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New Contributor
squirrely2005
Posts: 83
Registered: ‎02-01-2012
0

One more inquiry

I'm looking for one more inquiry. I've applied a few times this year every like 2 months so I've added a good amount. And some applications for a car loan are showing as one. Maybe It's because I never got a loan after all because it ended in my gf and her moms name instead. From what I've read I have to actually get a loan but that sounds a little unfair.

 

Anyway I have 5 cards. CareCredit 500Cl, CU 1kCl, Jcrew 930Cl, Cap1 500CL, and recently a NFCU 5kCl. There was an inquiry from the NFCU obviously so I wanna go for maybe one more card and hopefully a "prime" card and then garden for about a year. Jcrew gave me an auto increase at about 4 months but I can't even get one from GE. It's probably cuz I've been paying them off $25/month for about a year now. I also got an increase from my CU but when I thought I was asking for an extra 1k I asked for my CL to be 1k.

I'm thinking maybe Zync but do y'all think I'd qualify? I know they don't like inquries but I can explain that most are from when I was car shopping and I have 2 lates from a little over 2 years ago and that's the only bad thing. I know chase is good and all but I don't really care to get a card from them and I used to like Discover but they don't seem to grow too much and the CLs turn me off.

 

I really have my eyes on Zync but I'd like to know what y'all think. Or should I just ask for another CL increase on my CU card?

Valued Contributor
rootpooty
Posts: 1,747
Registered: ‎10-28-2011
0

Re: One more inquiry

In order for us to help you out we need more info.  What are your FICO scores?  Whats your AAOA?  What derogs are listed on your reports?  How many inquiries are on your reports from the last year?

 

Watch out for just making a min payment for so long on one account and opening other accounts as well.  It signals trouble and a creditor may shut you down

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: One more inquiry


rootpooty wrote:

In order for us to help you out we need more info.  What are your FICO scores?  Whats your AAOA?  What derogs are listed on your reports?  How many inquiries are on your reports from the last year?

 

Watch out for just making a min payment for so long on one account and opening other accounts as well.  It signals trouble and a creditor may shut you down


 

I agree, try PIF with GE for the next 4 months and they may start giving you CLI's.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
New Contributor
squirrely2005
Posts: 83
Registered: ‎02-01-2012
0

Re: One more inquiry

I'm not sure of my Fico. My FAKO on creditkarma is a 634 which i know doesnt mean much. I got a letter from NFCU when I applied and they told me that my score was 630 which has probably gone up after adding 5k to my credit. The only derogs are those two lates that are just over 2  years old and creditkarma says I have 12 inquires. My AAoA is around 1.5 years.

I wanna buy my fico score but I'm not sure if I will yet.

 

They only reason I'm making minimum payments is because it's interest free until june '13 so I'm trying to pay everything down that has interest first. But from what I've read it's good to pay down your smallest balance first. Get that momentum going. I've got it going though. For the whole month of August I'm paying about 2k off.

Valued Contributor
creditnocash
Posts: 2,236
Registered: ‎07-23-2012
0

Re: One more inquiry


squirrely2005 wrote:

I'm not sure of my Fico. My FAKO on creditkarma is a 634 which i know doesnt mean much. I got a letter from NFCU when I applied and they told me that my score was 630 which has probably gone up after adding 5k to my credit. The only derogs are those two lates that are just over 2  years old and creditkarma says I have 12 inquires. My AAoA is around 1.5 years.

I wanna buy my fico score but I'm not sure if I will yet.

 

They only reason I'm making minimum payments is because it's interest free until june '13 so I'm trying to pay everything down that has interest first. But from what I've read it's good to pay down your smallest balance first. Get that momentum going. I've got it going though. For the whole month of August I'm paying about 2k off.


credit karma is a fako of tu. they are the slowest to report. i beleive there was a 30 point difference between fico and that report. but ymmv

 

what your referring to is the pyramid scheme. 

where you pay off your smallest balance.(minumum+10%) (still pay minumum on others)

then add that to your next smallest balance and so forth. 

eventually creating the snow ball effect. 

Current: Discover Fico 689 8/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/05/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Valued Contributor
android01
Posts: 1,208
Registered: ‎09-22-2009
0

Re: One more inquiry

Stop asking for CLI's and don't apply for anything for at least a year.  You need to get your FICO scores, first of all, and then you need to chill with any applications to get your scores up.  Otherwise it's a never ending circle of crappy CL's and APR's.  Avoid this if at all possible because it's not easy to get out of.     

EQ FICO - EQ08 - 850 -9/2/14
TU FICO - TU08 - 850 - 7/18/14
EX FICO - EX08 - 850 - 7/18/14
New Contributor
squirrely2005
Posts: 83
Registered: ‎02-01-2012
0

Re: One more inquiry

@Olegwashere yeah creditkarma was at like 610 before which would have been the same time NFCU said I had a 630 which was a TU score. So hopefully my score has jumped to about a 650 but obviously I'd only know if I bought it.

 

@android01 Yeah I plan on it. I've only asked for a CLI on my CU card once in the whole 3 years I've had it. I think I'll try for one more cli from them and call it quits for a year. I just want to do it now if I'm going to since I just appd for nfcu.

Regular Contributor
HenryJumbo
Posts: 136
Registered: ‎07-21-2012
0

Re: One more inquiry


android01 wrote:

Stop asking for CLI's and don't apply for anything for at least a year.  You need to get your FICO scores, first of all, and then you need to chill with any applications to get your scores up.  Otherwise it's a never ending circle of crappy CL's and APR's.  Avoid this if at all possible because it's not easy to get out of.     


I notice this too. People with low FICO scores are always chasing "just one more" and stay stuck in the cycle of having toy cards with low limits. And to justify this they say I'll just get another card with a high CL and better APR, but they can't because of their score so they remain the the cycle of FICO poverty.

 

Starting Score: EX: 736 FAKO | TU: 757 FICO | EQ 730 FICO
Current Score: EX: 736 FAKO | TU: 750 FICO | EQ 730 FICO
Goal Score:     EX: 750 FICO | TU: 750 FICO | EQ: 750 FICO
In my wallet:  $12,500  $8,000
Established Contributor
calihlove75
Posts: 787
Registered: ‎05-16-2012
0

Re: One more inquiry


squirrely2005 wrote:

I'm not sure of my Fico. My FAKO on creditkarma is a 634 which i know doesnt mean much. I got a letter from NFCU when I applied and they told me that my score was 630 which has probably gone up after adding 5k to my credit. The only derogs are those two lates that are just over 2  years old and creditkarma says I have 12 inquires. My AAoA is around 1.5 years.

I wanna buy my fico score but I'm not sure if I will yet.

 

They only reason I'm making minimum payments is because it's interest free until june '13 so I'm trying to pay everything down that has interest first. But from what I've read it's good to pay down your smallest balance first. Get that momentum going. I've got it going though. For the whole month of August I'm paying about 2k off.


I would buy your fico scores so you know exactly where you stand. Could you attempt to goodwill those lates? That is what I would focus on. I would let that nice limit from NFCU age for at least 6-12 months with a good payment record so a prime lender might look at that and match or exceed that limit. I would not app for anything right now.


100% Ficos: EX 762, TU 767, EQ 754 Inquiries last 1 year/6 months: EX-0/0, TU- 0/0, EQ-2/1~ last credit card app 6/24/13- New car loan 3/8/2014
Discover IT $8000~Kohls $1000~Amex BCE $2000~ Walmart Discover $7500~NFCU Signature CashRewards $14,000~ Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $2500~ Amazon Store $7000~ Fingerhut $1050

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