I think I'm DONE (HUGE Thanks to this community)

[DBSH]

About 4 years ago, my credit was dismal. This community gave me all the tools for dealing with existing delinquent debt and solutions on how to get back to normal credit. 

I dealt with the debt and slowly but surely things were falling off and closing. I was able to get a two secured cards and a store card. Those later turned into unsecured cards. I was slowly getting approved for things and I now have a somewhat resectable wallet with a CapOne, BOA, Discover, Amex & BarclaysCard cards. My AAoA and Inq are still poor ...for obvious reasons, so I'm gardening until 2017. I am going to ask for the 61 day CLI from Amex and BarclaysCard, but I can't see myself needing more cards this year.

I didn't address the credit problems with severe urgency so I am sure everything could be accomplished alot faster, but the first year was a little tough to deal with given that my score was in the low to mid 500s. This was such a tremendous learning experience for me in so many ways that I feel like this had to be put out there as a thank you and maybe a story for people who think they are in a hopeless situation. 

Thank you again everyone!

[creditguy]

A somewhat respectable wallet? So modest, I'd say you have a very respectable wallet. Congrats on all your success!!! This forum has been incredibly helpful for me as well and I too am content with my wallet for now and am gardening for the foreseeable future.

Thanks for sharing, it really is helpful for others to see what is possible and when it comes to credit it can seem hopeless at times when things are in the dumps, so it's great to see there is light at the end of the tunnel, again Congrats on your success!!!

[mikelo22]

I agree, you're  being far too modest.  Your credit profile looks great!  So nice to hear these success stories.  I think we're all pretty fortunate to have stumbled upon myFico

[Anonymous]

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@DBSH wrote:

About 4 years ago, my credit was dismal. This community gave me all the tools for dealing with existing delinquent debt and solutions on how to get back to normal credit. 

I dealt with the debt and slowly but surely things were falling off and closing. I was able to get a two secured cards and a store card. Those later turned into unsecured cards. I was slowly getting approved for things and I now have a somewhat resectable wallet with a CapOne, BOA, Discover, Amex & BarclaysCard cards. My AAoA and Inq are still poor ...for obvious reasons, so I'm gardening until 2017. I am going to ask for the 61 day CLI from Amex and BarclaysCard, but I can't see myself needing more cards this year.

I didn't address the credit problems with severe urgency so I am sure everything could be accomplished alot faster, but the first year was a little tough to deal with given that my score was in the low to mid 500s. This was such a tremendous learning experience for me in so many ways that I feel like this had to be put out there as a thank you and maybe a story for people who think they are in a hopeless situation. 

Thank you again everyone!

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61 day cli is not around anymore.  You go 90 days between denials, and 6 months between approvals. Anything above 25k on a card they may ask for 4506T I think $24,500 is the magic number.  Amex has tightened the reigns with 3x CLIs, more folks report higher success with waiting a few months of use if its a new account.

You have somre great cards!  I would just make sure you have all of your cash back categories covered, pay little, if any interest, use your ring, disco,  and cap1 for debt shuffles as needed

You could always use up some inquiries later on to get some bonuses.  A free plane ticket or a few nights in a hotel room or $150, $200, $400, starts to add up!

Anyways great job, great cards, great limits! Thank you for sharing your story!

[Anonymous]

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@DBSH wrote:

About 4 years ago, my credit was dismal. This community gave me all the tools for dealing with existing delinquent debt and solutions on how to get back to normal credit. 

I dealt with the debt and slowly but surely things were falling off and closing. I was able to get a two secured cards and a store card. Those later turned into unsecured cards. I was slowly getting approved for things and I now have a somewhat resectable wallet with a CapOne, BOA, Discover, Amex & BarclaysCard cards. My AAoA and Inq are still poor ...for obvious reasons, so I'm gardening until 2017. I am going to ask for the 61 day CLI from Amex and BarclaysCard, but I can't see myself needing more cards this year.

I didn't address the credit problems with severe urgency so I am sure everything could be accomplished alot faster, but the first year was a little tough to deal with given that my score was in the low to mid 500s. This was such a tremendous learning experience for me in so many ways that I feel like this had to be put out there as a thank you and maybe a story for people who think they are in a hopeless situation. 

Thank you again everyone!

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Congrats on your success and thanks for sharing your story. Keep up the good work!

[Anonymous]

A fantastic story! Congratulations!

[Anonymous]

Congrats! We'll miss you!

[Anonymous]

Congrats on your "respectable" (read GREAT) wallet and working yourself back up the credit ladder!

[jeffery581]

I am in the same boat. In fact I closed 5 store cards today and 5 more are being closed tomorrow. 6 years of hard work. Started out in low 500s now amex says 742 fico.

Lots of very nice and informative people on here.

BTW when closing Kohls they asked why, I said credit limit to low. She said they could raise it to 3k from 700. I ended up closing anyway but for those interested, Threatening to close a kohls card because of a low limit might get you a decent limit.

My credit works for me now, I do not work for it.

[Anonymous]

Congrats and what a great motivation for the rest of us! I found these forums as well about 6 months ago and with what I've learned so far (and continue to learn almost daily) I have already brought my scores up 50-70 points each, and am almost into the final cards I will use for the next 5+ years, as well as into a relatively low interest auto loan that I'm paying off at 400% speed due to better money management.

We can all learn from and support each other in this, so again thank you for sharing your success! It motivates me to continue working hard and intelligently at this credit game!