Chance of PSECU approval?

[Anonymous]

Wondering what everyone thinks.

MYFICO TU 12/29/2010 673

MYFICO EQ 12/23/2010 634

FAKO Truecred EX 680

AAoA is 3 years on both TU and EQ,

my utilization is was llisted 47% TU and 33%EQ but i will pay all my balances down to a utilization between 1-5% if i apply.

TU says most recent late payment was 3 years 2 months ago

4 inq on TU recently, will have less on EX, EQ is at 12

now when i pulled my scores from truecedit on 12/28/10 TU 678, EQ 658, EX 680

I applied today to join PSECU, in it for the free EX score.  after all the reading about everyone receiving 20k cc limits im a little curious if i have a shot.

Im in the process of rebuilding my credit.  Problem is about 5-7 years ago.  Had a few charge-offs and 2 collections.  1 collection was for time warner for 134, paid as soon as i new i owed them, but has stayed on my report and not off til 7/12. (called today and was told they were going to remove it from all 3 CRA, just now checked my EQ and it is already removed)  Have a medical for 103 that i never paid based on the principal i had insurance at the time, and the drs office used wrong billing code, have disputed and no luck.  So i went ahead and PIF today.  I have a HSBC card from 2005 which is most recent baddie, i paid a settlement on this card a year ago (just checked and isnt under negative info in EQ) And another HSBC card that will leave my TU on 9/12 and EQ on 11/12 for 533.  never paid this one since my other HSBC i paid and it hasnt done me any favors or so i think.  Im a mess i know but in all honesty ive been doing a million times better.  I turned 18 went to college and didnt use or understand the importance of my credit.  

Accounts open and in good standing

2 capital one cards.. 500 cl both.. opened 1 in sept and 1 in nov this year balance btw both is 50 

walmart card opened 11/09 850cl  balance of 75 

Paypal Smart connect  opened 12/10 cl 500  balance of 10

buckle car(clothing store reports cl) cl 300 no balance havent used opened 12/10

macys card does not report high balance was 403 but pif 

I just closed my secured 1000 dollar cc with my cu.  reason is im joining psecu and they seem much better of a cu.

So i guess im just looking for feedback on what you think, im embarrassed about my past but since i found this site 3 years ago im a whole new person.  Back to the psecu, they pull EX so i keep reading and since EX is my best fako score and has the least amount of ing and derog info im actually a little hopeful i might be able to get a decent line of credit and just keep building my credit to the 750 i want one day soon.  I plan on waiting for the medical collection to show up paid and then call and try to get removed if not it will be gone 10/11.  So sorry so long but any suggestions.  and thank you again myfico, changed my life!

[Anonymous]

forgot to mention had a 10k car loan last year that i pif in 6 months and i paid 15k of my 35k student loans of last year if this info is important. and sorry so long.

[laz98]

i just got turned down with an unpaid negative, just my 2 cents.

[Anonymous]

if you dont mind me asking what was your unpaid negative when and how much.  thats crazy i saw a few people with multiple baddies being excepted

[laz98]

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@Anonymous wrote:

if you dont mind me asking what was your unpaid negative when and how much.  thats crazy i saw a few people with multiple baddies being excepted

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yea, i went against my gut instinct & applied, even though i should have waited.  it's over 6 years old, it's for $2k.  old loan.

[Anonymous]

wow, i guess i will be waiting for a preapproval in the mail or just wait about 12 months.  but since they are a cu not paying back a loan might be a little worse than not paying on a cc.  but i have no idea.

[Datx]

From what I have seen so far, you can have old baddies and still get an approval from them. But if you have any unpaid collections still reporting, then its going to be a denial. I forgot which forum it was on, but someone applied for credit and was approved only after PSECU verified the collections on that person's CR was paid.

[Anonymous]

I read that too.. good news is my collections are paid and time warner removed completely from report.  and i will call the medical place in a  day or 2 and give some sappy story about not being able to get a prime rate for a mortgage and see if they can do the same.  also laz98 its pretty crappy that they will accept someone for bk after 5 years but they wont since you have a 6 yr old loan not paid.  anything else they tell you?? any other baddies?? soething doesnt seem right.

[Tazman81]

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@Anonymous wrote:

I read that too.. good news is my collections are paid and time warner removed completely from report.  and i will call the medical place in a  day or 2 and give some sappy story about not being able to get a prime rate for a mortgage and see if they can do the same.  also laz98 its pretty crappy that they will accept someone for bk after 5 years but they wont since you have a 6 yr old loan not paid.  anything else they tell you?? any other baddies?? soething doesnt seem right.

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You have to remember that the reason that banks don't like people to have unpaid collections that are within the statue of limitations is because you can get a judgement against you.  A judgement that may freeze your bank account (which of course cost the bank money because they have to do the leg work to put this in place).  Also the judgement decreases your disposable income because the collector will likely request from the courts that the max percentage be taken from your pay in order to satify the debt.  With a bankruptcy, there is no one coming after you for debt.  It's a one shot thing, and all is done, so as long as you show responsible behavior afterwards, then it's less risky to the bank/cu.

[Anonymous]

thank you that makes perfect since.