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Subprime Monkey

Established Member

Subprime Monkey

I've been trying so hard for so long (just the last year or so Smiley Happy)  to get this subprime monkey off of my back, but I just can't shake it!!! I went from two years ago not having any line of credit what-so-ever, to finally biting the bullet and getting a few subprime cards because I couldn't get a secured card. Then I was FINALLY able to obtain a Capital One Secured card and the subprime offers kept coming. I decided to take the chance so that I can have some type of credit to build on, then I was approved for a $25k car loan on a 2012 last year, have received a few increases on my cards, but still no luck from a prime card yet Smiley Sad . The only thing that has happened was in the past few weeks as I was shoppping here or there whether in store or on-line, I was offered a card through pre-approval. My question is how long do you guys think I have to wait before I can 86 the subprime life and step into a card with lower interest and great rewards??? What can I do??

July, 02 EQ-615 TU-624 EX-??

Cap 1 Secured, Cap 1 (ex. Orchard), 4 subprime, 8 store, 3 catalog cards and 1 gas

AAoA 3yrs 2mths
Message 1 of 7
6 REPLIES
Valued Contributor

Re: Subprime Monkey


Scorpiion wrote:

I've been trying so hard for so long (just the last year or so Smiley Happy)  to get this subprime monkey off of my back, but I just can't shake it!!! I went from two years ago not having any line of credit what-so-ever, to finally biting the bullet and getting a few subprime cards because I couldn't get a secured card. Then I was FINALLY able to obtain a Capital One Secured card and the subprime offers kept coming. I decided to take the chance so that I can have some type of credit to build on, then I was approved for a $25k car loan on a 2012 last year, have received a few increases on my cards, but still no luck from a prime card yet Smiley Sad . The only thing that has happened was in the past few weeks as I was shoppping here or there whether in store or on-line, I was offered a card through pre-approval. My question is how long do you guys think I have to wait before I can 86 the subprime life and step into a card with lower interest and great rewards??? What can I do??


LOL I manage restaurants and know oh too well about 86'ing....Welcome to the forums!!! It can depend on a lot of things... do you have any baddies (derogs)???how many INQ in the past year???what is your current UTIL??

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Message 2 of 7
Mega Contributor

Re: Subprime Monkey


Scorpiion wrote:

I've been trying so hard for so long (just the last year or so Smiley Happy)  to get this subprime monkey off of my back, but I just can't shake it!!! I went from two years ago not having any line of credit what-so-ever, to finally biting the bullet and getting a few subprime cards because I couldn't get a secured card. Then I was FINALLY able to obtain a Capital One Secured card and the subprime offers kept coming. I decided to take the chance so that I can have some type of credit to build on, then I was approved for a $25k car loan on a 2012 last year, have received a few increases on my cards, but still no luck from a prime card yet Smiley Sad . The only thing that has happened was in the past few weeks as I was shoppping here or there whether in store or on-line, I was offered a card through pre-approval. My question is how long do you guys think I have to wait before I can 86 the subprime life and step into a card with lower interest and great rewards??? What can I do??


Sounds like a year of gardening will get that monkey off of your shoulder!!! Smiley Happy




EQ FICO 548 3/3/16
Message 3 of 7
Established Member

Re: Subprime Monkey

this year just one inquiry, I'm still waiting on like 13 to fall off Smiley Surprised ...yeah I know thats alot but I didn't know about it until last year in August from being on here, thats when I stopped. The derogs and baddies are from like 7++ years ago which I pay something off of my report every month and the utilization is at 32%, it has come down a long way from 50% around the holidays.

July, 02 EQ-615 TU-624 EX-??

Cap 1 Secured, Cap 1 (ex. Orchard), 4 subprime, 8 store, 3 catalog cards and 1 gas

AAoA 3yrs 2mths
Message 4 of 7
Valued Contributor

Re: Subprime Monkey


Scorpiion wrote:

this year just one inquiry, I'm still waiting on like 13 to fall off Smiley Surprised ...yeah I know thats alot but I didn't know about it until last year in August from being on here, thats when I stopped. The derogs and baddies are from like 7++ years ago which I pay something off of my report every month and the utilization is at 32%, it has come down a long way from 50% around the holidays.


I agree with LS but to also add if your baddies are 7+ years old you should be able to make them go away pretty easily.. 

 

Best of luck!!!!

 

Beb

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Message 5 of 7
Established Member

Re: Subprime Monkey

Thanks guys...I never had a green thumb!! Guess I'll give it a try
July, 02 EQ-615 TU-624 EX-??

Cap 1 Secured, Cap 1 (ex. Orchard), 4 subprime, 8 store, 3 catalog cards and 1 gas

AAoA 3yrs 2mths
Message 6 of 7
Valued Contributor

Re: Subprime Monkey


Scorpiion wrote:

I've been trying so hard for so long (just the last year or so Smiley Happy)  to get this subprime monkey off of my back, but I just can't shake it!!! I went from two years ago not having any line of credit what-so-ever, to finally biting the bullet and getting a few subprime cards because I couldn't get a secured card. Then I was FINALLY able to obtain a Capital One Secured card and the subprime offers kept coming. I decided to take the chance so that I can have some type of credit to build on, then I was approved for a $25k car loan on a 2012 last year, have received a few increases on my cards, but still no luck from a prime card yet Smiley Sad . The only thing that has happened was in the past few weeks as I was shoppping here or there whether in store or on-line, I was offered a card through pre-approval. My question is how long do you guys think I have to wait before I can 86 the subprime life and step into a card with lower interest and great rewards??? What can I do??


Welcome to myFICO. Give it some time, things will only get better as long as you continue to do the right things. Good luck!

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Message 7 of 7