topic Re: First apps for personal credit cards ever. 3/4 Success! in Credit Card Approvals

First apps for personal credit cards ever. 3/4 Success!

axleman27 — Wed, 02 Apr 2014 19:10:32 GMT

Hello everyone,

Been lurking here for a few months.

Back story... I lost my business back in 2006 and defaulted on several business LOCs and credit cards. Of these my business AMEX reported to personal CR. I paid AMEX back in full over the next year or so. I started a new business in 2007 which has done moderately well and I kept everything on a "pay as you go" basis using debit cards and totally ignored my credit otherwise. Last spring, I decided to check my credit and my scores were in the high 500s. Been working on it over the last year and got them up into the mid to high 600s. My payment history is pretty good (2 30 day lates on a car loan about a year ago) and all derogs had aged off or been otherwise removed, but my scores have remained flat. I have a long and good history with mortgages and car loans, but had never had a personal credit card in my life (i'm in my 40s). So after reading here about how the FICO game works (and I do believe its a game), I decided it was time to add some to my credit mix.

I had my mother add me as AU to 2 old Chase cards with perfect history (each has about a 13k CL). My reports inherited the full histories back to the early 2000s.

So, this past weekend I decided to try my first app spree.

I started with the Sportsman's Guide shopping cart trick. Approved for $3,000

I decided to try AMEX next before the INQs started hitting my credit report. I apped for the PRG charge with the intent of trying for a revolver if it went through. Denied! (not sure the reason yet)

Next, I went to Chase and apped for the Freedom. Approved! $1500 @ 22.9 APR... was hoping for better, but I'll take it.

The biggest surprise was from Discover. Approved! $6500 @ 15.9 APR. I was hoping for about 4k, but expecting about 1500, so this was a win for sure.

My plan is to garden these so I can hopefully get back in with AMEX and maybe get a Chase CSP and Ink of some sort.

Re: First apps for personal credit cards ever. 3/4 Success!

yudeology101 — Wed, 02 Apr 2014 19:15:46 GMT

Woohoo~WTG Congrats on a successful app spree!! Nice starting limit w/ Discover, enjoy your new cards

Oh yea, WELCOME TO THE FORUM!!!

::edited for typo::

Re: First apps for personal credit cards ever. 3/4 Success!

MissMoni223 — Wed, 02 Apr 2014 19:32:28 GMT

CONGRATS on such a good APP Spree and WELCOME to the forum! I'm fairly NEW here as well! I have my eyes on the Chase Freedom too, but that's after I come out of the garden.

Re: First apps for personal credit cards ever. 3/4 Success!

yudeology101 — Wed, 02 Apr 2014 19:35:21 GMT

@MissMoni223 wrote:
CONGRATS on such a good APP Spree and WELCOME to the forum! I'm fairly NEW here as well! I have my eyes on the Chase Freedom too, but that's after I come out of the garden.

When are you planning on jumping the fence? Let me know so i can alert the crew members lol

Re: First apps for personal credit cards ever. 3/4 Success!

MsLadyRover — Wed, 02 Apr 2014 19:47:23 GMT

Congrats on your spree success!

Re: First apps for personal credit cards ever. 3/4 Success!

gdale6 — Wed, 02 Apr 2014 19:54:56 GMT

Nice first run, enjoy

You are correct that its a game, there are some who will disagree with this assessment.

Re: First apps for personal credit cards ever. 3/4 Success!

bossladymom — Wed, 02 Apr 2014 20:31:35 GMT

Congrats on those cards and decent limits!

Re: First apps for personal credit cards ever. 3/4 Success!

axleman27 — Wed, 02 Apr 2014 20:47:44 GMT

Thanks,

I was pretty disappointed by AMEX. I was really hoping to get back in with them so I could get a 2002 backdate. Oh well, Discover made up for it

Re: First apps for personal credit cards ever. 3/4 Success!

coldnmn — Wed, 02 Apr 2014 20:57:36 GMT

Congrats! Welcome to the forum and thanks for sharing.

Re: First apps for personal credit cards ever. 3/4 Success!

BigBS — Wed, 02 Apr 2014 21:04:17 GMT

Congrats on the success! What were your scores?

Re: First apps for personal credit cards ever. 3/4 Success!

-Wade- — Wed, 02 Apr 2014 21:10:40 GMT

@axleman27 wrote:
Hello everyone,

Been lurking here for a few months.

Back story... I lost my business back in 2006 and defaulted on several business LOCs and credit cards. Of these my business AMEX reported to personal CR. I paid AMEX back in full over the next year or so. I started a new business in 2007 which has done moderately well and I kept everything on a "pay as you go" basis using debit cards and totally ignored my credit otherwise. Last spring, I decided to check my credit and my scores were in the high 500s. Been working on it over the last year and got them up into the mid to high 600s. My payment history is pretty good (2 30 day lates on a car loan about a year ago) and all derogs had aged off or been otherwise removed, but my scores have remained flat. I have a long and good history with mortgages and car loans, but had never had a personal credit card in my life (i'm in my 40s). So after reading here about how the FICO game works (and I do believe its a game), I decided it was time to add some to my credit mix.

I had my mother add me as AU to 2 old Chase cards with perfect history (each has about a 13k CL). My reports inherited the full histories back to the early 2000s.

So, this past weekend I decided to try my first app spree.

I started with the Sportsman's Guide shopping cart trick. Approved for $3,000

I decided to try AMEX next before the INQs started hitting my credit report. I apped for the PRG charge with the intent of trying for a revolver if it went through. Denied! (not sure the reason yet)

@Anonymous, I went to Chase and apped for the Freedom. Approved! $1500 @ 22.9 APR... was hoping for better, but I'll take it.

@Anonymous biggest surprise was from Discover. Approved! $6500 @ 15.9 APR. I was hoping for about 4k, but expecting about 1500, so this was a win for sure.

My plan is to garden these so I can hopefully get back in with AMEX and maybe get a Chase CSP and Ink of some sort.

Congrats on your success

Re: First apps for personal credit cards ever. 3/4 Success!

axleman27 — Wed, 02 Apr 2014 21:36:27 GMT

@BigBS wrote:
Congrats on the success! What were your scores?

According to myFICO:

EX: 662

EQ: 669

TU: 695

However, last month when I apped to refi my house, my scores from the mortgage company (who used CREDCO) were:

EX: 751 (!!)

EQ: 668 (this still had a medical collection on it, which came off in dispute)

TU: 729

Big differences in some of the scores, but nothing really changed on the report except for 1 derog dropping from EQ.

FWIW, AMEX pulled EX, Chase pulled TU and EX, Discover pulled EQ and EX. Guess I need to let EX cool for a while!

Re: First apps for personal credit cards ever. 3/4 Success!

alvon123 — Thu, 03 Apr 2014 11:29:41 GMT

congrats