Sorry I am just getting back....been sick.
so, thanks for responding Sylvia. Three of my TL's are student loans (one of which is almost paid off-less that $300 left). The other two equal about $8000.00. These are reporting with no lates, excellent payment history. I also have one cc, Mastercard 9% APR, 9% util $300 cl, opened March 2007. No lates, excellent payment history! Should I ask for a limit increase or should I wait for the anniversary of the card? Should I expect an increase in FICO's when the anniversary comes? If so, how much is common? Most of the other TL's are store cc's, few medical bills, one repo all charge offs/collections. I am going to PFD the more recent ones, but most will fall off within the next year. Hope this helps! This brings me to my initial question...should I start to reply to preapproval offers, or wait for the baddies to fall off?
so, thanks for responding Sylvia. Three of my TL's are student loans (one of which is almost paid off-less that $300 left). The other two equal about $8000.00. These are reporting with no lates, excellent payment history. I also have one cc, Mastercard 9% APR, 9% util $300 cl, opened March 2007. No lates, excellent payment history! Should I ask for a limit increase or should I wait for the anniversary of the card? Should I expect an increase in FICO's when the anniversary comes? If so, how much is common? Most of the other TL's are store cc's, few medical bills, one repo all charge offs/collections. I am going to PFD the more recent ones, but most will fall off within the next year. Hope this helps! This brings me to my initial question...should I start to reply to preapproval offers, or wait for the baddies to fall off? Haven't had any responses in a while...was hoping for some advice. Well, anyway...I applied to three cc's yesterday. Approved for two, turned down for one! My advice, only apply for the ones you know you will get. Some interesting things should happen to my FICO's this month!
My advice, only apply for the ones you know you will get. Some interesting things should happen to my FICO's this month!
You never know which you will definitely get though.
Hooters or Kays is pretty easy but others may not be.
Sometimes credit limit increases are a crapshoot too.
If you don't plan to use your credit for a major purchase you CAN start applying anywhere and everywhere but you will probably take an immediate hit, though as they age things get better.
But inquiries stay for what seems like forever.
So every upside seems to have a downside when it comes to credit, at least that's my opinion.
Great credit line - inquiry
Denial - inquiry
Credit app spree - INQUIRIES
I did a mini spree in September, felt great but the inquiries are killing me. Though some were not authorized and some were for limit increases which should have been soft inquiries. Equifax is the only one who responds to inquiry issues so I'll be paying for it for a while but I did get like $15000 in new credit and a new car.
There are different ways to go about mortgages too but again inquiries can hurt because they lower your score.
I probably didn't even answer the question
Hooters or Kays is pretty easy but others may not be.
Sometimes credit limit increases are a crapshoot too.
If you don't plan to use your credit for a major purchase you CAN start applying anywhere and everywhere but you will probably take an immediate hit, though as they age things get better.
But inquiries stay for what seems like forever.
So every upside seems to have a downside when it comes to credit, at least that's my opinion.
Great credit line - inquiry
Denial - inquiry
Credit app spree - INQUIRIES
I did a mini spree in September, felt great but the inquiries are killing me. Though some were not authorized and some were for limit increases which should have been soft inquiries. Equifax is the only one who responds to inquiry issues so I'll be paying for it for a while but I did get like $15000 in new credit and a new car.
There are different ways to go about mortgages too but again inquiries can hurt because they lower your score.
I probably didn't even answer the question
LH wrote:Thank you for your reply...I guess I just got excited with the pre approval offers. I will ease off of the cc's. I think I am done for now. I want to see how FICO's will react to this recent activity. Pretty good APR's and no AF's! Cl's low $500.00, but it's a start.
We have to start somewhere. Keep the util low and have patience
The second is the hard part