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Worst Time To Apply For Credit!

Valued Contributor

Worst Time To Apply For Credit!

I think this is the worst time to apply for a credit card right now. I was just looking at msnbc an they where getting reports back that people with high credit scores where denied for credit cards msnbc also stated  people with high credit limits don't be surprised if your credit limit is sliced in half evan with good scores an good payments history cause banks are just plan scared.

Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


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10 REPLIES
Established Contributor

Re: Worst Time To Apply For Credit!

Yes, now you high scoring people know what I feel like everytime I apply.  I wonder if Crap 1 will slice my $300 limit? 
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"Evacuate, in our moment of triumph? I think you overestimate their chances."
Valued Contributor

Re: Worst Time To Apply For Credit!



Pappy214 wrote:
Yes, now you high scoring people know what I feel like everytime I apply. 


lol thats not nice.

Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


Take the FICO Fitness Challenge
Established Contributor

Re: Worst Time To Apply For Credit!

Smiley Happy
____________________________________________________

"Evacuate, in our moment of triumph? I think you overestimate their chances."
Valued Contributor

Re: Worst Time To Apply For Credit!



Pappy214 wrote:
Smiley Happy



lol

Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


Take the FICO Fitness Challenge
Valued Member

Re: Worst Time To Apply For Credit!

Thats why I am gonna treat it like its GOLD for my 4 new accounts since BK.
Looking to get back into 700s club by scratch that about 2012 maybe even 2010 Smiley Happy faster than I had thought. aiming for $10,000 Credit Card by 2010 as well ! as of 9/15/08 EX 662 EQ 681 TU 662
Regular Contributor

Re: Worst Time To Apply For Credit!

I hope they don't cut my already lowish limits. Ah well.
Valued Member

Re: Worst Time To Apply For Credit!

trick is pay 2 to 4x the minimum payment amount depending on the company that issues you the credit account, PAY ON TIME!!   limit to 6 INQ or less each year.


Message Edited by SnowWalker on 09-29-2008 04:05 PM
Looking to get back into 700s club by scratch that about 2012 maybe even 2010 Smiley Happy faster than I had thought. aiming for $10,000 Credit Card by 2010 as well ! as of 9/15/08 EX 662 EQ 681 TU 662
Established Contributor

Re: Worst Time To Apply For Credit!

No wonder Hooters declined me and my recons, they must have seen this coming, a decline in their wing sales must be the precursor to a decline in the housing market and a decline in banking.
 
Oh magic Hooter ball what is the next thing to decline? Besides my next app!  Smiley Wink
____________________________________________________

"Evacuate, in our moment of triumph? I think you overestimate their chances."
Regular Contributor

Re: Worst Time To Apply For Credit!

I agree,  I was going to wait to apply for a BJ's Visa with Juniper for at least another 6 months until my derogs fell off but in light of the declining economy I decided to apply earlier today before the banks get super stingy.  I was approved for $800 which is a mere pittance of a credit line but at least its something I can work with!! I am done applying for at least a year.