $10,000 in credit. While you wait for your credit to age....work on your savings. Having cash reserves and emergency funds are a HUGE part of credit. This provides stability if unexpected expenses, job loss, medical crisis or other life event occurs.