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Senior Contributor
youngandcreditwrthy
Posts: 6,137
Registered: ‎08-16-2012

Re: Time To App? Give me your 2¢...

Obvi 720 is a good score, but I don't think that's a cutoff for lenders for approval-maybe to a better apr. Most prime lenders approve at 680 or above... But of course, ymmv!
That lien is prob dinging your score by 50 pts. Because it is the only negative thing you have, it counts more :-/
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k | Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Community Leader
Valued Contributor
improvingmycredit
Posts: 1,384
Registered: ‎07-12-2011

Re: Time To App? Give me your 2¢...

[ Edited ]

youngandcreditwrthy wrote:
Obvi 720 is a good score, but I don't think that's a cutoff for lenders for approval-maybe to a better apr. Most prime lenders approve at 680 or above... But of course, ymmv!
That lien is prob dinging your score by 50 pts. Because it is the only negative thing you have, it counts more :-/

+1. Also, Amex will likely deny you for that unpaid tax lien even though it's so old. Correction: 650- 699 FICO is considered a good score by many lenders.  The difference is typically higher starting limits and lower APRs to get it over 700.  750 is the next barrier.  I'm attaching a graph just for info purposes.  Please excuse the "you are here".

riskchart2.gif

 


Starting Score: 642
Current Score: EQ 798, EX 780, TU 787 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, QuickSilver 20K, TotalRewards 18K

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Established Contributor
zyzzus
Posts: 522
Registered: ‎10-22-2012

Re: Time To App? Give me your 2¢...

I just wanted to articulate that the Fidelity Amex is actually issued through FIA card servcies.

I don't knowmy exact score on EQ yet (which is what they pulled) as I haven't received the card yet.  The other two cras have me just  under 700.  My approval was not instant online, however, a VERY quick call to underwriting just gave me the decision I didn't have to recon with 5,000 limit.  I had my 401k and roth investments there for around 3 years (took them out when I started with chase) but still have a brokerage account with ~$5000 for the last four years.  I believe that influenced the decision but I am not compltely sure.

Capital One Quicksilver- $5,000 (Thanks Cap1 Executive Office <3) | Chase Freedom - $7,100 | Chase Amazon -$1,000 | Priceline Visa -$10,000 | US Bank Cash+ - $18,200 (I know what an odd limit) | Fidelity Amex -$10,000 | Sallie Mae- $10,000 | Walmart $15,000 | DCU Platinum $12,000 | Discover IT - $7,500 | Amex EveryDay$10,000 

Community Leader
Valued Contributor
improvingmycredit
Posts: 1,384
Registered: ‎07-12-2011

Re: Time To App? Give me your 2¢...

[ Edited ]

Movin_on_up wrote:

Mustangfrank - Chase seems like a lock to me too and will look into the trifecta down the road.  Thanks!

 

HiLine - Thanks for the kind words and strategy.

 

improvingmycredit - Thanks for the reasoned info and a spirited discussion is one of the things that makes this place great!  The info about the tax lien is important as it's unpaid.  (I don't owe it but it's on me to prove it - long story but I'm working my butt off to get it corrected)  I don't think it's hurting my score too badly as it pretty old but I could be wrong.

 

Is a 720 FICO really an important step for some CC companies?


720 for me was the difference in APRs and limits.  I know that 600 on the graph posted above shows as 31% risk but I wasn't able to obtain a CU card till I was at 620.  It is true that you can get approval with many lenders with a score above 680.  You have a good score and should be proud of it.  I'm truly just worried about the unpaid tax lien.  For many, it's a deal breaker.  If you PM me the specifics of the lien, I may be able to help.  I had a state tax lien that was falsely reported on my reports too.... it was a bear to get off but I did it.  Took me 2 solid months of constant back and forth between the court it was filed in, the state advocates office and me.  Had no problem putting incorrect info on my credit report but man, it was all on me to prove it wasn't correct even with letters of apology from the state.  


Starting Score: 642
Current Score: EQ 798, EX 780, TU 787 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, QuickSilver 20K, TotalRewards 18K

Take the FICO Fitness Challenge
New Contributor
Movin_on_up
Posts: 52
Registered: ‎01-31-2012

Re: Time To App? Give me your 2¢...

Youngandcreditwrthy - Thanks for the info.  I really hope that lein is 50 points (I'll be happy with 15).  Will be redoubling efforts to get it knocked out.

 

Zyzzus - Thanks for the clarification on Fidelity card.  I'll give that one a good look as they are managing +$80k for me.  Maybe that will help out.

 

improvingmycredit - Thanks for the kind words.  I cannot see the chart but get the points.  I will wait on the Amex app until I get the lien cleared out.  I'll PM you regarding the lien; thanks for offering to take a look.

 

 

Fingers itching...  might begin app'ing tonight.

Starting score:
EQ FICO 702 (1/1/2012)

Current scores:
TU FICO 785 (12/28/2013)
EQ FICO 791 (12/28/2013)
EX FICO 791 (12/28/2013)
TU-08 FICO 776 (12/10/2013)

Wallet: Chase Freedom $12,600 - Discover More $12,600 - Walmart $1,000 - Capital One MC $500
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011

Re: Time To App? Give me your 2¢...

no I will not give you my 2% of a dollar


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
New Contributor
Movin_on_up
Posts: 52
Registered: ‎01-31-2012

Re: Time To App? Give me your 2¢...

Haha.    I promise better rates than a CD.    ...not that that's saying much     :smileywink:

Starting score:
EQ FICO 702 (1/1/2012)

Current scores:
TU FICO 785 (12/28/2013)
EQ FICO 791 (12/28/2013)
EX FICO 791 (12/28/2013)
TU-08 FICO 776 (12/10/2013)

Wallet: Chase Freedom $12,600 - Discover More $12,600 - Walmart $1,000 - Capital One MC $500
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011

Re: Time To App? Give me your 2¢...


Movin_on_up wrote:

Haha.    I promise better rates than a CD.    ...not that that's saying much     :smileywink:


lol talkin about money what would you do if you win the $550,000,000 tonight? I would screw around with people like buying my cousin a Bugatti Veyron cause she doesn't have a car just cause I know she can't afford the gas (contingoncy that she can't sell or rent out lol)


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
New Contributor
Movin_on_up
Posts: 52
Registered: ‎01-31-2012

Re: Time To App? Give me your 2¢...

That would just be mean.  That said, I'd be happy just looking at that thing every day.

 

I think I would travel, catch soccer matches and take pictures.   But.........I can't bring myself to buy tickets.  Way too practical and not a gambler.

Starting score:
EQ FICO 702 (1/1/2012)

Current scores:
TU FICO 785 (12/28/2013)
EQ FICO 791 (12/28/2013)
EX FICO 791 (12/28/2013)
TU-08 FICO 776 (12/10/2013)

Wallet: Chase Freedom $12,600 - Discover More $12,600 - Walmart $1,000 - Capital One MC $500
New Contributor
Movin_on_up
Posts: 52
Registered: ‎01-31-2012

Re: Time To App? Give me your 2¢...

Great news!   Discover More...Approval!!!

 

App'd online with their pre-approval code.   $4000 CL!!!

 

So happy.  :smileylol:  :smileyvery-happy:  :smileylol:

 

1 down and 8 more apps to go!

 

 

 

Kidding...

 

Starting score:
EQ FICO 702 (1/1/2012)

Current scores:
TU FICO 785 (12/28/2013)
EQ FICO 791 (12/28/2013)
EX FICO 791 (12/28/2013)
TU-08 FICO 776 (12/10/2013)

Wallet: Chase Freedom $12,600 - Discover More $12,600 - Walmart $1,000 - Capital One MC $500

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