Ok I have 3 charge off's with GE Money Bank Walmart, JCP, and LOWES. These account are almost 7 years old and only JCP is reporting on my TU. My concern is that I may be blacklisted and dont want to waste a TU inquiry. Current FICO is 658. Any advice?
Your 658 current score is higher than my 617 TU was and I applied this past week for Cap One Cash Rewards, Walmart Store Card, and Amazon Store Card. I was approved for all of them instantly online. Cap One checked all and Walmart/Amazon checked TU only. I had a Walmart CO and collections deleted from my report earlier in January so that's why I went on this small app spree. It worked and now I can garden for a while and let my scores build and hopefully see CL increases.
I would probably wait until your JCP falls off just to be sure. It may also depend on what other things are on your reports.
Thanks for you comment Valdo12 I still have several charge off's and collections with a few positives listed below.
1. Orchard/Cap Once secured card $200/$71 Balance opened 2008 ontime and never late
2 Cap One Secured Card $725/$0 Balance Opened 2010
3 Cap One Secured Card $525/$52 Balacne Opened 2011
4 Barclays Apple Visa $1700/$540 Balance Opened 2013
5. Santander Auto Loan Opened 2012.
If GE Blacklisted they would be out of a large percentage of consumers. They deal in primarily store cards that are in general medium to low credit profiles. Other than 0% deals folks with solid credit will be using a regular credit card with lower interest or rewards. If they blacklisted everyone who burned them in the past they would be out a lot of customers. So no, they don't blacklist but this is why their interest rate is sky high, high risk. Do you have any current credit lines? After 7 years you should be fine but any current positive trade lines would certainly help.
Thanks for the Advice...I went ahead and applied tonight.
Walmart Approved $600
Amazon Approved $400
and you can request a cli every four months on a soft pull!(ge accounts)
as well as getting your free tu fico from walmart (by enrolling in paperless statements)
|Current: Discover Fico 709 3/15 Walmart Fico 743 4/15|
Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Earn Cash Back
|Amex Zync(Unicorn) |
Citi DC $10,000