@LS2982 wrote:I've got to learn how to have more self control. I don't need anymore new accounts its just the fact I feel like im stuck in the subprime world and I HATE it. I think recently i'm starting to see what too many new accts / low AAoA / lot of INQ's are actually doing to my credit. It's definetely time to stop. I think I had to see it to believe it and a 40 pt ding because of the factors really made me upset and then apping yesterday for something I really didnt need (amazon) made it worse.
I'm making a promise to myself that I will not app for anything else for 1 year. 12/2/2012. I'll have at least 9 cards with a solid year of good history. Then i'll app for 1 prime card.
I'll hold you to this one! 
@RockinRay wrote:
@LS2982 wrote:I've got to learn how to have more self control. I don't need anymore new accounts its just the fact I feel like im stuck in the subprime world and I HATE it. I think recently i'm starting to see what too many new accts / low AAoA / lot of INQ's are actually doing to my credit. It's definetely time to stop. I think I had to see it to believe it and a 40 pt ding because of the factors really made me upset and then apping yesterday for something I really didnt need (amazon) made it worse.
I'm making a promise to myself that I will not app for anything else for 1 year. 12/2/2012. I'll have at least 9 cards with a solid year of good history. Then i'll app for 1 prime card.
I'll hold you to this one!
I totally understand how you feel about this, LS. I've been stuck in subprimeland for much longer than I should have and I can't wait to finish getting out. Much of my problem stemmed from not understanding how util affects scores. For many years I assumed that so long as I was under my CL and paying on time, everything was fine. Even if I was using 90% of my CL -- easy to do on builder/rebuilder cards -- everthing was ok, right? Wrong!!!I I became very frustrated as a result.
I've learned so much from these forums about how credit scoring actually works, and for that I'm deeply grateful. Paying off my old cards was good for two very important reasons: 1) getting out of debt and no longer paying interest and 2) my scores improved significantly with util < 9%.
At this point, I don't need any more rebuilder cards. As a matter of fact, adding any more will only delay my journey out of subprimeland. The path out lies in patience and carefully gardening what I already have. Several of us are in the same boat, and I'm glad that we're here to encourage and support each other. If we stay focused, it won't be much longer before we are firmly back in the world of prime credit.
Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
@tinuviel wrote:I totally understand how you feel about this, LS. I've been stuck in subprimeland for much longer than I should have and I can't wait to finish getting out. Much of my problem stemmed from not understanding how util affects scores. For many years I assumed that so long as I was under my CL and paying on time, everything was fine. Even if I was using 90% of my CL -- easy to do on builder/rebuilder cards -- everthing was ok, right? Wrong!!!I I became very frustrated as a result.
I've learned so much from these forums about how credit scoring actually works, and for that I'm deeply grateful. Paying off my old cards was good for two very important reasons: 1) getting out of debt and no longer paying interest and 2) my scores improved significantly with util < 9%.
At this point, I don't need any more rebuilder cards. As a matter of fact, adding any more will only delay my journey out of subprimeland. The path out lies in patience and carefully gardening what I already have. Several of us are in the same boat, and I'm glad that we're here to encourage and support each other. If we stay focused, it won't be much longer before we are firmly back in the world of prime credit.
Tinu, you're already out of sub-prime land with those end of 2011 scores . Well outside actually from the various pundits that are stating score ranges now... 680 is technically prime in everyone's book, and there's the whole 620ish-680 non-prime range too. Borderline prime to be sure, but definitely no longer sub-prime.
That said, I wouldn't change anything about your strategy at all.
@Revelate wrote:
@tinuviel wrote:I totally understand how you feel about this, LS. I've been stuck in subprimeland for much longer than I should have and I can't wait to finish getting out. Much of my problem stemmed from not understanding how util affects scores. For many years I assumed that so long as I was under my CL and paying on time, everything was fine. Even if I was using 90% of my CL -- easy to do on builder/rebuilder cards -- everthing was ok, right? Wrong!!!I I became very frustrated as a result.
I've learned so much from these forums about how credit scoring actually works, and for that I'm deeply grateful. Paying off my old cards was good for two very important reasons: 1) getting out of debt and no longer paying interest and 2) my scores improved significantly with util < 9%.
At this point, I don't need any more rebuilder cards. As a matter of fact, adding any more will only delay my journey out of subprimeland. The path out lies in patience and carefully gardening what I already have. Several of us are in the same boat, and I'm glad that we're here to encourage and support each other. If we stay focused, it won't be much longer before we are firmly back in the world of prime credit.
Tinu, you're already out of sub-prime land with those end of 2011 scores
That said, I wouldn't change anything about your strategy at all.
Thanks so much for your words of encouragement. It does help to hear this. Yes, it's been a bit of a journey watching my scores climb and I'm happy that they've improved so much.
But, I was turned down for both a Citi Diamond and a BoA Cash Rewards card last October. BoA gave me my EX score of 697 with the denial. The reason with both lenders was that I have some old COs that are due to age off this year. So, until those major derogs are gone, I will won't feel 100% "prime."
The one thing that DOES help, though, is that Amex approved me for a Green card last year. Having that particular card in my wallet makes me feel like I've at least put one foot over the threshhold of the door to primeland. I'm looking foward to both feet being firmly in place by the end of this year.
Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k