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Established Contributor
Posts: 570
Registered: ‎03-29-2008
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PenFed finale ! I'm done for 1yr...

[ Edited ]
Well, I just got off of PenFed website and was approved for a 7500cl card. This will be my last inquiry for me for 365 days minimum. I am now going to work on help fix my wife's credit while maintaining and fine tuning mine.
I started last Sept '07 by attacking my three credit reports with disputes and GW letters. My scores were in the mid to low 500's and I had about 25 negative items total.
I have one current auto loan with 18 -30 day lates,1 -60,and 1-90. I had no credit cards at all for quite a few years (and the ones I did were many of the baddies).
In Sept. '07 I vowed I was going to fix this and applied for a $200 secured Orchard card. Slowly I had things removed and applied for new credit. Some things came off, some cards were denied, and I know I have too many inquiries but I'll wait out the one year for that mistake starting today.
As of today I have two negatives on all three CR. The auto loan that I'm still GW'ing. It's current and on autotmatic withdrawal payments, and an old Verizon account thats paid but still getting a GW monthly.

Seven months later here's were I am,
9/07 Orchard $200 secured
12/07 Cap1 $300cl - increase cl to $1000 4/08
1/08 Orchard $500cl - increase cl to $700 4/08
3/08 Chase Rewards $3500cl
3/08 Cap1 $300cl (will combine the two at first three month increase)
3/08 Lowes $700cl
3/08 Mens Warehouse $700cl
4/08 B of A $3000cl
Today - PenFed $7500 cl
Denied - WAMU, Amex twice, CITI 3 times, BofA, GE Money, Citifinancial, Lowes, and Paypal.
I had Citi,BofA,Citifinancial,Lowes,Paypal remove the inquiries with inquiry dispute/GW letters

From $200 secured to $7500cl in 7 months.

Total credit available $28,600
Balances on all - $198
I pay everything one week later at the most.I think thats the key for me at least

Thats enough, probably too much and too many inquiries but that will be part of the maintaining and fine tuning.
No more hard pulls for a year if totally avoidable.

As of today my FICO's read
EX 653
EQ 726
TU 690


Seven months of hard work and I actually only found this site one week ago !!!

Thanks for listening and good luck to anyone else who is in the struggle to reclaim their credit.

Jaxstraw from Wichita (New York really)

Message Edited by jaxstraw on 04-12-2008 01:37 PM

Message Edited by jaxstraw on 04-13-2008 03:34 AM

Message Edited by jaxstraw on 04-13-2008 03:34 AM
Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Frequent Contributor
Posts: 455
Registered: ‎11-27-2007
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Re: PenFed finale ! I'm done for 1yr...

CONGRATS wtg:smileyhappy:
GOAL FOR 2010 Paying Down Debt .........653 EQ 685TU EXP???
Senior Contributor
Posts: 3,432
Registered: ‎08-27-2007
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Re: PenFed finale ! I'm done for 1yr...

thier on my list too, congrats!
Established Contributor
Posts: 878
Registered: ‎04-08-2008
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Re: PenFed finale ! I'm done for 1yr...

Congratulations Jax!!! What a turnaround in only 7 months' time!!!
 
Question: which credit report(s) did PenFed, Mens Wearhouse and Chase pull
on you? I think Chase is EX but I'm not 100% sure.
 
Thanks in advance for getting back to me, and major CONGRATS again.
Very impressive work!!!
 
CanDo
 
"The right attitude is everything"
Regular Contributor
Posts: 198
Registered: ‎01-25-2008
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Re: PenFed finale ! I'm done for 1yr...

They are in my crossjairs too! Jan09 i go hunting ..hehehe.. I have to let some Inq. drop off so i look a bit more enticing. But on the plus while i am waiting i am paying down big chuncks of debt i incurred last year. DEBT FREE HERE I COME!! oh and penfed too.
apping spree or shopping spree...lesser of 2 evils???hmmm
Established Contributor
Posts: 570
Registered: ‎03-29-2008
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Re: PenFed finale ! I'm done for 1yr...

I know that Mens Warehouse pulled only my EQ. That goes for all other GEMB cards as well. Chase only pulled TU. I'm in NY but it is probably different for other states. You can check whogavemecredit.com and compare for your area.
PenFed I don't know yet but according to the site I mentioned they seem to pull EX. Once I get my report or notification of changes to my report I'll let you know.
Thanks for the kind words and encouragement.
Good Luck.
Jax
Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
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Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
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Re: PenFed finale ! I'm done for 1yr...

Congrats! such a great card. I love having my cash back posted every month on my statement.

PenFed pulled EQ on me, and that's all I've ever seen for them. Please post back if they pulled EX, which would be new.

Also, that one inq is good for a month, I think it is, in case something else there looks good to you. :smileywink:
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Established Contributor
Posts: 570
Registered: ‎03-29-2008
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Re: PenFed finale ! I'm done for 1yr...

What do you mean it's only good for a month ??? If your approved they only stay on one month??
I'll let you know about the EX or EQ thing when I know
Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Moderator Emerita
Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
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Re: PenFed finale ! I'm done for 1yr...

No, no, and I just looked at some other older posts...

The inq will cover any additional product apps you make for 60-90 days per other posts (not a month) without an additional hard inq.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Established Contributor
Posts: 570
Registered: ‎03-29-2008
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Re: PenFed finale ! I'm done for 1yr...

Maybe I'm a little slow so please forgive me. Are you saying anything I do with that card ( such as a CL) will not count as an inquiry for 90 days.
I really don't know the lingo yet but don't want to test your patience.
Thanks
Jax
Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face

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