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Member
newbee2012
Posts: 17
Registered: ‎01-20-2013

RE-BUILDING - SCORE IMPROVEMENT -- NEED HELP PLZ

I had too many negatives on my reports for years-- finally I am clean as of last year!!! They have been removed from my report. 

 

Currently in wallaet: Bank of America Secured: $500 (9/12)

Nordstrom Store Card: $1000 (1/13)

Barclay NFL Visa: 500 (1/13)

Citi Hilton Reseve Siganature: $5000 (authoruized user) - 2005

Student Loans (deferred until 2014): 65K

 

Should I apply for another card?

 

I pay my blances in full before the statetment clsosing date.  My credit reports show zero revolving debt.

 

Current scores: FAKO Equifax:645, Experian 706, TransU: 733

 

My scores have not been going up. What would you recommend?  Should I show some limit on my cards by partially paying them?

 

Also what are my changes of getting Amex Green?  I have 11 inquires on Ex and TU, 5 on Eq.  I was denided for Blue recently.

 

Thank you!!!!

 

Regular Contributor
Kevin5974
Posts: 117
Registered: ‎05-16-2007

Re: RE-BUILDING - SCORE IMPROVEMENT -- NEED HELP PLZ

Barclays will cancel you if they see additional accounts open. I would let those inquiries age and garden about 6-9 months. Hopefully some credit line increases and then maybe hit up Amex

Starting Score: 475
Current Score: 494
Goal Score: 650


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Valued Contributor
madmann26
Posts: 1,402
Registered: ‎08-30-2012

Re: RE-BUILDING - SCORE IMPROVEMENT -- NEED HELP PLZ

Maximum score gains are seen when you let one card report with no more then 9% of your total available revolving credit. What does the util look like on the AU BoFA card?

 

 


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 705|EQ 690|EXP 698 (FICO)
What's in my wallet? Cap1 PLAT AU $1.25k; Cap1 Cash AU $2k; NFCU Siggy $23k; $4k WalMart DC; CFNA Firestone $2.2k; Amazon $1.5k; NFCU Cash Rewards $22K; AMEX BCE $6k; NavCheck $15k; Lowe's $10k; Citi DP $6.3k; AMEX ED $8.5k
Goal Score: 700 across the board.
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Member
newbee2012
Posts: 17
Registered: ‎01-20-2013

Re: RE-BUILDING - SCORE IMPROVEMENT -- NEED HELP PLZ

All my cards show zero balance. I pay them off every month.

 

So should I just show lik $20 balance on one card only?  Thanks.

 

I asked Nordstrom about a CLI - they said that I can ask every 6 months and soft pully only.  I've placed secuirty freeze on my reports.  Would that prevent Nordstrom doing a soft pull?  

Member
newbee2012
Posts: 17
Registered: ‎01-20-2013

Re: RE-BUILDING - SCORE IMPROVEMENT -- NEED HELP PLZ

Really? So If I every get another credit card like AMEX will they cancel my Barclay card?

Valued Contributor
madmann26
Posts: 1,402
Registered: ‎08-30-2012

Re: RE-BUILDING - SCORE IMPROVEMENT -- NEED HELP PLZ


newbee2012 wrote:

Really? So If I every get another credit card like AMEX will they cancel my Barclay card?


Not necessarily. Barclay is very sensitive to people seeking new credit. I've read reports of people's Barclay card getting closed because they went on an app spree.


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 705|EQ 690|EXP 698 (FICO)
What's in my wallet? Cap1 PLAT AU $1.25k; Cap1 Cash AU $2k; NFCU Siggy $23k; $4k WalMart DC; CFNA Firestone $2.2k; Amazon $1.5k; NFCU Cash Rewards $22K; AMEX BCE $6k; NavCheck $15k; Lowe's $10k; Citi DP $6.3k; AMEX ED $8.5k
Goal Score: 700 across the board.
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Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012

Re: RE-BUILDING - SCORE IMPROVEMENT -- NEED HELP PLZ

I would garden the 3 cards you have for at least 6 months to a year before applying for new credit. Some credit card lenders are very sensitive to INQS and will deny you based solely on that as they predict you are risky. I think the 11 INQS you have are the most should carry.

Does the card you are an AU on report a zero balance too?
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Member
newbee2012
Posts: 17
Registered: ‎01-20-2013

Re: RE-BUILDING - SCORE IMPROVEMENT -- NEED HELP PLZ

Thanks for the info.  I reapply appriciate it.  The AU card has a 5000 credit limit but it has a balance of 4500.  It will be paid off by end of February.  Does that affect my score?  When that's paid off will my score increase?  Thanks.

Valued Contributor
madmann26
Posts: 1,402
Registered: ‎08-30-2012

Re: RE-BUILDING - SCORE IMPROVEMENT -- NEED HELP PLZ


newbee2012 wrote:

Thanks for the info.  I reapply appriciate it.  The AU card has a 5000 credit limit but it has a balance of 4500.  It will be paid off by end of February.  Does that affect my score?  When that's paid off will my score increase?  Thanks.


This is most definitely affecting your score as it is 90% utilized. Either the AU needs to pay it down significantly or you need to remove yourself as an AU. Protect your credit, no one else will.


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 705|EQ 690|EXP 698 (FICO)
What's in my wallet? Cap1 PLAT AU $1.25k; Cap1 Cash AU $2k; NFCU Siggy $23k; $4k WalMart DC; CFNA Firestone $2.2k; Amazon $1.5k; NFCU Cash Rewards $22K; AMEX BCE $6k; NavCheck $15k; Lowe's $10k; Citi DP $6.3k; AMEX ED $8.5k
Goal Score: 700 across the board.
Take the FICO Fitness Challenge
My Journey
Member
newbee2012
Posts: 17
Registered: ‎01-20-2013

Re: RE-BUILDING - SCORE IMPROVEMENT -- NEED HELP PLZ

I didn't know that.  It will be paid off soon.  That card always carries 0 balance.  When it's paid off, will that increase my score?  I didn't know the main account holder's limit could affect my score.  I just hold that card for emergencies since it has a good limit.  The account holder has 3 other cards with available limit over 40K.  Should he add me to his Amex with a 5K limit?  I didn't want another card that's not really mine but would that increase my score?


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