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New Member
Cirrus
Posts: 4
Registered: ‎01-12-2012
0

Get New Credit Card off report

 

I recently applied for a "pre-approved" credit card from Suntrust with a minimum limit of $2500.  Due to some medical collections accounts from almost 7 years ago I was denied. 

 

I called to recon cancel and a few days later a new card arrived with a mickey mouse $1000 limit.  I called to recon the limit and she said wait 30 days to reapply.  I am also afraid they will do a HP if I request a CLI.

 

I don't want this low limit card, but I have a new account on my credit report reports.  If I can't get the account off my credit report there is no reason to cancel this no-annual fee card, but I would rather have a new account open be with a high limit card.  In 4 months when the collections accounts drop off I will be able to recieve a high limit card and I don't want this new account on there negatively affecting my score..  Obviously I should of just waited to apply.

 

So is there a way I can not activate the card, cancel it and get this off my reports?

Moderator
pizzadude
Posts: 9,674
Registered: ‎01-28-2010
0

Re: Get New Credit Card off report


Cirrus wrote:

 

I recently applied for a "pre-approved" credit card from Suntrust with a minimum limit of $2500.  Due to some medical collections accounts from almost 7 years ago I was denied. 

 

I called to recon cancel and a few days later a new card arrived with a mickey mouse $1000 limit.  I called to recon the limit and she said wait 30 days to reapply.  I am also afraid they will do a HP if I request a CLI.

 

I don't want this low limit card, but I have a new account on my credit report reports.  If I can't get the account off my credit report there is no reason to cancel this no-annual fee card, but I would rather have a new account open be with a high limit card.  In 4 months when the collections accounts drop off I will be able to recieve a high limit card and I don't want this new account on there negatively affecting my score..  Obviously I should of just waited to apply.

 

So is there a way I can not activate the card, cancel it and get this off my reports?


Why not just leave the account alone and request a CLI in 4 months ?     The only way that a new account can hurt your score is from the initial hard inquiry and then through lowering your AAoA, although depending on your credit profile it may not lower it significantly.

 


 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Valued Contributor
dalebb
Posts: 1,424
Registered: ‎08-28-2010
0

Re: Get New Credit Card off report


pizzadude wrote:

Cirrus wrote:

 

I recently applied for a "pre-approved" credit card from Suntrust with a minimum limit of $2500.  Due to some medical collections accounts from almost 7 years ago I was denied. 

 

I called to recon cancel and a few days later a new card arrived with a mickey mouse $1000 limit.  I called to recon the limit and she said wait 30 days to reapply.  I am also afraid they will do a HP if I request a CLI.

 

I don't want this low limit card, but I have a new account on my credit report reports.  If I can't get the account off my credit report there is no reason to cancel this no-annual fee card, but I would rather have a new account open be with a high limit card.  In 4 months when the collections accounts drop off I will be able to recieve a high limit card and I don't want this new account on there negatively affecting my score..  Obviously I should of just waited to apply.

 

So is there a way I can not activate the card, cancel it and get this off my reports?


Why not just leave the account alone and request a CLI in 4 months ?     The only way that a new account can hurt your score is from the initial hard inquiry and then through lowering your AAoA, although depending on your credit profile it may not lower it significantly.

 


 


+1   welcome to the forums

New Member
Cirrus
Posts: 4
Registered: ‎01-12-2012
0

Re: Get New Credit Card off report

Yea long time forum lurker.

 

My concern with CLIs is they are usually only 1000 or so max.  It seems way easier and faster to just get a card with an initial high limit than to get incremental cli's every 6 months.

 

I am worried about the AAoA.  I only have 2 revolving accounts and they are only about 2 years old.  Mathematically the new account should make little difference in the AAoA, but I suspect it doesn't work like that.

Moderator
pizzadude
Posts: 9,674
Registered: ‎01-28-2010
0

Re: Get New Credit Card off report


Cirrus wrote:

Yea long time forum lurker.

 

My concern with CLIs is they are usually only 1000 or so max.  It seems way easier and faster to just get a card with an initial high limit than to get incremental cli's every 6 months.

 

I am worried about the AAoA.  I only have 2 revolving accounts and they are only about 2 years old.  Mathematically the new account should make little difference in the AAoA, but I suspect it doesn't work like that.


 

Your AAoA might take a hit, unless you have more than 2 accounts.   AAoA is calculated based on all accounts showing on your CR, both open and closed.

 

I don't know anyway to get it removed, other than just calling them, closing, and asking them to delete it.   They may not agree to do this.

 

What are the CLs on your other two revolving accounts ?   Honestly 1K isn't as mickey mouse as it gets, many people are stuck with much lower CLs....

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
New Member
Cirrus
Posts: 4
Registered: ‎01-12-2012
0

Re: Get New Credit Card off report

 

I have a crapitol one with a $1,000 limit.  That card is worthless as they refuse CLIs.  I have a barclay's with a $5000 cli.  It started at $1000 and I recieve an auto CLI every 6 months.  I charge over 2k a month on the Barclays and pif each month.  My FICO was 705 when Suntrust pulled the report.  It was high as my credit utilization was over 50% simply because of the time of the month the report was pulled.

Senior Contributor
john398
Posts: 3,521
Registered: ‎01-19-2009
0

Re: Get New Credit Card off report

I think comparing Suntrust to Capitalone could be a mistake,


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