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Am I Eligible? Please read...
Not too long ago, I was wanting to apply for two GE store cards, however, I wasn't sure exactly whether it was the right time to or not. I asked on the board and the consensus was to hold out, mainly due to a lack of supportive report.
Here are some changes since then:
1. Recent collections account has been removed from all three reports
2. Recently, within' the last few days, have paid off an installment account which is likely to be reported to my credit report
3. Have one credit card with a $1,200 credit limit. Latest utilization reported of 79% a month ago. Planning to pay off utilization down to 5% as of tomorrow with tax return. All bills have been paid for four months straight since receiving the card in November 2012
4. Currently have one good account reporting from 2010. One negative account from Cap1 for credit card from 2007, will drop off March 2014
With all the above facts, will I be a potential candidate to apply for a GE store card, or two, and have approval? Or should I wait a bit longer.
I checked my Experian score about a week ago and it was at 611 in December, dropped to 590 in January (recent collections was being disputed, plus high utilization rate), and has recently went back up to 620 a week ago. I will be checked my TU score tomorrow. Last checked in December and had 652. EQ (unknown.)
Thanks to everyone for their response.
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@YoungMoney06 wrote:Am I Eligible? Please read...
Not too long ago, I was wanting to apply for two GE store cards, however, I wasn't sure exactly whether it was the right time to or not. I asked on the board and the consensus was to hold out, mainly due to a lack of supportive report.
Here are some changes since then:
1. Recent collections account has been removed from all three reports
2. Recently, within' the last few days, have paid off an installment account which is likely to be reported to my credit report
3. Have one credit card with a $1,200 credit limit. Latest utilization reported of 79% a month ago. Planning to pay off utilization down to 5% as of tomorrow with tax return. All bills have been paid for four months straight since receiving the card in November 2012
4. Currently have one good account reporting from 2010. One negative account from Cap1 for credit card from 2007, will drop off March 2014
With all the above facts, will I be a potential candidate to apply for a GE store card, or two, and have approval? Or should I wait a bit longer.
I checked my Experian score about a week ago and it was at 611 in December, dropped to 590 in January (recent collections was being disputed, plus high utilization rate), and has recently went back up to 620 a week ago. I will be checked my TU score tomorrow. Last checked in December and had 652. EQ (unknown.)
Thanks to everyone for their response.
Once your reports update and your scores are around 620 on TU you should be good. Make sure that your collections are gone, util low - you should be fine for Walmart.
My wife with a credit karma score of 590 or so, with 2 collections, 3 CO, 4 lates on 2 different car loans from 09, and a 99% util on her cap1 cc got approved. The collections and the CO are from 2008/09, so they are old, and no new recent badies. I would say you should be fine. Also the week after she got her JCPenny card, she applied for an amazon one but got the will get an answer in the mail, she call recon and still got denied.
I think my denial was contributed to by the recent collection (more of a reaged account) that has since been removed. I applied for Wal Mart and Amazon with no luck. I'm considering applying for Wal-Mart at least. I should have a 652 TU score, 620 EX, and EQ is unknown. Finally, I have a 637 CreditKarma score. Has anyone been approved for an Amazon card with similar rankings?
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You should apply for Walmart first this way you get your fico...then amazon...even old navy lol
You will receive a decision by mail in the next 7–10 days. Please make a note of your application's reference number for your records: ******
Fixing to give up, I'm assuming this only means, once again, with a much cleaner report, I'll NEVER get approved for a GE card. Jesus, what does one have to do. I had a recent collections removed. My utilization may be the only thing hurting me right now, but with a 641 score, what more does a credit card need to see?? Bitter to see so many with worse circumstances (nobody on here) than I am get approved while I'm improving and not getting approvals.
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