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Need Help With CC's

Established Contributor

Need Help With CC's

Based on a TU 666 score. ULI 35% and 3 current cap 1 with limits of 500,750,750 and 34 inqs ( 20 of them fall off 11/2012) and only 2 ings total in the last 12 months based on myfico. Oh and also I have 7 Collections accts which 4 of the 7 fall off in Nov of 2012. Also income is 50k

 

 

1.) What other cards can I apply for and get paid for so I can get rid of cap 1

2.) What are my chances of approval?

3.) What should I do in general to help the my situation as a whole?

Message 1 of 17
16 REPLIES
Frequent Contributor

Re: Need Help With CC's

You mentioned that 4 of the collections would fall off in November....what about the others? I think taking care of those should be a bigger priority than applying for new credit. Even when 20 of your inqs fall off in November, you'll still have 14 left. That's quite a bit in addition to the collections. Take your time and work with the cards you have. Keep your util low and let them age. Time & patience will do the rest.

Meg.

FICO: 4/2016 - TU 841 | EQ 840 | EX 837

FNBO 23,600 | Amex SPG 13,900 | Amex BCP 13,400 | Barclays/Sallie Mae13,000 | Discover IT 12,500 | Lowes 10,000 | PLOC 9,300 | NASA FCU 8,700 | Citi Simplicity 6,200 | BOA Platinum+ 6,000 | Achieva CU 5,500 | Chase CSP 5,000 | Sam's Club 3,000 | Sears 900
Message 2 of 17
Valued Contributor

Re: Need Help With CC's

how old are the cap1 cards, once those 20 INQ's fall off, pay down your capone cards off with perhaps one reporting less than 9% and the rest at zero, App for an AMEX Zync card should be good if the capone cards are 6months or older. If you can get closer to 700 with the INQ's dropping off and possible improved UTL, you can try  Chase Freedom and Discover More/IT 

 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 3 of 17
Moderator

Re: Need Help With CC's


SpiceIslander wrote:

You mentioned that 4 of the collections would fall off in November....what about the others? I think taking care of those should be a bigger priority than applying for new credit. Even when 20 of your inqs fall off in November, you'll still have 14 left. That's quite a bit in addition to the collections. Take your time and work with the cards you have. Keep your util low and let them age. Time & patience will do the rest.


+1.  Wait until December, re-pull your scores, and then see.  There's a non-zero chance you may be in a higher bracket, right now you're sitting in the unpleasant middle ground between subprime and prime.  

 

It also gives you another 3ish months to bring down your utilization some too if you so choose, and that'll be another boost most likely.

 

Either way, there's no rush to go out and get new cards now when you're establishing credit still; I'm in the same situation and the best thing we have working for us is time, and waiting a bit for a more opportune time is absolutely the optimal path for garnering higher quality approvals in my opinion.

 

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Message 4 of 17
Established Contributor

Re: Need Help With CC's

Im just tired of cap 1. No baddies at all with them period not even once yet I cant get a CLI but they say they are reviewing there CLI policy. I want to get better cards. As far as the other 3 CA they fall off 10/2013 so I been afraid to mess with them and reengage the SOL. There as to be atleast one better cc out there I can get so I can get rif of cap 1

Message 5 of 17
Established Contributor

Re: Need Help With CC's

The cap 1 cards are 2 yrs old

Message 6 of 17
Established Contributor

Re: Need Help With CC's

Time is true that we have. Also in Feb of 13 6 more of my inqs will fall off. Guess Im just desperate to get rid off cap 1

Message 7 of 17
Frequent Contributor

Re: Need Help With CC's


icu2_stl wrote:

Im just tired of cap 1. No baddies at all with them period not even once yet I cant get a CLI but they say they are reviewing there CLI policy. I want to get better cards. As far as the other 3 CA they fall off 10/2013 so I been afraid to mess with them and reengage the SOL. There as to be atleast one better cc out there I can get so I can get rif of cap 1


You'll get there! November is not that far away and you shoud get a score increase then.

Meg.

FICO: 4/2016 - TU 841 | EQ 840 | EX 837

FNBO 23,600 | Amex SPG 13,900 | Amex BCP 13,400 | Barclays/Sallie Mae13,000 | Discover IT 12,500 | Lowes 10,000 | PLOC 9,300 | NASA FCU 8,700 | Citi Simplicity 6,200 | BOA Platinum+ 6,000 | Achieva CU 5,500 | Chase CSP 5,000 | Sam's Club 3,000 | Sears 900
Message 8 of 17
Valued Contributor

Re: Need Help With CC's

man your  inquiry more than my whole family bro.......


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Message 9 of 17
Established Contributor

Re: Need Help With CC's

Thanks

Message 10 of 17