04-08-2009 09:58 AM
OK, I've just had a bunch of banks run a credit check on me while searching for an auto loan, but while I was at it I decided to apply for a couple of credit cards.
USAA approved me for an auto, so I decided to apply for their Mastercard. This was one of my goal cards, I had been declined for it twice before, reconed it once and they said no. After the auto approval I applied for the MC and was approved for 10,000 at 7%. =D
I now have my two goal cards that I've been working toward since last year(Discover and USAA) so I really don't need or desire any more CCs. But while messing around on the NFCU website I thought Well, I'll get one more with them since I've heard such good things.
I applied for their new CashRewards card and was approved for 20,000 @ 9%
So now what can I expect from all this credit pulling? I've opened up $30,000 in tradelines within 2 days, but I've also had a lot of pulls and new accounts. I'm so close to 700 I can see it over the horizon, I just don't want this to knock me way down.
04-08-2009 10:00 AM
04-10-2009 11:37 AM
as a follow-up to this (hope the OP doesn't mind)...
04-10-2009 12:24 PM - edited 04-10-2009 12:30 PM
If his util was 0% already, then the new cards will not help his utilization. His AAoA will take a hit, but if this is his only installment loan on his CR, that will help his mix of credit.
Unless you're planning on apping for something else in the next 6-12 months, you should be very pleased.
Your score should fully rebound by the one year mark, and you now have relationships building with very reputable institutions.
04-10-2009 04:05 PM
Were you all ready a member of NFCU? I had looked at it prior to joining PenFed, but it appeared the qualifications were limited.
I am a veteran, have family in the active duty, grandparents who retired Navy, but it seemed that you or a direct relative had to be active/contractor or retired with some type of annuity or pension in order to qualify.
My cousin is active Navy. My father-in-law is active reserves and warrant officer. Grandfather retired from Navy. I was active army, but now veteran. None of these seemed to fit any of the qualifications since none of them could sponsor me.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.