12-11-2012 02:34 PM
I don't know if two is a "spree", but today was the day I applied for my long term goal cards. I will have a mortgage refi posting next week, which will shrink my aaoa (VA IRRL, so no credit check or worries about underwriting), student loans leaving deferral next month and the 4 remaining problem children aren't going away until Oct of 2013. An ex inq fell off yesterday, so I:
Applied over the phone for the CSP while in Costco running TE application at the same time. Results:
Costco TE instant approval, 5k limit. Got this mostly for Costco gas and 2cents/dollar on restaurants (when CSP must be left alone). I got a CLI for my surpass on 10/2, so will wait until 3/2 to ask for 3x on this one.
CSP was instantly declined, as expected. Reason was the charge offs/paid collections from 2006. I immediately called recon, planning to offer to close my Southwest card. "No need," he said, "you've got a great history with us and I've gone ahead and approved the sapphire preferred with a credit access line of 5000". I will let the dust settle, then try to transfer my 5k limit from Southwest card to CSP, then close Southwest. This was really my aspiration card when I began rebuilding, since I spend about 10k/year on restaurants, have been traveling more for work (where I can't pick hotel or airline) and will by flying more United now that we have a baby.
Anyway, I should get my Ex score with the rejection letter (I don't think amex will send one, since there is only one interest rate). AAoA 8.8 years, 6 active cards, all opened in last year (2 amex backdated to 1988), 400/3000 on discover, rest 0 balance. Three charge offs from 2006 (all hsbc or cap 1), one collection for hsbc chargeoff. No negatives since. 3 mortgages (2 closed, all paid as agreed), 1 car (paid off, no lates), 22 student loans (12 closed, 12 deferred). One personal loan with 2900 remaining on 8000 loan.
I will now, aside from occasional cli requests, leave well enough alone and enjoy the travel my cards should facilitate. Thanks, as always, for the collective knowledge of this forum. I'd still have 2 secured cards with a total limit of 1450 otherwise.
12-11-2012 06:28 PM
Thanks! If you told me a year ago I'd go from 1450 in secured credit to over 50k in unsecured, all while earning enough points for a free trip to hawaii for myself and my wife, I'd have called you a liar. One of the many things I've learned is this: Be exceedingly polite and gracious, but tell your story quickly and passionately. These people (who work at credit card companies) are human beings and a little respect, politeness and humility will often get you where you are trying to go.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO