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Valued Contributor
android01
Posts: 1,208
Registered: ‎09-22-2009
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Re: Credit card apps ?

[ Edited ]

With an EQ score of 657 (not knowing the other two) I'd say forget about applying for anything for at least two years.  You won't get anything decent with scores under 700.  Use what you have, ask for CLI's as long as they don't do a hard for them, and wait.  Your scores alone do not justify a higher limit on anything for a while.  Remember that the credit game is a journey that takes years, not months or weeks.    

EQ FICO - EQ08 - 850 -9/2/14
TU FICO - TU08 - 850 - 7/18/14
EX FICO - EX08 - 850 - 7/18/14
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LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Credit card apps ?


android01 wrote:

With an EQ score of 657 (not knowing the other two) I'd say forget about applying for anything for at least two years.  You won't get anything decent with scores under 700.  Use what you have, ask for CLI's as long as they don't do a hard for them, and wait.  Your scores alone do not justify a higher limit on anything for a while.  Remember that the credit game is a journey that takes years, not months or weeks.    


This is true, but he doesn't have any prime cards in his wallet yet and Discover should be good for 1k at least 6 months to a year from now. I agree getting up to 700 and waiting 2 years would be the best tho.

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Valued Contributor
android01
Posts: 1,208
Registered: ‎09-22-2009
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Re: Credit card apps ?


LS2982 wrote:

android01 wrote:

With an EQ score of 657 (not knowing the other two) I'd say forget about applying for anything for at least two years.  You won't get anything decent with scores under 700.  Use what you have, ask for CLI's as long as they don't do a hard for them, and wait.  Your scores alone do not justify a higher limit on anything for a while.  Remember that the credit game is a journey that takes years, not months or weeks.    


This is true, but he doesn't have any prime cards in his wallet yet and Discover should be good for 1k at least 6 months to a year from now. I agree getting up to 700 and waiting 2 years would be the best tho.

 


IMO, a $1,000 CL is a toy limit that will take several years to raise to a limit that will be worthwhile, especially with Discover.  Waiting a couple years OR until scores are above 700 would likely get a 3-4K initial CL.  What's the point of applying at a disadvantage?  A Prime card with a crappy CL isn't any better than a sub prime card with a crappy CL, although there is a better chance of future CLI's with Prime cards as long as your FICO's justify it.         

EQ FICO - EQ08 - 850 -9/2/14
TU FICO - TU08 - 850 - 7/18/14
EX FICO - EX08 - 850 - 7/18/14
Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012
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Re: Credit card apps ?

woooww i gotta wait that long.......man i been using one year with this low limit credit of Credit One, Crappy one and Orchard bank( now Crapy one ) too.......and have no reward what soever also high AF which is $99, $,75 and $39 . im end up having nothing in rewards........well my score slowly rinse . Update now is 664 7 points each month so i guess maybe the end of the year i would get to 700.

I also have 2 charge off and 1 collection from those charge off which is 4 years old. Is that possible i get to 700.

3 credit trade line, 1 student loand 4 years old and never late. :smileyvery-happy: Uti less than 9% and AAOA 3 something years....


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

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nicholasyud
Posts: 1,734
Registered: ‎08-13-2012
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Re: Credit card apps ?



IMO, a $1,000 CL is a toy limit that will take several years to raise to a limit that will be worthwhile, especially with Discover.  Waiting a couple years OR until scores are above 700 would likely get a 3-4K initial CL.  What's the point of applying at a disadvantage?  A Prime card with a crappy CL isn't any better than a sub prime card with a crappy CL, although there is a better chance of future CLI's with Prime cards as long as your FICO's justify it.         


but with those trade line less than 1500 would i get that high limit since i hit that 700 ?  i dont know how they base on to give you limit but i guess they usually offer you what your high trade line and so ? correct me if im wrong....

 


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Credit card apps ?


android01 wrote:

LS2982 wrote:

android01 wrote:

With an EQ score of 657 (not knowing the other two) I'd say forget about applying for anything for at least two years.  You won't get anything decent with scores under 700.  Use what you have, ask for CLI's as long as they don't do a hard for them, and wait.  Your scores alone do not justify a higher limit on anything for a while.  Remember that the credit game is a journey that takes years, not months or weeks.    


This is true, but he doesn't have any prime cards in his wallet yet and Discover should be good for 1k at least 6 months to a year from now. I agree getting up to 700 and waiting 2 years would be the best tho.

 


IMO, a $1,000 CL is a toy limit that will take several years to raise to a limit that will be worthwhile, especially with Discover.  Waiting a couple years OR until scores are above 700 would likely get a 3-4K initial CL.  What's the point of applying at a disadvantage?  A Prime card with a crappy CL isn't any better than a sub prime card with a crappy CL, although there is a better chance of future CLI's with Prime cards as long as your FICO's justify it.         


I'm not disagreeing with you android :smileyvery-happy:

 

I think the OP will end up apping sooner than 2 years tho.

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012
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Re: Credit card apps ?

the thing is i just wanna get in the relationship with those prime card and u know having it with the rest of my life........I dont mean to disagree with you guys but only ask for your expert experience i know most of you guys had credit card maybe more than what i had.......My goal is get some relationship with them and used them responsibility and maybe have it forever lol.........i just dont know where to go and sometime hear some good story approved just make me wanna go ahead and apply for it......you know what i mean ? . Because i know im going to closed one of those stupid card soon since i hit my target........give me like 400 500 limit even thou i make 60k....thats just crazy ;-(


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Valued Contributor
android01
Posts: 1,208
Registered: ‎09-22-2009
0

Re: Credit card apps ?


nicholasyud wrote:

woooww i gotta wait that long.......man i been using one year with this low limit credit of Credit One, Crappy one and Orchard bank( now Crapy one ) too.......and have no reward what soever also high AF which is $99, $,75 and $39 . im end up having nothing in rewards........well my score slowly rinse . Update now is 664 7 points each month so i guess maybe the end of the year i would get to 700.

I also have 2 charge off and 1 collection from those charge off which is 4 years old. Is that possible i get to 700.

3 credit trade line, 1 student loand 4 years old and never late. :smileyvery-happy: Uti less than 9% and AAOA 3 something years....


Thanks for the info on your history as that makes a lot of difference.  The charge offs and collection are killing your scores, even at 4 years old.  Your scores will slowly rise over time and the negatives will dissapear after 7 years. Whether you get to 700 any time soon is unlikely.  You don't have to wait THAT long to apply for what you want, I'm just suggesting that you will likely get higher CL's if you wait until the baddies age and you have more time under your belt with good payment history.  

EQ FICO - EQ08 - 850 -9/2/14
TU FICO - TU08 - 850 - 7/18/14
EX FICO - EX08 - 850 - 7/18/14
Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012
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Re: Credit card apps ?



Thanks for the info on your history as that makes a lot of difference.  The charge offs and collection are killing your scores, even at 4 years old.  Your scores will slowly rise over time and the negatives will dissapear after 7 years. Whether you get to 700 any time soon is unlikely.  You don't have to wait THAT long to apply for what you want, I'm just suggesting that you will likely get higher CL's if you wait until the baddies age and you have more time under your belt with good payment histoD


DOFD is April 2008 when i first miss my payment.........so when would you think its would be a best time for me to apply for Discover or Amex ? i know when i hit to 700 but also want to know if i would get it both the same time or what i mean i just want to rebuild my solid credit file and kinda new to this kind of credit game so you know sometime its hard to make a decision...........;-( What do you suggest on my case ?


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Valued Contributor
android01
Posts: 1,208
Registered: ‎09-22-2009
0

Re: Credit card apps ?


LS2982 wrote:

android01 wrote:

LS2982 wrote:

android01 wrote:

With an EQ score of 657 (not knowing the other two) I'd say forget about applying for anything for at least two years.  You won't get anything decent with scores under 700.  Use what you have, ask for CLI's as long as they don't do a hard for them, and wait.  Your scores alone do not justify a higher limit on anything for a while.  Remember that the credit game is a journey that takes years, not months or weeks.    


This is true, but he doesn't have any prime cards in his wallet yet and Discover should be good for 1k at least 6 months to a year from now. I agree getting up to 700 and waiting 2 years would be the best tho.

 


IMO, a $1,000 CL is a toy limit that will take several years to raise to a limit that will be worthwhile, especially with Discover.  Waiting a couple years OR until scores are above 700 would likely get a 3-4K initial CL.  What's the point of applying at a disadvantage?  A Prime card with a crappy CL isn't any better than a sub prime card with a crappy CL, although there is a better chance of future CLI's with Prime cards as long as your FICO's justify it.         


I'm not disagreeing with you android :smileyvery-happy:

 

I think the OP will end up apping sooner than 2 years tho.

 


I'm sure that will happen too. :smileyhappy:   I'm just trying to put the real (credit) world in perspective for those that are new to it, and to help those that may not have to repeat the same misstakes I made, once upon a time.   :smileyhappy:       

EQ FICO - EQ08 - 850 -9/2/14
TU FICO - TU08 - 850 - 7/18/14
EX FICO - EX08 - 850 - 7/18/14

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