topic Re: Calling all CC experts, calling all CC experts... in Credit Cards

Calling all CC experts, calling all CC experts...

Anonymous — Wed, 22 Dec 2010 22:39:42 GMT

OK, so here I am wondering what I can get with my current numbers?!

Current Info: 740 Experian (thru Experian)

690 Equfax Fico

676 Transunion Fico

-- Overall Credit Util a bit high at 40-50% (just becuase I contantly use my card)

-- One Baddie, $450.00 unpaid medical collection from 5 yrs ago. Only shows up on EQ & TU (Have tried to PFD with no luck)

-- One open credit card account (8 yrs old, $1500.00 credit limit/ $700.00 balance)

-- One recently closed credit card account (14 yrs old 2000.00 limit / $400.00 balance)

-- Zero inquiries

Now to the questions...

1. Are my numbers strong enough for a Barclays, Chase, Citi or the like? Or is a Cap One type card in my future?

2. Are my numbers strong enough for a Nordstrom store card to upgrade to a visa at a later time?

3. Can I get even get a new credit card with an unpaid medical collection sitting on my report?? Or is there a Experian only puller I need to try first??

I don't want to waste any inquiries. I don't want to go "app spree-ing". I just want a new card that will add to my credit profile and grow as I go.

ANY suggestions are most welcome -- I have certainly looked thru the forums and appreciate allll the many terrific comments for others. Looking for a direction to pursue here!

Re: Calling all CC experts, calling all CC experts...

Smug — Thu, 23 Dec 2010 00:00:31 GMT

You will get a cap1for sure, and in a month or two get a second one.

Re: Calling all CC experts, calling all CC experts...

Anonymous — Thu, 23 Dec 2010 01:16:46 GMT

@Anonymous wrote:
OK, so here I am wondering what I can get with my current numbers?!

Current Info: 740 Experian (thru Experian)
690 Equfax Fico
676 Transunion Fico
-- Overall Credit Util a bit high at 40-50% (just becuase I contantly use my card)
-- One Baddie, $450.00 unpaid medical collection from 5 yrs ago. Only shows up on EQ & TU (Have tried to PFD with no luck)
-- One open credit card account (8 yrs old, $1500.00 credit limit/ $700.00 balance)
-- One recently closed credit card account (14 yrs old 2000.00 limit / $400.00 balance)
-- Zero inquiries

Now to the questions...

1. Are my numbers strong enough for a Barclays, Chase, Citi or the like? Or is a Cap One type card in my future?
2. Are my numbers strong enough for a Nordstrom store card to upgrade to a visa at a later time?
3. Can I get even get a new credit card with an unpaid medical collection sitting on my report?? Or is there a Experian only puller I need to try first??

I don't want to waste any inquiries. I don't want to go "app spree-ing". I just want a new card that will add to my credit profile and grow as I go.

ANY suggestions are most welcome -- I have certainly looked thru the forums and appreciate allll the many terrific comments for others. Looking for a direction to pursue here!

First, might I ask, why did you close an account that was 14 years old? That had to hurt your AAOA.

Also, you should be aware that the Experian score you have, is not the same score that card issuers will see, you cannot get your real EX score through EX, only through a lender or that one CU.

Anyways, with the unpaid collection it's going to be a bit of a toss up, though I suppose you could app for 1-2 cards now, and then just wait 2 years so all the inqs are gone and the baddie falls off and then apply for some better cards. You also should probably get the balance on the closed card paid off.

But either way, don't make the same mistake I made and apply with high utilization, you may still get approved, but it's going to hurt the cl and interest rates you get. All you need to do is get the card paid down to 20% utilization 1-2 days before your statement is due, and then wait a day after to make sure that it got reported that way (then you can spend on your card again as you please), and then a few days later your utilization will drop down and your scores should increase a good 5-20 points.

Then you have a month to app for whatever you want, and hopefully by the time your balance shows back up on your CR, you will have a new line of credit to keep the util down.

As for the cards, I'm not sure how much help it will really be, but I just got a Citi Forward card myself.

I don't see the Citi Inquiry on my EQ report, so I'm guessing they pulled either EX or TU, not really sure which.

At the time of applying, I had 1 card, a USAA Platinum card, that was 4 years old (I also have three 4 year old student loans). I had an $800 balance on a $1000CL, My EQ Fico was 713 at the time, and I had 1 inquiry (for an appartment credit check)

I got approved for $2300.

I'm just not sure how you would fare with a collection.

Re: Calling all CC experts, calling all CC experts...

Anonymous — Thu, 23 Dec 2010 02:31:29 GMT

@Anonymous wrote:
First, might I ask, why did you close an account that was 14 years old? That had to hurt your AAOA.

Also, you should be aware that the Experian score you have, is not the same score that card issuers will see, you cannot get your real EX score through EX, only through a lender or that one CU.

Anyways, with the unpaid collection it's going to be a bit of a toss up, though I suppose you could app for 1-2 cards now, and then just wait 2 years so all the inqs are gone and the baddie falls off and then apply for some better cards. You also should probably get the balance on the closed card paid off.

But either way, don't make the same mistake I made and apply with high utilization, you may still get approved, but it's going to hurt the cl and interest rates you get. All you need to do is get the card paid down to 20% utilization 1-2 days before your statement is due, and then wait a day after to make sure that it got reported that way (then you can spend on your card again as you please), and then a few days later your utilization will drop down and your scores should increase a good 5-20 points.

Then you have a month to app for whatever you want, and hopefully by the time your balance shows back up on your CR, you will have a new line of credit to keep the util down.

As for the cards, I'm not sure how much help it will really be, but I just got a Citi Forward card myself.

I don't see the Citi Inquiry on my EQ report, so I'm guessing they pulled either EX or TU, not really sure which.

At the time of applying, I had 1 card, a USAA Platinum card, that was 4 years old (I also have three 4 year old student loans). I had an $800 balance on a $1000CL, My EQ Fico was 713 at the time, and I had 1 inquiry (for an appartment credit check)

I got approved for $2300.

I'm just not sure how you would fare with a collection.

Closing any card will never affect your AAoA. It will keep reporting for generally 10 years after closing.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: Calling all CC experts, calling all CC experts...

Anonymous — Thu, 23 Dec 2010 05:03:27 GMT

In regards to the closed credit card account....

It was thru FNBO. I had a credit card that was folded into their company. And, after a number of years under their banner (14 yrs total with a PERFECT credit history), they somehow decided they were not going to continue that partiular credit card any longer and closed allllll accounts for everyone that had it!

I was beyond irate at the whole thing! Not too mention they closed without even so much as a notice! And no offer to accept or apply for another thru their company. It was ridiculous!!

So, now onto a new card!! I would like to think I have a chance for something with the numbers above. If it means waiting a month in order to pay down the Util, then fine. I would just like to know where to send my first App with Zero inq!?! And whether, and how much, that unpaid collecton will hurt me?

Re: Calling all CC experts, calling all CC experts...

RammaCredit — Thu, 23 Dec 2010 05:25:46 GMT

AMEXXXXXX! thay will love u and BT your old card. Also they only pull XPN

If you dont want amex....

Credit Unions usually for the most part pull Experian. They have guidlines that tier people to the interest rate so with an EX score like that I would try the local CU. Do not app Penfed or Alliant they will probably deny since you have high util and too few accounts.

Let me know what happens!

Re: Calling all CC experts, calling all CC experts...

Anonymous — Thu, 23 Dec 2010 11:08:27 GMT

@Anonymous wrote:
In regards to the closed credit card account....

It was thru FNBO. I had a credit card that was folded into their company. And, after a number of years under their banner (14 yrs total with a PERFECT credit history), they somehow decided they were not going to continue that partiular credit card any longer and closed allllll accounts for everyone that had it!

I was beyond irate at the whole thing! Not too mention they closed without even so much as a notice! And no offer to accept or apply for another thru their company. It was ridiculous!!

So, now onto a new card!! I would like to think I have a chance for something with the numbers above. If it means waiting a month in order to pay down the Util, then fine. I would just like to know where to send my first App with Zero inq!?! And whether, and how much, that unpaid collecton will hurt me?

Paid and unpaid collections are scored the same. How much it hurts you depends on several things. How recent it is; if any other derogatories are on your reports, how clean your credit file is overall.

Re: Calling all CC experts, calling all CC experts...

Anonymous — Thu, 23 Dec 2010 11:47:13 GMT

@RammaCredit wrote:
AMEXXXXXX! thay will love u and BT your old card. Also they only pull XPN
If you dont want amex....

Credit Unions usually for the most part pull Experian. They have guidlines that tier people to the interest rate so with an EX score like that I would try the local CU. Do not app Penfed or Alliant they will probably deny since you have high util and too few accounts.

Let me know what happens!

Just a little FYI--

Amex will also soft (and occasionally hard pull) your other reports and see the serious derog (collection) and possibly close your account if you get one in the first place. Further, I wouldn't rely on a FAKO Exp score to determine Amex eligibility. Amex uses there own internal risk scoring, and high utilization can be an app killer.

This is the first that I've heard of that credit unions *usually* pull Experian.

Re: Calling all CC experts, calling all CC experts...

Anonymous — Thu, 23 Dec 2010 12:37:26 GMT

@RammaCredit wrote:
AMEXXXXXX! thay will love u and BT your old card. Also they only pull XPN
If you dont want amex....

Credit Unions usually for the most part pull Experian. They have guidlines that tier people to the interest rate so with an EX score like that I would try the local CU. Do not app Penfed or Alliant they will probably deny since you have high util and too few accounts.

Let me know what happens!

May I ask what source you used to come to that conclusion?

Re: Calling all CC experts, calling all CC experts...

HindSight_20_20 — Thu, 23 Dec 2010 12:45:05 GMT

@Anonymous wrote:
@RammaCredit wrote:
AMEXXXXXX! thay will love u and BT your old card. Also they only pull XPN
If you dont want amex....

Credit Unions usually for the most part pull Experian. They have guidlines that tier people to the interest rate so with an EX score like that I would try the local CU. Do not app Penfed or Alliant they will probably deny since you have high util and too few accounts.

Let me know what happens!
May I ask what source you used to come to that conclusion?

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

+1 marineveitvet & lilmirth,

I'm with NFCU, NASA, PCECU, & PENFED (Equifax hit on ALL of them)! EX on one as a soft and hard. "Just sayin' "

Re: Calling all CC experts, calling all CC experts...

Anonymous — Thu, 23 Dec 2010 19:15:16 GMT

I do understand the Credit Unions are an option. Just thinking I might be inline for a Chase, Citi, Barclays type card?! As to the one and only baddie ever on my record, it was a medical bill that slipped by and has haunted me, on two reports, for the last 5 yrs.

Would I be better off trying for a store card, Nordstrom, Macy's or Blomingdales and wait till it generates into a Visa card? I figure with ZERO inquiries and score where it is I should be able to find a card someplace that will grow with me?!

Re: Calling all CC experts, calling all CC experts...

RammaCredit — Sat, 01 Jan 2011 21:52:43 GMT

I opend three loans last month and they all pulled experian. @ Least here in MI. The only ones that pull EQ seems to be the heavy weights like PENfed and Navy Fed. PSECU soft pulled TU for me.

Re: Calling all CC experts, calling all CC experts...

RammaCredit — Sat, 01 Jan 2011 21:55:42 GMT

when I apped AMEx they pulled my EX which was abt 720 credit score @ the time and then they pulled Teletrak(which had some stuff on there that didnt belong to me) so I was denied I will reapp nxt December and hopefully get through. They didnt touch my other two reports.

Re: Calling all CC experts, calling all CC experts...

Anonymous — Sat, 01 Jan 2011 23:30:55 GMT

@RammaCredit wrote:
I opend three loans last month and they all pulled experian. @ Least here in MI. The only ones that pull EQ seems to be the heavy weights like PENfed and Navy Fed. PSECU soft pulled TU for me.

That's key and maybe even there there can be cu's that pull from the other two. You just can't make judgements on all the thousands or so of credit unions out there even if all the ones you dealt with pulled exp. The truth is who knows this guy can be in a different county, state, region.

IME the credit unions i have dealt with use a different CRA for different products for example for ccs one could pull eqfax but for personal loans experian another would be tu for loans and exp for cc's are they all like this i have no idea. Someone else may have experience whereas they pull exp all across the board or did all the products under one inquiry both are different to my experiences.