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Regular Contributor
RichRaven
Posts: 239
Registered: ‎08-30-2007

I'm in Heaven

   Almost one year ago today I decided to change my life as well as my fortunes as  I had no credit history except for two small judgements. I decided to take control of my life because I was recently married to a beautiful lovely woman and wanted to give her the advantages that a good credit history can afford. I started by getting two secured cc's with 300 dollar limits, Bank of America and Orchard Bank. I used them vigorously but never going over my limits and paying each as soon as they were due online. I usually left a balance of $25.00 to $50.00 on each to show utilization.
 
I've been so nervous to apply for new cards recently for fear of rejection that it made me physically sick. This fear consumed me to a point that I would read the pre-approval notices that I recieved after six months from cc companies and shred them at the first sign of inproprieties. I finally found the courage to apply after receiving an offer from Washington Mutual today. I read the offer several times offering me 0% until January and 9.9% after that. Needless to say I was both happy and nervous about the offer. I then decided to to view this forum and was both encouraged and reluctant to apply online because I read both the good and bad about their offer. My confusion was finally settled when my wife told me that have nothing to lose because I've paid my bills on time and and they would be foolish to reject me. I know the consequences of a hard inquiry but I decided to try because of the faith she had in me. I went through the process of entering my reservation number and a few bits of information that they required. I they poured a glass of wine before clicking the submit button and waited for a decision that could change our lives. I'm hoping to buy a house within the next year and the decision made by this company could make or break the process. I know we need to increase our high credit, keep our utilization low, and keep our average time with the open accounts steady and Wasington Mutual could be the key.
 
While the computer decided our fate I sipped the wine, told my wife I loved her and prayed. I finally decided to be courageous and look at the compuer and there it was.......A new credit line of $3500 dollars. I was approved!!!!!!. I was so happy it was indescribable. The hard work had finally paid off. I know this is just the beginning of our journey to a dream but I would like to thank all of you for making me understand the importance of a good credit history. I've read many posts here and your knowledge understanding has inspired me and made me more appreciative of the credit process and without you ...every one of you.....I couldn't have done this. Thank you all.

Starting Score: 721
Current Score: 799
Goal Score: 800


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Mega Contributor
Creditaddict
Posts: 19,422
Registered: ‎10-23-2007
0

Re: I'm in Heaven

WOW, super congrats, you did it yourself.
 
 
Fico Scores: EQ 657 Cabelas, TU 662 Walmart, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
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Over 40 Cards in between :smileytongue:
Contributor
JayToo
Posts: 86
Registered: ‎12-25-2007
0

Re: I'm in Heaven

RR-- I think you are astutely onto something incredibly important-- the beneficial role a nice glass of wine plays in a positive credit journey and high fico scores!!! :smileyvery-happy:

Seriously, I went back and read your posts from last October and am so impressed with your plans and journey. Most importantly, I offer great congratulations on your progress, your new marriage, and look forward to an update in the not-to-distant future about you guys closing on your wonderful new home. Best of luck!!!
Recent Ficos 815+
I do not do business with crooked companies.
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Established Contributor
bamagirl1
Posts: 1,044
Registered: ‎12-30-2007
0

Re: I'm in Heaven

congrats RR your hard work has paid off..kudos to you!
~01/2008 Ficos TU 571-EX 647-EQ 652~
~3/21/2009 Ficos TU 705 EX 702 EQ 692~
~9/9/09 Ficos TU 718 EQ 693 EX???
~06/25/12 Ficos TU 719 EQ 677 EX??
Frequent Contributor
tonsers
Posts: 431
Registered: ‎02-07-2008
0

Re: I'm in Heaven

Congrats to you - your hard work has paid off! :smileyhappy:
Member
purpledog12
Posts: 9
Registered: ‎04-12-2008
0

Re: I'm in Heaven

Congrats, RR......WTG!!!
Regular Contributor
RichRaven
Posts: 239
Registered: ‎08-30-2007
0

Re: I'm in Heaven

   Just wanted to give everyone an update on my quest to establish and maintain a perfect credit history. I applied for a Cap one mastercard with a $2000 dollar limit last night and was approved. Wow...two approvals within a week. I don't want to establish any more new credit until I"ve had time to prove that I'm capable of showing a history with these new accounts. I hope that my BoA secured card will graduate soon with a higher credit limit that will negate me having to increase my limits by applying for a new card.
 
    I would appreciate any advice on what I should do next. Below is a snapshot on my journey to the world of a perfect credit file.
 
 
1. Bank of America Visa secured      $300 high   Balance 0          Opened Aug 2007......Never Late
2. Orchard Bank MC secured            $300 high   Balance $70      Opened Oct. 2007......Never late
3. WaMu Visa                                     $3500 high Balance 0          Opened May 2008..Will never be late
4. Cap One MC                                  $2000 high Balance 0          Opened June 2008.Will never be late
 
   I really don't need to keep balances on these cards but I will use them to pay bills I normally pay with cash such as utilities, cable bill, cell bill, groceries, ect. and as soon as the charges post pay each off online with my checking acct. leaving a small balance to show utilization.
 
   We want to buy a home in May 2009 and we're trying very hard to establish a credit file to help us get the best rates available. My wife doesn't have credit at this time and we thought it was best that I  establish a  good credit history and in time bring her on board on the strength of my credit.
 
    I will continue to update you on our journey through this post and any help you can give will be greatly appreciated. I value your judgements and opinions and I hope to learn from your experience and expertise. Thank you all  for your wonderful comments,  your words inspire us.

Starting Score: 721
Current Score: 799
Goal Score: 800


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Valued Contributor
thrasher865
Posts: 1,163
Registered: ‎05-21-2008
0

Re: I'm in Heaven

[ Edited ]
When you say you want to leave small balances on them to show use, I would only leave a balance on two of them at any given time.
 
That's just based on what I've learned from this forum.


Message Edited by thrasher865 on 06-03-2008 07:58 AM

Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Frequent Contributor
lurknomore
Posts: 356
Registered: ‎10-10-2007
0

Re: I'm in Heaven

Congrats!  Enjoy the rewards of your hard work (in a financially responsible manner, of course)!  :smileywink:
FICO: 8/08 - TU 718; EQ 702; EX 733 (Bonafide 700 club member!)
Next goal: 750s across the board!!
Regular Contributor
RichRaven
Posts: 239
Registered: ‎08-30-2007
0

Re: I'm in Heaven

    Wow...Life moves at you fast...lol...Due to my recent stoke of good fortune I decided to try to get my secured BoA card to unsecured and with a phone call to the nice people there it was accomplished. I was rewarded with a new high credit of $800 and my $300 deposit will be mailed to me shortly. I then decided to really go for broke and contact Orchard. I've read posts here that say that you basically need an act of congress to go from secured to unsecured. They told me I would get my answer in 7-10 days so I'll wait nervously until they contact me but due to my recent string of luck it doesn't matter if they increase it or not. I've only been with them for seven months and they did give me the opportunity to establish credit and I'll treat this card like a lasting memory such as when I got married. I'll cherish it, be patient with it, and grow with it. If anyone has any info on the chances of Orchard graduating my card or know of others who've had this happen in 7 months please let me know.

Starting Score: 721
Current Score: 799
Goal Score: 800


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