topic Re: FICO 490 & NOW 740 ;) in Credit Cards

FICO 490 & NOW 740 ;)

Anonymous — Fri, 17 Apr 2009 15:06:31 GMT

Hello All.

First I must say over the last 2 years I've been using MyFico my score has improved from a 490 to now a 740. If it was not for the support that I have had from you guys, this would not be possible.

I'm at the stage were I need to find Prime cards and also explore the idea of an auto loan or mortgage.
Navy FCU seems like the pick of banks seeing I meet the requirements but am not sure what kind of credit limits I will receive since my credit is now only 1.5 years on my EQ CR.

Credit Card:
For the Credit card I Was thinking of going with Navy FCU and want to know if I should try to get any from other banks while i am on a app frenzy.

Auto or Mortgage Loan:
It wont be right away that I plan to get one of these (Maybe Sept), Iut I think I'll need one to give a mix of credit.

Following is my History and scores I would be most grateful if the TEAM could give me some pointers to the best LONG and SHORT range strategy to build a good credit report. I've browsed many web sites to include www.whogavemecredit.com and others before writing to everyone.

Please share any suggestions that could help me and I dont have a problem with taking a short term hit on point to establish LONG TERM PRIME CREDIT.

Date: 4/16/2009

TransUnion 682

BofA- Opened Apr 2008
Orchard- Opened Feb 2008

Equifax 740

BofA- Opened Apr 2008
Orchard- Opened Feb 2008
OLD BANK ACCOUNT- Charged Off + Paid off on Feb 2008

Experian ???

BofA- Opened Apr 2008
Orchard- Opened Feb 2008
Local Bank- Secured Loan Feb 2008 paid off on June 2008
OLD BANK ACCOUNT- Charged Off + Paid off on Feb 2008

Thank you everyone for your assistance.

Re: FICO 490 & NOW 740 ;)

Anonymous — Fri, 17 Apr 2009 15:10:21 GMT

NFCU is a great CU. They pull EQ exclusively, and with a 740, you shouldn't have any problems getting approved for a CC. I believe they look for a 660 or above.

Re: FICO 490 & NOW 740 ;)

Anonymous — Fri, 17 Apr 2009 18:18:56 GMT

National City Pulls Transunion and everyone I know that has a card thru them and that has at least a 700 score started with at least a $7500 CL. My brother just got a $12,000 CL and his scores r all around 750 with high utility.

Re: FICO 490 & NOW 740 ;)

Anonymous — Fri, 17 Apr 2009 19:05:46 GMT

Isnt't National City now PNC?

Re: FICO 490 & NOW 740 ;)

musikklvr — Fri, 17 Apr 2009 19:11:18 GMT

That's Awesome Chuck! Congratulations!! I hope to be there sometime by the end of the year or sooner.

Way to go!

Re: FICO 490 & NOW 740 ;)

Anonymous — Fri, 17 Apr 2009 19:49:52 GMT

Congratulations Chuck, and I'm so glad to see you achieved scores like these with a charge off that recently! That should give a lot of people hope.

Re: FICO 490 & NOW 740 ;)

Anonymous — Fri, 17 Apr 2009 20:41:50 GMT

@Anonymous wrote:
Isnt't National City now PNC?

As of this moment we still have National City banks on every other corner and my statements r coming from National city. I have not seen 1 change since pnc made that purchase. Actually it's a PNC and a National City bank right across the street from each other a few blocks from my house.

Re: FICO 490 & NOW 740 ;)

Anonymous — Sat, 18 Apr 2009 02:17:52 GMT

Mank wrote:
Congratulations Chuck, and I'm so glad to see you achieved scores like these with a charge off that recently! That should give a lot of people hope.
It seems after almost 2 years of credit fixing I still make mistake. hhehee.

Above on my Equifax I listed the charge off when infact it is on TU report.

Thanks to everyone for the support and suggestons, I will look in to this bank like yall said above.

If any one every needs help by all means please send me an PM and I would be willing to share my knowledge.

THANK YOU EVERYONE

Re: FICO 490 & NOW 740 ;)

niecey89 — Sat, 18 Apr 2009 03:30:45 GMT

Congrats. Keep up the good work.

Re: FICO 490 & NOW 740 ;)

haulingthescoreup — Sat, 18 Apr 2009 03:55:23 GMT

chuck_texas wrote:
Above on my Equifax I listed the charge off when infact it is on TU report.

Thanks to everyone for the support and suggestons, I will look in to this bank like y'all said above.

If any one every needs help by all means please send me an PM and I would be willing to share my knowledge.

THANK YOU EVERYONE

Ah, OK, that makes more sense.

Although your EQ is great, many banks will pull additional reports when your credit is very "young." I'd go with Navy for now, and don't forget that they're a source for auto loans as well.

Also, if you're eligible for Navy, are you also eligible for USAA? They recently loosened their requirements, and those who separated from the service in 1996 or later are now also eligible:

# Active duty officers and enlisted personnel.
# Children whose eligible parents have or had a USAA auto or property insurance product.
# National Guard and Selected Reserve officers and enlisted personnel.
# Officer candidates in commissioning programs (Academy, ROTC, OCS/OTS).
# Former military personnel:

* Retired officers and enlisted personnel.
* Former officers and enlisted personnel who separated from the military on or after Jan. 1, 1996.

# Former USAA members who had USAA auto or property insurance.

They're pretty conservative, and they might well pull a second report besides EQ, but if you're eligible, I'd get in with them too. They put a lot of weight on the length of time you're with them, and they will gradually offer you more and more goodies. If you're denied for a card, I'd at least get with them for renter's insurance or savings or a Roth IRA account or something. With time, you'll start getting offers of credit as well.

Message Edited by haulingthescoreup on 04-17-2009 08:55 PM

Re: FICO 490 & NOW 740 ;)

Anonymous — Sat, 18 Apr 2009 14:56:28 GMT

Ah, gotcha. Nevertheless, 680 isn't too shabby with that recent chargeoff either. My boyfriend has a charge off from 10/2007 that I'm reconciled to seeing for the full 7.5 years, so I'm glad good scores are still achievable with this mark on your report. He's almost there!

Re: FICO 490 & NOW 740 ;)

Anonymous — Sun, 19 Apr 2009 01:53:22 GMT

I don't think that I am eligible for USAA because I am just a contractor that supports the warfighters.

Other than NAVY FCU what other prime Cards or CU are good to have? (Capital One, Discover, Amex, ect...)

Also is it advisable to get s store card to help a MIX of credit?

Thank you everyone for helping me.

Re: FICO 490 & NOW 740 ;)

Anonymous — Sun, 19 Apr 2009 15:43:05 GMT

Hi ChuckTexas,

I am new to myfico and I would like to know how you fixed your credit. I am starting to read everything on this site and apply it. This is as best as I can. I have to be honest in that I m not familiar with any of the reports besides EQ. After you pulled your reports and disputed some information what did you do next? I am willing to do the work but I am just not sure what everyone is doing.

Thanks!

soontoeducatedconsumer

Re: FICO 490 & NOW 740 ;)

Anonymous — Sun, 19 Apr 2009 21:49:56 GMT

educatedconsumer - how much reading have you done? Have you pulled your free credit reports? Do you have any CAs on your files, how maxed is your credit card (limit and current balance) etc?

Re: FICO 490 & NOW 740 ;)

Anonymous — Mon, 20 Apr 2009 02:36:14 GMT

educatedconsumer wrote:
Hi ChuckTexas,
I am new to myfico and I would like to know how you fixed your credit. I am starting to read everything on this site and apply it. This is as best as I can. I have to be honest in that I m not familiar with any of the reports besides EQ. After you pulled your reports and disputed some information what did you do next? I am willing to do the work but I am just not sure what everyone is doing.

Thanks!
soontoeducatedconsumer

Try to post your Credit Report building in General Credit Issues

List what baddies are on your report but keep is discrete so that it is private

If you mention a local bank, instead of the name i would write "local bak" that way no on eknows wher eyou are from as this is a PUBLIC form.

List all negitive account and everyone will help.

Pull 3 credit reports (One from each Credit ReportingAgency)

Send me a personal message when yoru done..

One last note. THis will take some time and maybee years. Just a fare warning.

Regards

(edited for one typo only)

Message Edited by Scamp on 04-19-2009 07:36 PM

Re: FICO 490 & NOW 740 ;)

Anonymous — Mon, 20 Apr 2009 04:25:18 GMT

Hi tullz85,

Thanks for your help. I signed up for ScoreWatch from Equifax 10 months ago. I have been taking the recommendations from the site but I stumbled upon this site and realized I should be looking at my other credit reports. I just ordered my report from Transunion which was a mess. I have some cleaning up to do. I attempted to order my report from Experian but I am not able to order them online for free. I had a user name years ago and because I did not remember it I am locked out of the online site.. I have to mail in a request to get a report. I filed Ch7 and it was dismissed in July of 2008. I havent recently opened CC accounts with Cap 1 and Orchard to rebuild. I have a secured card from my CU a month after discharge. I owe 65 of $1500. I also have an auto loan of $8K as of Dec 08.

TU 4/16/09 575

EQ 4/16/09 637

EX FAKO 4/13/09 680

Re: FICO 490 & NOW 740 ;)

Anonymous — Mon, 20 Apr 2009 04:40:35 GMT

Hi Chuck_texas,

I have two of my credit reports. I have one more to pull. Thanks for your help. I am not too concerned with people knowing how bad my credit is I don't have any local banks but thanks for the advice. I am going to check out the forums. I wonder if I can have someone review my report. I am recently coming back from bankruptcy which is a public record but before that I really didn't look at my credit report.

TU 4/16/09 575

EQ 4/16/09 637

EX FAKO 4/13/09 680

Re: FICO 490 & NOW 740 ;)

Anonymous — Mon, 20 Apr 2009 05:07:43 GMT

Great..

Let me know when you post that on the General Form..

look forward to assisting you

Re: FICO 490 & NOW 740 ;)

Anonymous — Wed, 22 Apr 2009 11:19:57 GMT

Any one else have any suggestions about CC cards or Prime banks that will be of intrest to me.

Thanks

Chuck

Re: FICO 490 & NOW 740 ;)

haulingthescoreup — Wed, 22 Apr 2009 11:29:21 GMT

chuck_texas wrote:

Any one else have any suggestions about CC cards or Prime banks that will be of intrest to me.

Thanks

Chuck

What are you looking for?

--rewards
--initial 0% APR on purchases
--low regular APR (in other words, you plan to carry balances)
--ability to BT

and so forth.