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finally got scores! what should I do?

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rootpooty
Valued Contributor

finally got scores! what should I do?

Finally got to 6 months history so I pulled my scores Im pretty shocked what do you think? 683 transunion and 668 equifax. One collection reporting on each due to fall off 5/2013. 6 inquiries on transunion and 7 on equifax. This started from a journey having 6 collections on transunion and 5 on equifax so I think im doing good. I have 3 secured cards first premier 200, bofa secured 300, and nfcu secured 500.  I would really like another card and yes im going to cancel first premier soon. What should I do? Any recomendations?

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Message 1 of 12
11 REPLIES 11
Anonymous
Not applicable

Re: finally got scores! what should I do?

Honestly, I would wait for the collection to stop reporting and apply directly for a quality non-secured card, something you can plan on using for the next decade at least.

 

Getting a Cap1 or something in that range probably won't do you any favors, as your three new accounts are probably pulling your AAoA way down... I'd seriously garden for a year. Close whichever of these you want the least, highest AF probably. Then garden, no need for a new card right now.

 

Just my humble opinion.

Message 2 of 12
Jake0215
Frequent Contributor

Re: finally got scores! what should I do?

Wait the year for the collection to fall off and the accounts to age. You have enough cards where it wouldn't hurt to just axe first premier now. You will be in a much better position one year from now. If you NEED one more, Walmart or Barclay may be ok but Barclay may not like the amount of inquires. I say just wait.

@rootpooty wrote:

Finally got to 6 months history so I pulled my scores Im pretty shocked what do you think? 683 transunion and 668 equifax. One collection reporting on each due to fall off 5/2013. 6 inquiries on transunion and 7 on equifax. I have 3 secured cards first premier 200, bofa secured 300, and nfcu secured 500.  I would really like another card and yes im going to cancel first premier soon. What should I do? Any recomendations?



Starting Score: 617 EQ 10-17-11
Current Score: EQ 767 TU 769 EX 749 (all FICO but who really knows?)
Goal Score: 800


Take the FICO Fitness Challenge
Message 3 of 12
rootpooty
Valued Contributor

Re: finally got scores! what should I do?


@Jake0215 wrote:
Wait the year for the collection to fall off and the accounts to age. You have enough cards where it wouldn't hurt to just axe first premier now. You will be in a much better position one year from now. If you NEED one more, Walmart or Barclay may be ok but Barclay may not like the amount of inquires. I say just wait.

@rootpooty wrote:

Finally got to 6 months history so I pulled my scores Im pretty shocked what do you think? 683 transunion and 668 equifax. One collection reporting on each due to fall off 5/2013. 6 inquiries on transunion and 7 on equifax. I have 3 secured cards first premier 200, bofa secured 300, and nfcu secured 500.  I would really like another card and yes im going to cancel first premier soon. What should I do? Any recomendations?



yeah i would like to get a walmart being i do most of my shopping there and was planning on getting an ipad so barclays was a thought too. you think the 6 inquiries is a bit on the high side on an app with barclays? if I added another card now i would def cancel first premier

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Message 4 of 12
rootpooty
Valued Contributor

Re: finally got scores! what should I do?

do i have any chance at getting a walmart card or citi forward or barclays apple? i dont plan on apping with capital one

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Message 5 of 12
mikka1
Frequent Contributor

Re: finally got scores! what should I do?

I am not sure my example is relevant to your situation at all, but I applied for cards of all those 3 banks with very limited credit history and scores that were below TU660, I beleive (or not calculated at all due to the lenght of credit history). Nonetheless the result was the following:

 

November 2011 - Barclay's Apple (applied online) - Automated decline

November 2011 - Children's Place Citibank (applied in-store) - Manual processing, received decline letter in 2-3 weeks, haven't followed up on this 

Early January 2012 - Walmart (applied in-store) - Approved for $300 store card

 

I am not sure my conclusion is 100% right, but it seems that Walmart (GE) has softer selection criteria than Barclay's and Citi, thought Citi has previously sent me a 'pre-selected' offer for Simplicity that went directly to shredder after my Children's Place denial...

 

Good luck! 

In my wallet now: Amex PRG NPSL, Amex BCE $15k $17k (thanks to recent CLI), Chase Freedom 11k, CSP $6k, Chase United ME $5k, Citi Dividend $5.6k, Discover It $4.5k and a handful of other cards...
TU Dec 2013 - 752Sep 2013 - 764 - new all time maximum

Obsolete data aboveCurrent TU - probably around ~810, only using a few Chase & BofA cards now, not applying for much until we buy a house
Message 6 of 12
boomhower
Valued Contributor

Re: finally got scores! what should I do?


@rootpooty wrote:

do i have any chance at getting a walmart card or citi forward or barclays apple? i dont plan on apping with capital one



@rootpooty wrote:

do i have any chance at getting a walmart card or citi forward or barclays apple? i dont plan on apping with capital one


Walmart should be fine, Barclay's iffy due to INQ's.  Citi I would skip for now.  They like really clean reports and are extremely apprehensive about INQ's.

Message 7 of 12
rootpooty
Valued Contributor

Re: finally got scores! what should I do?


@mikka1 wrote:

I am not sure my example is relevant to your situation at all, but I applied for cards of all those 3 banks with very limited credit history and scores that were below TU660, I beleive (or not calculated at all due to the lenght of credit history). Nonetheless the result was the following:

 

November 2011 - Barclay's Apple (applied online) - Automated decline

November 2011 - Children's Place Citibank (applied in-store) - Manual processing, received decline letter in 2-3 weeks, haven't followed up on this 

Early January 2012 - Walmart (applied in-store) - Approved for $300 store card

 

I am not sure my conclusion is 100% right, but it seems that Walmart (GE) has softer selection criteria than Barclay's and Citi, thought Citi has previously sent me a 'pre-selected' offer for Simplicity that went directly to shredder after my Children's Place denial...

 

Good luck! 

 


 

how much credit history did you have when you applied with barclays? did you try to do a recon? im thinking about giving walmart a try

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Message 8 of 12
Scope27
Regular Contributor

Re: finally got scores! what should I do?

Walmart pulls TU and at the time I app'd for their card I was around a 662 TU score with one collection and 3 old chargeoffs reporting.

Message 9 of 12
rootpooty
Valued Contributor

Re: finally got scores! what should I do?


@Scope27 wrote:

Walmart pulls TU and at the time I app'd for their card I was around a 662 TU score with one collection and 3 old chargeoffs reporting.



yeah im at 683 with 6 mos history one collection due to fall off in one year. 6 inquiries

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Message 10 of 12
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