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Established Contributor
Posts: 710
Registered: ‎06-01-2012
0

when should I spree?

So, my score will be seeing a dramatic increase as soon as the payments I made yesterday reflect and are reported.

 

My question is, with all of your knowledge around CCs, when should I go on my app spree? Myfico sim says my score will be 666-706 (TU) and 636-666 (EQ) <-- Also have a judgment being deleted from EQ that has already been removed from EX and TU, thats why its so much lower than the others.

 

My file looks like this:

 

Discover card CO: 2005 paid

Key Bank SL CO: 2005 paid

2 mohela student loans:2005 No lates past 2 years, 7 before that on both loans making 14 total (these were defermentsI didnt know would count as lates)

Charter One CC: 01/2012 never late $30 balance

PNC secured: 06/12 $0 balance never late.

 

NO CAs

No Judgments (as of 8/30 when it falls of EQ)

 

How much should these cards age? I want to start building a thick file and get the ball rolling now that I've brought my score up.

 

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Valued Contributor
Posts: 2,982
Registered: ‎02-09-2012
0

Re: when should I spree?

1 year and even then, I'm not sure you will be ready for a traditional "app spree"

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
Valued Contributor
Posts: 1,275
Registered: ‎09-22-2009
0

Re: when should I spree?


Repo-ed wrote:

1 year and even then, I'm not sure you will be ready for a traditional "app spree"


Agreed.  Having any types of baddies and scores under 700 will only limit decent CL's with decent APR's.  Wait until your scores are above 720, and when that happens, do not blindly apply for anything that will approve you.  Be strategic.  Be selective.  It's the only way to building a good credit history and getting what you want out of credit.  

EQ FICO - EQ08 - 850 - 01/01/15
TU FICO - TU08 - 850 - 01/01/15
EX FICO - EX08 - 850 - 01/01/15
EX FICO - V2 - 840 - 01/01/15
EQ FICO - EQ04 - 818 - 01/01/15
EQ FICO - Bankcard Enhanced 8 - 885 - 1/24/15
Established Contributor
Posts: 710
Registered: ‎06-01-2012
0

Re: when should I spree?


android01 wrote:

Repo-ed wrote:

1 year and even then, I'm not sure you will be ready for a traditional "app spree"


Agreed.  Having any types of baddies and scores under 700 will only limit decent CL's with decent APR's.  Wait until your scores are above 720, and when that happens, do not blindly apply for anything that will approve you.  Be strategic.  Be selective.  It's the only way to building a good credit history and getting what you want out of credit.  


sounds good. I'll wait till the negatives are gone. Thanks guys!

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Established Contributor
Posts: 710
Registered: ‎06-01-2012
0

Re: when should I spree?

Should I even bother with a jewelers card? I wanted one to A. help finance my gfs ring (I dont need it to buy the ring though) and B. have for special occassions i.e. anniversary, birthdays, etc.

 

If I apply and say Im only approved for $500, can I reject it so it doesnt add another account to my credit file. If its 1k or more id gladly take it, but I dont know if I should even bother with a jewelry store card now?

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
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