Reply
Highlighted
Valued Contributor
Posts: 1,607
Registered: ‎09-15-2012
0

Re: Want to start applying...am I "ready"

+1 HiLine

Request credit limit increase, lower utilization and then wait for your credit reports to update (you can use a variety of free sites to monitor your report balances). You should be ready to app in less than 2 months, depending on when your statement cuts.

Ask questions if this doesn't make sense.

In My Wallet: Amex BCP (12/12) $32,000, Chase Freedom (12/12) $16,500, Citi Forward (12/12) $14,600, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Thank You Premier (6/15) $6,800

Last App: June 27, 2015
Member
Posts: 7
Registered: ‎06-11-2013
0

Re: Want to start applying...am I "ready"

Thank you guys.

 

Yeah it is totally util that is keeping my score down - I have no "baddies".  I didn't realize the importance of that trick until recently.  My util on the Cap One card is, as we speak, 5%.  So I'm going to keep it there or even maybe a little lower for a couple of months.  Hopefully I can get a CLI but I know Cap One can be a bit tough with that.

 

Is there anyway to figure out when your cut off for reporting for the month is?  Is it the same as the credit statement cycle?

 

SnackTrader & HiLine - this makes perfect sense.

 

And thanks for the guidelines everyone regarding what to app.

 

Nsisaat - that's good to know re Discover.

 

I'll be back to update......................


Starting Score: 520 (brand new credit 2011)
Current Score: 09/21/13 myfico TU 714; fako EX 718; EQ 712;
Goal Score: 750


Take the myFICO Fitness Challenge
Valued Contributor
Posts: 1,607
Registered: ‎09-15-2012
0

Re: Want to start applying...am I "ready"

My experience with Capital One has indeed been the balance is reported from the statement cycle. It usually takes 3-4 business days to update with the bureaus.

So my statement cycle ends on the 15th of every month. Whatever the balance is at the end of that day gets reported to the bureaus in my experience. Just make sure you make a payment to bring down Util on that after requesting a CLI (Hint: this thread already contains great advice on a high percentage way to get a CLI, which is also based on my experience), and you might be ready to app by the time your next statement cuts!

In My Wallet: Amex BCP (12/12) $32,000, Chase Freedom (12/12) $16,500, Citi Forward (12/12) $14,600, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Thank You Premier (6/15) $6,800

Last App: June 27, 2015
Member
Posts: 7
Registered: ‎06-11-2013
0

Re: Want to start applying...am I "ready"

Got it thanks!  Will keep you posted.


Starting Score: 520 (brand new credit 2011)
Current Score: 09/21/13 myfico TU 714; fako EX 718; EQ 712;
Goal Score: 750


Take the myFICO Fitness Challenge
Member
Posts: 7
Registered: ‎06-11-2013
0

Re: Want to start applying...am I "ready"

Small update.

 

Cap One denied me a CLI when I called the EO.  Boooooooo

 

 

I'm also going to have to wait until next month for my card to show a small balance.  My balance is currently 0%, however, I'm renting a car this weekend and although it's prepaid I'm going to my Cap One as the "hold" card.  So my balance will include the money that is held.  I think this puts me about about 66% usage.

 

Oh and my reporting date for Cap One is 23rd June and I'm hiring the car on the 21st.

 

*sigh*

 


Starting Score: 520 (brand new credit 2011)
Current Score: 09/21/13 myfico TU 714; fako EX 718; EQ 712;
Goal Score: 750


Take the myFICO Fitness Challenge
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.