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This is my first real post on these forums, but i have browsed around and picked up information before my last 2 car loans, and to get some collections tamed.
I know information is key, so here are some stats.
Scores as of this past weekend
EQ:668 TU(fico):654 EX:N/A
Current Accounts Active
VW Credit Loan (5 years, 2 cars, never late)
U.S. Dept Education (TU shows a 90 day 2.7 years ago, EQ no lates)
Best Buy Card (800 CL, 10months, no lates, PIF)
Chase Platinum (500CL, 4 years+, old WAMU CC, never late, balance just PIF today)
Utilization
29 percent as of 8-10-12 (just paid off remaining balance, and i have $25 autopay on one CC that should keep Util under %10)
AAoA
EQ: 7 years
TU: 7 years
INQ
EQ: 3 (oldest being 10/2011 newest being 1/2012)
TU: 1 (10/2011)
Baddies
-AFNI Bloom (2008) that is being disputed and i am now using the BBB approach, since i havent gotten any response in months other ways.
-Student Loan 90 day in 2007 on TU
-Sprint/Target Settlements agreements (i had no idea these would hurt credit at the time)
Goals by New Year (1/2013)
1) All 3 reports above 675, and at least one above my goal of 700
2) Amex (Zync but pre-approved on site for green,gold,Blue)
3) run all my bills off this card to stop using debit card (points and security purposes)
Credit Cards I want to build my credit (dream wallet so to speak)
Amex (zync, Green, Gold)
Discover More
Virgin America/Southwest Airlines Card
Citi Thank You/ Chase freedom(maybe sapphire)
My Questions....
1) Should my recent payoff to bring my util below 10 percent yiedl me my 675+ or 700 score?
2) Should i apply for the AMEX now (as soon as my PIF balance reports) or let it cycle twice and apply after some of my INQ have fallen off in November
3) I have a Chase(check) and Citi (check and sav) account for a few years now. Citi has sent me a nice blue mailer for their Thank You preferred card. Do i have a good chance being approved since i have great standing products with them?
4) Anything else i am missing?
EDIT: I was an AU on my fathers AMEX cards (2 total) for about 4/5 years (03-07, 03-08) as reported on my CR's. How could this play into my success with AMEX?
I would go for AMEX and hope to get auto backdating to 2008 which will help you a lot. I think Zync is a great card but go for whatever charge card you want. Hope you have proof of your previous relationship with AMEX. Don't think the AU status unless current will really help you, but it can't hurt. Mainly I would be going for the AAoA bump.
App for Zync if approved app for green or gold if you want it will be a soft pull.
Wait for the AMEX card(s) to report with your AU based member date, it should help then you may have a better chance with the others on your list. Your score may be a bit low for the other cards, Your baddies are obviously having a big impact, your AAoA of 7 years is awesome get the AMEX card and garden for a while, in a few months and hope your score grows especially if your UTL drops a bit.
@jamesdwi wrote:App for Zync if approved app for green or gold if you want it will be a soft pull.
Wait for the AMEX card(s) to report with your AU based member date, it should help then you may have a better chance with the others on your list. Your score may be a bit low for the other cards, Your baddies are obviously having a big impact, your AAoA of 7 years is awesome get the AMEX card and garden for a while, in a few months and hope your score grows especially if your UTL drops a bit.
I agree go for the Zync if approved go for the gold.
When you say go for the Zync then go for the green/gold. Do you mean wait to apply for the Gold/Green after 60 days? Or apply immediately after approved for a 2 for 1 hard pull?? I have heard about this quick double app. But i also read that if u apply u have to wait 30 days to apply again.
@Pworld wrote:When you say go for the Zync then go for the green/gold. Do you mean wait to apply for the Gold/Green after 60 days? Or apply immediately after approved for a 2 for 1 hard pull?? I have heard about this quick double app. But i also read that if u apply u have to wait 30 days to apply again.
you don't have to wait if approved, but waiting and establishing a payment history and getting your UTL down may help.
@jamesdwi wrote:
@Pworld wrote:When you say go for the Zync then go for the green/gold. Do you mean wait to apply for the Gold/Green after 60 days? Or apply immediately after approved for a 2 for 1 hard pull?? I have heard about this quick double app. But i also read that if u apply u have to wait 30 days to apply again.
you don't have to wait if approved, but waiting and establishing a payment history and getting your UTL down may help.
Got it!! thanks for the advice. I have the itch, but i will wait for this payment to clear just to see how it helps my scores, if any. Being that my 29 percent Util is being noted as a negative on my report.
to the OP, there's some incorrect information above:
1 - if you app and are approved for the Zync you MAY get away with apping for green or gold and it being approved based upon the intial HP, BUT IT'S NOT GUARANTEED. It could very well be a 2nd HP despite it being seconds after the first app
2 - you do not have to wait 30 days to apply for any amex product, provided you've been approved during your last app. Only if you were declined, will you have to wait.
Update: Approved for Zync and Green!! No need for gold and i will be happy with both of these for a while. I think i just want a discover(if anything else) and i will garden for a while.
Notes:
-Checked EX Fako and i was a 627. I hope i get my real Fico experian with a letter from one of the cards.
-My statement with my low balance bringing my util to under 9 percent does not cut until the 24th. But i took a chance at 29 percent.
Thanks to all the help on this thread and encouragement, and to everybody that has shared their experiences on this forum. I loved the rich wealth of information. Now time to get to the 700's by august 2013 and knock off some more CA stuff.
congrats!!