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Valued Member
Posts: 39
Registered: ‎07-29-2010
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Credit card approvals, low limits...

I have recently did some credit soul searching and got all baddies off my credit except for some lates back in 2007 for an auto loan with Wells fargo and a paid judgement from 2004 that is only on exp. Imy score equ- 656 trans-620 exp???? as of Sept2010 ( no update since last 4 collections came off  in the past 30 days), I have gotten approved for capital one 500.00, orchard 500.00 and JC penney 300.00, and a car loan for capital one at $19,000. Any idea what I can do to try to get better CL? Thanks

Moderator
Posts: 17,419
Registered: ‎07-14-2009
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Re: Credit card approvals, low limits...

 


Lynn84 wrote:

I have recently did some credit soul searching and got all baddies off my credit except for some lates back in 2007 for an auto loan with Wells fargo and a paid judgement from 2004 that is only on exp. Imy score equ- 656 trans-620 exp???? as of Sept2010 ( no update since last 4 collections came off  in the past 30 days), I have gotten approved for capital one 500.00, orchard 500.00 and JC penney 300.00, and a car loan for capital one at $19,000. Any idea what I can do to try to get better CL? Thanks


 

If it were me I'd wait awhile before I applied for any more credit. Wait and see what happens when your reports reflect the collections being gone. The judgement will be gone 7 years from the filing date so you'll have that off your record sometime next year.

 

What kind of lates are you talking about from 2007? 30 days late? 60? 90?

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Valued Member
Posts: 39
Registered: ‎07-29-2010
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Re: Credit card approvals, low limits...

marinevietvet,

 

It was 2 30-day, 2 60-day, and 1 90-day late during a my pregnancy with my son, I was taken off work and had to live off 200 a week, due to long term disability for almost 10 months which depleted my savings. No excuses, but a situation I did not see coming at all, but every since then I have not been late, sometinmes double paying, which the car will be paid off as of July 2011, I have been gw Wells Fargo with no lead way.

Moderator Emerita
Posts: 3,091
Registered: ‎08-09-2008
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Re: Credit card approvals, low limits...


Lynn84 wrote:

I have recently did some credit soul searching and got all baddies off my credit except for some lates back in 2007 for an auto loan with Wells fargo and a paid judgement from 2004 that is only on exp. Imy score equ- 656 trans-620 exp???? as of Sept2010 ( no update since last 4 collections came off  in the past 30 days), I have gotten approved for capital one 500.00, orchard 500.00 and JC penney 300.00, and a car loan for capital one at $19,000. Any idea what I can do to try to get better CL? Thanks


I agree with marinevietvet. I'd stop apping, and let the newness wear off of the current accounts. In 6 to 12 months, I'd carefully measure 1 more app, possibly with a credit union, or a fully secured card (I can determine the credit limit) to get a higher limit. Then, back to the credit garden to either let the baddies fall off on their own, or to work on cleaning them up (if possible), and to let the score rise.

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Moderator
Posts: 17,419
Registered: ‎07-14-2009
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Re: Credit card approvals, low limits...

 


Lynn84 wrote:

marinevietvet,

 

It was 2 30-day, 2 60-day, and 1 90-day late during a my pregnancy with my son, I was taken off work and had to live off 200 a week, due to long term disability for almost 10 months which depleted my savings. No excuses, but a situation I did not see coming at all, but every since then I have not been late, sometinmes double paying, which the car will be paid off as of July 2011, I have been gw Wells Fargo with no lead way.


 

You don't have to explain. Real life has a way of humbling all of us.

 

The 30 and 60 days lates are quickly fading as far as damage to your score but they will still be there for all the world to see for the entire CRTP. The 90 day late though is considered a major derogatory and it might be worth it to attempt a GW early removal of this. You can try of course to get all the lates removed but concentrate on the 90 day.

 

If you do write a GW letter be sure and make it clear that you only want the late payments removed from your reports and not the entire TL.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Valued Member
Posts: 39
Registered: ‎07-29-2010
0

Re: Credit card approvals, low limits...

Thank you all, I am going to not do any apps for a year and use 1 cc for my gym membership and the other for my mobile bill & PIF each before each cycle. Thanks again for all the help!

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