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Finally considered creditworthy.

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Anonymous
Not applicable

Finally considered creditworthy.

I was completely new to credit a year ago, and since then, I've been obsessively researching around the internet on the best way to build up a credit history.  In the beginning, I was only able to finally qualify for a Capital One Secured Mastercard with a $250 limit.  About four months ago, I was able to get a NPSL Amex Zync card.  Which now seems like it may have been quite the stroke of luck.  Along with a $500 Capital One Cash Rewards card.  But still not much more.

 

Now, with hitting the one year mark, I decided to celebrate with a small app spree.  I've had the goal of getting a Chase Freedom card, a Discover More card, and an Amex Blue Cash Everyday card.  So I applied for those, and then Citi Forward and Walmart for good measure.  And for the free FICO from Walmart.  

 

And the results.

 

Chase Freedom: Instant approval for $2,200.  Easily my highest limit yet.

 

Discover More: 7-10 day message, then a call two days later to verify some info, and approved for $1,000.

 

Walmart: No instant approval, called a day or two later, verified info, and was approved for a $1,000 Walmart Discover.

 

Citi Forward: Denied, but the only reason mentioned was excessive inquiries.  I sent a recon letter through PFB explaining that I racked those up because nobody would give me credit in the beginning.  Feeling confident that they should understand.

 

Blue Cash Everyday: Denied.  The only one I really don't think I'll be able to get.  But I think I can manage for now.  I called the executive office for recon, and the guy was nice about it and put it through, but it sounds like they're not willing to do it until I've got some more history, and more time with Amex.  He said to try again in a few months.

 

So all-in-all, I made out fairly well.  If the Citi Forward gets approved, I'll be pretty set until I can get BCE.  Then it's gardening time.  I need to cut down on my inquiry count.  Just had like five of them fall off, and I go and rack up five more.  Either way, I'm pretty thrilled.  Particularly since I've got $250 cash back with the Chase Freedom.

 

Not to mention, the day I applied for the Freedom, I went into the local branch to ask about it, and heard that it'd help my chances to have a bank account with Chase.  Not sure if it's true or not, but I was happy to try it, so I opened an account on the spot.  After getting approved for the Freedom.  I got a coupon to get $150 cash back when opening a new checking account.  Figured I was screwed, since I'd already opened one, but I took it in the next day, and they were really great about it.  Had absolutely no problem taking it and applying it to the account after the fact, since it had only been a day.  So I'm pretty pleased with Chase overall.

Message 1 of 6
5 REPLIES 5
visorboy1974
Valued Contributor

Re: Finally considered creditworthy.

Congrats on the approvals, no worries on the denials...just keep building!!!  

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
Message 2 of 6
LS2982
Mega Contributor

Re: Finally considered creditworthy.


@Anonymous wrote:

I was completely new to credit a year ago, and since then, I've been obsessively researching around the internet on the best way to build up a credit history.  In the beginning, I was only able to finally qualify for a Capital One Secured Mastercard with a $250 limit.  About four months ago, I was able to get a NPSL Amex Zync card.  Which now seems like it may have been quite the stroke of luck.  Along with a $500 Capital One Cash Rewards card.  But still not much more.

 

Now, with hitting the one year mark, I decided to celebrate with a small app spree.  I've had the goal of getting a Chase Freedom card, a Discover More card, and an Amex Blue Cash Everyday card.  So I applied for those, and then Citi Forward and Walmart for good measure.  And for the free FICO from Walmart.  

 

And the results.

 

Chase Freedom: Instant approval for $2,200.  Easily my highest limit yet.

 

Discover More: 7-10 day message, then a call two days later to verify some info, and approved for $1,000.

 

Walmart: No instant approval, called a day or two later, verified info, and was approved for a $1,000 Walmart Discover.

 

Citi Forward: Denied, but the only reason mentioned was excessive inquiries.  I sent a recon letter through PFB explaining that I racked those up because nobody would give me credit in the beginning.  Feeling confident that they should understand.

 

Blue Cash Everyday: Denied.  The only one I really don't think I'll be able to get.  But I think I can manage for now.  I called the executive office for recon, and the guy was nice about it and put it through, but it sounds like they're not willing to do it until I've got some more history, and more time with Amex.  He said to try again in a few months.

 

So all-in-all, I made out fairly well.  If the Citi Forward gets approved, I'll be pretty set until I can get BCE.  Then it's gardening time.  I need to cut down on my inquiry count.  Just had like five of them fall off, and I go and rack up five more.  Either way, I'm pretty thrilled.  Particularly since I've got $250 cash back with the Chase Freedom.

 

Not to mention, the day I applied for the Freedom, I went into the local branch to ask about it, and heard that it'd help my chances to have a bank account with Chase.  Not sure if it's true or not, but I was happy to try it, so I opened an account on the spot.  After getting approved for the Freedom.  I got a coupon to get $150 cash back when opening a new checking account.  Figured I was screwed, since I'd already opened one, but I took it in the next day, and they were really great about it.  Had absolutely no problem taking it and applying it to the account after the fact, since it had only been a day.  So I'm pretty pleased with Chase overall.


Congrats!!

 

Get some age on those accts (6 months / year) and that BCE will be yours!!




EQ FICO 548 3/3/16
Message 3 of 6
dalebb
Valued Contributor

Re: Finally considered creditworthy.

good job, wtg

Message 4 of 6
Anonymous
Not applicable

Re: Finally considered creditworthy.


@Anonymous wrote:

Citi Forward: Denied, but the only reason mentioned was excessive inquiries.  I sent a recon letter through PFB explaining that I racked those up because nobody would give me credit in the beginning.  Feeling confident that they should understand.

 



I hope you have better luck with them than I have. That's the reason I got denied too, and I sent them a recon letter detailing all the inquiries and trying to explain that most of them were from when I was initially trying to establish credit about a year ago. Result? They did ANOTHER HP (although the previous one was only 2 weeks old) and then denied me again for excessive inquiries. So they really just added insult to injury. As much as I'd like to get a card from Citi, after this (and their previous denial about 2-3 months ago after applying with a pre-approved invitation number) I'm starting to think maybe I don't need to get a card from Citi. There's plenty of other prime options out there.

Message 5 of 6
Guava
Established Contributor

Re: Finally considered creditworthy.

Way to go, you got a nice foundation to build on!


Starting Score (08/11/11): TU08: 643
Current Score: TU08: 741
Goal Score: Stay in the 700s; keep reports clean


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Message 6 of 6
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