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Should I wait?

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kampfer09
Frequent Contributor

Should I wait?

I need some advise as to what to do? I applied for Chase card and got decline due to collection which are going to fall off in couple of months. I have one collection that wouldn't fall off until next year according to TU should I just wait until I applied for card again at least when everything falls off from credit report? I still have my SchoolFirst CU Visa card for the time being and I always paid in full. My current score right now is 716 Experian, 616 EQ, 585 TU. When your collections comes off from CR does your point goes up as well? Please advise. Update: I called Chase back door and they told me if I could take off the collection account from my CR they would approve me. I also applied for AMEX but no word yet. And the last one I Applied is Nordstrom they just wanted to verify my address but I haven't receive anything from them since. What aremy chances of getting the AMEX and Nordstrom?

Message 1 of 9
8 REPLIES 8
enharu
Super Contributor

Re: Should I wait?

Amex is about as strict as chase. Did you apply for charge or revolver?
You probably got approved for Nordstrom if all they want to do is to verify id.

I would wait till everything falls off
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 2 of 9
kampfer09
Frequent Contributor

Re: Should I wait?

I applied for their charge card since I always paid my balance in full.

Message 3 of 9
kampfer09
Frequent Contributor

Re: Should I wait?

My main goal is to get the Chase Sapphire Card since I like the perks they provided. Also I have another dilemma the other collection wouldn't fall off until next year its about $800 should I just pay this off? would it be worth it though? I could make an arrangement from them to take this off if I paid my debt with them. What do you guys think?

Message 4 of 9
MovingForward_2012
Valued Contributor

Re: Should I wait?

Wait for everything to fall off. The only other thing that I suggest is RECON with Chase multiple times. I was approved for a Chase Freedom after recon with a collection on my report from 2009. Same with Barclays and Discover. My CU denied me because of the collection. Chase barked a lot about the collection but Discover and Barclays didn't even ask me about it.

Have you checked your TU report lately? You have a wide range of scores that most likely will hinder you when apply. Why is your score so low on TU when EX is 716? I would find out why if you don't know already and fix it.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 5 of 9
kampfer09
Frequent Contributor

Re: Should I wait?

I was wondering that myself too. I would though that my score should be around more in the 600-700 atleast. I pulled all 3 reports and they do have the same info at least what I can see. is it because of the collection? The other thing I could thing off could be that SchoolFirst CU only report to Experian. What do you guys think?

Message 6 of 9
kampfer09
Frequent Contributor

Re: Should I wait?

Ok, looking at my current CR some of my student loan are not being reported to the other CU is that common?

Message 7 of 9
rebuildingmission2013
Contributor

Re: Should I wait?

If they are private student loans then it is up to the lender if and which to report to.  I would think student loans through the Dept of Education would be reported to all. 

Message 8 of 9
kampfer09
Frequent Contributor

Re: Should I wait?

Ya. I had some loan from Wells Fargo, and Citibank which they didn't report to the other credit agencies.
Message 9 of 9
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