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Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009

Re: Do MyFico High Rollers Ever Laugh at Us Peasants?


djrez4 wrote:

I don't think of myself as a high roller, even with multiple five-figure limits.  There's still a nagging derogatory mark on my reports that I can't get rid of that keeps me right around 700.  I'm interested to see what happens when that drops in July/August, 2014.

 

Even so, my scores were in the low 500s at their nadir and I know how that feels.  If/when I join the 800 club, I'll be around to pass knowledge on to those who need it.


I know how that feels.  My lates will all start falling off between June 2015 and January 2016.  I've given up on GW and decided to wait it out.  I can't wait to have clean reports again.   


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Established Contributor
Pilotdude
Posts: 955
Registered: ‎02-02-2013

Re: Do MyFico High Rollers Ever Laugh at Us Peasants?


Walt_K wrote:

djrez4 wrote:

I don't think of myself as a high roller, even with multiple five-figure limits.  There's still a nagging derogatory mark on my reports that I can't get rid of that keeps me right around 700.  I'm interested to see what happens when that drops in July/August, 2014.

 

Even so, my scores were in the low 500s at their nadir and I know how that feels.  If/when I join the 800 club, I'll be around to pass knowledge on to those who need it.


I know how that feels.  My lates will all start falling off between June 2015 and January 2016.  I've given up on GW and decided to wait it out.  I can't wait to have clean reports again.   


This is right where I am.  All but one baddie is off.  I am trying now to get the last to go away (looking good after talking to Eq guy this morning).  tax refund on the way to help pay off everything and my scores are currently hovering right around 700 (even with util at almost 65% till things paid report this month) and I have very low (below 5 total) inquiries across all the bureaus total. 

I can't wait to see how my FICO reacts to the upcoming low util, no baddies at all and the fact that I am an AU on an amex, disc and cap1 while also having my own Cap One cash rewards card as well.

 

All score simulators from myFICO have me jumping to above 750 with payoffs and the baddie being gone.  I am hyped to say the least. :smileyhappy:

 

I would have made HUGE mistakes if not for the advice of some of the high rollers here as well as some of the other soon to be high rollers.  This place is like a team sport with everyone pretty much helping everyone else. I for one am extremely thankful for that,  :smileyhappy:


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Senior Contributor
drkaje
Posts: 3,482
Registered: ‎07-25-2008

Re: Do MyFico High Rollers Ever Laugh at Us Peasants?

As if there's a functional difference between 830 and 803 FICO scores.


Starting Score: 675
Current Score: EX ? FICO, EQ 708 FICO
Goal Score: 776 FICO


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Regular Contributor
Sevenfeet
Posts: 166
Registered: ‎02-06-2013

Re: Do MyFico High Rollers Ever Laugh at Us Peasants?

You have to remember that many of us supposed "high rollers" began making credit mistakes when we were younger and got into lots of trouble.  Right now I carry an Amex Platinum, a BofA Cash Rewards ($20K), a Chase Freedom ($25K) and a Penfed PRV ($28K).  But twelve years ago, I got into credit trouble, got into collections on three cards back then and spent two years digging my way out.  It teaches you a lot because bad credit means poor choice availability for things in life we all strive for.  By the time I was ready to buy a house in 2003, I had things patched up enough and my wife had much better credit and an awesome credit union.  We were approved and we never looked back.

 

It hasn't been completely easy, as life never is.  But it's nice to look at a clean CR now knowing that I'm never going to let that happen again, at least not for making dumb decisions.


.......NPSL..…..…$28K….....….$25K.............$20K..............$20K..............$20K..….......$9.5K…........$7.5K.…........$9K..............$4.5K
Valued Contributor
android01
Posts: 1,206
Registered: ‎09-22-2009

Re: Do MyFico High Rollers Ever Laugh at Us Peasants?


Walt_K wrote:

I more chuckle when one of the high rollers who is new to the forum posts a thread like "OMG one app and I lost 27 points!!!!! Please HELP!" and your realize their score just dropped from 830 to 803 and you have to talk them off the ledge. 

 

I joined this forum with scores around the 500s and something like $40K in CC debt (may have even been more, I know I posted the total once but can't remember).  So I've had a big slice of humble pie.  My scores aren't in high achiever territory yet, but I can feel pretty confident I will be approved for most credit cards.  I just try to pass on a little bit of what I learned hanging out here.   


:smileyvery-happy: That's me!  Losing points for whatever reason really sucks, IMO!  It's ALLLL about the score...

 

On another note, can someone tell me what the definition of a "high roller" is?  I don't think I am one.  

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TU FICO - TU08 - 850 - 6/17/14
EX FICO - EX08 - 850 - 6/17/14
Regular Contributor
Johnny_Favorite
Posts: 266
Registered: ‎09-05-2012

Re: Do MyFico High Rollers Ever Laugh at Us Peasants?

Thanks for all the awesome responses guys.

 

On that note, a credit High Roller would be somebody with multiple 25K plus cards.

 

 




Valued Contributor
android01
Posts: 1,206
Registered: ‎09-22-2009

Re: Do MyFico High Rollers Ever Laugh at Us Peasants?


Johnny_Favorite wrote:

Thanks for all the awesome responses guys.

 

On that note, a credit High Roller would be somebody with multiple 25K plus cards.

 

 


OK.  I guess that makes me a high roller.  :smileyindifferent:

EQ FICO - EQ08 - 850 - 6/17/14
TU FICO - TU08 - 850 - 6/17/14
EX FICO - EX08 - 850 - 6/17/14
Valued Contributor
dddewdrop
Posts: 1,060
Registered: ‎02-06-2013

Re: Do MyFico High Rollers Ever Laugh at Us Peasants?

[ Edited ]

       I am happy to be a peasant moving in the right direction. 1 year out of college I was making more than most of my classmates in college. I rode some good luck as a derivatives trader and was making high 6 figures right out of college.  I had a fund of over 20 million dollars at my discretion to trade with . Then came addiction and bad luck.  Now post rehabs, homelessness, and the deaths of many people close to me, I'm just happy to be alive and moving back in the right direction. I was thrilled to get a Walmart card with a 400 CL last week.  Absolutely thrilled. Its a huge landmark for me. A little ego deflation is good for all of us. Certainly was to me. Those high rollers get it. Thats how most of them became high rollers in the first place. 

 

 

Happy to be a peasant in the garden...

 

..oh and Android.. you qualify as a high roller.. u rollin' deep...

0/10001100/13001346/16001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632...Link to my Rebuild Log
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Valued Contributor
starry1
Posts: 2,068
Registered: ‎11-29-2012

Re: Do MyFico High Rollers Ever Laugh at Us Peasants?


dddewdrop wrote:

       I am happy to be a peasant moving in the right direction. 1 year out of college I was making more than most of my classmates in college. I rode some good luck as a derivatives trader and was making high 6 figures right out of college.  I had a fund of over 20 million dollars at my discretion to trade with . Then came addiction and bad luck.  Now post rehabs, homelessness, and the deaths of many people close to me, I'm just happy to be alive and moving back in the right direction. I was thrilled to get a Walmart card with a 400 CL last week.  Absolutely thrilled. Its a huge landmark for me. A little ego deflation is good for all of us. Certainly was to me. Those high rollers get it. Thats how most of them became high rollers in the first place. 

 

 

Happy to be a peasant in the garden...

 

..oh and Android.. you qualify as a high roller.. u rollin' deep...


 

 

I couldn't agree with the highlighted section more.  I hadn't had a credit card in 10 years, then I got smacked with repeated large medical bills the past three years.  Once the savings ran out I was forced into bankruptcy when one of the creditors I had paid over $12k to the last three years decided to try to sue me and garnish my paycheck.  If I had stuck with credit, I would have had some backup rather than using every dime I had and then filing bk anyway.  I have learned and will never be in that situation again.  I'm really looking forward to getting back in the credit game.


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 6/2614 TU 624; EQ 635; EX 610
Goal Score:  625 for now– New goal 675

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Regular Contributor
MustangSaluki
Posts: 202
Registered: ‎07-07-2008

Re: Do MyFico High Rollers Ever Laugh at Us Peasants?

[ Edited ]

Love the topic OP :smileylol:. I used to think that myself for a very long time! I just wish I had discovered the forums a lot earlier when I was new in the country as I had absolutely no idea about credit in general. I abused the system, made mistakes and paid for it for a long time. I have great scores now and have made up for the mistakes for the most part, but still regret those stupid decisions as I still would have been much better off without the lameness.. I ate a lot of sugar free humble pie over the years and stay grounded and have a closed Cap1 $500 from 2000 still showing up in my EQ report to remind me of that.

 

Maintaining good credit is now utmost priority and it taught me so much about finances in general. I have been able to help my wife start off the right way as well as few friends and take consolation in that. Peasant all the way here even if credit limits say otherwise. :smileyvery-happy:


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