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Garden Club Meeting - November 2012

Valued Contributor

Re: Garden Club Meeting - November 2012


ihatemyscore wrote:

Ladies/Gentlemen,

 

I have about 20+ inquiries on each report, due to my lack of knowledge before myfico and the ultimate itch of filling out an application hoping for an approval! But I have built up my mental strength and ready to endure 24 months of NO APPING! 

 

My credit profile looks like this for now: BK7 Discharged June 2012,

Orchard(CAP1) : 113/300

Cap1 secured 150/200 

First primier 0/300

auto loan: 5k soon to PIF intrest is way to high!

 

Cap 1 Authorized user: 0/500 

 

All positive tradelines with all negative accounts in IIB status and one charge off from cap1 that will fall off 2016.

 

I know I need to pay down my balances asap and I am! Once my balances are all PIF i will start depositing 100 a month to my secured cap1 card so I can build upto a 3k balance so when I have 0 inquiries in 24 months I will look like I am in alot better shape than I am now. Any recommendations from the vets?

 

I will be canceling first primier when the 1st yr is up to avoid the annual fee and any additional fees and I suspect by then I will have built my cap1 secured to atleast 1000 dollars. I don't see why it should hurt me if I keep orchard open at a 0 balance and build my cap1 secured as well stay as a authorized user on my girlfriends cap1 which never carries a balance if it does it's PIF before statement cuts. I will be gardening my orchard and cap1 secured, I know it's not much but and I probably wont go too far with orchard but its okay because I know in 24 months when my cap1 is at its 3k limit I will be approved for some pretty good cards.. it will be 2 yrs post bankruptcy and 2 yrs of ontime payments on 3 cards.


Sorry to be the bearer of bad news, there really isn't a rush to pay down balances, it won't effect your credit in any meaningful way for now. Bk is a recipe of getting sub-prime cards for the next 5+ years. Sure the CapOne and first premies will give you credit for now, and maybe after a couple years you may be able to get in with GE money bank, if you haven't burned them in the past. You aren't going to see a prime card anytime soon. Best just to increase your limit as finances provide, make all payments, pay over the minimum payments and garden learn new financial habbits that lead to a strong credit future and you seedlings will have strong roots when the bad weeds whitter and die off. 

 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 271 of 287
Member

Re: Garden Club Meeting - November 2012

Hi everyone. Gardening seems like the thing for me.

 

I'd like to keep up to date on everything that's going on in the credit world, but I don't want to be pushed towards making new cards.

 

I have three new cards in the last twelve months (AMEX Blue Cash Everyday, the 1.5% Capital One Visa Signature, and the Chase Hyatt) and I've managed to get my wife her first two cards this year as well (including a Citi Forward). So I think we are set until a nice 3% on everything card rolls around!

 

I'm app free since October 21, will try participating in the new December gardening thread in a few days.

 

Nice to meet you all Smiley Happy



EQ 772 (5/2013) - CS 794 (6/2013) - CK 774 (7/2013)
Message 272 of 287
Moderator Emeritus

Re: Garden Club Meeting - November 2012


Yoshimune wrote:

Hi everyone. Gardening seems like the thing for me.

 

I'd like to keep up to date on everything that's going on in the credit world, but I don't want to be pushed towards making new cards.

 

I have three new cards in the last twelve months (AMEX Blue Cash Everyday, the 1.5% Capital One Visa Signature, and the Chase Hyatt) and I've managed to get my wife her first two cards this year as well (including a Citi Forward). So I think we are set until a nice 3% on everything card rolls around!

 

I'm app free since October 21, will try participating in the new December gardening thread in a few days.

 

Nice to meet you all Smiley Happy


 

Hello and welcome to the myfico forums! Pull up a chair and roll up your sleeves cause gardening is hard work for those of us who like shiny new things!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 273 of 287
Established Contributor

Re: Garden Club Meeting - November 2012

I just joined the garden club, and my last app was 11/24/12. But according to Credit Karma, I have 2 hard pulls on the 28th from Paypal and TJX. I applied for those a week before gardening. Why are they pulling my credit now? I don't want to start my gardening date over again!!!


Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Current Score (9/3/15): Wally TU 639 | Amex EX 628 | DCU EQ 639
Goals: Homeowner as of 9/27/2013. Last app 8/1/15. TU-5; EX-16; EQ-13. Aiming for ZERO inqs.
Message 274 of 287
Frequent Contributor

Re: Garden Club Meeting - November 2012

James,

 

I don't take it bad news neccessarily because when I filed I knew what I was getting into and I appreciate that you were brief and blunt about my situation. The only creditor I burned was medical debt CA and a car loan company (sub-prime).

 

Even though I won't see any PRIME cards, in the next 5 yrs does anyone have any recommendations on what I should do? I know if I build positive tradelines for 24 months and do the best to get the majority of baddies deleted from my CR some creditors will look into me. 

 

I will take your advice James to heart and I will build up my balance on my Secured card but I think I can possibly get into with my CU in the next 24 months. I don't want to be in rush because in my experience rushing anything gets you into a bigger mess than you if you just take your time..

 

Slow and steady wins the race Smiley Tongue well sometimes.. I will let all those inquiries fall off and my plans are possibily apping for a secured Wells Fargo card maybe after 12 months post bk and  then try and app for a rewards card with my CU.

BK: 7 filed 3/31/12 - Discharged 6/27/12
Made some poor choices and life snowballed
BK: 13 filed 7/29/16 - on a 36th month time out
No CC - No Loans - Student Loans all current.
Message 275 of 287
Valued Contributor

Re: Garden Club Meeting - November 2012

While I don't recommend getting credit you don't need and shouldn't use, I wonder why you believe you won't see prime credits for five years (unless I misunderstand your definition of prime).

 

I have dumped my subprimes, and have more than enough credit on non-subprime cards (NFCU, Walmart Discover, First Tech FCU).  Take it slow, don't rush to apply, and culivate credit unions would be my advice.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
Take the FICO Fitness Challenge
Message 276 of 287
Frequent Contributor

Re: Garden Club Meeting - November 2012

Hi Chasmith,

 

I was accepting the response James has posted about my situation above. I thank you for your advice and my definition of prime is the high end cards from reptuable banks and credit companies. 

 

I am definetly going to take it slow and steady and just build myself up. I know in a yr when a dozen of my inquiries drop I am going to hold that itch to apply and wait until their is absolutely no inquiries on my reports and I have a solid 24 month history of 3 cards. 

 

I am going to cancel first primier in May when the annual fee comes around but garden my secured cap1 and orchard bank. I am also a AU on my girlfriends 500 limit capital one she keeps little to no balance on the card. I think she pays her netflix account and PIF every month so atleast is is active.

 

I am working to get back in with Navy. I settled a credit card with them and I am paying them back in installments and they will re-open an account for me after.

 

I had to work it up to the CEO. Navys modo is "Once a member, always a member" I know I did them wrong but I will pay all my owed debt to them which is very small and switch my direct deposits to Navy and start building a portfolio with them. Maybe theyll offer me something in the future Smiley Very Happy

BK: 7 filed 3/31/12 - Discharged 6/27/12
Made some poor choices and life snowballed
BK: 13 filed 7/29/16 - on a 36th month time out
No CC - No Loans - Student Loans all current.
Message 277 of 287
Valued Contributor

Re: Garden Club Meeting - November 2012

welp another silver spade!

as posted before didnt know if its 90 days or same date. 

last app and pull was 8/30 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Message 278 of 287
Established Contributor

Re: Garden Club Meeting - November 2012

30 days app free!!!! I think I have enough cards right now... i wanna stay in the garden until 06/2014 but will take it one day at a time.... I know I will be gettin the itch once my new accounts reached 1 yr (05/2013) and my last collection falls off (06/2013)... who knows, maybe I'll finally get in with citi or discover..... and maybe get bce or csp =)


Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Message 279 of 287
Valued Contributor

Re: Garden Club Meeting - November 2012

Congrats kobe2012, nice spade!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 832 EX 783 TU 816
App free since 9/15/15
Message 280 of 287