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This thread is those of you leaving the world low, toy-like credit limits and have graduated to more mature, big boy (and girl) limits.
Share your stories and tips and give motivation to others!
Welcome to the club!
I thought of myself as having terrible credit for so long that when I started to receive offers in fall 11 I was very surprised. I have HUGE MASSIVE student loan debt, but have been slowly paying it off by sending in double payments for the last three years, this has caused my debt to gradually decrease to a point where I am not mortified to tell people the amount I owe ($72,000 down from $122,000, my husband helped me a great deal by putting some of his savings towards it, which was very nice and a gesture of generosity that I do not take lightly). Luckily our mortgage is very low, so both payments are not killing us.
I had had a CapOne "Platinum" card as well as an Amex Optima since 06, both with limits of $1000. Oddly just last spring the CapOne went from $500 to $1000 without me even asking. The first non-toy limit I was given was the BoA card ($5000) and the Citi card followed several months later ($10,000). About six months later I received a Discover card ($9750) and a bank visa ($10,000). Since being on this board for the past two weeks I have gotten rid of the CapOne and the Optima, which as an oasis card was seriously holding me back. Last week I was approved for a Chase Freedom ($10,000) but after applying instantly realized I wanted the CSP instead. I called them and they offered me both with the CL split between the two cards. I also was approved for the Delta Skymiles ($10,900) last week,
I would say that the biggest factor in my transition has been the fact that for the past six months I have PIF on every card except one balance here or there. Also because my amount of available credit increased significantly, my util dropped a great deal. Unlike my 20s when I was a supremely stupid person with credit cards, I've finally learned my lesson (the hard way) and have made a huge effort to only put charges on the cards that I know I can pay off at the end of the month. One thing that helps me PIF is that I get paid at the end of the month and all my statements cut around the 15th, so I seem to be always on top of what is due when and have the money to pay for it.
For people who are frustrated or impatient BELIEVE ME I have totally been there: jealous of friends who could effortlessly pay for their meals with an Amex Platinum meanwhile I was ordering the cheapest thing on the menu stressing roomI had left on my Cap One ; terrified checking into a hotel for work that my card would be denied, etc. Time is your best friend, I am proof of that!
@webhopper Funny you should mention that...I app'd for the BCP on the same day that I was approved for the Delta Skymiles card. Because that app was still showing as "in the system", the computer put a hold on it. I called and was told that they then had to manually pull the app and that I would find out within a week. The waiting is killing me, needless to say!
Mine happened in June, got my Discover and USAA card, would have had an Amex but Teletrack derailed me. No worries, I found a way to get past that. Sicne then Ive been dropping the builders and trying to put together the perfect wallet.
@DVH1980 wrote:Mine happened in June, got my Discover and USAA card, would have had an Amex but Teletrack derailed me. No worries, I found a way to get past that. Sicne then Ive been dropping the builders and trying to put together the perfect wallet.
What is your way past Teletrack? I have one line on there that will fall off in Nov, but if there is a way around waiting for that to happen I would love to hear.
Its just a theory that another member said he had success with. I called Teletrack and asked if it was possible to lock my report like the other CB's will do, the lady said it was and the cost was 10 bucks. She said it normally takes a few days. I figured with that locked up Amex wont be able to use that info. I figure I will get denied outright or approved since thats what was holding me back. Another member was denied because of Teletrack, he locked his report, app'd Amex and was approved. Figurd for 10 bucks its worth a shot. My baddie on there wont be off for 2 more years so I figured what the hell. I'll send you a PM if I have any luck, plan on applying for Amex at the end of next week.