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10-14-2010 01:01 PM
I have been working on my credit for a little while now. I started with First Premier 10/8, bought a new car 5/09- financed through Chase (620+/-) score, bought a house (661 med score) in 2/10 - thinking I was hot stuff so I applied for Chase and State Farm. Both No. I did get a Cap One ($750), an Orchard ($300) and a Kohls ($400)and ditched the FP ($525). I called Chase because I was sure I would get that since I had my car for almost a year but i was told I needed to rebuild credit a little longer.
So now with 9-10 inquiries and a 662 EQ/658 TU score - down from 675 and 662 after the app spree (car, credit cards and 3 different mort pulls because I did a short sale and they kept repulling my credit between Oct when I was approved with the first and second mort companies and Feb when I closed.) - I sit and wait but I'm wondering what I'll need next winter to get approved with Chase. I don't think Orchard will go anywhere and when I'm in a better situation I would like to replace them with a major that will grow since they are my youngest and lowest.
10-14-2010 01:16 PM
Wait until you crack 700, you'll have a much better chance. Chase is kind of sensitive to new accounts, so try not to open any more.
10-14-2010 01:19 PM
Thanks! Nope, no more new accounts for at least a year. And if i can't get into a no AF card (Chase) that will grow by then I won't do anything. I'm hoping I can CLI my Cap One eventually.
10-14-2010 01:45 PM
A CLI from capital one is pretty much the next thing to a miracle.
But congrats on your new home and new credit cards. I also just bought a new home, mortgage is with Chase, so I am hoping eventually they will find it in their hearts to lend me a credit card.
10-14-2010 01:55 PM
Good luck with Chase. I was hoping my car would drag me in under the radar but nope.. at least not as of last April. I'll try again after the inquiries lose their power and I get a little boost. I have a paid collection that falls off my report in April 2011.. the only one on 2 of my 3 reports. Hopefully that will help things too.
Yeah I got 250 as part of credit steps with Cap from $500 .. woohoo. *eyeroll* I'll keep hoping. I don't need it but it would be nice to know it's there.
Congrats on your home! My mort is with Wells Fargo (now.. second lender so far)
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