@Anonymous wrote:Hey guys, so I recently starting bouncing back from CA's and sub-550 scores with wiping off a ton of old CA's due to them not verifying/debt was SOL. I've already "screwed up" by applying for, and getting, about 6 different cards:
Kohls $300, just upped to $700 this month
OldNavy $300, upped to $500 (store version, not VISA one)
Amazon $1000 (store version)
Credit One $300
Capital One Platinum $300
Capital One Quicksilver $500
Now, I tried increasing the limit on the one CC and the denial letter was nothing more than 'Accounts with payments greater than minimum balance too frequent/high in the past 6 months' and 'Accounts with payments greater than minimum balance too frequent/high in the past 12 months' (wording similar to that) and it threw me for a loop because if the wording means what it reads like... it's actually not a good thing (when rebuilding credit at least) to pay more than the minimums every month?
Side-note/questions, and it certainly might be the Quicksilver card "causing this", but it has 1.5% cashback, so I try to use that EVERYWHERE and then just re-pay the amount I just charged as soon as it posts, purely for the cash-back. Is that "bad" and/or will CC companies try to close accounts that "game" the system like that?
It makes no sense at all. It's a plus to pay as much as you can, and it's best to pay it down to zero.
@Anonymous wrote:Hey guys, so I recently starting bouncing back from CA's and sub-550 scores with wiping off a ton of old CA's due to them not verifying/debt was SOL. I've already "screwed up" by applying for, and getting, about 6 different cards:
Kohls $300, just upped to $700 this month
OldNavy $300, upped to $500 (store version, not VISA one)
Amazon $1000 (store version)
Credit One $300
Capital One Platinum $300
Capital One Quicksilver $500
Now, I tried increasing the limit on the one CC and the denial letter was nothing more than 'Accounts with payments greater than minimum balance too frequent/high in the past 6 months' and 'Accounts with payments greater than minimum balance too frequent/high in the past 12 months' (wording similar to that) and it threw me for a loop because if the wording means what it reads like... it's actually not a good thing (when rebuilding credit at least) to pay more than the minimums every month?
Side-note/questions, and it certainly might be the Quicksilver card "causing this", but it has 1.5% cashback, so I try to use that EVERYWHERE and then just re-pay the amount I just charged as soon as it posts, purely for the cash-back. Is that "bad" and/or will CC companies try to close accounts that "game" the system like that?
Welcome to the forums. I helped a friend start rebuilding, it was two years post her bankruptcy. We went with cap one, quicksilver one. It was THE ONLY card. Started at 500, just got soft pull cli of 1k (she has yet to understand how this works, just told her it was a forum trick
). She paid more than the minimum. Methinks those other accounts are biting you. The scores climb out of the 500's quickly when you introduce one card. Do not cancel cards at this point in time. Do not get any more cards at this point in time. Work on your reports first. That is THE only guaranteed way to increase score. Any more cards will cause AAoA to drop, and be low limit.
Make the the rebuilding your credit forum your friend. I successfully removed collections that were scheduled to drop off by 2019. There is a lot of info to help, and it is A LOT OF WORK. There is no bypassing this step. Good things come to those who wait. You can not expect to climb to the finish line in a year. You can with 3 years, IF you clean up your report.