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Established Member
Posts: 42
Registered: ‎09-07-2013
0

My journey.. so far!

[ Edited ]

Hey everyone. Long time lurker and first time poster here. Thought it was finally time to come out and join the ranks Smiley Tongue

 

History

- Started applying to credit cards about 2.5-3 years ago and wound up with tons of denials and inquiries due to thin file and unknown medical collection

- Paid up medical collection but they did not PFD 

- Continued applying for credit cards to no avail. No credit union or even secured cards (what?)

- Gave up applying and stuck with debit cards for awhile

- Score was in the high 500s -low 600s due to collection and 10+ inquiries

 

Near present (3 months ago)

- Received many, many, many, many Discover IT letters in mail and bit the bullet and app'd for the student version. Got the 7-10 dreaded message and called in. Asked to send in verification of being a student... 30 minutues later.. APPROVED! Smiley Very Happy for $500 but was very excited to finally get approved for a decent unsecured card at that.

- Decided to do a mini app spree and see if any other fish bit back.

- Denied for Cap1, Citi Forward, local bank, Chase Freedom, Barclay's.

- CK FAKO score at the time was around 610

 

Present..ish

- Been using Discover IT heavily considering low limit and paying multiple times a month. 3rd statement almost hitting and considering asking for CLI.

- Added onto mom's credit cards as AU. Chase Freedom - $11,000, AMEX BCP $10,000 and Macy's AMEX $15,000

- CK FAKO score up at 673

- Got the itch and app'd for three cards I thought were reasonable:

 

Walmart --> Instant approval $700; Called to recon and bumped to $1200; Excited for TU monthly score

Barclay's Reward MC --> Instant Approval $1200; Called twice and bumped to $2500 (WHAT?!)

Citi Forward Student --> 7-10 message; Called twiceand told denied due to credit history, collection and low revolving credit use; Decided to take it up with the EO. Nice lady said she would look at my file and forward it over to a credit analyst; Next day, called and asked to submit student ID pic; Next day, called and APPROVED for $500. Low limit, but glad to have my foot in the door!

 

So glad those 3 inquiries were not in vain! 

 

Stats now:

CK FAKO: 643 due to inquiries and new accounts and low AAoA (2 years)

Oldest account is student loan accounts 7+ years

Inquiries still stand at 12 inquiries. Most falling off within 6-12 months.

TU Score (according to Barclay letter): 689 - but this was before Citi app

 

Any suggestions on things I should do next? My only plan of attack is to not attack and garden away. And currently working on having collection removed with OC.

 

(Sorry for the LONG post..!)

CapOne VentureOne - $10000 | Costco AMEX - $7700 | CSP - $7000 | United MP Explorer - $7000 | Chase Freedom - $6000 | Chase Hyatt - $5000 | Barclay Rewards MC - $3500 | Citi Forward - $2800 |
Discover IT - $3500 | Walmart - $2400
Community Leader
Senior Contributor
Posts: 27,465
Registered: ‎02-07-2013
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Re: My journey.. so far!

Welcome to the forum

You're off to a good start and now that you have some good TL's I reccomend you head for the garden for 9-12 months and age cards,INQ's,AAoA

Show good payments using all cards for the next nine months 

If you plan on adding cards after that time don't go overboard (1-2)

 

Remember the golden rule...Pay all cards off $0 except one and let that one report a balance between 1-9% 

If you have to make multiple payments monthly that's ok

You have a very thin file so you want to build scores right now along with AAoA

 

Glad to have you come in from lurking and become part of the MyFico family Smiley Happy

+ Chase ink =




Mega Contributor
Posts: 16,811
Registered: ‎08-08-2011
0

Re: My journey.. so far!

Congrats!

US Bank Cash+ (VSig) $10k / US Bank Ace (VSig) $10K / Discover IT $10k
Sam's Mastercard $8.5k / Walmart Mastercard $8k / PayPal SmartConnect $5.1k
CareCredit $5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $3.55k / Citi DC (WMC) $3k
Gardening Date 5/8/15 / MyFico 08: EQ 729 / TU 724 / EX 750 / 7/12/15
Established Member
Posts: 42
Registered: ‎09-07-2013
0

Re: My journey.. so far!

Thanks!

 

I think the only thing I might come out of the garden for is if I am eligible for a Discover CLI. I've been using it so much and would love to have more freedome on it.

CapOne VentureOne - $10000 | Costco AMEX - $7700 | CSP - $7000 | United MP Explorer - $7000 | Chase Freedom - $6000 | Chase Hyatt - $5000 | Barclay Rewards MC - $3500 | Citi Forward - $2800 |
Discover IT - $3500 | Walmart - $2400
Established Member
Posts: 42
Registered: ‎09-07-2013
0

Re: My journey.. so far!

Anyone think I should apply for anything else at this time to age with the others? Trying to group the inquiries altogether 

CapOne VentureOne - $10000 | Costco AMEX - $7700 | CSP - $7000 | United MP Explorer - $7000 | Chase Freedom - $6000 | Chase Hyatt - $5000 | Barclay Rewards MC - $3500 | Citi Forward - $2800 |
Discover IT - $3500 | Walmart - $2400
Moderator
Posts: 27,207
Registered: ‎09-13-2012
0

Re: My journey.. so far!

Welcome to the forum. You have several new accts and inq's to age off on an extremely thin file. The recons and low limits are a sign it is time to let your new accts season before apping.

Give it 9mos to 1 yr and you will see a noticeable difference.
Contributor
Posts: 228
Registered: ‎08-29-2013
0

Re: My journey.. so far!

I want that darn Discover IT soooo bad!


Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (September 19, 2013) 702(EQ) 679(EX) 711(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)

Take the myFICO Fitness Challenge
Bank of America Cash Rewards $300 | Amazon Store Card $800 | WalMart Store Card $1000
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Established Member
Posts: 42
Registered: ‎09-07-2013
0

Re: My journey.. so far!


JamesKnox wrote:

I want that darn Discover IT soooo bad!


Don't worry, you'll get there one day! Perseverance and patience! 

CapOne VentureOne - $10000 | Costco AMEX - $7700 | CSP - $7000 | United MP Explorer - $7000 | Chase Freedom - $6000 | Chase Hyatt - $5000 | Barclay Rewards MC - $3500 | Citi Forward - $2800 |
Discover IT - $3500 | Walmart - $2400
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