topic Re: help w/ building credit and getting CC in Credit Cards

help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 01:43:28 GMT

Hello! So ive got kind of a wierd credit history, i had a best buy card started in 05 and used it a few times always paid it off, eventually it was closed for lack of use. then about 04 i got a car loan w/ my dad as cosignor and about half way thru he passed away, it was paid as agreed no lates, then 10 or 11 i got my own loan through wells for about $19k at 17% i did it just to build credit and i paid off the loan after about a year and a half because of the high rate. I applied for a couple CCs a year ago and was denied (one was a really hard to get card but the other was my local CU that ive had my business acct w/ for 3+ years w/ over $100k in it) I want to buy a house soon and need to build up my Credit quick. im currently a 664 TU and 628 EQ according to creditkarma. i have no derogatory or lates but im super thin file... i have alot of pulls on EQ because of my business i own for insurance and things of that nature. What should i do? I want a decent CC that i can just start paying daily business expenses w/ and pay it down quickly. Thanks

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 01:44:56 GMT

Im thinking of trying one of the pre approval links for a CC, i wanted to do Barclays since they use TU primarily but looks like they no longer have a pre approval area...?

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 01:52:50 GMT

heres what KK says about me, its really irritating it says no payment history when ive paid 2 auto loans as agreed...

Your Credit Scores

664

Provided by

628

Provided by

Congratulations! We've found a great offer for you based on your credit score!

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Approval Odds†

0% intro APR on purchases & balance transfers for 12 months - then a variable purchase APR applies, currently 10.99% - 22.99%. A 3% fee applies to each transferred balance.
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Factors Impacting Your Scores

Credit Card Utilization High Impact

Your credit card utilization is the percentage of your credit limits that you're using. Learn More

No Info Available

Payment History High Impact

The percentage of payments that you’ve made on time helps show how reliable you are in meeting your billing obligations. Learn More

No Info Available

Derogatory Marks High Impact

Accounts in collections, bankruptcies, civil judgments, and liens are items on your credit report. Learn More

Age of Credit History Medium Impact

The amount of time your credit accounts have been open, averaged across all of your accounts. Learn More

No Info Available

Total Accounts Low Impact

This metric represents the total number of accounts listed on your credit reports. Learn More

Credit Inquiries Low Impact

This number represents the number of hard inquiries reported on your credit over the last two years. Learn More

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 02:02:04 GMT

First off, use caution using Credit Karma's recommendations, it is often faulty advice. If I were you I would look for a card that is easy to get, don't try to get a "good card" as they are most likely out of your reach. Check Capital One's preapproval page on their site. Worst case get a secured card. Don't go by CK scores either, they are not Fico scores.

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 02:20:31 GMT

I actually just went to Chases pre approval and it said "your pre qualified credit card offers and showed me slate and freedom card, am i actually approved for these or do they just want me to apply? Is there some where else i should find my real scores for a better idea what to do?

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 02:24:22 GMT

Just google preapproved credit card and most of the major cards that do preapprovals show up. Watch for the ones that say something like "You are pre approved to apply." I think Bank of America does that.

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 02:24:43 GMT

@Anonymous wrote:
I actually just went to Chases pre approval and it said "your pre qualified credit card offers and showed me slate and freedom card, am i actually approved for these or do they just want me to apply? Is there some where else i should find my real scores for a better idea what to do?

Welcome to MyFico. You can get your real scores from here. As a friendly reminder, never base any application decision on CK recommendations. Also, if you are pre-approved on Chase website, it is not an "automatic" approval" as you can still get declined.

But being pre-approved on thier site is 80% solid.

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 02:24:59 GMT

Chase shows me nothing for what its worth.

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 02:33:20 GMT

I don't know exactly how business credit works, but it sounds like you are wanting it to show up on your personal credit file.

I am pretty sure there are ways to apply for credit cards and not have them report to your file but in your situation maybe this would help?

Capital One has Spark Cash for business that yields unlimited 2% cash back with a small annual fee. Maybe you could get in the door with them with one of their lower end cards first.

You may be better off sticking with your credit union at first. I'd hate to see you have to waste your time with the crappier cards.

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 02:44:09 GMT

Thanks for the welcome and responses! Can i add pics on here? I want to show the screen Chase gave me after the pre approval to see if its a legit offer or just a bait to apply.... I do want this for my personal file not my business and my CU is not gonna do anything until i finish my taxes which are in the works right now and i want to get started building now.

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 02:48:47 GMT

@Anonymous wrote:
Thanks for the welcome and responses! Can i add pics on here? I want to show the screen Chase gave me after the pre approval to see if its a legit offer or just a bait to apply.... I do want this for my personal file not my business and my CU is not gonna do anything until i finish my taxes which are in the works right now and i want to get started building now.

You have to have a certain number of posts to be able to post pics.. Find out what your real FICOs are in the meantime and report back. Most people here know what Chase pre-approvals look like and Chase does not kid with that stuff on their site-

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 03:01:56 GMT

@Anonymous wrote:
Thanks for the welcome and responses! Can i add pics on here? I want to show the screen Chase gave me after the pre approval to see if its a legit offer or just a bait to apply.... I do want this for my personal file not my business and my CU is not gonna do anything until i finish my taxes which are in the works right now and i want to get started building now.

I don't think you can add pics or html until you are more established.

So for experiments sake, I just went to chases preapproval site for you. With my scores, they offered me the freedom with 22.9 interest. Then I ran a person with 760 and they got the freedom with 18.9, and the chase sap with 15.99. BUT I ran a third persons, who has scores closer to you, 620.630 and they got the freedom 22.9 and chase slate at 22.9. Credit scores really don't mean anything as files are completely different. But I guarantee you if the latter applied they would get denied.

Chase does do some pretty darn good recons tho, especially with their EO. They were very polite with me and even let me recon a 2nd time. But I was denied both times due to their mistake saying I had never closed a checking account with them and owed 75 dollars. Even though I paid it to them on the phone right away the 2nd recon wasnt good enough.

How many experian inquires do you have? You should figure out based on what state you are in, which of your 3 CRs would be the best, and choose the lender on that, and also one that you can grow with. Or you can be like me and get a crappy credit one card to start off with and pay $40 a year for it lol.

Capital one is gonna cost u 3 inquiries though, one on each...and I'd hate to see u go above the 8 on the one that you have. It should say when they will be dropping off.

I am in the midwest and chase has only pulled my Equifax.

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 04:29:57 GMT

where can i get my real fico for free? do you have an email you can pm me so i can send you a screen shot of what chase showed me to seee if its a real offer or just trying to get me to apply? I tried Capitol 1 and discover and they both said they found cards for me but then the button says "apply here" if im really approved wont it say something like "take offer now"? thats what my research seems to say... i really dont want any more pulls unless i know im gettin a card.

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 07:15:44 GMT

After looking at why my hard pulls are so high on Equifax the place i got my business insurance through did a pull on 3/3/14 again on 3/4/14 then 4/28/14 and 4/29/14... they should have no reason to pull it 2 days in a row and then a month later another 2 days in a row...? I read up on getting them removed some say write the business responsible for the pulls others say contact Equifax directly.... then i read that disputing them can put a fraud alert on my account and even cause the place that pulled it to cancel me? What should I do? I want my score to be what it should be w/o all the extra pulls but not make my life more difficult w/ fraud alerts or making it harder to obtain business insurance in the future.

Re: help w/ building credit and getting CC

Anonymous — Fri, 19 Jun 2015 11:25:18 GMT

My advise on the Credit pulls is to dispute with the insurance carrier via certified letter. They can remove the inquiries without your credit report going into a fraud status. You might consider making a call first. Maybe they think they have a reason. Or possibly, they might go ahead and delete some inquiries. If not, then continue with the certified letter.

If you dispute through EQ and they do place a fraud alert on you file, it's usually a temporary 90 day status. So it depends on whether you intend to apply for anything after the fraud alert is placed on your file. I am not sure how a potential creditor would react to a fraud alert. Maybe someone here knows.

Re: help w/ building credit and getting CC

Anonymous — Sat, 20 Jun 2015 02:31:17 GMT

Ok so i just went for it, I got approved for the freddom and got a $3500 limit which im happy with it. I also contacted the insurance place and started the dispute on the extra hard pulls. I appreciate everyones input, happy to finally have my foot in the door!

Re: help w/ building credit and getting CC

Anonymous — Sat, 20 Jun 2015 03:13:35 GMT

And i just got notification of the hard pull on my TU and it knocked my score down 34 points! **bleep**? Its the one and only pull on TU and i went from 664 to 630?

Re: help w/ building credit and getting CC

Anonymous — Sat, 20 Jun 2015 03:45:20 GMT

Congrats on your approval. And don't worry about the hit to your credit score -- it's just temporary and will bounce back after a few months.

Re: help w/ building credit and getting CC

jamie123 — Sat, 20 Jun 2015 11:59:49 GMT

@Anonymous wrote:
And i just got notification of the hard pull on my TU and it knocked my score down 34 points! **bleep**? Its the one and only pull on TU and i went from 664 to 630?

Don't worry about your scores right now. That is the price we all have to pay to have good scores in the future.

You need to learn something here...

You need at least 3 credit cards to be able to get the best scores and start building good history. Now is the time to get 2 more cards. Being approved for a Chase Freedom is a very good sign! It is not the easiest card to get. Your scores might drop a bit once the Freedom starts reporting to your credit reports.

I would suggest apping for 2 more cards that you have a good chance of getting:

Discover IT

Capital One Quicksilver.

You should app for those cards right now! Don't wait!

You are very early in your credit building journey so don't worry about denials or inquiries at this point. They will drop off soon enough.

You must develop a long term plan and execute it. Credit cards are the foundation to really high and rock solid credit scores in the future. You want to end up with 5 to 8 quality credit cards that you can keep open for the rest of your life!

If you get these credit cards now you don't need to make any other credit moves for at least 6 months. Well...You might consider opening a savings account at a credit union and taking out a share secured loan but we can talk about that later.

Go get those cards!

Report back here!

Re: help w/ building credit and getting CC

Anonymous — Sat, 20 Jun 2015 13:24:58 GMT