topic Re: $3k spending limit approved! in Credit Card Approvals

$3k spending limit approved!

jayjayhawaii — Sat, 09 Jun 2018 20:26:35 GMT

June has been incredible! Last week Disco graduated me.

Today I was approved for $3k through my local credit union! Accounts are underwritten by Elan Financial and issued by US Bank. Only HP was TU, 655 with one medical collection, 9 inq and 31% UTI.

Rewards look mediocre at best, but 0% intro APR for 20 months is unheard of to someone who two years ago could barely get a 457% payday loan.

Either way, I've never been approved for anything above $500 so this is a huge milestone. Thanks forum!

I started this journey with a $200 secured card and some vulture cards.

This gets me to $6,200 SL on just FCU, Disco and Cap One

Re: $3k spending limit approved!

Anonymous — Sat, 09 Jun 2018 20:48:30 GMT

Congrats. Kudos to your build.

Also, 457% 😱😱😱?

Re: $3k spending limit approved!

AverageJoesCredit — Sat, 09 Jun 2018 20:49:44 GMT

Fantastic job. 20 months 0% apr is crediculous

Re: $3k spending limit approved!

Anonymous — Sat, 09 Jun 2018 21:34:05 GMT

Congratulations 🍾!!! Way to go.

Re: $3k spending limit approved!

Anonymous — Sat, 09 Jun 2018 22:26:22 GMT

Congrats! Great progress as well!

Re: $3k spending limit approved!

jayjayhawaii — Mon, 11 Jun 2018 10:09:44 GMT

@Anonymous wrote:
Congrats. Kudos to your build.

Also, 457% 😱😱😱?

Thanks!

Also, believe it. It's called extortion, loan sharking, predatory lending at best lol. Illegal in most states. Most are tribal lenders located next to casinos and thus operating outside of state laws.

Re: $3k spending limit approved!

joltdude — Mon, 11 Jun 2018 12:11:38 GMT

Now to take out the trash... and get rid of those vultures....

At least start pruning out those vile cards...

So what are the fees and APRs on those cards?

First Premier

Credit One

First Access

Milestone

The Build Card...

Really why did you grab so many?

Time to chop!

-J

Re: $3k spending limit approved!

jayjayhawaii — Mon, 11 Jun 2018 17:38:43 GMT

@joltdude wrote:
Now to take out the trash... and get rid of those vultures....
At least start pruning out those vile cards...

So what are the fees and APRs on those cards?
First Premier
Credit One
First Access
Milestone
The Build Card...
Really why did you grab so many?

Time to chop!

-J

Thanks! They're going in the shredder while I sit back and garden for the next 5 - 6 months.

APR anywhere from 23.99% - 29.99%. Annual fee is a lovely $75 for each.

But frankly, my credit was so far into the dumpster when I started this journey that the only line of credit I could hope to get in case of emergency was $500 from SpeedyCash $588 due on the next paycheck. And that's one of the cheap loansharking sites. I lived cash only for half a decade. My Disco and Cap One secured were both at $200 then. So having $1,700 in available credit and always PIF gave me so much felxibility in budgeting, it actually helped me increase my income. But they've served their purpose now and will be good riddance.

I now have $6,200 without them thanks in part to this forum.

Re: $3k spending limit approved!

Anonymous — Mon, 11 Jun 2018 21:10:08 GMT

Congrats on approval

Re: $3k spending limit approved!

Anonymous — Mon, 11 Jun 2018 21:51:35 GMT

@jayjayhawaii wrote:
@joltdude wrote:
Now to take out the trash... and get rid of those vultures....
At least start pruning out those vile cards...

So what are the fees and APRs on those cards?
First Premier
Credit One
First Access
Milestone
The Build Card...
Really why did you grab so many?

Time to chop!

-J

Thanks! They're going in the shredder while I sit back and garden for the next 5 - 6 months.
APR anywhere from 23.99% - 29.99%. Annual fee is a lovely $75 for each.

But frankly, my credit was so far into the dumpster when I started this journey that the only line of credit I could hope to get in case of emergency was $500 from SpeedyCash $588 due on the next paycheck. And that's one of the cheap loansharking sites. I lived cash only for half a decade. My Disco and Cap One secured were both at $200 then. So having $1,700 in available credit and always PIF gave me so much felxibility in budgeting, it actually helped me increase my income. But they've served their purpose now and will be good riddance.

I now have $6,200 without them thanks in part to this forum.

Yep, well done to improve the cards you have. +1000 to getting rid of the sub prime stuff, they're a smudge on your CR. Garden your Cap1 and Disco cards and get rid of that other junk. Show future prime lenders you know better now. They may not affect FICO score, but nothing screams "my credit sucked/I had major derogs" like sub prime cards to major lenders. Take your time with building and go for Quality over quantity from here on. Good luck!