When did you request a cli? How was the process?
How much was your limit and what became your new limit.
6 month cc wait rule still apply here or should you apply as soon as your scores improve? My income went from 1400 to 2400 to 3200 monthly after taxes.
Scored went up from 645 to what they are now.
Is it a soft pull?
How much was your limit and what became your new limit.
6 month cc wait rule still apply here or should you apply as soon as your scores improve? My income went from 1400 to 2400 to 3200 monthly after taxes.
Scored went up from 645 to what they are now.
Is it a soft pull?
Starting Score: 501 EX FAKO
Got the card in July, $9K limit. Apped 4 months later for their combo LOC and a $3K CLI. Approved for $12K Combo. All CLIs are HPs.
Thanks ls. So I have to wait till the house closes anyway. 
loc?
loc?
What does that stand for?
LOC stands for Line of Credit.
It is like a credit card, but you have to write a check to access the funds. No swiping 
FICO 9: 
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Oh. I didn't apply for one. Is it a good idea to do? Are the interest rates good? Could the funds be used on anything? What are the terms? Loan length and monthly payments?
The funds can be used on anything. The payment is usually 2% of the balance. Its not a loan, so there is no term. Its a revolving open account.
It works like a credit card in that once its paid off, then the credit is available again.
You don't owe anything on it until you actually use it. Unlike a Credit Card, you dont have a to show usage on it, it can sit there with no usage and you don't have to worry about it getting closed or decreased for no activity.
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
That sounds awesome. Is it difficult to get a cli if im requesting the loc?
Or is the combo a better route?
@pineappledaydreams wrote:
Or is the combo a better route?
The Combo is definitely the better route. You can get a CLI and the Combo LOC on 1 HP.
Also one of the SWEET things about the Combo is it reports as two different TL's on your CR.
For example: I have a 12K Combo Visa/LOC. I can use both products but both share a 12K limit. The way it reports though the Visa is 12K and the LOC is 12K. So essentially you have 24K in total util when it is actually 12K.
