topic Finally approved for something! in Credit Card Approvals

Finally approved for something!

Anonymous — Thu, 15 Aug 2013 18:39:50 GMT

I've been rebuilding my credit for about a year now and I've managed to go from low 500's to 620 current EQ SW score.

I have one 500$ line of credit from my bank in excellent standing never late my util is around 20% so little high but I'm still trying to figure out how to report a balance and still pay in full thing. (Tips please?)

I applied for three cards
A student card from regions (waiting on letter)
Barclays master card (waiting on letter)
Victoria's Secret (approved 250$) FINALLY someone tossed me a bone!

I have two baddies due to fall off in 2015 that are really hurting my score
Charge off from cap1 and the company that bought that debt.

What's my next step? Any way I could maybe i could recon with these other two?

Thank you all so much for your help I have learned so much just from stalking these board already!

Re: Finally approved for something!

Anonymous — Thu, 15 Aug 2013 18:43:02 GMT

congrats on your VS

Re: Finally approved for something!

09Lexie — Thu, 15 Aug 2013 18:45:37 GMT

Welcome to the forum! Congratulations on your first approval. Without knowing the reasons for the denial it will be difficult to give suggestions. Post back when you receive the letters and don't be a lurker.

Re: Finally approved for something!

Anonymous — Thu, 15 Aug 2013 18:47:38 GMT

Thanks! I'm sure my wife will be excited about it. I'm just happy for the approval!

Re: Finally approved for something!

ianl33t — Thu, 15 Aug 2013 19:46:51 GMT

@Anonymous wrote:
I've been rebuilding my credit for about a year now and I've managed to go from low 500's to 620 current EQ SW score.

I have one 500$ line of credit from my bank in excellent standing never late my util is around 20% so little high but I'm still trying to figure out how to report a balance and still pay in full thing. (Tips please?)

I applied for three cards
A student card from regions (waiting on letter)
Barclays master card (waiting on letter)
Victoria's Secret (approved 250$) FINALLY someone tossed me a bone!

I have two baddies due to fall off in 2015 that are really hurting my score
Charge off from cap1 and the company that bought that debt.

What's my next step? Any way I could maybe i could recon with these other two?

Thank you all so much for your help I have learned so much just from stalking these board already!

I found the easiest way for me to get the utilization reported at low amounts is to find out when your account reports to the CRAs. (Call or use on-line chat if available, I used on-line chat for my cards) and then your due date (this may change at one point, keep an eye on it!). Then what I do for example on my Capital One card ($300) is I use it for gas which is about $35-$36 and then I pay off some of that usually bringing it to the $20-$30 range and then leaving it like that a couple days before Capital One reports the balance to the CRAs (Mine reports on the 4th) for example. Then I pay in full a couple days before the due date (my due date presently is the 1st) as to not have any tie-ups or issues with payment processing. I know I started with the reporting date first in my post, but it still works the same. I PIF before the 1st, use the card the 2nd/3rd (pay down balance to lower level same day), let it sit and report for the 4th, and then I pay it all in full again or wait till nearer the 1st.

I hope that makes it a little easier for you to manage the reporting of the balance/PIF routine.

P.S. Congrats by the way!

Re: Finally approved for something!

MsLadyRover — Thu, 15 Aug 2013 19:08:39 GMT

Congrats on your VS approval. Fingers crossed for the other 2 approvals.

Re: Finally approved for something!

Anonymous — Thu, 15 Aug 2013 19:24:43 GMT

This is very helpful.. It makes sense now!
Thank you!

Lexie will do my best not to be a lurker I'm a little shy but I plan to apply for a mortgage in a year and a half if I can get my numbers where I want them to be!
I'm sure I will be posting more

Thanks mrsladyrover!

Re: Finally approved for something!

myjourney — Thu, 15 Aug 2013 19:31:28 GMT

Gstew

Congrats

We were all lurkers at one point

I lurked for about 3-5 months before coming in.

So jump right on in we're very friendly and wish to help