i am so mad right now! 10% min payment with nordstrom?

[johnpalley]

lol, wolf, put it like this, i got unpaid charge offs with bofa,chase,amex,discover,and cap one, so i cant get a card with most of the big banks. im thinkin usaa, barclays, and citi

would everyone here agree that i could apply for the usaa card in 6 months? if so then my plan is still in place

[jforsyth]

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@johnpalley wrote:

jfors, thats the thing, i messed up bad. i just applied for a bunch of cards at the same time and got 5 inquiries. before that i had none. realistically how long do i have to wait now to apply for the usaa card?

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The inquiries won't be regarded in your FICO scoring after a year, but they'll remain on your reports for 2 years.

Five inquiries is a fairly moderate amount. It's not low, but it's not all too high either. I would go ahead and check your reports. Even if you applied at 5 different places, each individual creditor might have only hit a single bureau on their pull. Thus, you might have less than 5 inquiries on the bureau that USAA is known to pull first (which is Equifax).

I'd wait at least 6 months. Preferably 9 months to a year (for aging purposes along with the inquiries falling off. Inquiries don't hurt as much as you might think, but aging can really help).

[johnpalley]

thanks jfor, all the inq were on equifax. tell you the truth i was more afraid of a new 6 month old account hurting me then i was about the inq but in your opinion i wont get turned down for a new account?

[MarineVietVet]

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@johnpalley wrote:

lol, wolf, put it like this, i got unpaid charge offs with bofa,chase,amex,discover,and cap one, so i cant get a card with most of the big banks. im thinkin usaa, barclays, and citi

would everyone here agree that i could apply for the usaa card in 6 months? if so then my plan is still in place

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I would wait a year. Patience is a very important part of credit management.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
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[johnpalley]

marin, are you sayin wait a year mostly because of the new account or the inquiries?

[MarineVietVet]

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@johnpalley wrote:

marin, are you sayin wait a year mostly because of the new account or the inquiries?

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Both. Let everything settle out. IMO in a year lenders will be much less likely to be nervous if they see you haven't applied for any new credit in awhile.

But that's just what I would do. Only you can decide what is best for you.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[johnpalley]

i hear you marin, thanks.  damn you noooooooooordstrommmmmmmmm!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[bostonte]

>"put it like this, i got unpaid charge offs with bofa,chase,amex,discover,and cap one"

How old are those charge offs? I'm surprised at a Nordstrom approval -- what limit and rate did they give you? If they are relaxing their standards, people here might be interested to know.

Considering your situation, I would definitely keep it. Supposedly they are good about upgrading to Visa with 6 months or so of positive store card history.  If nothing else, just don't use it and let the available credit help your utilization.

[johnpalley]

i dont know what the interest rate is but i got all my charge offs deleted from my eq report so they never saw them.i did still have an unpaid $1500 judgement from 06 that they did see. on the other reports all charge offs will fall off next year cause thats 7 years. they gave me a $2000 limit with a 675 score. 

[wmarat]

I am sorry for asking dumb question, but what's wrong with 10% min payment?