Reply
Valued Contributor
rootpooty
Posts: 1,739
Registered: ‎10-28-2011
0

Re: WHAT SHOULD I DO???

navy federal doesnt do recons. if the computer does the 3-5 day message wait it auto. get sent for manual review. i dont know about the bk status though being its so recent. if it were me i would apply for the secured card, wait 6 mos then apply for an unsecured card. I did this when i had horrible credit and even though with some mishaps reporting they still gave me a decent limit. They might even give you an unsecured line now so ymmv. also in some instances when you join you may get a pre approved offer which is pretty much a guarantee with them.

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Valued Member
miltolam
Posts: 42
Registered: ‎07-29-2012
0

Re: WHAT SHOULD I DO???


rootpooty wrote:

navy federal doesnt do recons. if the computer does the 3-5 day message wait it auto. get sent for manual review. i dont know about the bk status though being its so recent. if it were me i would apply for the secured card, wait 6 mos then apply for an unsecured card. I did this when i had horrible credit and even though with some mishaps reporting they still gave me a decent limit. They might even give you an unsecured line now so ymmv. also in some instances when you join you may get a pre approved offer which is pretty much a guarantee with them.


After much consideration, I'm just going to hold off. I had to ask myself, even if I'm approved, I gain nothing from doing this right now...at least not at this juncture. In fact, my score could drop. True, I would build trust or whatever by paying my statement on time but isnt that what I'm already doing with the other two cc and student loans I have now? It's not like they don't see it on my CR. Anyway, I'm going to wait until my scores are at least over 675. My EQ is already near 660. I'm also waiting to see if a couple 90 and 120 days late marks from 2010 and 2011 with my student loans will be removed from my CR. I wrote my lender a courtesy letter giving them the sob story. I got a good feeling that they will bulge. Let's see what happens...

Starting Score (August 2011 post chapt7): Mid 500's for all three
Current Score (August 2012): EQ: 660 TU 662 EX 656
Goal Score (Spring 2013): 700+ for all three
Wallet: CapOne Platinum Rebuilder: $750CL/ Orchard Bank: $420/ NFCU nRewards $2k

Take the FICO Fitness Challenge
Valued Contributor
rootpooty
Posts: 1,739
Registered: ‎10-28-2011
0

Re: WHAT SHOULD I DO???

no trust me you would want to start building with nfcu now. you will thank me for it later. of course its your decision. i would at least wait until you get a response from the gw on the lates

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Valued Member
miltolam
Posts: 42
Registered: ‎07-29-2012
0

Re: WHAT SHOULD I DO???


rootpooty wrote:

no trust me you would want to start building with nfcu now. you will thank me for it later. of course its your decision. i would at least wait until you get a response from the gw on the lates


Thank you @rootypooty, I'm going to do just that. On both student loans, they are reported 90 days late twice in 2010 and 120 days in 2007 so altogether that's a total of 6 negative marks. I wonder how much my scores will jump if those marks are removed, considering that Nelnet will budge after receiving my GW letter. I heard NFCU pulls EQ CR. If my EQ hits 680 or better, I'm going to definitely apply for a NFCU cc with the quickness. Right now I'm at 660.

 


Starting Score (August 2011 post chapt7): Mid 500's for all three
Current Score (August 2012): EQ: 660 TU 662 EX 656
Goal Score (Spring 2013): 700+ for all three
Wallet: CapOne Platinum Rebuilder: $750CL/ Orchard Bank: $420/ NFCU nRewards $2k

Take the FICO Fitness Challenge
Established Contributor
jamie123
Posts: 782
Registered: ‎03-22-2012
0

Re: WHAT SHOULD I DO???

The sooner you get another card the better, but I understand your decision.

 

If you plan on getting the auto loan at the end of the year it is almost too late for you to apply for a new credit card. Lenders like to see time between credit requests. Three months at a minimum but six months is best.

 

Good luck!



Starting Score: EQ 658 6/18/12
Current Score: EQ 683 8/24/14 - EX 687 7/21/14 - TU 682 7/21/14
Goal Score: EQ 720+
Take the FICO Fitness Challenge
Established Member
polarbeardad
Posts: 26
Registered: ‎07-16-2012
0

Re: WHAT SHOULD I DO???

There is a thread on here, believe its over in student loans that Nelnet and other student loan lenders are not goodwill friendly, especially when the account was in truth paid late. Your posts says your utilization is 25% which I understand you only have two cards with small limits but that is a high percentage, under ten is the best. You should check out a tread by SoulMaster , how to get a 700 fica in under 24 moths its got some good advice on cleaning up baddies and how o build good scores quickly. I tried some of his suggestions and was approved for 4 out of 5 accounts I applied for in my little spree 18 months post bankruptcy. YMMV but its worth a look. Best of luck, keep us posted. 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+