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ladyMJ
Posts: 87
Registered: ‎11-10-2013
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My FIRST App Spree!! (Success--I think...Yippee!) *NEWBIE POST* Should I app for 1 more!?

[ Edited ]

Hello all!

 

I have been reading thousands (it seems) of posts for the past 2 days, trying to figure out what I need to do to 1) Build my credit score and 2) Get new credit so I can have some nice balances soon in the future (Ang get a mortgage by 2015). From all of my reading I discovered "app sprees" and "gardening." I looked into these subjects more and thought well, I never consciously did either, so maybe this will be a good place to begin my trek up the credit mountains (check the avi).

 

I am hoping to hear some advice and feedback regarding what I am about to share!!!! Please don't be shy. :smileyhappy:

 

To make a looonnggggg story short here are some facts:

1) I am a 26 yo marketing professional. Pretty decent income, less than 100K, more than 50.

2) According to CK (I know its a fako)

-My TU score is 598. (HAS to be wrong...you'll see why in a moment.)--UPDATE It was actually 651 at time of application. HUGE difference from FAKO

-I have 83 percent credit utilization (I know....)

-Average account age 4 years 7 months w oldest open account 8 years old (average actually dropped due to some student loan consolidating)

- total accounts- 31 (I have a LOT of student loans), 197K to be exact
 (I got my masters and went to law school for a semester to figure out I didn't want to be a lawyer)

-26K balance for 2 auto loans (1 lease, 1 purchase)

-Neiman Marcus Card- 500 limit

-Capital One secured card (2 years old) with 750 limit

- I have an old (1 yr 2 mo) collections account (misunderstanding with the Gas co when I moved.) that was paid in full the same month it reported.

- I have a very old Chase credit account that I got when I was 20 (originally opened at 2000 CL and was maxed out as a down payment for a VW). This card was closed a while ago on me (long story) but still reports. I began paying this off with the help of Take Charge America a couple years ago. Now I only owe a little less than 600 on it before it is PIF. I plan to pay this off ASAP.

- NO credit apps for a LONG time, I'd say, 2 years. (Besides when I was car shopping in 2011 and early 2012). My Experian report says NO inquiries past 12 months. CK says 17 HP inquiries reporting (already including 4 of my spree inquiries).

*According to mycreditinform.com (Experian) my fako is 632. I only pulled true FICO on myFICO for Equifax- and it is a 644.

 

Phew. :smileytongue: So now that all of that is out the way, let me tell you about my spree that began 11/09. I was inspired to apply for credit when I received a preapproval for the NFCU Flagship Mastercard. When I researched it I was like wow, it looks like a great card! I had also been receiving lots and lots of Citi card prescreened offers over the past 2 months. I figured perhaps I have a chance. (Even though monthly for the past year I get fako score updates that are way less than stellar!)

 

Here is how the order of my app spree went:

1) 11/09 (processed 11/10 ET) NFCU Flagship MC- Result= 24 hour notice. Have not done a recon yet or called them because of the holiday, I figure I will try to call them 11/11.

2)early 11/10 Amazon Store Card-  Approved 700 CL (tried recon w underwriter on CL- no success)

3) early 11/10 Walmart Store Card- Approved 700 CL (tried recon on CL- no success)

(at this point I got excited, but then I read AFTER that store cards don't help as much as bank ones so I got to itching.)

4) early 11/10 I applied for the Barclaycard Rewards Mastercard- Approved 500 CL (no recon attempt for CL yet.)

5) I then went about the day. But I think I became OBSESSED and kept wondering- 4 apps...is this a weak spree? Could I do better, etc.....SO I then (late 11/10) quickly pulled the trigger on the Discover IT student app. (I recently graduated from a program, want to see if I could still get it). Result- 3-7 day notice. No chance to call or recon yet because I applied right after business hours ended. I will be calling 11/11.

6) Final app- The Citi Diamond Preferred Card. I was nervous for this app because everywhere I read about this card it stated you needed "Excellent credit." But, I was very very itchy (:smileylol:) and I had a tiny bit of hope because the most recent Citi preapproval I received was for this card, just a couple of weeks ago. I found the letter under my bed, opened it, and applied! Result: APPROVED for 2K. Yay!

 

That is all of the info I have about my spree for now. I don't know what exact scores were pulled yet because I haven't received anything in the mail (or my email). My HP's were already reported (I got a CK notification) for 4 of my apps. I know I should be done, but I am really eyeing a Nordstrom card before I head to the garden!!!! (I want a wonderful AMEX sometime next year if possible!!!) Should I try for the Nordies now before I take all the bullets out the gun!??

 

Well, that is all for now. So fire away!

 

-MJ

 

 

 

 

 

 

NFCU NavCheck (LOC)-15,000/ NFCU Platinum MasterCard-$5000/ Citi Diamond Preferred MasterCard-$2000/ Neiman Marcus-$3500/ Capital One Secured-$750/ Victoria's Secret- $750/ Amazon Store Card-$700/ Walmart Store Card-$700/ Barclay Rewards- $500

2/11/14: TU Fico (BarclayCard)- 695
2/11/14: EQ (Quizzle)- 658
2/11/14: EX Fako (mycreditinform.com)- 695

Valued Contributor
Scupra
Posts: 1,385
Registered: ‎07-12-2012
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Re: My FIRST App Spree!! (Success--I think...Yippee!) *NEWBIE POST* Should I app for 1 more!?

[ Edited ]

Congrats on the approvals and good luck on the pending apps! I would turn around and run for the garden as fast as possible! Thats already 4 new accounts and one of them being Barclays who is inquiry/new account sensitive. Let those accounts age for 6 months to a year and then go after something you want. 

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
692 EQ FICO 09/2014
680 TU FICO 09/2014
671 EX FICO 09/2014
$14k NFCU Flagship Sig - $14k NFCU cashRewards Sig - $15k NavChek - $6k Barclay Arrival + - $5k Cap1 Quicksilver
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myjourney
Posts: 26,204
Registered: ‎02-07-2013
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Re: My FIRST App Spree!! (Success--I think...Yippee!) *NEWBIE POST* Should I app for 1 more!?

Congrats on your successful spree 

Good luck on the pending apps 

Now as mentioned in the post above Garden Garden Garden

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Contributor
ladyMJ
Posts: 87
Registered: ‎11-10-2013
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Re: My FIRST App Spree!! (Success--I think...Yippee!) *NEWBIE POST* Should I app for 1 more!?

Thanks guys!!!

 

Discover It was a no-go (I figured). They offered me a secured card because of my really old baddies. Navy Federal- Platinum card was approved for 5K at 12 percent APR! Not bad to start. I have 4 goodwill letters going out today so I am soon to be in the green again in about 6-12 months I hope. I realized I have some quick repairs I could have done prior to my apping, but I am pretty ok with a 5 outta 6 today! :smileyhappy:

 

To the garden!!!!!!!!!!!!

 

 

 

 

 

 

NFCU NavCheck (LOC)-15,000/ NFCU Platinum MasterCard-$5000/ Citi Diamond Preferred MasterCard-$2000/ Neiman Marcus-$3500/ Capital One Secured-$750/ Victoria's Secret- $750/ Amazon Store Card-$700/ Walmart Store Card-$700/ Barclay Rewards- $500

2/11/14: TU Fico (BarclayCard)- 695
2/11/14: EQ (Quizzle)- 658
2/11/14: EX Fako (mycreditinform.com)- 695

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Senior Contributor
myjourney
Posts: 26,204
Registered: ‎02-07-2013
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Re: My FIRST App Spree!! (Success--I think...Yippee!) *NEWBIE POST* Should I app for 1 more!?


ladyMJ wrote:

Thanks guys!!!

 

Discover It was a no-go (I figured). They offered me a secured card because of my really old baddies. Navy Federal- Platinum card was approved for 5K at 12 percent APR! Not bad to start. I have 4 goodwill letters going out today so I am soon to be in the green again in about 6-12 months I hope. I realized I have some quick repairs I could have done prior to my apping, but I am pretty ok with a 5 outta 6 today! :smileyhappy:

 

To the garden!!!!!!!!!!!!

 

 

 

 

 

 


Keep up the good work and see you in the garden

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Mega Contributor
coldnmn
Posts: 12,875
Registered: ‎08-08-2011
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Re: My FIRST App Spree!! (Success--I think...Yippee!) *NEWBIE POST* Should I app for 1 more!?


ladyMJ wrote:

Thanks guys!!!

 

Discover It was a no-go (I figured). They offered me a secured card because of my really old baddies. Navy Federal- Platinum card was approved for 5K at 12 percent APR! Not bad to start. I have 4 goodwill letters going out today so I am soon to be in the green again in about 6-12 months I hope. I realized I have some quick repairs I could have done prior to my apping, but I am pretty ok with a 5 outta 6 today! :smileyhappy:

 

To the garden!!!!!!!!!!!!

 

 

 

 

 

 


Wow you did great! See you in the garden!

My Wallet /US Bank Cash+ Signature $10,000/ Ace US Bank Signature $10,000 / Sam's Mastercard $8000
/ Walmart Mastercard $8000 / Discover IT $5000 / Care Credit $5000
/ Husqvarna $5000 / PayPal SmartConnect $4800 / Cap1 Quicksilver $4000 / Barclay Ring $3550
Last App 8/12/14 /

Valued Contributor
Scupra
Posts: 1,385
Registered: ‎07-12-2012
0

Re: My FIRST App Spree!! (Success--I think...Yippee!) *NEWBIE POST* Should I app for 1 more!?


ladyMJ wrote:

Thanks guys!!!

 

Discover It was a no-go (I figured). They offered me a secured card because of my really old baddies. Navy Federal- Platinum card was approved for 5K at 12 percent APR! Not bad to start. I have 4 goodwill letters going out today so I am soon to be in the green again in about 6-12 months I hope. I realized I have some quick repairs I could have done prior to my apping, but I am pretty ok with a 5 outta 6 today! :smileyhappy:

 

To the garden!!!!!!!!!!!!

 

 

 

 

 

 


I didn't even know Discover offered a secured card, any details on that? Thanks!

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
692 EQ FICO 09/2014
680 TU FICO 09/2014
671 EX FICO 09/2014
$14k NFCU Flagship Sig - $14k NFCU cashRewards Sig - $15k NavChek - $6k Barclay Arrival + - $5k Cap1 Quicksilver
Contributor
ladyMJ
Posts: 87
Registered: ‎11-10-2013
0

Re: My FIRST App Spree!! (Success--I think...Yippee!) *NEWBIE POST* Should I app for 1 more!?

Scupra, this is th email they sent me:


"We are pleased to offer you a no annual fee Discover Secured Credit Card.

To complete your application, please click on _________ by 11/13/2013."

 

I did a tiny bit of research and I couldn't find any info. So I clicked on the link to see what it would say and I got this message:

 

"Thank you for considering a Discover Card.

 

Unfortunately, we are unable to approve your application at this time. In 7-10 days you'll get a letter from us explaining why."

 

I did more research, and it looks like Discover does have a secured card, called Matrix.By the looks of it, doesn't sound too good. I think I will pass and just reapply when I have cleaned up my report.

 

http://ficoforums.myfico.com/t5/Credit-Cards/Matrix-Secured-Credit-Card-by-Discover/td-p/1421506

NFCU NavCheck (LOC)-15,000/ NFCU Platinum MasterCard-$5000/ Citi Diamond Preferred MasterCard-$2000/ Neiman Marcus-$3500/ Capital One Secured-$750/ Victoria's Secret- $750/ Amazon Store Card-$700/ Walmart Store Card-$700/ Barclay Rewards- $500

2/11/14: TU Fico (BarclayCard)- 695
2/11/14: EQ (Quizzle)- 658
2/11/14: EX Fako (mycreditinform.com)- 695

Valued Contributor
Scupra
Posts: 1,385
Registered: ‎07-12-2012
0

Re: My FIRST App Spree!! (Success--I think...Yippee!) *NEWBIE POST* Should I app for 1 more!?

[ Edited ]

ladyMJ wrote:

Scupra, this is th email they sent me:


"We are pleased to offer you a no annual fee Discover Secured Credit Card.

To complete your application, please click on _________ by 11/13/2013."

 

I did a tiny bit of research and I couldn't find any info. So I clicked on the link to see what it would say and I got this message:

 

"Thank you for considering a Discover Card.

 

Unfortunately, we are unable to approve your application at this time. In 7-10 days you'll get a letter from us explaining why."

 

I did more research, and it looks like Discover does have a secured card, called Matrix.By the looks of it, doesn't sound too good. I think I will pass and just reapply when I have cleaned up my report.

 

http://ficoforums.myfico.com/t5/Credit-Cards/Matrix-Secured-Credit-Card-by-Discover/td-p/1421506


How odd haha! Matrix is just on the Discover network, not actually a Discover product though. I was just curious :smileyhappy: Congratulations on the approvals! Discover is my goal card :/ Someday!!!

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
692 EQ FICO 09/2014
680 TU FICO 09/2014
671 EX FICO 09/2014
$14k NFCU Flagship Sig - $14k NFCU cashRewards Sig - $15k NavChek - $6k Barclay Arrival + - $5k Cap1 Quicksilver
Contributor
ladyMJ
Posts: 87
Registered: ‎11-10-2013
0

Re: My FIRST App Spree!! (Success--I think...Yippee!) *NEWBIE POST* Should I app for 1 more!?

Thanks!!

 

And I see! That is very odd!! I am going for it again next year! Maybe I can recon a month after the fact? I already fixed the errors (collections) and got them removed from my credit report so maybe they will consider me very soon! :smileyvery-happy:

 

 

NFCU NavCheck (LOC)-15,000/ NFCU Platinum MasterCard-$5000/ Citi Diamond Preferred MasterCard-$2000/ Neiman Marcus-$3500/ Capital One Secured-$750/ Victoria's Secret- $750/ Amazon Store Card-$700/ Walmart Store Card-$700/ Barclay Rewards- $500

2/11/14: TU Fico (BarclayCard)- 695
2/11/14: EQ (Quizzle)- 658
2/11/14: EX Fako (mycreditinform.com)- 695


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