topic Re: Whoohoo!!! Instant approval! in Credit Cards

Whoohoo!!! Instant approval!

Anonymous — Fri, 26 Mar 2010 21:23:53 GMT

I've been busting my butt for the last 2 years trying to clean up the credit disaster I caused in college/grad school.

Most of my badies are starting to fall off my CRs and I was able to get rid of a lot of collections including a fairly recent one by PFD in the last few months.

I currently have a Cap1 card that will not move above $500 and an OB one that is at $1100. Both have ridiculous APRs.

Since one of my inqs fell off my TU report last month I decided to try today for an Apple/Barclays Visa rewards card to put my new iPad purchase on. I held my breath but didn't expect much if anything since my TU was 665 as of last week with 2 CO and one collection still on it.

I got an instant approval for $2799!!!!!!!!!

I'll put the iPad on it and pay it immediately off and then can put my business trip that I will get reimbursed for on it. I'll take a hit this month and next for that with my CS but will pay it completely as soon as those reimbursements come through and will earn some free iTunes gift cards.

I am so excited I could cry that I finally have a solid Visa card.

Re: Whoohoo!!! Instant approval!

Anonymous — Fri, 26 Mar 2010 21:15:30 GMT

Congrats!!!!! Keep up the good work

Re: Whoohoo!!! Instant approval!

orl2185 — Fri, 26 Mar 2010 22:11:49 GMT

TY for sharing your great story. Supa Congrats

Re: Whoohoo!!! Instant approval!

Anonymous — Fri, 26 Mar 2010 22:28:56 GMT

@Anonymous wrote:
I've been busting my butt for the last 2 years trying to clean up the credit disaster I caused in college/grad school.
Most of my badies are starting to fall off my CRs and I was able to get rid of a lot of collections including a fairly recent one by PFD in the last few months.
I currently have a Cap1 card that will not move above $500 and an OB one that is at $1100. Both have ridiculous APRs.

Since one of my inqs fell off my TU report last month I decided to try today for an Apple/Barclays Visa rewards card to put my new iPad purchase on. I held my breath but didn't expect much if anything since my TU was 665 as of last week with 2 CO and one collection still on it.

I got an instant approval for $2799!!!!!!!!!

I'll put the iPad on it and pay it immediately off and then can put my business trip that I will get reimbursed for on it. I'll take a hit this month and next for that with my CS but will pay it completely as soon as those reimbursements come through and will earn some free iTunes gift cards.

I am so excited I could cry that I finally have a solid Visa card.

Which visa did you apply for and what was your scores like if you dont mind my asking....

BTW...CONGRATS!!!!!!!!!!!!!!!!!!!!!

Re: Whoohoo!!! Instant approval!

Anonymous — Fri, 26 Mar 2010 23:02:47 GMT

@Anonymous wrote:

Which visa did you apply for and what was your scores like if you dont mind my asking....

BTW...CONGRATS!!!!!!!!!!!!!!!!!!!!!

It was the Barclaycard with iTunes Rewards Visa (the black one). I don't see it on their site but you can link off of the Apple site. http://store.apple.com/us/instant_credit

It gives 1 pt per dollar for all purchases and 2 pts per dollar on all Apple and iTunes purchases. Every 2500 pts they send you a $25 iTunes gift card.

My TU was 665 last week and my EX was 675 as of late Jan.

Re: Whoohoo!!! Instant approval!

Anonymous — Sat, 27 Mar 2010 08:10:12 GMT

congrats on rebuilding your credit! happy for you. hopefully one day i can write about your situation one day. still working on it!

Re: Whoohoo!!! Instant approval!

Anonymous — Sat, 27 Mar 2010 12:24:09 GMT

Congrats!!! It's nice to be rewarded with better cards after working hard to make up for past mistakes. Good job!

Re: Whoohoo!!! Instant approval!

ngerasimatos — Sun, 28 Mar 2010 00:40:50 GMT

Do you know who they pulled? Whats your DTI?

Re: Whoohoo!!! Instant approval!

haulingthescoreup — Sun, 28 Mar 2010 02:43:33 GMT

@ngerasimatos wrote:

Do you know who they pulled? Whats your DTI?

Just to avoid any confusion for new members, DTI (debt to income) is not particularly looked at for CC's, although lenders are now required to determine if one can handle the payments, and they do ask what your income is.

The ratio that is usually looked at for CC's is total reported balances owed to total credit limits, aka revolving utilization or "util."

Debt to income is generally looked at for loans, especially mortgages.

Re: Whoohoo!!! Instant approval!

ngerasimatos — Sun, 28 Mar 2010 02:47:23 GMT

Ive noticed more and more as of late that DTI and UTIL on revolving credit are playing more into the mathematical equation for lenders when they perform manual reviews (which is far more often than in the past).

Not to hijack your thread or anything, but did anyone read that 4 more banks failed this week? Thats intense.

Re: Whoohoo!!! Instant approval!

Anonymous — Sun, 28 Mar 2010 03:24:45 GMT

@ngerasimatos wrote:
Do you know who they pulled? Whats your DTI?

They pulled TU.

I never could figure out the DTi, or more specifically what exactly is included in the debt portion--is it only active accounts, or does it include COs and student loans in deferment? If it's the latter then my DTI is about 500%

My current utilization on active accounts was ~10% when this was pulled.

Re: Whoohoo!!! Instant approval!

Anonymous — Sat, 03 Apr 2010 13:54:56 GMT

@Anonymous wrote:

@Anonymous wrote:

Which visa did you apply for and what was your scores like if you dont mind my asking....

BTW...CONGRATS!!!!!!!!!!!!!!!!!!!!!

It was the Barclaycard with iTunes Rewards Visa (the black one). I don't see it on their site but you can link off of the Apple site. http://store.apple.com/us/instant_credit
It gives 1 pt per dollar for all purchases and 2 pts per dollar on all Apple and iTunes purchases. Every 2500 pts they send you a $25 iTunes gift card.

My TU was 665 last week and my EX was 675 as of late Jan.

Thanks, I will look into it...

Re: Whoohoo!!! Instant approval!

Breakthecycle2 — Mon, 05 Apr 2010 00:29:37 GMT

Not to be a jerk, but do yourself a favor and don't buy that iPad. If you are set on getting a I-something, get t he phone. The ipad is oversize iphone, that doesn't connect to wifi, doesn't make calls or anything worthwhile.