Credit Line Increase denied due to unaccurate reporting, please help

[Anonymous]

Hello,

I am new to the forums so please bear with me if I am not up to speed about this process. I have had some negative tradlines associated with my credit from about 2006 until about 2010. Over the years I have been able to pay of all my debt and my score was about 638 when I checked two months ago. I have been working with Sky Blue Credit to help me and so far have gotten 2 negative items deleted in 2 months along with paying off in full all previous balances and I recently checked my score and it is about a 718 which is great (I am assuming this happened because of the deletions and balance pay offs from these past two months).

I have a few issues: A few months ago I asked Citi for two credit line increases within 1 month of each other (back when it was 638 and I know this was stupid of me) and they have denied this twice due to derogatory items on my credit report. My limit with them is only $500. These hard pulls did show up on my credit. But two months later (presently), my credit improved to 718 as mentioned above and some derogatory.negative items have been deleted. I was wondering is there a way I can ask for another CLI and somehow have the two old hard pulls taken off? Since Sky Blue will continue to help take off megative items on my credit, what is a good way to maximize my chances of getting a CLI? since the credit agencies have deleted some items and plus I asked for the CLI when I had low credit with negative items. What is a good way to approach this situation?

Another issue, about a month and a half ago (when my credit was 638) I applied for a Capital One Secured CC because Sky Blue recommended I have at least two credit cards currently open (Citi and Capital One). I have been approved for a $200 limit with the minimal $49 deposit. I added another $100 to the deposit to make my card limit to $300. Presently since my score went up, I am now wondering if I waited to apply for the Capital One, then maybe I could've have gotten a better card with a higher limit and probably no deposit. Thing is my score went up since I applied and is there anyway I can have them (capital one) look into changing the status of the card to a unsecured regular card with a higher limit since my score went up? What is a good way to go about doing this.

Is there a way the credit reporting agencies can send updated credit reports to both Citi and Capital One since my score went up significantly and have both citi and capital one re-evaluate my application and score? Also is there a way I can have the credit reporting agencies just show two hard recent pulls, one for the citi credit line increase and one for the new secured Capital One card? The Citi Card and Capital One Card are the only two credit cards I have currently (Capital One limit is $300 and Citi Limit is $500). I want more credit and I need more of a credit limit for both of these cards because I am in a financial position now to purchase bigger items.

I want to continously improve my credit as next Spring I am looking to purchasing a car under my name. Also within the next 6 months I would like to open up another credit card, maybe an Amex blue or something.

Any help to the above situations and overal credit tips/maintenance would be helpful. I apologize if the summaries above are incoherent, I am very confused with this situation and don't know how to approach it.

Thanks for all your help in advance. Charlie

[LS2982]

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@Anonymous wrote:
Hello, I am new to the forums so please bear with me if I am not up to speed about this process. I have had some negative tradlines associated with my credit from about 2006 until about 2010. Over the years I have been able to pay of all my debt and my score was about 638 when I checked two months ago. I have been working with Sky Blue Credit to help me and so far have gotten 2 negative items deleted in 2 months along with paying off in full all previous balances and I recently checked my score and it is about a 718 which is great (I am assuming this happened because of the deletions and balance pay offs from these past two months). I have a few issues: A few months ago I asked Citi for two credit line increases within 1 month of each other (back when it was 638 and I know this was stupid of me) and they have denied this twice due to derogatory items on my credit report. My limit with them is only $500. These hard pulls did show up on my credit. But two months later (presently), my credit improved to 718 as mentioned above and some derogatory.negative items have been deleted. I was wondering is there a way I can ask for another CLI and somehow have the two old hard pulls taken off? Since Sky Blue will continue to help take off megative items on my credit, what is a good way to maximize my chances of getting a CLI? since the credit agencies have deleted some items and plus I asked for the CLI when I had low credit with negative items. What is a good way to approach this situation? Another issue, about a month and a half ago (when my credit was 638) I applied for a Capital One Secured CC because Sky Blue recommended I have at least two credit cards currently open (Citi and Capital One). I have been approved for a $200 limit with the minimal $49 deposit. I added another $100 to the deposit to make my card limit to $300. Presently since my score went up, I am now wondering if I waited to apply for the Capital One, then maybe I could've have gotten a better card with a higher limit and probably no deposit. Thing is my score went up since I applied and is there anyway I can have them (capital one) look into changing the status of the card to a unsecured regular card with a higher limit since my score went up? What is a good way to go about doing this. Is there a way the credit reporting agencies can send updated credit reports to both Citi and Capital One since my score went up significantly and have both citi and capital one re-evaluate my application and score? Also is there a way I can have the credit reporting agencies just show two hard recent pulls, one for the citi credit line increase and one for the new secured Capital One card? The Citi Card and Capital One Card are the only two credit cards I have currently (Capital One limit is $300 and Citi Limit is $500). I want more credit and I need more of a credit limit for both of these cards because I am in a financial position now to purchase bigger items. I want to continously improve my credit as next Spring I am looking to purchasing a car under my name. Also within the next 6 months I would like to open up another credit card, maybe an Amex blue or something. Any help to the above situations and overal credit tips/maintenance would be helpful. I apologize if the summaries above are incoherent, I am very confused with this situation and don't know how to approach it. Thanks for all your help in advance. Charlie

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Welcome to the forums!!!

Unfortunately there is no way to retract the HP's you received from Citi.
How long have you had the 2 current CC's you have??

[Anonymous]

The Citi Card I opened as a secured card back in 2010 and as of May 2012 (after 18 months), it transitioned into an unsecured status. So I have had this card for about 20-21 months total now. The Capital One secured credit card was opened up last month.

[LS2982]

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@Anonymous wrote:
The Citi Card I opened as a secured card back in 2010 and as of May 2012 (after 18 months), it transitioned into an unsecured status. So I have had this card for about 20-21 months total now. The Capital One secured credit card was opened up last month.

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I would wait 6 months to ask for a Citi CLI.

It gets your Citi card over 2 years old and makes the Cap1 account look less new.

[Anonymous]

Thanks for your help. 

So there is no way to have my applications re-evaluated with my new score?  If so, that sucks big time.  I wish I asked for the Citi CLI now with the new score and wish I applied for the Capital One Secured card with this new score and maybe I could have gotten a much better rate?

Should I use both cards to near their credit limits for the next 5 mmonths to show the CC companies that I need more credit to make bigger purchases and then a month before I request a CLI from both, bring my utlization back to under 30%?

Should I apply for an Amex in 6 months as well?

Will this be too many hard inquiries around the same time?

[Wolf3]

If you have some extra savings,  I suggest you add to your Capital One secured card.   Put in enough to have the CL you would like to have.  This way you can use your card and it can help you get bigger CL in the future.    Then use both cards for your normal expenses and PIF every month.

I would wait until you have over 6 months of good history before you apply for your next card.    Try the Capital One prequalifier, and when they offer what you want, apply.   In my case, Captial One gave me a bigger CL than the unsecured I had.  

I would wait a year before applying for anything else.

[Anonymous]

Thanks for your response.

I don't think I want to add to the secured card at the moment, I rather them give me a CLI.

Do you recommend I use both cards near their credit limits every month or keep the utilization less than 30%?

The reason I ask is maybe if the CC companies see that I use the cards sparingly, they might give a CLI on their own or if not maybe 5-6 months down the line, if I ask for the CLI, they will see that I have been using the cards greatly and have been PIF every month with no problems.

How long do hard pulls take to go away?  What is the capital one prequalifier?

What if I want to apply for a 3rd card and also finance a car in the next 6-8 months?  Won't all these hard inquiries for CLI, new card and financing a car lower my score significantly if done within a month or so of each other?

Again, thanks! 

[Jlu]

Holy wall of text.

Paragraphs are your friend.

[Anonymous]

sorry about that, I edited the original post

[mmmagique]

First, what was the inaccurate reporting?

Second, you should take the advice that has been given to you. Add to your secured line, and possibly, in the future, some unsecured lenders may offer you the same. You say you are making more money now, so had a few thousand to your card.