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Member
geemister
Posts: 31
Registered: ‎10-01-2013
0

Hoping to do this today

First, I want to thank everyone for all of their advice on my first post.  You provided me with very valuable information that helped me tremendously and I'm incredibly grateful!

 

For those who didn't see my post, I was trying to get a credit card as quickly as possible.  With all of the advice provided here, I decided to start at the local credit union and I asked around and the neighbors pointed me to a good one.  I was approved for an account there (interest bearing checking at 2.5%!!!) and I applied for a credit card and was approved - it's through Elan and I got a $7k credit limit at 19.99% interest (which I didn't think was horrible).  There were two hard inquiries to get this - one for the checking account and the other for the cc.  


Because of these 2 hard hits, I want to apply for others today before they post and affect my score.  So here's the lowdown:

 

1.  When I posted in a panic last week, Transunion showed me having a score of 650 with some baddies.  I was declined an Amex blue cash card as a result.

 

2.  Today my score with Transunion was 714 with the same baddies.  Now I'm not sure what changed, but it's possible that it's this:  I'm an authorized user on my husband's amex card.  When I applied for the amex, he'd put a cap on my card at $725/mo.  This morning, he removed that cap so I now have acces to the full $20k limit.(I have no idea why he's doing things, we aren't speaking).

 

3.  I do not have any credit cards in my name.  I am trying to reestablish/rebuild my credit.  I now have one card under my belt and am not sure how many I should have to help my situation and which ones I should apply for.  

 

4.  The reason I want to do this today is so that the only hard inquiry that shows up is for the amex I applied for a few days ago.  If I understand correctly, the hard inquiries from today won't show up until tomorrow.

 

I hope all of this makes sense so far.  So it boils down to 2 questions:

 

1.  How many cards should I have to help my situation and/or how many should I apply for today?

 

2.  Which ones might I qualify for if I get them (because I don't want to waste any hard inquiries), since it seems my score buoyed 64 points?

 

Thanks again for all of the advice!!!

 

 

Established Contributor
zerobacan
Posts: 726
Registered: ‎01-13-2013
0

Re: Hoping to do this today

First credit inqs are instant to the millisecond. So there is no hurry to app again today.
Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Established Contributor
zerobacan
Posts: 726
Registered: ‎01-13-2013
0

Re: Hoping to do this today

Second your not talking husband move to give you more credit on his amex will not affect you at all. And last where are you pulling thise scores from? Dont believe credit karma.
Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Moderator
09Lexie
Posts: 26,592
Registered: ‎09-13-2012
0

Re: Hoping to do this today

HPs are instant. Depending on your needs for another card as opposed to random applying would be helpful.

Some cc's also come with sign up bonuses and usually spend requirements. I know you posted earlier about your history but giving a brief summary of your needs, income and history would give you a better response.
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Hoping to do this today

Im not sure why your scores would vary, but it's likely due to the type of model or year model of the score used.
Plus, I find that while my tu score stays arouns 690-720
My EQ score stays between 668-700.
Could be a diff score. Eq is mean. Lol
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
MoreRewards
Posts: 587
Registered: ‎09-27-2013
0

Re: Hoping to do this today

I heard they were instant also but they didn't show up on my TU report until the next day on the last 2 apps Idid
Epic Contributor
Creditaddict
Posts: 22,064
Registered: ‎10-23-2007
0

Re: Hoping to do this today


MoreRewards wrote:
I heard they were instant also but they didn't show up on my TU report until the next day on the last 2 apps Idid

A Monitoring service will not alert and update until next day but if you applied and then pulled a report from here at Myfico... it would show instantly.

You are authorized on his amex and what card did you get on your own?

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Member
geemister
Posts: 31
Registered: ‎10-01-2013
0

Re: Hoping to do this today


Thanks - I did not realize that HPs are instant, so that's good to know - just goes to show how much crap advice there is out there and once again, I was misinformed.

 

As for needs - until today, I did not have a single credit card in my name and after having been denied the Amex feel that I need to beef up my credit score.  Here's the timeline so far:

 

10/1 - ran my credit and fico here at myfico - said Equifax at 677

10/1 - applied for Amex Blue Cash - denied.  They ran Transunion and got a 650 score

10/9 - started to panic and got lots of advice

10/15 - went to credit union today - they ran Transunion and got a score of 714 - got a cc through Elan @ $7k limit, cash back rewards.  2 inquiries today - 1 for cc, 1 for checking account

 

I have NO IDEA why my score changed so much in 13 days - none.  I reviewed my credit report and it was identical.

 

I am a contractor - income can range from $10k a year to $200k a year - at this moment, I am not working and have earned $15k ytd (roughly, probably more).

 

I'm divorcing and will want to buy my own home when we're through, so the ultimate goal is to qualify for a mortgage on my own.

 

Credit history:  

 

No open accounts in my name - authorized user on husband's amex

Chase: 1 delinquency from 2011 - 30 days late - only one time ever on that account

Chase: 2 delinquencies:  2009 and 2011 - both 30 days late

Capital One:  showing 4 delinquencies - over 4 subsequent months - when I opened the card, there was no annual fee - we argued over it for months until they closed the card.

Two public records, both PAID - one in 2010 and the other in 2011 (although, this report doesn't show that, but I do have the release of lien from both).

Both HP's show balances to credit too high

 

Hope that helps explain better.

 

Valued Contributor
FinStar
Posts: 6,840
Registered: ‎10-21-2012
0

Re: Hoping to do this today

[ Edited ]

09Lexie wrote:
HPs are instant. Depending on your needs for another card as opposed to random applying would be helpful.

Some cc's also come with sign up bonuses and usually spend requirements. I know you posted earlier about your history but giving a brief summary of your needs, income and history would give you a better response.

+1

 

Inquiries post as soon as the specific CR is retrieved.  The only lag time in viewing them is if you are using a CMS.  However, other lenders can see them.  They don't play hide and seek.  :smileywink:

Moderator
09Lexie
Posts: 26,592
Registered: ‎09-13-2012
0

Re: Hoping to do this today

Cap 1 will probably give you a low cl. Chase probably a no no. You could try Barclays. Do you need a cash back or rewards?

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