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Senior Contributor
Posts: 7,059
Registered: ‎04-11-2016
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Re: Your total credit lines


donny10 wrote:

That's right Brutal starting from nothing. 27 months ago I had nothing.

I had completely dirty files. Cleaned them up perfectly and dove in. Last year I closed 70k in lines I just didn't want or need.


Hi Donny.  So, just to clarify here, you DID have credit history prior to 27 months ago?  I ask that because while you say you had "nothing" if you did have credit history prior, even if they were dirty accounts (that you cleaned up, nice job!) they were still adding to your file thickness, AoOA and AAoA.  These are important factors IMO since they are involved both in scorecard assignment and because greater history almost always makes it easier to obtain new credit, additional credit, etc. when all other factors are equal.

 

I guess my general argument here is simply that if you take someone with no credit history and then take someone with some credit history and all other things (like income) are equal, the person with no credit history over the same period of time in question (say, 27 months) would likely end with lower total credit limits than the person with some established history.  To me, it's like the person with some credit history in this example would have a "head start" in the race over the person with no credit history.

Senior Contributor
Posts: 4,265
Registered: ‎11-11-2015

Re: Your total credit lines

[ Edited ]

InBrutalBodyShots wrote:

donny10 wrote:

That's right Brutal starting from nothing. 27 months ago I had nothing.

I had completely dirty files. Cleaned them up perfectly and dove in. Last year I closed 70k in lines I just didn't want or need.


Hi Donny.  So, just to clarify here, you DID have credit history prior to 27 months ago?  I ask that because while you say you had "nothing" if you did have credit history prior, even if they were dirty accounts (that you cleaned up, nice job!) they were still adding to your file thickness, AoOA and AAoA.  These are important factors IMO since they are involved both in scorecard assignment and because greater history almost always makes it easier to obtain new credit, additional credit, etc. when all other factors are equal.

 

I guess my general argument here is simply that if you take someone with no credit history and then take someone with some credit history and all other things (like income) are equal, the person with no credit history over the same period of time in question (say, 27 months) would likely end with lower total credit limits than the person with some established history.  To me, it's like the person with some credit history in this example would have a "head start" in the race over the person with no credit history.


BBS let me clarify- every single dirty account I had 100% success at having each and everyone of them deleted. (Multiple baddies, lates, chargeoffs, repo's, collections and I mean multiple items including three judgements) 3 months full time, 8 -10 hours a day 5 days a week solely fixing my credit. All by myself with only the help from studying these forums and implementing my own style. God's honest truth. I Even booked a flight to a different state and showed up at a collection agencies door step begging for deletion. Yes, it worked, they GW deleted. Don't anyone ask who it was, cuz I won't tell..lol!!! True story. So the only two things on my files was the mortgage, which is only present on TU & EX, but not EQ. And Fingerhut that is still on on 3.

 

So this is what I had once everything dirty was paid & deleted. 1 Chase mortgage account, paid. Fingerhut paid as agreed closed in 2013. My oldest account is 11.5 years.

 

I did apply and was approved for Chase Freedom for $4500 and Cap1 Platinum for $300 in July 2015 when I still had a few baddies.

 

Once the remaining baddies were gone I had a total of 4 positive accounts on 2 bureaus and 3 positive accounts on 3. 

 

And I had success and was very lucky at building my files.

 

AMEX BCP $9000- DCU Platinum $10000- PenFed Power $11000- Chase FU $11700- AMEX EDP $15000- NFCU CLOC $15000- Chase CSP $18900- Discover IT Miles $20000- Penfed Promise $25000- NFCU Go Rewards $27100- Venture $27750 **As of 10/17/17** EX- 760(13) TU- 759(12) EQ- 730(14) UTI 5%- Clean Files
Regular Contributor
Posts: 211
Registered: ‎05-16-2015

Re: Your total credit lines

2 years ago I had a score of around 600 due to very high utilization from getting divorced and having to make a big move. I had a total credit of around $10,000 back then. I paid everything off and got totally serious about my credit and 2 years later I am at around 120k available credit which I plan to start culling cards and lower that amount as I personally am not comfortable with having that much credit. It is way more than I will ever need in my life time and while it sounds good on paper the damage it can cause is not worth the risk for me.

Senior Contributor
Posts: 7,059
Registered: ‎04-11-2016

Re: Your total credit lines


donny10 wrote:

InBrutalBodyShots wrote:

donny10 wrote:

That's right Brutal starting from nothing. 27 months ago I had nothing.

I had completely dirty files. Cleaned them up perfectly and dove in. Last year I closed 70k in lines I just didn't want or need.


Hi Donny.  So, just to clarify here, you DID have credit history prior to 27 months ago?  I ask that because while you say you had "nothing" if you did have credit history prior, even if they were dirty accounts (that you cleaned up, nice job!) they were still adding to your file thickness, AoOA and AAoA.  These are important factors IMO since they are involved both in scorecard assignment and because greater history almost always makes it easier to obtain new credit, additional credit, etc. when all other factors are equal.

 

I guess my general argument here is simply that if you take someone with no credit history and then take someone with some credit history and all other things (like income) are equal, the person with no credit history over the same period of time in question (say, 27 months) would likely end with lower total credit limits than the person with some established history.  To me, it's like the person with some credit history in this example would have a "head start" in the race over the person with no credit history.


BBS let me clarify- every single dirty account I had 100% success at having each and everyone of them deleted. (Multiple baddies, lates, chargeoffs, repo's, collections and I mean multiple items including three judgements) 3 months full time, 8 -10 hours a day 5 days a week solely fixing my credit. All by myself with only the help from studying these forums and implementing my own style. God's honest truth. I Even booked a flight to a different state and showed up at a collection agencies door step begging for deletion. Yes, it worked, they GW deleted. Don't anyone ask who it was, cuz I won't tell..lol!!! True story. So the only two things on my files was the mortgage, which is only present on TU & EX, but not EQ. And Fingerhut that is still on on 3.

 

So this is what I had once everything dirty was paid & deleted. 1 Chase mortgage account, paid. Fingerhut paid as agreed closed in 2013. My oldest account is 11.5 years.

 

I did apply and was approved for Chase Freedom for $4500 and Cap1 Platinum for $300 in July 2015 when I still had a few baddies.

 

Once the remaining baddies were gone I had a total of 4 positive accounts on 2 bureaus and 3 positive accounts on 3. 

 

And I had success and was very lucky at building my files.

 


Nice work getting all of that negative stuff cleaned up!  Thanks for clarifying regarding your profile.

 

I'd say that your AoOA and AAoA probably helped a bit in your ability to grow your credit limits over those 27 months.  I think it would be unlikely that someone with no credit history would be able to accomplish the same feat.  Same thing goes for my profile.  No way could I have gone from $3000 in limits to over 6 figures in 15 months if I didn't have a base at least under me first. 

New Contributor
Posts: 66
Registered: ‎08-31-2017
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Re: Your total credit lines

[ Edited ]

Have a total of $13,700 lol Have about 9.5yrs of credit history but my average age of open accounts is 4.5yrs. My oldest open account is almost 8yrs old but I opened the Amazon Prime Visa Signature about 8mths ago and recently opened the Paypal Cashback Mastercard that drags it down.

 

Did not know about asking for CLI from my issuers before and did not know that most were soft pulls until now lol Pretty much waited for any auto-CLI from them which never really came lol I work in retail so not much money there guess that's why no auto-cli :/ I always pay on time and pay in full. Also have no loans. My credit score sits somewhere in the 750s with all 3 bureaus though, which is kinda good I guess lol

Senior Contributor
Posts: 7,059
Registered: ‎04-11-2016
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Re: Your total credit lines


kamina wrote:
Also have no loans. My credit score sits somewhere in the 750s with all 3 bureaus though, which is kinda good I guess lol

If you employ the SSL technique, you'll be in the 780's-790's, which may be something for you to consider.

New Contributor
Posts: 66
Registered: ‎08-31-2017
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Re: Your total credit lines


BrutalBodyShots wrote:

kamina wrote:
Also have no loans. My credit score sits somewhere in the 750s with all 3 bureaus though, which is kinda good I guess lol

If you employ the SSL technique, you'll be in the 780's-790's, which may be something for you to consider.


What's the SSL technique?

Moderator
Posts: 17,529
Registered: ‎12-30-2011

Re: Your total credit lines


kamina wrote:

BrutalBodyShots wrote:

kamina wrote:
Also have no loans. My credit score sits somewhere in the 750s with all 3 bureaus though, which is kinda good I guess lol

If you employ the SSL technique, you'll be in the 780's-790's, which may be something for you to consider.


What's the SSL technique?


Method:
http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secu...

183k and change since I started back in late 2011; never really focused on limits at all, started getting 20k+ credit limit extensions in 2014 with Chase being the first with the CSP at 22k, since then most approvals have been in the 20-25k range which built my limits quickly.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Valued Contributor
Posts: 1,076
Registered: ‎02-23-2017

Re: Your total credit lines

September 2016: $10,500 (3 cards)

April 2017: $60,000 (8 cards)

May 2017: $45,700 (6 cards)

August 2017: $50,700 (6 cards)

Contributor
Posts: 94
Registered: ‎04-22-2017

Re: Your total credit lines



Gardening till: Oct 1st 2019!
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