topic Re: Sallie Mae Platinum approval in Credit Card Approvals

Sallie Mae Platinum approval

Revelate — Wed, 07 May 2014 17:38:12 GMT

So went and picked up a few tradelines before putting my credit report to sleep for who knows how long:

$4400 Sallie Mae Approval

Income: Listed it as 35K self-employed - in my feng shui existence now
FICO: 685ish on TU '08
Tax Liens: 2 released tax liens: Cali 12/10, IRS 11/13 (hasn't come off yet but wanted the inquiry done and over with)
Collections: 2 paid collections: 12/10 $196, 4/11 $95 (nuisance collection in FICO '08)
Lates: 30/60 from 8/10 on a BOFA credit card
Inquiries: 0 scoreable on TU at application time, 2 within 2 years, last one 1/13
Recent accounts: 1 opened in 4/14 (Fidelity Amex ninja reported to all bureaus for me), prior to that 1/13 was the last app spree
AAOA: just over 2 years, 13 total tradelines, mix of installment / revolving

Also picked up two more secured installment loans (one from Alliant CU, one from USAA) for FICO scoring purposes 5 years from now, done for a long while again as obtained what rewards I can for my credit strata, and finally got a credit card which doesn't pull EX for every little thing .

Re: Sallie Mae Platinum approval

mongstradamus — Wed, 07 May 2014 17:38:52 GMT

@Revelate wrote:
So went and picked up a few tradelines before putting my credit report to sleep for who knows how long:

$4400 Sallie Mae Approval

Income: Listed it as 35K self-employed - in my feng shui existence now
FICO: 685ish on TU '08
Tax Liens: 2 released tax liens: Cali 12/10, IRS 11/13 (hasn't come off yet but wanted the inquiry done and over with)
Collections: 2 paid collections: 12/10 $196, 4/11 $95 (nuisance collection in FICO '08)
Lates: 30/60 from 8/10 on a BOFA credit card
Inquiries: 0 scoreable on TU at application time, 2 within 2 years, last one 1/13
Recent accounts: 1 opened in 4/14 (Fidelity Amex ninja reported to all bureaus for me), prior to that 1/13 was the last app spree
AAOA: just over 2 years, 13 total tradelines, mix of installment / revolving
Also picked up two more secured installment loans (one from Alliant CU, one from USAA) for FICO scoring purposes 5 years from now, done for a long while again as obtained what rewards I can for my credit strata, and finally got a credit card which doesn't pull EX for every little thing .

gratz on picking up those tradelines

Re: Sallie Mae Platinum approval

-NewGuy- — Wed, 07 May 2014 17:44:38 GMT

@Revelate wrote:
So went and picked up a few tradelines before putting my credit report to sleep for who knows how long:

$4400 Sallie Mae Approval

Income: Listed it as 35K self-employed - in my feng shui existence now
FICO: 685ish on TU '08
Tax Liens: 2 released tax liens: Cali 12/10, IRS 11/13 (hasn't come off yet but wanted the inquiry done and over with)
Collections: 2 paid collections: 12/10 $196, 4/11 $95 (nuisance collection in FICO '08)
Lates: 30/60 from 8/10 on a BOFA credit card
Inquiries: 0 scoreable on TU at application time, 2 within 2 years, last one 1/13
Recent accounts: 1 opened in 4/14 (Fidelity Amex ninja reported to all bureaus for me), prior to that 1/13 was the last app spree
AAOA: just over 2 years, 13 total tradelines, mix of installment / revolving
Also picked up two more secured installment loans (one from Alliant CU, one from USAA) for FICO scoring purposes 5 years from now, done for a long while again as obtained what rewards I can for my credit strata, and finally got a credit card which doesn't pull EX for every little thing .

Go Rev! Congrats on the new stuff. I have also noticed the apparent EX fetish.

Re: Sallie Mae Platinum approval

dodgerslv — Wed, 07 May 2014 17:46:53 GMT

congrats on the approvals Rev!!!

Re: Sallie Mae Platinum approval

B335is — Wed, 07 May 2014 18:39:44 GMT

Congrats!! Terrific card and limit!

Re: Sallie Mae Platinum approval

Revelate — Wed, 07 May 2014 18:49:16 GMT

@B335is wrote:
Congrats!! Terrific card and limit!

Yeah, only really needed like 1K on the card: gas and Amazon are the use cases for me unless I buy a truly absurd amount of groceries in the future overruning my BCP limits; more likely it's using the BCP for gas after overruning the Sallie Mae, so I can't really see needing more even if I were at my old W2 salary. Also is admittedly nice having ANYTHING to land on my Transunion report - all my CU's pull EQ or EX, and the majority of my national banks pull EX and USAA on EQ. It was getting lonely haha; is something of an odd limit though, $4400? Not certain if that tied directly to what I put down as income or that it's nearly half of my BCP limit (9K).

It's funny, 2ish years ago on this forum after seeing all the Barclays horror stories I flat out refused to get an account with them, but we'll see what they do with this one. Is a good card for a lot of people including yours truly for covering a lot of my newly expected lifestyle.

Re: Sallie Mae Platinum approval

BigBS — Wed, 07 May 2014 18:50:24 GMT

Congrats!

Re: Sallie Mae Platinum approval

gdale6 — Wed, 07 May 2014 19:04:31 GMT

Grats on the SM and all the others you have recently obtained

Re: Sallie Mae Platinum approval

CreditMagic7 — Wed, 07 May 2014 19:17:06 GMT

@Revelate wrote:
So went and picked up a few tradelines before putting my credit report to sleep for who knows how long:

$4400 Sallie Mae Approval

Income: Listed it as 35K self-employed - in my feng shui existence now
FICO: 685ish on TU '08
Tax Liens: 2 released tax liens: Cali 12/10, IRS 11/13 (hasn't come off yet but wanted the inquiry done and over with)
Collections: 2 paid collections: 12/10 $196, 4/11 $95 (nuisance collection in FICO '08)
Lates: 30/60 from 8/10 on a BOFA credit card
Inquiries: 0 scoreable on TU at application time, 2 within 2 years, last one 1/13
Recent accounts: 1 opened in 4/14 (Fidelity Amex ninja reported to all bureaus for me), prior to that 1/13 was the last app spree
AAOA: just over 2 years, 13 total tradelines, mix of installment / revolving
Also picked up two more secured installment loans (one from Alliant CU, one from USAA) for FICO scoring purposes 5 years from now, done for a long while again as obtained what rewards I can for my credit strata, and finally got a credit card which doesn't pull EX for every little thing .

Congrats! Revelate on your Sallie Mae approval! This is one card i was anxious to get and tried for but unfortunately failed to obtain even after 3 recons. That was 3 months ago and the U/W did say i could reapply for it again after 30 days i think? I'm kinda tempted to give it one more try but given my AAoA is just now slowly emerging from the cellar i'm not yet ready to chance another turn down. It's one on my list for later though.

Re: Sallie Mae Platinum approval

Revelate — Wed, 07 May 2014 19:44:51 GMT

@CreditMagic7 wrote:
Congrats! Revelate on your Sallie Mae approval! This is one card i was anxious to get and tried for but unfortunately failed to obtain even after 3 recons. That was 3 months ago and the U/W did say i could reapply for it again after 30 days i think? I'm kinda tempted to give it one more try but given my AAoA is just now slowly emerging from the cellar i'm not yet ready to chance another turn down. It's one on my list for later though.

Heh, I know the feeling. Up to 16 total tradelines on my personal report and if they were all to ninja report for May (pretty unlikely but it could happen) my AAoA will drop to 21 months and I'll be back in the AAoA basement again for a few months. My theory re: Barclays forum paranoia is they'll probably review the account at the 3 or six month mark, and by that time I should be back again north of 2 years AAoA so if they were going to approve me in the first place, it should be copasetic by then even with the flurry of new accounts. Also the fact the two installment loans likely both report as secured should be close to non-issue rationally.

Will be interesting to see what my Walmart score does: I'm going from 0 to 1 inquiry, and AAoA from 2 to 1 year - I don't think it's possible to setup any possible more negative situation for inquiries and new accounts given the way the algorithm works and I'd theorize that FICO '08 will punish that more harshly than the older models. Scorewatch / DCU might pick something up too as I suspect 2 vs 1 inquiry is scored exactly identically for virtually everyone and I started with 0 there too.

Maybe hard to isolate as sooner or later the IRS will process the paperwork and the lien from 11/12 is undoubtedly getting airstruck, and this will effect my FICO '08 scores substantially.

Re: Sallie Mae Platinum approval

Anonymous — Wed, 07 May 2014 19:53:03 GMT

Congrats!

Re: Sallie Mae Platinum approval

uswala — Wed, 07 May 2014 19:59:42 GMT

Congrats !

Re: Sallie Mae Platinum approval

09Lexie — Wed, 07 May 2014 20:10:14 GMT

@Revelate wrote:
So went and picked up a few tradelines before putting my credit report to sleep for who knows how long:

$4400 Sallie Mae Approval

Income: Listed it as 35K self-employed - in my feng shui existence now
FICO: 685ish on TU '08
Tax Liens: 2 released tax liens: Cali 12/10, IRS 11/13 (hasn't come off yet but wanted the inquiry done and over with)
Collections: 2 paid collections: 12/10 $196, 4/11 $95 (nuisance collection in FICO '08)
Lates: 30/60 from 8/10 on a BOFA credit card
Inquiries: 0 scoreable on TU at application time, 2 within 2 years, last one 1/13
Recent accounts: 1 opened in 4/14 (Fidelity Amex ninja reported to all bureaus for me), prior to that 1/13 was the last app spree
AAOA: just over 2 years, 13 total tradelines, mix of installment / revolving
Also picked up two more secured installment loans (one from Alliant CU, one from USAA) for FICO scoring purposes 5 years from now, done for a long while again as obtained what rewards I can for my credit strata, and finally got a credit card which doesn't pull EX for every little thing .

Looks like you've rounded out your portfolio nicely.

Well done.

Re: Sallie Mae Platinum approval

alvon123 — Wed, 07 May 2014 20:43:28 GMT

congrats

Re: Sallie Mae Platinum approval

-Wade- — Wed, 07 May 2014 21:17:42 GMT

@Revelate wrote:
So went and picked up a few tradelines before putting my credit report to sleep for who knows how long:

$4400 Sallie Mae Approval

Income: Listed it as 35K self-employed - in my feng shui existence now
FICO: 685ish on TU '08
Tax Liens: 2 released tax liens: Cali 12/10, IRS 11/13 (hasn't come off yet but wanted the inquiry done and over with)
Collections: 2 paid collections: 12/10 $196, 4/11 $95 (nuisance collection in FICO '08)
Lates: 30/60 from 8/10 on a BOFA credit card
Inquiries: 0 scoreable on TU at application time, 2 within 2 years, last one 1/13
Recent accounts: 1 opened in 4/14 (Fidelity Amex ninja reported to all bureaus for me), prior to that 1/13 was the last app spree
AAOA: just over 2 years, 13 total tradelines, mix of installment / revolving
Also picked up two more secured installment loans (one from Alliant CU, one from USAA) for FICO scoring purposes 5 years from now, done for a long while again as obtained what rewards I can for my credit strata, and finally got a credit card which doesn't pull EX for every little thing .

Congrats on your new TL's Very nice

Re: Sallie Mae Platinum approval

kaskuli — Wed, 07 May 2014 21:24:18 GMT

Congrats

Re: Sallie Mae Platinum approval

lg8302ch — Wed, 07 May 2014 21:28:34 GMT

congrats on SM...can't wait to pull the trigger myself on 06/01...

Re: Sallie Mae Platinum approval

Involver — Wed, 07 May 2014 22:43:37 GMT

Congrats!

Re: Sallie Mae Platinum approval

azguy13 — Wed, 07 May 2014 22:46:50 GMT

Congrats Rev

Re: Sallie Mae Platinum approval

CreditHealthy — Thu, 08 May 2014 01:19:22 GMT

Congrats!