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Building Credit Success Story! 580-680 6 months!

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Building Credit Success Story! 580-680 6 months!

Hey everyone! Just wanted to thank all of you so much for all of the help, advice, and knowledge from these forums (new account, lost old one) This is a success story of me reaching one out of two of my credit rebuilding goals within 5/6 months of my journey!

 

I started out last June with a 580 ish credit score. All I had was an installment loan on my car that my dad needed to co-sign on for me. This was paid 100% on time. I had zero credit cards/revolving accounts, a few 180 day lates on a student loan, and a few small collections. So I had no credit at all, and what I did have was mostly bad. I got on creditchecktotal to monitor my fico, resolved some of the old collections, and my student loan had been in good stanting for a couple years at the time anyways. 

 

I decided that goal #1 was to hit a 700 and goal #2 was to have a card from each of the big boys: Visa, AmEx, Discover, and MC. I had never applied for a credit card before and didn't know where to start, I knew 580 was a terrible score. Researched on here and decided to go for the cap 1 secured MC and Discover it secured. Applied for the cap 1, was approved, then the next day was approved for the Discover. Seriously couldn't believe it. The cards only had 200 SL each but I was so excited to get a start somewhere and begin building credit with these two companies.

 

Yesterday was about 6 months (5 statements later) on my cards and I was checking Credit Karma. I know it's not a real score but I like to check any score I can get against the Fico that creditchecktotal gives me. There was an offer for the Chase freedom unlimited and my odds were "good" even though the CK score is almost 70 points lower than my real score. I wasn't planning on applying for cards again for another month but I figured hell, I wanted the freedom forever so why not go for it? I went onto the Chase pre approval page and it pre qualified me for the slate, freedom, and sapphire preferred. I was planning on applying for the BCE first since I wanted it more, but I don't think Chase likes people who have tons of cards, seemed smarter to do them first then AmEx. I wanted the Freedom so I pulled the trigger. Got a 2.5k SL and instant approval! That was my first "real" unsecured card! Couldn't believe! Especially knowing that Chase is conservative compared to others. 

 

I had my eye on the Blue Cash Everyday from AmEx since I started my credit journey but was doubtful I would be approved at all. Getting the approval from Chase really gave me some confidence though and I figured I might as well do it now before the age of accounts lowers when the Chase reported. I got a pre approval for it on their tool but it wasn't offering me the welcome bonus so I cold apped the regular card on their website. I had to answer a few questions about income, probably because I put down self-employed for employment. I was then approved on the spot for 1k. Honesly almost cried, I never ever thought I would get in with them! We all know the stigma of AmEx only taking in the cream of the crop (even though that's obviously not true!)

 

My 25th birthday is tomorrow! This is the greatest gift ever. I was somebody who was afraid of credit cards last year at this time. If you told me I would have 4 cards I would've laughed in your face. I have these forums to thank for helping me! I haven't reached my goald of 700 yet but I did get a card from each brand! I can't access my creditchecktotal right now to let you know my actual scores but last month they were 670's/680's  and my discover/cap 1 ficos say 666 lol. I'm almost to my 7, and hopefully get it with the huge total credit increase once I recover from the apping. Thank you all so much!

 

P.S. if this helps anybody: I keep my util at 5% or below which was a feat on $400 of credit let me tell you. My util was 3% when I got these two cards. I also have 100% payments on all revolving credit and my car loan. I had low credit because I just didn't have credit and the student loan lates. My fiancee has also been re-building and repairing because I'm forcing him (and also enticing him with the welcome bonuses lol!) He was approved today for the freedom with a 3.5k SL with a 650 transunion. His debt to income was much better than mine even though my score was way higher. He's got one 500 limit MC, AU on my discover with $200, and his motorcycle loan. His parents royally screwed up his credit by using his social for unpaid medical visits, etc. His starting score last year was 520 ish.  Just want to encourage anybody reading this who might be in the same situation!

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