topic Re: I Could Use Advise in Credit Cards

I Could Use Advise

Anonymous — Fri, 27 Nov 2015 19:01:41 GMT

This is more looking for affirmation that I'm on the right track, and doing the right thing(s).

I had terrible credit a year ago. There was a Federal Tax Lien from 1995 for $13,000, (4) different collecton accounts - all medical related, (1) Public Record (tax lien), and that was about it.

I started by seeing what I could do about the FTL first. By reseacrhing tax code, I found out that according to IRC 6502 and IRC 6502(a) that as long I did not enter into any "Offer in Compromise", "Installment Payment Agreement" or any other agreement with the IRS, that they only have 10 years to collect that tax debt once assessed in their system. So, I wrote a letter to the IRS stating their IRC 6502 & IRC 6502(a) wording, and their response couldn't have been more surprising. The IRS verified that what I had written was 100% correct. After, a request for a Removal of Federal Tax Lien was sent to them, I got a notice back stating that I owed $0, and that the FTL was no longer valid and was automatically withdrawn. Wow, was I shocked to learn that. Knowledge is power.

I took the IRS Notice of Release/Withdrawl of Federal Tax Lien to the County Couthouse in my city, and went ot the Clerk's Office, showed them my documentation, and they removed the notice from their Public Record system. This whole process took about 2-3 months of calls, writing letters, and going to the courthouse.

Then, I tackled the Collection Accounts. 2 were from the same Collection Agency, so I called them. The guy on the phone (Michael) was as nice and professional as could be (they were an attorney firm), and I explained my credit situtation and my financial situation. The total for 2 bills they had for me was only $463. I was shocked when he said that they would settle the debt for $165! To be up front, I live on a very small private pension, and there isn't much more to get out of me. He said that once they had the money, they would take the item(s) off my credit report. I sent them a Money Order, and about a week later, the items were removed. Again, was I shocked and happy. I called hiim back and thanked him for keeping his word.

That left the other 2. Had a bit harder time with these. So, I found out about the SOL in my State in regards to Medical Bills. That SOL in my State is 3 years. I then investigated the authenticity of the Colection Aggency itself, and found that they had numerous complaints and unscupulous practices. So, I disputed with the CRA's on those premises and that they were not allowed to collect these accounts. Just thought it might work. Well, it did. They removed them.

That cleaned my report up. Here's where I could use advise or affirmnation or what to do next:

In Januaury 2015, I applied for a Secured Capital One Platinum Card, was approved and I put a $300 deposit. In April, I applied for a Chase Freedom Card, and was instantly approved for $1200. In May, I applied for a Discover It Card, and was instantly approved for $1250.

In August 2015 Capital One gave me an automatic CLI of $300 on my Secured Card for a CL of $600. On November 6, 2015, I went on-line to Discover It and asked for a CLI. They did a SP and gave me a $1000 CLI for a CL of $2250. On November 25, I appplied for a Chase Slate Card and was instantly approved for $2500. Same day I applied for a Capital One Quicksilver Master Card, and they said "need further investigation". So, I called the Recon number, and they said that since I put a Credit Freeze on Experian (due to another unscruplous collection agency trying to collect on a 1987 Student Loan Balance of $671!, and Experian will not remove that item, so I froze Experian from being pulled), that they needed me to verify my Driver License, Social Security Card, and my Bank Statement, which I immediately faxed over to them. The representative said that once my verification gets into the system, that it will be 24-48 hours before (his words - it shows up in my account). I took that as if they were going to approve me, but we will have to wait and see. I called bacl today to verify they received my fax, and was told it could take up to 3 weeks to get into the system. And, they said they were extremely busy with the holidays.

So, that's the extent of my currenct credit building/chasing venture. As it stands today, my Transunion Score is 737- they use a Vantage Score Now, my Equifax Score is 697, and my Experian Score is 639* due to that 1987 Student Loan that they refuse to remove. Other than that Student loan, there is nothing but good on my report(s).

My plan from here today on, is to Garden, untli January 2018.

Captial One Secure Card Balance: $16

Chase Freedom Card Balance: $165

Discover It Card Balance: $286 (just paid my car insurance in full. Due to better credit my premium went from $418 down to $286 for 6 months!)

Chase Slate Balance: $0

And if approved for Capital One Quicksilver Balance: $0

So, from you folk's experience and knowledge, am I on the right track? Is my Gardening plan correct and efficient? I know I have too many inquiries now, but had to do that to get the cards and rebuild the credit. Thus, why no more pulls for 2 years, at minimum. For Inquiry sake: TU 6, EQ 7, EX 8.

Thank you all ahead to time for your repsonses. I tried to include all information to get nformed advise. Thanks again!

Re: I Could Use Advise

Themanwhocan — Fri, 27 Nov 2015 20:17:27 GMT

What are your goals?

Do you want credit cards with good rewards (cash back? travel?). Are you looking to get to having $10,000 credit limit cards from good banks and credit unions? Do you have an active installment loan, if not and if you are trying to increase the quality of your credit reports and scores, would you be interested in opening a $500 secured installment loan?

Vantage scores are worthless, mine are over 800 and trust me, my real scores are nowhere near that... the score you are getting from the Discover It and Chase Slate are real FICO scores.

Without knowing your goals yet, I would suggest no more applications until the recent credit card applications are 6 months old, and proceeding at that point only if your FICO scores have improved significantly. I don't think I would wait more than a year though, unless you are trying to get a Mortgage. The only exception might be if you wanted to join Alliant credit union and then get a secured installment loan, since they don't do a HP for a secured loan.

Re: I Could Use Advise

Anonymous — Fri, 27 Nov 2015 21:02:49 GMT

Great questions.

Not sure what my goal is, until your question. Was really trying, at this point, to have decent credit. Most cretainly don't need more than the credit available to me now, for the reason that my finances can handle where I'm at confortably. But, yes, would like the cards I have or would be interested in to be issued by good banks.

I do not have any installment loans. Have considered doing a Credit Union Secured Shares Installment Loan from my local Credit Union, and have talked to them about it

And, they have said when I'm ready just let them know. Their's is a 6 month $300 Secured Loan.

Transunion informed me that the score they gave me was a "Vantage Score:. My Discover It Credit Score says it's 710 (It's noted in the fine print that their information is from TransUnion, although it does say FICO.). My Chase Slate Credit Score says it's 639 (It's noted in the fine print that their information is from Experian) and that would make sense since Experian is the only CRA that shows the Student Loan from 1987).

I guess I figured it out late in life how inportant my credit was. My interntion of waiting the period of time regarding gardening, was to eliminate some of the inquiries.

Not going to buy a house or car anytime in the near or far future. As, you can see I can use all the advise I can use.

If I had to concerete my goals:

Credit Score of 740+

Total Available Credit: $10,000+ (I'm at $6550 now, without the waiting approval of Cap One QS.) I doubt that my limit will be that much, more around $1000?

I truly appreciate you questions, comments, and advise.

Re: I Could Use Advise

Imperfectfuture — Fri, 27 Nov 2015 21:08:58 GMT

Have you tried the CFPB for the student loan? You are good at research. Get the facts from the institution, and file against the CA and EX.

Re: I Could Use Advise

Anonymous — Fri, 27 Nov 2015 21:15:03 GMT

You've done a great job. Kudos! It's crazy what you can get done (dismissed, etc). when you've got the knowledge, huh?

It sounds like it makes sense to wait until you see what happens with the QS. If you've got the money on hand, it probably wouldn't be a bad idea to do the secured installment loan IF your goal is to maximize your score. Other than that though, looks like things are good.

The Slate card isn't good for much besides a balance transfer card. Hstorically it's been really easy to move CLs around with Chase. You might want to move some or all of the Slate CL to the Freedom. Higher CLs beget higher CLs, all else being equal.

The other thing that I never would have thought to do, if not for this place, is to call and ask for APRs to be reduced. It looks like you do a good job paying your cards in full. But in case you ever need to carry a balance, the time to ask to have APRs lowered is when you don't need it. Without going back, I'll assume you're still in a 0% APR with Discover. When it ends, don't be shy to chat them up and ask them to lower your APR and you might get a 0% purchase or a temprorary reduction or something. Again, crazy what they'll do that I never would have dreamt of, if not for this site.

Re: I Could Use Advise

Anonymous — Fri, 27 Nov 2015 21:26:57 GMT

I don't have any real advice but just wanted to affirm what others have stated (getting your report cleaned up) because that's probably one of the bigger headaches (awesome job!!)

I would say though, since you're planning to garden until 2018; and the capital one is currently pending, to go ahead and take another hit on inquiries + apply for an Amex.

Than I would work on asking for CLI (soft, Amex 3xCL will hopefully be in your favor) on the cards you have until you're out of the garden.

But if they're going to take time to fall off and you're anticipating for that by being in the garden, you might as well take more inquiries as they'll fall off around the same time.

Just my humble opinion

Re: I Could Use Advise

Themanwhocan — Fri, 27 Nov 2015 21:38:03 GMT

@Anonymous wrote:
Great questions.

Not sure what my goal is, until your question. Was really trying, at this point, to have decent credit. Most cretainly don't need more than the credit available to me now, for the reason that my finances can handle where I'm at confortably. But, yes, would like the cards I have or would be interested in to be issued by good banks.
I do not have any installment loans. Have considered doing a Credit Union Secured Shares Installment Loan from my local Credit Union, and have talked to them about it
And, they have said when I'm ready just let them know. Their's is a 6 month $300 Secured Loan.

Transunion informed me that the score they gave me was a "Vantage Score:. My Discover It Credit Score says it's 710 (It's noted in the fine print that their information is from TransUnion, although it does say FICO.). My Chase Slate Credit Score says it's 639 (It's noted in the fine print that their information is from Experian) and that would make sense since Experian is the only CRA that shows the Student Loan from 1987).

I guess I figured it out late in life how inportant my credit was. My interntion of waiting the period of time regarding gardening, was to eliminate some of the inquiries.

Not going to buy a house or car anytime in the near or far future. As, you can see I can use all the advise I can use.

If I had to concerete my goals:
Credit Score of 740+
Total Available Credit: $10,000+ (I'm at $6550 now, without the waiting approval of Cap One QS.) I doubt that my limit will be that much, more around $1000?

I truly appreciate you questions, comments, and advise.

Don't take that installment loan. An installment loan is beneficial while it is open, and since that one is only for 6 months, its only good for someone that doesn't have anything on their credit reports. You are beyond that now. If you were to get a secured $500 installment loan from Alliant for 4 years, you could cancel the automatic monthly payments and then pay 90% of the loan off right away, then the next payment that is due is pushed out for over 3 years. That way, you have an open installment loan for 4 years, with the score advantage of the loan reporting as mostly paid, and not have to worry about paying it every month since the next payment isn't due for years... However, you do pay a tiny amount of interest, and this is mainly a technique for when you need a small boost to your score, like if you plan to get a mortgage or a car loan in the future. And it only works with certain credit unions.

It is advantageous to your FICO score to have some credit cards with $10,000+ limits. So if you have cards that allow requesting increases without a hard credit pull, certainly work on getting those limits up. Credit limits can increase quite rapidly when you always pay on time, and when you are requesting increases. Of the cards you have, Discover, and I think Capital One, allow increases without a hard pull.

You might want to try for a CITI card, not a co-branded one, sometime in the future since they provide a monthly free Equifax FICO score. the Citi Double Cash might be a good choice. But get the FICO scores up and the Inquiries aged first.

Inquiries do not affect your FICO score after a year, and they have the most impact when they are less than 6 months old. So having a lot of recent inquiries and recent cards will make it hard to get more approvals, and if you did get approvals, the limits would be very small.

Read this thread about how you can optimize your FICO score just prior to applying for more credit, by manipulating how much money reports on each of your credit cards. http://ficoforums.myfico.com/t5/General-Credit-Topics/How-do-I-play-the-1-9-Utilization-Game-Please-Help/m-p/2471257#M199479

Read this thread to obtain a plan of good credit cards that will give cash back in the spending categories that you use the most. Then you can work on slowly obtaining those cards. http://ficoforums.myfico.com/t5/Credit-Cards/Cash-Back-credit-card-charts/td-p/4004725

Re: I Could Use Advise

Anonymous — Fri, 27 Nov 2015 21:31:51 GMT

I disputed the item with Experian, who claims that a Collection Agency called "Windham" reported the item on Oct 2012. They refused to remove the item stating that Student Loans have no expiration period, and that since a legitimate agency reported it in 2012, that it will remain on file until Feb 2020!

Not sure who waits 25 years to attempt to claim a $671 amount, but seems all that I have researched says that there's not a damn thing I can do about it, but either pay or wait. So, since everyone and their mom in banking and credit pulls from Experian for some reason, I just put a Security Freeze on Experian, and now nobody can pull them.

Windham is the premier collection agency for the Department of Education. So, they are legit. Just the timing seems very strange.

I've researched Windham quite a bit, and with "Private Student Loans" they will work with you and accept much less than owed. But, when it comes to "Federal Student Loans", it is well known that they (by orders of their bosses the FEDS?) won't take a dime less than what's owed. The one thing I could do since they will not work with Federal Student Loan clients, is to file in court and ask the judge for a Slo-Pay Order and send them $5 a month. If the court orders that judgement, they are ordered by the court to remove the item from all CRA's. But, I have no intention to do that. Even though the item has been disputed, and I have received validation of the debt, and Experian has refused the removal, I have never so much as received a phone call from Windham. Funny! You'd think that if a CA puts a debt on your report, that they'd call you about it, but nothing but crickets.

I've had no issues getting the cards I want, so since I have no intention of obtaining any more credit for at least a year or more, I'll see where it goes.

Thank you for repsonding.

Re: I Could Use Advise

Anonymous — Fri, 27 Nov 2015 21:39:55 GMT

I applied for a Citi Double Cash card and was denied. Haven't received the letter as to why yet. They pulled Experian, and then Equifax. I know that the Experian with that 1987 Student Loan was the reason for denial, I'll bet. Equifax score is 697, and Experian is 639!

I didn't call the recon line either. Just took the hit, and moved to the Chase Slate which was instanstly approved for 2500, 25 minutes later. Go figure. But I do have a Chase Freedom with $165 balance and PIF for 5 months.

The longer installment loan sounds like the way to go. Your explanation makes it a good credit score move.

Re: I Could Use Advise

Themanwhocan — Fri, 27 Nov 2015 21:51:54 GMT

Re: I Could Use Advise

LadyJEsq — Fri, 27 Nov 2015 22:15:45 GMT

Kudos OP!! As they used to always say, knowledge is power!

First off, welcome to the Community!

I agree with others here that diversifying your portfolio is key to maximizing your CS. I would go for some type of installment loan and maybe a couple more CCs. From what I've read they generally want more than 10 accounts for maximum scoring purposes, and as many as 21 is believed to be best. I added 5 accounts, bringing my total to about 14, and my scores went up drastically. I also agree with the poster about filing a complaint with the CFPB against both the CA and EX for the old student loan debt. They generally work very quickly and can get things cleared short and sweet. You'll be surprised what removal of one CO can due to your score. I had one removed recently and my scores shot up 40t points.

To get you started:

http://www.consumerfinance.gov/complaint/

Re: I Could Use Advise

LadyJEsq — Fri, 27 Nov 2015 22:45:56 GMT

@Anonymous wrote:
I applied for a Citi Double Cash card and was denied. Haven't received the letter as to why yet. They pulled Experian, and then Equifax. I know that the Experian with that 1987 Student Loan was the reason for denial, I'll bet. Equifax score is 697, and Experian is 639!

I didn't call the recon line either. Just took the hit, and moved to the Chase Slate which was instanstly approved for 2500, 25 minutes later. Go figure. But I do have a Chase Freedom with $165 balance and PIF for 5 months.

The longer installment loan sounds like the way to go. Your explanation makes it a good credit score move.

Citi likes to pull two CR generally, and for me it was EX and EQ. With your EX CR frozen, that's probably the reason for the denial. I would definitely recon this denial, and suspect you'll have pretty good chances. You only have 30 days before your CR is deleted from their network, so I would work fast. You took one HP for it, so why not fight for it? And as I said, I think your chance of reversing the denial is good.

Re: I Could Use Advise

Imperfectfuture — Fri, 27 Nov 2015 22:49:39 GMT

@Anonymous wrote:
I disputed the item with Experian, who claims that a Collection Agency called "Windham" reported the item on Oct 2012. They refused to remove the item stating that Student Loans have no expiration period, and that since a legitimate agency reported it in 2012, that it will remain on file until Feb 2020!

Not sure who waits 25 years to attempt to claim a $671 amount, but seems all that I have researched says that there's not a damn thing I can do about it, but either pay or wait. So, since everyone and their mom in banking and credit pulls from Experian for some reason, I just put a Security Freeze on Experian, and now nobody can pull them.

Windham is the premier collection agency for the Department of Education. So, they are legit. Just the timing seems very strange.

I've researched Windham quite a bit, and with "Private Student Loans" they will work with you and accept much less than owed. But, when it comes to "Federal Student Loans", it is well known that they (by orders of their bosses the FEDS?) won't take a dime less than what's owed. The one thing I could do since they will not work with Federal Student Loan clients, is to file in court and ask the judge for a Slo-Pay Order and send them $5 a month. If the court orders that judgement, they are ordered by the court to remove the item from all CRA's. But, I have no intention to do that. Even though the item has been disputed, and I have received validation of the debt, and Experian has refused the removal, I have never so much as received a phone call from Windham. Funny! You'd think that if a CA puts a debt on your report, that they'd call you about it, but nothing but crickets.

I've had no issues getting the cards I want, so since I have no intention of obtaining any more credit for at least a year or more, I'll see where it goes.

Thank you for repsonding.

No letter from collection agency is an FDCPA violation. Why not pay the 671? To the school. I would contact an attorney, if they have not made attempts to collect. With persistence, you can get that off in three months. By initiating BBB complaints and cfpb complaints, you will likely get it gone (especially if you pay). If they really wanted, they can garnish anything, I have been through this. Since they are not going through these steps, I will give you a little experience.

The loan was from 1978, 500. In the 1990's I called the school. Since student loans had risen so much, they decided to close the account. I am pretty sure you can get this off. When they close, they also take it off credit reports. If they don't, claim it is beyond the reporting time period. Much more research for you to do. Experian will and has faced fines for not being thorough in researching disputes. Take all this info, and start googling.

Re: I Could Use Advise

Anonymous — Fri, 27 Nov 2015 23:54:17 GMT

Just got off the phone with Citi Recon. The girl told me that the reason for the denial was that I just don't have enough time in my credit history yet. She said everything else was ok, and nothing derogatory was in my Equifax report. She said they pulled Equifax. She said just let some time go by, and apply again in May, and she said there shouldn't be issue with them approving at that time, should everything be the same.

She was very nice and took time to look at the app and report, but the time was something the system will not allow her to over-ride at this time.

I'll wait until 2017 to apply for anything else.

Re: I Could Use Advise

LadyJEsq — Sat, 28 Nov 2015 00:48:32 GMT

@Anonymous wrote:
Just got off the phone with Citi Recon. The girl told me that the reason for the denial was that I just don't have enough time in my credit history yet. She said everything else was ok, and nothing derogatory was in my Equifax report. She said they pulled Equifax. She said just let some time go by, and apply again in May, and she said there shouldn't be issue with them approving at that time, should everything be the same.

She was very nice and took time to look at the app and report, but the time was something the system will not allow her to over-ride at this time.

I'll wait until 2017 to apply for anything else.

Given that's the only reason, I would contact the EO's office and see what they can do. You have almost a year's worth of history.

Re: I Could Use Advise

Anonymous — Sat, 28 Nov 2015 02:31:00 GMT

How do I do that? I can't find the number to call. Would you know?

Re: I Could Use Advise

SouthJamaica — Sat, 28 Nov 2015 02:52:18 GMT

@Anonymous wrote:
This is more looking for affirmation that I'm on the right track, and doing the right thing(s).

I had terrible credit a year ago. There was a Federal Tax Lien from 1995 for $13,000, (4) different collecton accounts - all medical related, (1) Public Record (tax lien), and that was about it.
I started by seeing what I could do about the FTL first. By reseacrhing tax code, I found out that according to IRC 6502 and IRC 6502(a) that as long I did not enter into any "Offer in Compromise", "Installment Payment Agreement" or any other agreement with the IRS, that they only have 10 years to collect that tax debt once assessed in their system. So, I wrote a letter to the IRS stating their IRC 6502 & IRC 6502(a) wording, and their response couldn't have been more surprising. The IRS verified that what I had written was 100% correct. After, a request for a Removal of Federal Tax Lien was sent to them, I got a notice back stating that I owed $0, and that the FTL was no longer valid and was automatically withdrawn. Wow, was I shocked to learn that. Knowledge is power.

I took the IRS Notice of Release/Withdrawl of Federal Tax Lien to the County Couthouse in my city, and went ot the Clerk's Office, showed them my documentation, and they removed the notice from their Public Record system. This whole process took about 2-3 months of calls, writing letters, and going to the courthouse.

Then, I tackled the Collection Accounts. 2 were from the same Collection Agency, so I called them. The guy on the phone (Michael) was as nice and professional as could be (they were an attorney firm), and I explained my credit situtation and my financial situation. The total for 2 bills they had for me was only $463. I was shocked when he said that they would settle the debt for $165! To be up front, I live on a very small private pension, and there isn't much more to get out of me. He said that once they had the money, they would take the item(s) off my credit report. I sent them a Money Order, and about a week later, the items were removed. Again, was I shocked and happy. I called hiim back and thanked him for keeping his word.

That left the other 2. Had a bit harder time with these. So, I found out about the SOL in my State in regards to Medical Bills. That SOL in my State is 3 years. I then investigated the authenticity of the Colection Aggency itself, and found that they had numerous complaints and unscupulous practices. So, I disputed with the CRA's on those premises and that they were not allowed to collect these accounts. Just thought it might work. Well, it did. They removed them.

That cleaned my report up. Here's where I could use advise or affirmnation or what to do next:

In Januaury 2015, I applied for a Secured Capital One Platinum Card, was approved and I put a $300 deposit. In April, I applied for a Chase Freedom Card, and was instantly approved for $1200. In May, I applied for a Discover It Card, and was instantly approved for $1250.
In August 2015 Capital One gave me an automatic CLI of $300 on my Secured Card for a CL of $600. On November 6, 2015, I went on-line to Discover It and asked for a CLI. They did a SP and gave me a $1000 CLI for a CL of $2250. On November 25, I appplied for a Chase Slate Card and was instantly approved for $2500. Same day I applied for a Capital One Quicksilver Master Card, and they said "need further investigation". So, I called the Recon number, and they said that since I put a Credit Freeze on Experian (due to another unscruplous collection agency trying to collect on a 1987 Student Loan Balance of $671!, and Experian will not remove that item, so I froze Experian from being pulled), that they needed me to verify my Driver License, Social Security Card, and my Bank Statement, which I immediately faxed over to them. The representative said that once my verification gets into the system, that it will be 24-48 hours before (his words - it shows up in my account). I took that as if they were going to approve me, but we will have to wait and see. I called bacl today to verify they received my fax, and was told it could take up to 3 weeks to get into the system. And, they said they were extremely busy with the holidays.

So, that's the extent of my currenct credit building/chasing venture. As it stands today, my Transunion Score is 737- they use a Vantage Score Now, my Equifax Score is 697, and my Experian Score is 639* due to that 1987 Student Loan that they refuse to remove. Other than that Student loan, there is nothing but good on my report(s).

My plan from here today on, is to Garden, untli January 2018.

Captial One Secure Card Balance: $16
Chase Freedom Card Balance: $165
Discover It Card Balance: $286 (just paid my car insurance in full. Due to better credit my premium went from $418 down to $286 for 6 months!)
Chase Slate Balance: $0
And if approved for Capital One Quicksilver Balance: $0

So, from you folk's experience and knowledge, am I on the right track? Is my Gardening plan correct and efficient? I know I have too many inquiries now, but had to do that to get the cards and rebuild the credit. Thus, why no more pulls for 2 years, at minimum. For Inquiry sake: TU 6, EQ 7, EX 8.

Thank you all ahead to time for your repsonses. I tried to include all information to get nformed advise. Thanks again!

I think you've done some great things, but may be operating under a misconception about your credit report.

Even when a lien is satisfied, or released, it may still show up on your report for a long long time.

You're right to 'garden'. You have enough credit cards for now. As to how long to garden, probably a year. And then longer if you don't need any more cards.

I would suggest hiring Lexington Law; they will help to get negative things actually removed from your credit reports.

As to your present credit cards, my advice is to pay them down to zero, or to very low balances, even prior to the statement cuts. And do that every month.

Re: I Could Use Advise

Anonymous — Sat, 28 Nov 2015 03:27:40 GMT

No the gardening plan is not right for you with a 737 score.

You should have lots and lots of usage on your credit and do PIF ? just leaving less than 10% balances do not give you CLI's. I learned it the hard way

Secondly, why not have Airline/Barclay/Cards? citi/barclays/ GM BuyPower and have usage and PIF. not ever recommending carrying a balance. but today is when you have all the cards while the credit score remains in the 700's and PIF.

This is no time to be in the garden. You aint seen nothing yet

Re: I Could Use Advise

Anonymous — Sat, 28 Nov 2015 03:58:37 GMT

The reason I don't have more cards is the simple fact that, as I've been told by Citi Recon and Barclay's is that my length of history is less than a year. Whether that is incorrect, wrong, or misleading it's what I was told when I asked for reconsideration. They said everyting else looked fine, and I was on course. Citi specifically told me to re-apply in May and that they would have no problem approving me, pending that things were still as they are today.

The other reason is that I get a Private Pension and it's not that much, so my reported income isn't as much as I make. Being a musician I get paid a lot in cash. There's no way to prove that income, and it reduces my financial report, so to speak.

Things are going very well. In only 10 months, I've went from no cards and a 520 credit score, to 5 cards and an over 700 score.

The inquiries are building now, and that's why I was thinking of laying low for the time being.

Thanks for your response, and currecntly I do have on the stove a American Express (IBlue Everyday) app, who didn't deny me but says "pending". So who knows?

Also, Capital One Quicksilver had me fax over my DL/SS/Bank Statement (for address not financials), and said it may take 3 weeks to get everything in the system, so I may have 2 more approvals. I plan to call Citi EO and since I took the hit, I;m gonna go to bat to defend my short history to get an approval.

Yeah, I do see what you mean by "you ain;t seen nothing yet".

Have to love the great advise and comments, I may not agree with all of them, but I'm still greatful for the insight and knowledge of everyone on the site.

Re: I Could Use Advise

Imperfectfuture — Sat, 28 Nov 2015 04:06:47 GMT

Forgot. Did you unfreeze exp? Amex is exp only puller. If you did not unfreeze, it's a no go.