topic Re: 0 - 800+ in 10 Months Cap1 Thanks in Credit Card Approvals

0 - 800+ in 10 Months Cap1 Thanks

Mustangfrank — Mon, 03 Dec 2012 22:46:35 GMT

Today I closed my CapitalOne Secured Credit card which started me off on my credit rebuilding journey.

People give Cap1 a hard time but I had a very good experience with them. The Customer Reps were always really nice and helpful.

I closed my Secured CapitalOne today and they said I would have my secured deposit back within ten days.

Ten months ago I had a Zero credit rating I now have 800+ Fico scores.

I did it by getting a secured Cap1 card, PIF every month and kept the reporting usage down below 10%

I would make multiple payments to keep the reporting balance low.

After eight months my scores rose to the low 700's

I then applied and was approved for (3) Amex cards.

Amex backdating kicked in from cards three decadeds ago and scores soared to 800+

I had a lot of help from this community and thank you all.

For all who may be just starting out rebuilding your credit ..........you can do it !

Read these boards and ask questions and you will be successful.

Re: 0 - 800+ in 10 Months Cap1 Thanks

creditnocash — Mon, 03 Dec 2012 22:54:22 GMT

the 30 years on backdating on each card didnt hurt.

if they didnt backdate youd be low 700 =)

but congrats on your journey.

my credit birthday is only on 10/10 so hopefully by 2040 ill have a few amex cards as well.

Re: 0 - 800+ in 10 Months Cap1 Thanks

Mustangfrank — Mon, 03 Dec 2012 23:01:21 GMT

Yes the backdating helped to reach 800 + scores but before I had even applied or the Amex cards I got my scores up to

760 on just the single CapitalOne Platinum card.

and that only took eight months.

Now I was starting with a clean slate.

If you have Negatives on your record you have to clean them up first.

I had a disputed unpaid Medical bill removed from my credit records.

Once I did that I was able to start the process.

Re: 0 - 800+ in 10 Months Cap1 Thanks

creditnocash — Mon, 03 Dec 2012 23:16:12 GMT

yeah i agree.

i have no baddies

just my first card was opened 10/10 second 12/10 then 1/12 so yeah.

im sure as soon as all my inq fall off 8/14 my score will be in the high 700's with an aaoa of about 3+ years. 9 accounts and hopefully no baddies..

Re: 0 - 800+ in 10 Months Cap1 Thanks

Anonymous — Mon, 03 Dec 2012 23:22:31 GMT

I haven't even been alive 30 years let alone have 30 years of history haha. Very impressive man, good for you!

Re: 0 - 800+ in 10 Months Cap1 Thanks

Shogun — Mon, 03 Dec 2012 23:27:15 GMT

Nice job!

Re: 0 - 800+ in 10 Months Cap1 Thanks

Mustangfrank — Tue, 04 Dec 2012 00:01:11 GMT

@creditnocash wrote:
yeah i agree.
i have no baddies
just my first card was opened 10/10 second 12/10 then 1/12 so yeah.

im sure as soon as all my inq fall off 8/14 my score will be in the high 700's with an aaoa of about 3+ years. 9 accounts and hopefully no baddies..

It doesn't hurt to explain your circumstances to lenders.

They have guidelines and policies to follow but they also have some leeway.

After I had been issued my Amex cards Discover was not going to approve my application.

Even with 800+ scores.

I spoke withe the Discover customer rep and the woman was great.

We had a casual conversation and she asked a few questions and after 15 minutes she approved me for a Discover card.

Although it was a low CL she told me in 6 months if all went well I would get a significant raise in my credit limit.

The customer reps are just regular folk give them a call and have a conversation with them.

It can't hurt and you never know.

Re: 0 - 800+ in 10 Months Cap1 Thanks

Mustangfrank — Tue, 04 Dec 2012 00:05:41 GMT

@Anonymous wrote:
I haven't even been alive 30 years let alone have 30 years of history haha. Very impressive man, good for you!

Yup,

I am old.

So is my car

1966. LOL

Re: 0 - 800+ in 10 Months Cap1 Thanks

Anonymous — Tue, 04 Dec 2012 00:11:09 GMT

I'm on my 5th statement with Capital One and I always PIF too. Hopefully I'm close to the 700+ club, once I'm able to get a Fico Score.

Re: 0 - 800+ in 10 Months Cap1 Thanks

Mustangfrank — Tue, 04 Dec 2012 00:18:04 GMT

@Anonymous wrote:
I'm on my 5th statement with Capital One and I always PIF too. Hopefully I'm close to the 700+ club, once I'm able to get a Fico Score.

After six Months you should have scores from all three Credit Agencies. CapitalOne is good about reporting to all three and relatively quickly.

In fact you will start getting scores before six months.

Re: 0 - 800+ in 10 Months Cap1 Thanks

Anonymous — Tue, 04 Dec 2012 00:31:15 GMT

So far....

CreditKarma - 712 l Vantage: 694

CreditSesame - 656

Quizzle.com - 667

Credit.com - 633 l Fico estimate: 632 l Vantage estimate: 650

Fakos, but at least it gave me ideas along those long 5 months of rebuilding. lol

Re: 0 - 800+ in 10 Months Cap1 Thanks

Mustangfrank — Tue, 04 Dec 2012 00:35:20 GMT

@Anonymous wrote:
So far....

CreditKarma - 712 l Vantage: 694
CreditSesame - 656
Quizzle.com - 667
Credit.com - 633 l Fico estimate: 632 l Vantage estimate: 650

Fakos, but at least it gave me ideas along those long 5 months of rebuilding. lol

Strange thing about Fakos most people think that they are usually higher than real FICO scores but I have found that is not always the case.

It can be just the opposite.

Re: 0 - 800+ in 10 Months Cap1 Thanks

Anonymous — Tue, 04 Dec 2012 00:40:04 GMT

Yeah. I read about people with CK scores in the 600's, but their Fico is 700+. YMMV

Re: 0 - 800+ in 10 Months Cap1 Thanks

Mustangfrank — Tue, 04 Dec 2012 00:47:11 GMT

@Anonymous wrote:
Yeah. I read about people with CK scores in the 600's, but their Fico is 700+. YMMV

Right now my Credit Karma score is showing 766 but Discover approved my card based on a real Fico of 801.