topic Re: Introduction and What step do I take? in Credit Card Applications

Introduction and What step do I take?

Anonymous — Thu, 27 Nov 2014 17:05:09 GMT

Hi all, been lurking on this site for about a month and joined this week. A lot of great info around here and it's really helped already.

My short story:

THE BAD

Owned my own biz for several years until the recession of 2008. I lost my shirt in the crash.

Foreclosure Chase Oct 2008

charged off BoA cc - settled this summer

charged off chase cc - they just sent me a very fair offer to settle which I plan to take

tax lien - currently in offer and compromise waiting period

THE GOOD:

Paypal - Synch bank $500 approved 12/13

Credit One $650 approved 7/14

Cap One Plat $750 app 6/14

Merrick bank $700 app 9/14

Cap one QS1 $3000 app 10/14

walmart store card $1100 app 11/14

bestbuy $1000 app 11/14

Do I wait and garden for 6 months? Or....what say you?

Re: Introduction and What step do I take?

js0319 — Thu, 27 Nov 2014 17:28:22 GMT

What are your goals? What are you trying to do? This will help determine the type of feedback and direction you'll get.

Re: Introduction and What step do I take?

Anonymous — Thu, 27 Nov 2014 17:32:14 GMT

@Anonymous wrote:
Hi all, been lurking on this site for about a month and joined this week. A lot of great info around here and it's really helped already.

My short story:

THE BAD

Owned my own biz for several years until the recession of 2008. I lost my shirt in the crash.

Foreclosure Chase Oct 2008
charged off BoA cc - settled this summer
charged off chase cc - they just sent me a very fair offer to settle which I plan to take

tax lien - currently in offer and compromise waiting period

THE GOOD:

Paypal - Synch bank $500 approved 12/13
Credit One $650 approved 7/14
Cap One Plat $750 app 6/14
Merrick bank $700 app 9/14
Cap one QS1 $3000 app 10/14
walmart store card $1100 app 11/14
bestbuy $1000 app 11/14

Do I wait and garden for 6 months? Or....what say you?

Garden. Now.

Re: Introduction and What step do I take?

Anonymous — Thu, 27 Nov 2014 20:48:19 GMT

Duh....sorry

eqfax- 657

TU- 653

Exp - 641

Overall goal is to get this tax lien cleared up and get my scores back above 700, so I can rate shop for a mortgage. Hopefully in 12 months or less.

Re: Introduction and What step do I take?

Anonymous — Thu, 27 Nov 2014 20:51:43 GMT

@Anonymous wrote:
Duh....sorry

eqfax- 657
TU- 653
Exp - 641

Overall goal is to get this tax lien cleared up and get my scores back above 700, so I can rate shop for a mortgage. Hopefully in 12 months or less.

I'd still not app for anything right now. Nothing good will come of it.

Re: Introduction and What step do I take?

Anonymous — Thu, 27 Nov 2014 21:01:43 GMT

Yeah, that's kind of where I was in my mind. I don't really need any certain cc. All combined my balances are less than $500. I could pay that off tomorrow, I'm just trying to show use for CLI down the road.

Can anyone give me an idea of when to start requesting CLI, based on when I got these cards?

thanks

Re: Introduction and What step do I take?

Anonymous — Thu, 27 Nov 2014 21:02:51 GMT

@Anonymous wrote:
Yeah, that's kind of where I was in my mind. I don't really need any certain cc. All combined my balances are less than $500. I could pay that off tomorrow, I'm just trying to show use for CLI down the road.

Can anyone give me an idea of when to start requesting CLI, based on when I got these cards?

thanks

3-8 months.

Re: Introduction and What step do I take?

elim — Thu, 27 Nov 2014 21:08:18 GMT

garden / remove negatives

Re: Introduction and What step do I take?

uswala — Thu, 27 Nov 2014 21:35:00 GMT

@elim wrote:
garden / remove negatives

Re: Introduction and What step do I take?

Creditaddict — Thu, 27 Nov 2014 23:05:51 GMT

@Anonymous wrote:
Hi all, been lurking on this site for about a month and joined this week. A lot of great info around here and it's really helped already.
x lien - currently in offer and compromise waiting period

THE GOOD:

Paypal - Synch bank $500 approved 12/13
Credit One $650 approved 7/14
Cap One Plat $750 app 6/14
Merrick bank $700 app 9/14
Cap one QS1 $3000 app 10/14
walmart store card $1100 app 11/14
bestbuy $1000 app 11/14

Do I wait and garden for 6 months? Or....what say you?

1. Close Credit One - know you just got it but you don't need it and you pay monthly for it and yearly... get rid of it now!

2. I might apply to Discover before you head to the garden - they sometimes really like the profile thats been messed up in the past but on the road to good but doesn't have a ton of credit yet.

3. request CLI on paypal monthly until you get one... when you get one reset the clock for 4 months to request again.

4. Walmart try the chat feature NOW (it appears during business hours) and ask for a CLI to $5k) if they say no then request cli at 4 months.

Re: Introduction and What step do I take?

Anonymous — Thu, 27 Nov 2014 23:57:00 GMT

Ok. Didn't want to post a book in my first try:

I have no problem closing credit one. Used it a few times, made about 5 monthly payments, asked for CLI on wed through the auto system and was denied. Should I call and try with a person and keep it if they agree to no AF and a CLI. Or just close it?

I applied for a discover it back in July - denied.

I also applied for Barclays at the same time and was denied. Even though I had a $12.5k card with them in 2007 paid perfectly. Still nothing.

My last thought is my FCU here in town is really loose with approvals. That would be my last before gardening for about 6 months.

Re: Introduction and What step do I take?

Creditaddict — Fri, 28 Nov 2014 00:00:34 GMT

@Anonymous wrote:
Ok. Didn't want to post a book in my first try:

I have no problem closing credit one. Used it a few times, made about 5 monthly payments, asked for CLI on wed through the auto system and was denied. Should I call and try with a person and keep it if they agree to no AF and a CLI. Or just close it?

I applied for a discover it back in July - denied.

I also applied for Barclays at the same time and was denied. Even though I had a $12.5k card with them in 2007 paid perfectly. Still nothing.

My last thought is my FCU here in town is really loose with approvals. That would be my last before gardening for about 6 months.

yes close credit one.

skip discover and barclay and go for your FCU and then garden... good plan!