topic Re: Self imposed timeout!!!! in Credit Cards

Self imposed timeout!!!!

Ford725 — Thu, 30 Apr 2015 03:47:39 GMT

I had to get a grip really fast! This time last year my credit was in the toilet. Finally started to claw my way out last September. Had been accustomed to constant rejection because of my past mistakes. Anyway, slowly but surely the approvals started rolling in and I couldn't stop myself. I started racking up Comenity cards through SCT. Bad, bad idea! I was apping with no clear goals, just doing it because it felt good to be accepted. After racking up may last approval from JCP with a $100 credit limit, I knew I had to stop or I would cause tremendous setbacks in my credit recovery.

I began to evaluate my so called progress and use the garden for what it's for. I started closing cards I knew I would not use, like KingSize, Buckle, Victoria Secret, and Bonton. Most had toy limits anyway. I realized if I wanted the Big Banks to take me seriously, I had to do some pruning and weeding. At the same time I started to focus on the quality of the card, not quantity. I added Macy's and Bloomingdales.

Now, rather than look for new credit, I want to grow what I have. I think Synchrony is going to be really good to me. They gave me increases on Walmart, 100 to 3500 and Chevron, 500 to 2000. I'm going to continue the trend with the rest in the hopes that when I am ready to app again, my increased limits on the cards I do have will keep me out of TOY LAND!!!

Lastly, this forum has been invaluable to me. I can't thank you all enough for sharing your stories, insights and advise. I'll update as I get those increases and let you know my successes in a few months when I go for the BIG DOGS!!! Blessings

My wishlist is: AMEX, BARCLAY, CHASE, CAPITAL ONE, CITI

Re: Self imposed timeout!!!!

myjourney — Thu, 30 Apr 2015 04:19:59 GMT

Bravo

Plan your work and work your plan

Keep us posted

Re: Self imposed timeout!!!!

Ford725 — Thu, 30 Apr 2015 04:29:19 GMT

@myjourney wrote:
Bravo
Plan your work and work your plan
Keep us posted

Thank you myjourney, for sure. Appreciate it!

Re: Self imposed timeout!!!!

selena — Thu, 30 Apr 2015 04:41:53 GMT

I remember I started out that way. As soon as I was approved for one I just kept apping away. It took me going through the process of trying to buy a car to slow me down. I ended up the a 600ish credit score and too many inquires and very low aaoa. Now I'm have 700s across all 3. So it will all happen in due time Best of luck!

Re: Self imposed timeout!!!!

Ford725 — Thu, 30 Apr 2015 04:45:57 GMT

@selena wrote:
I remember I started out that way. As soon as I was approved for one I just kept apping away. It took me going through the process of trying to buy a car to slow me down. I ended up the a 600ish credit score and too many inquires and very low aaoa. Now I'm have 700s across all 3. So it will all happen in due time Best of luck!

Thank you Selena. Congrats on your success. Looking for the same. That $100 bucks from JCPENNY was my wake up. Appreciate the well wishes!

Re: Self imposed timeout!!!!

Anonymous — Thu, 30 Apr 2015 04:56:31 GMT

I thought the hard part was cleaning up some things on my report and patiently waiting until they updated BUTTTTTTT

I am finding out the hardest part is gardening! My scores have gone up 100+ points since November. My latest boost was TU putting me at 750. It is taking every ounce of restraint I have not to apply for SOMETHING lol It totally destroyed me when I first saw how low my scores were. Now that I am getting pre-approvals in the mail, I am feeling the love and it is SO hard to say no. DH and I are planning on buying a house this year. We decided to go ahead and apply in May. His scores are now lower than mine so they will use his vs. mine for mortgage. I have that little red guy sitting on one shoulder saying, go for it, your scores don't matter. The halo guy is on the other shoulder saying, be patient, you will get any card you want after you have your house. My neck is sore from going back and forth listening to these guys lol My goal is to have up to 5 GOOD cards with limits above $5k and a mortgage loan (for now).

It will take a lot of patience and restraint but you can do it!!!

Re: Self imposed timeout!!!!

Ford725 — Thu, 30 Apr 2015 05:07:43 GMT

@Anonymous wrote:
I thought the hard part was cleaning up some things on my report and patiently waiting until they updated BUTTTTTTT

I am finding out the hardest part is gardening! My scores have gone up 100+ points since November. My latest boost was TU putting me at 750. It is taking every ounce of restraint I have not to apply for SOMETHING lol It totally destroyed me when I first saw how low my scores were. Now that I am getting pre-approvals in the mail, I am feeling the love and it is SO hard to say no. DH and I are planning on buying a house this year. We decided to go ahead and apply in May. His scores are now lower than mine so they will use his vs. mine for mortgage. I have that little red guy sitting on one shoulder saying, go for it, your scores don't matter. The halo guy is on the other shoulder saying, be patient, you will get any card you want after you have your house. My neck is sore from going back and forth listening to these guys lol My goal is to have up to 5 GOOD cards with limits above $5k and a mortgage loan (for now).

It will take a lot of patience and restraint but you can do it!!!

You see them too (little red guy, halo guy)...........LMBO!!!! they keep me up all night. Thank God, halo guy is louder and bigger now! He's the one that jammed the shovel in my hand. I have to be very strategic about my next set of moves. I'm looking for my first BRAND NEW car in December. Thank you for sharing. I pray all goes well for you and your DH in the purchase of your new home. Thanks again. Stay tuned...........

Re: Self imposed timeout!!!!

Anonymous — Thu, 30 Apr 2015 05:30:03 GMT

They keep me up all night too (hence it is why I am here at 1:30 a.m.) LOL The 3rd little guy (the joker) is sitting there laughing at the other 2 while waving loan papers!

Re: Self imposed timeout!!!!

Ford725 — Thu, 30 Apr 2015 05:33:44 GMT

Bahahaha!!! I'm sitting with a patient trying everything to stay off the APPROVALS forum. Reading all those approvals will get a person tricked REAL quick.......

Re: Self imposed timeout!!!!

Imperfectfuture — Thu, 30 Apr 2015 09:46:36 GMT

I can handle approvals, but I have so much credit right now, and tons of 0% to work with! there is no desire for my other cards. I want sallie Mae next sept/October, ink cash next May 2016, maybe discover in July (or not), and add on CSP maybe December 2016.

Around March 2017, probably convert Aviator to the Ring. So I have a plan, and want to keep the creditors I have now happy. Of course, something new might come up, but I do want something that will transfer points and handle trips.

My SimplyCash is the best cash back card so far, after the two months, they just apply the cash to your account. Also serves as my 3% dining when 5% isn't applicable. The amazon carries that for small businesses and places that don't accept Amex, but that card will be absorbed into the ink cash.

Happy gardening.

Re: Self imposed timeout!!!!

Anonymous — Thu, 30 Apr 2015 10:09:41 GMT

The approvals are nice but I have also come to realize that big banks with big limits is better than having a bunch of $500 cards. I am choosing the simple life now and don't want more than 6 personal lines. I will see you in the garden!

Re: Self imposed timeout!!!!

Ford725 — Thu, 30 Apr 2015 10:11:11 GMT

@Imperfectfuture wrote:
I can handle approvals, but I have so much credit right now, and tons of 0% to work with! there is no desire for my other cards. I want sallie Mae next sept/October, ink cash next May 2016, maybe discover in July (or not), and add on CSP maybe December 2016.

Around March 2017, probably convert Aviator to the Ring. So I have a plan, and want to keep the creditors I have now happy. Of course, something new might come up, but I do want something that will transfer points and handle trips.

My SimplyCash is the best cash back card so far, after the two months, they just apply the cash to your account. Also serves as my 3% dining when 5% isn't applicable. The amazon carries that for small businesses and places that don't accept Amex, but that card will be absorbed into the ink cash.

Happy gardening.

Wow.......I wanna be you when I grow up! Lol. I have my eyes on shiny new CSP, SM and AMEX of any kind. Thanks for the well wishes.

Re: Self imposed timeout!!!!

Ford725 — Thu, 30 Apr 2015 10:16:55 GMT

@MstrPTato wrote:
The approvals are nice but I have also come to realize that big banks with big limits is better than having a bunch of $500 cards. I am choosing the simple life now and don't want more than 6 personal lines. I will see you in the garden!

ONLY SIX?!?!.........I'm shakin' just thing about it. Lol. Definitely agree with big limits over small ones. I'm hoping Synchrony will help get me over that hump. It was important to not only get some quality cards I would actually use but, get some that would grow QUICK and HUGE!!! We'll see if I'm right over the next month or so. Thanks for the insight.

Re: Self imposed timeout!!!!

Anonymous — Thu, 30 Apr 2015 10:25:19 GMT

@Ford725 wrote:
@MstrPTato wrote:
The approvals are nice but I have also come to realize that big banks with big limits is better than having a bunch of $500 cards. I am choosing the simple life now and don't want more than 6 personal lines. I will see you in the garden!
ONLY SIX?!?!.........I'm shakin' just thing about it. Lol. Definitely agree with big limits over small ones. I'm hoping Synchrony will help get me over that hump. It was important to not only get some quality cards I would actually use but, get some that would grow QUICK and HUGE!!! We'll see if I'm right over the next month or so. Thanks for the insight.

A couple months ago I wanted all that I could get. I only want to worry about a couple now. Granted Lowe's passes out great limits, but I didn't get it for that reason. Being a homeowner, you never know when you are going to need something expensive and they offer both 0%, big purchase financing, or 5% off daily. Who knows when my water heater will blow, but I know I am covered with a large limit. Citi is my oldest account, CSP is metal and I had to try it, and I bank with BoA. BestBuy also has great financing and I like electronics. Like I said elsewhere, I am gardening for the summer and will look at anything new in December (eyeing AARP for 3% restaurant). I also want to get past that bronze spade I have once since I joined here.

Re: Self imposed timeout!!!!

Ford725 — Thu, 30 Apr 2015 10:33:04 GMT

@MstrPTato wrote:
@Ford725 wrote:
@MstrPTato wrote:
The approvals are nice but I have also come to realize that big banks with big limits is better than having a bunch of $500 cards. I am choosing the simple life now and don't want more than 6 personal lines. I will see you in the garden!
ONLY SIX?!?!.........I'm shakin' just thing about it. Lol. Definitely agree with big limits over small ones. I'm hoping Synchrony will help get me over that hump. It was important to not only get some quality cards I would actually use but, get some that would grow QUICK and HUGE!!! We'll see if I'm right over the next month or so. Thanks for the insight.
A couple months ago I wanted all that I could get. I only want to worry about a couple now. Granted Lowe's passes out great limits, but I didn't get it for that reason. Being a homeowner, you never know when you are going to need something expensive and they offer both 0%, big purchase financing, or 5% off daily. Who knows when my water heater will blow, but I know I am covered with a large limit. Citi is my oldest account, CSP is metal and I had to try it, and I bank with BoA. BestBuy also has great financing and I like electronics. Like I said elsewhere, I am gardening for the summer and will look at anything new in December (eyeing AARP for 3% restaurant). I also want to get past that bronze spade I have once since I joined here.

I love your PLAN STAN!! I'm joining you through the summer (fingers crossed behind my back)......Seriously, you seem really focused on what you want and what will work for you. Here's praying it all works out, including chucking the bronze spade by December!

Re: Self imposed timeout!!!!

Anonymous — Thu, 30 Apr 2015 10:41:18 GMT

@Ford725 wrote:
@MstrPTato wrote:
@Ford725 wrote:
@MstrPTato wrote:
The approvals are nice but I have also come to realize that big banks with big limits is better than having a bunch of $500 cards. I am choosing the simple life now and don't want more than 6 personal lines. I will see you in the garden!
ONLY SIX?!?!.........I'm shakin' just thing about it. Lol. Definitely agree with big limits over small ones. I'm hoping Synchrony will help get me over that hump. It was important to not only get some quality cards I would actually use but, get some that would grow QUICK and HUGE!!! We'll see if I'm right over the next month or so. Thanks for the insight.
A couple months ago I wanted all that I could get. I only want to worry about a couple now. Granted Lowe's passes out great limits, but I didn't get it for that reason. Being a homeowner, you never know when you are going to need something expensive and they offer both 0%, big purchase financing, or 5% off daily. Who knows when my water heater will blow, but I know I am covered with a large limit. Citi is my oldest account, CSP is metal and I had to try it, and I bank with BoA. BestBuy also has great financing and I like electronics. Like I said elsewhere, I am gardening for the summer and will look at anything new in December (eyeing AARP for 3% restaurant). I also want to get past that bronze spade I have once since I joined here.
I love your PLAN STAN!! I'm joining you through the summer (fingers crossed behind my back)......Seriously, you seem really focused on what you want and what will work for you. Here's praying it all works out, including chucking the bronze spade by December!

After my Bank of America approval the other day, and other happenings going on around the boards here, I have decided this is what I am going for and am sticking to it. I need some of these inquires to fall off and the only way to have them go away is to stop taking the hits. I am going for that gold spade!! I would rather have, and this is only an example, $100,000 over 6 lines of credit than to have even $110,000 over 30 lines. What looks better? I know what I like.

Re: Self imposed timeout!!!!

Ford725 — Thu, 30 Apr 2015 10:51:49 GMT

@MstrPTato wrote:
@Ford725 wrote:
@MstrPTato wrote:
@Ford725 wrote:
@MstrPTato wrote:
The approvals are nice but I have also come to realize that big banks with big limits is better than having a bunch of $500 cards. I am choosing the simple life now and don't want more than 6 personal lines. I will see you in the garden!
ONLY SIX?!?!.........I'm shakin' just thing about it. Lol. Definitely agree with big limits over small ones. I'm hoping Synchrony will help get me over that hump. It was important to not only get some quality cards I would actually use but, get some that would grow QUICK and HUGE!!! We'll see if I'm right over the next month or so. Thanks for the insight.
A couple months ago I wanted all that I could get. I only want to worry about a couple now. Granted Lowe's passes out great limits, but I didn't get it for that reason. Being a homeowner, you never know when you are going to need something expensive and they offer both 0%, big purchase financing, or 5% off daily. Who knows when my water heater will blow, but I know I am covered with a large limit. Citi is my oldest account, CSP is metal and I had to try it, and I bank with BoA. BestBuy also has great financing and I like electronics. Like I said elsewhere, I am gardening for the summer and will look at anything new in December (eyeing AARP for 3% restaurant). I also want to get past that bronze spade I have once since I joined here.
I love your PLAN STAN!! I'm joining you through the summer (fingers crossed behind my back)......Seriously, you seem really focused on what you want and what will work for you. Here's praying it all works out, including chucking the bronze spade by December!
After my Bank of America approval the other day, and other happenings going on around the boards here, I have decided this is what I am going for and am sticking to it. I need some of these inquires to fall off and the only way to have them go away is to stop taking the hits. I am going for that gold spade!! I would rather have, and this is only an example, $100,000 over 6 lines of credit than to have even $110,000 over 30 lines. What looks better? I know what I like.

Now, THAT'S WHAT IM TALKING ABOUT!!!! Once I start getting what I want, that is definitely the plan! Being apart of this community can be a major blessing or curse depending on your goals or lack of them. Thanks for the wisdom.

Re: Self imposed timeout!!!!

Anonymous — Thu, 30 Apr 2015 11:00:18 GMT

@Ford725 wrote:
@MstrPTato wrote:
@Ford725 wrote:
@MstrPTato wrote:
@Ford725 wrote:
@MstrPTato wrote:
The approvals are nice but I have also come to realize that big banks with big limits is better than having a bunch of $500 cards. I am choosing the simple life now and don't want more than 6 personal lines. I will see you in the garden!
ONLY SIX?!?!.........I'm shakin' just thing about it. Lol. Definitely agree with big limits over small ones. I'm hoping Synchrony will help get me over that hump. It was important to not only get some quality cards I would actually use but, get some that would grow QUICK and HUGE!!! We'll see if I'm right over the next month or so. Thanks for the insight.
A couple months ago I wanted all that I could get. I only want to worry about a couple now. Granted Lowe's passes out great limits, but I didn't get it for that reason. Being a homeowner, you never know when you are going to need something expensive and they offer both 0%, big purchase financing, or 5% off daily. Who knows when my water heater will blow, but I know I am covered with a large limit. Citi is my oldest account, CSP is metal and I had to try it, and I bank with BoA. BestBuy also has great financing and I like electronics. Like I said elsewhere, I am gardening for the summer and will look at anything new in December (eyeing AARP for 3% restaurant). I also want to get past that bronze spade I have once since I joined here.
I love your PLAN STAN!! I'm joining you through the summer (fingers crossed behind my back)......Seriously, you seem really focused on what you want and what will work for you. Here's praying it all works out, including chucking the bronze spade by December!
After my Bank of America approval the other day, and other happenings going on around the boards here, I have decided this is what I am going for and am sticking to it. I need some of these inquires to fall off and the only way to have them go away is to stop taking the hits. I am going for that gold spade!! I would rather have, and this is only an example, $100,000 over 6 lines of credit than to have even $110,000 over 30 lines. What looks better? I know what I like.

Now, THAT'S WHAT IM TALKING ABOUT!!!! Once I start getting what I want, that is definitely the plan! Being apart of this community can be a major blessing or curse depending on your goals or lack of them. Thanks for the wisdom.

See you in the garden!!

Re: Self imposed timeout!!!!

Anonymous — Thu, 30 Apr 2015 11:11:54 GMT

Awesome.

Re: Self imposed timeout!!!!

Ford725 — Thu, 30 Apr 2015 12:12:47 GMT

@Vulcan1600 wrote:
Awesome.

Thanks Volcan, I really wanna do it right this time!