Falling Score based on reporting by creditor

[brendogg27]

Good morning!

I've noticed a drop in my Trans Union score, and either no change or an increase in other.  I currently have a credit card with Orchard Bank @ 300 CL.  It appears that since I have been using it, they've been reporting at a time when I have a high balance and it's making my score lower on Trans Union and made no change to my Equifax. 

Currently I am

Experian 655

Equifax 634

Trans Union 609

If I was to apply for a new credit card, and take a hit for the inquiry which would make my available credit higher, or call Orchard Bank and request a CLI.  Which would be a better move? 

At this time I currently have no debts, but there are some collection items I'm disputing, and working at getting some of my delinquent payments removed. 

I've really become dilegent about checking my credit, and really want to get it at a respectable level. 

Assistance is much appreciated!

Thanks,

B-

[jackg]

brendogg27,

First of all, if you want to solve your utilization problem with Orchard you can do it by going on line and paying in full before they report to the CRA's. Take note however that as far as I know Orchard is the only CCC that reports to CRA's AFTER the statement closes. So PIF on line on the statement closing date.

Next, should you apply for a new CC or request a CLI from Orchard? I just got off the phone with an Orchard CSR, we discussed a CLI and she said that this request MAY require a "hard pull". The key word is MAY. If that happened thae it doesn't matter which road you go down.

My advice would be to request a CLI from Orchard and if they don't pull a hard then perhaps you could use that freebie to apply for a new CC. Whadya think?

[brendogg27]

Thanks for the feedback!

I called Orchard and since I've only been a card member since July, she said that I didn't qualify for a CLI, but she said that my payment history was outstanding because I run it up and pay it off every month.  She was able to give me a $200 CLI based on the above, and told me that they would review my account again in the months to come and  I could possibly qualify for an additional increase based on my payment history.  I didn't realize this but my Orchard Bank Mastercard has a 9.9% APR.

I went to the mailbox today and received a Pre-Selected notice from Capital One for a Platinum Mastercard.  It says 0% APR until July (not a big deal because I PIF) but 19.8% afterwards. 

I also received 2 offers from WAMU.  I had a Providian account about 10 years ago and think they might hold that against me.  The interest rate is 14.99%.  I

I guess I'll do more research on these cards based on my scores.  I definately don't want anything that pulls from TransUnion.  Experian is and has always been my highest score.

[Anonymous]

HSBC normally reports the last weekday of the month-

[haulingthescoreup]

Congrats brendogg, isn't it fun getting mail? Sounds like you're doing the right thing. Stack them up and keep doing your research. Don't worry about the respond-by dates. I promise you, if they want you now, they'll still want you in the future, and they might improve their offers over time.

Be picky, picky, picky, and let them beg you for your business! Congrats on the CLI.

[brendogg27]

I went and did my weekly mail pickup this afternoon (I only pick my mail up 1 time a week because i hate my complex mailboxes).  I have been receiving several Capital One and WAMU offers.  After doing some more reading on the forum I decided to apply for them.  I was approved by Capital One for a Platinum Mastercard, and WAMU approved me for a Platinum Visa card.  I was unable to get the CL for Capital One, but the WAMU Visa gave me $1000.  I have a 0% fixed APR for WAMU until Aug 2008, and 0% until July from Capital One.  The Interest rate for WAMU is 14.99 and Capital One is 19.8%.  Hopefully I will be able to negotiate a lower rate on the Capital One.  I don't plan on carrying a balance, but you never know!

[brendogg27]

I was just approved for an American Express Gold Delta Skymiles.  This is the 3rd card I've been approved for.  I am not satisfied!  I've always wanted an American Express in my wallet aside from my Corporate American Express.  They gave me a 1000 limit.

[haulingthescoreup]

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@brendogg27 wrote:

I was just approved for an American Express Gold Delta Skymiles. This is the 3rd card I've been approved for. I am not satisfied! I've always wanted an American Express in my wallet aside from my Corporate American Express. They gave me a 1000 limit.

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Not satisfied, or now satisfied? Please go hunt down cheddar's posts about the Sky Miles. This is actually a pretty good card to start with! Also Timothy has had it, and he worked it for his advantage with AmEx.

This is a **darn** good card. Check it out before you dump it.

sigh, edited for a naughty word

Message Edited by haulingthescoreup on 01-20-2008 08:14 PM

[brendogg27]

I did mean "now" satisfied.  I think all the new credit has gone to my head!