topic Re: Couple Questions in Credit Cards

Couple Questions

JK21 — Sat, 14 Jan 2012 02:56:26 GMT

I have a Capital One secured card for 11 months i started out with a 200 limit, in July they gave me a $100 credit increase? My Fico is 614 my Credit score is 633 i think thats how i understand it. Can you guys give me any tips or to get a better card?

Also have a Orchard bank card that has a 320 limit for 5 months, Do they give credit increases?

Re: Couple Questions

Anonymous — Sat, 14 Jan 2012 03:07:27 GMT

@JK21 wrote:
I have a Capital One secured card for 11 months i started out with a 200 limit, in July they gave me a $100 credit increase? My Fico is 614 my Credit score is 633 i think thats how i understand it. Can you guys give me any tips or to get a better card?

Also have a Orchard bank card that has a 320 limit for 5 months, Do they give credit increases?

You mention two scores...is one EQ and the other TU?

how does your credit report look? do you have baddies? lates in the last 2 years?

Re: Couple Questions

JK21 — Sat, 14 Jan 2012 03:12:13 GMT

My fico scores for Trans and EQ are both 614, I have 2 deliugency accounts but there are 4 or 5 years old. I started to build up my credit the last year. I was stupid and young and I messed up my credit. Now i am trying to regain it.

Re: Couple Questions

Creditaddict — Sat, 14 Jan 2012 03:23:42 GMT

6 months ask orchard for CLI

I would apply for Barclay Apple... probably declined but great recon with back door number and good chance of small approval which is way better then Cap1 and Orchard.

Re: Couple Questions

JK21 — Sat, 14 Jan 2012 03:25:46 GMT

Can you please explain "recon"? new to all of this and this community board is awesome.

Re: Couple Questions

Anonymous — Sat, 14 Jan 2012 03:34:26 GMT

I just did a recon with Barclay, basically if you get denied you can call them up and ask them to manually review your credit and reconsider there decision. They'll ask a couple questions about any baddies you might have. I was turned down then after calling got approved for $2500 after a two minute phone call.

Re: Couple Questions

JK21 — Sat, 14 Jan 2012 03:35:14 GMT

How do I get a backdoor number?

Re: Couple Questions

Anonymous — Sat, 14 Jan 2012 03:36:48 GMT

Oh yeah and I also had a orchard bank cc with 300cl, they will do a soft pull and give a cli. They offered me 100 which I think is pretty standard on the low limit cards. I canceled my card as wasn't growing with the rest of my profile but got me started for the last three years.

Re: Couple Questions

Anonymous — Sat, 14 Jan 2012 03:37:53 GMT

@JK21 wrote:
How do I get a backdoor number?

Barclays: 866-408-4064 (Credit Analyst)

Re: Couple Questions

MarineVietVet — Sat, 14 Jan 2012 03:39:19 GMT

@JK21 wrote:
Can you please explain "recon"? new to all of this and this community board is awesome.

Hi there.

Recon stands for reconsideration when you call the lender and plead your case after a credit denial. Here is a list of Abbreviations we use around here.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

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

Re: Couple Questions

MarineVietVet — Sat, 14 Jan 2012 03:39:58 GMT

@JK21 wrote:
How do I get a backdoor number?

Backdoor Numbers

Re: Couple Questions

Anonymous — Sat, 14 Jan 2012 03:49:35 GMT

@Creditaddict wrote:
6 months ask orchard for CLI
I would apply for Barclay Apple... probably declined but great recon with back door number and good chance of small approval which is way better then Cap1 and Orchard.

I agree with this 100%

Re: Couple Questions

JK21 — Sat, 14 Jan 2012 03:51:21 GMT

I will really like a 3rd card to keep building and then hold off on applying for others. IS there any other ones that might be able to get be approved or have a good chance at?

Re: Couple Questions

Anonymous — Sat, 14 Jan 2012 04:23:26 GMT

@JK21 wrote:
I will really like a 3rd card to keep building and then hold off on applying for others. IS there any other ones that might be able to get be approved or have a good chance at?

If you want to improve your chances of being approved for a Barclay Card or even a Walmart Card I would get your score up to 650 or higher. A good way to get there soon is to have a family member add you as an authorize user to a high limit credit card with 5+ year of history. Try to be an AU on an Amex, Visa, MC, and Discover. In 30 days or less you could see a 20-30 point increase

Re: Couple Questions

Anonymous — Sat, 14 Jan 2012 14:44:36 GMT

@Anonymous wrote:
@JK21 wrote:
I will really like a 3rd card to keep building and then hold off on applying for others. IS there any other ones that might be able to get be approved or have a good chance at?
If you want to improve your chances of being approved for a Barclay Card or even a Walmart Card I would get your score up to 650 or higher. A good way to get there soon is to have a family member add you as an authorize user to a high limit credit card with 5+ year of history. Try to be an AU on an Amex, Visa, MC, and Discover. In 30 days or less you could see a 20-30 point increase

Very true, however, some or most CCC's will not take AU accounts into consideration when determining your creditworthiness, it's a YMMV type of thing.

Becoming an AU on a Family Members card can be a double edged sword, it can def help you with AAoA's and util, if the card is 5 or 7 years older than any of your own CC's and has a nice CL, but if for some reason the primary cardholder misses a payment or something, it will also drag your scores down as well, and will lead to derogs on your credit reports.

I'd make sure that your Family Member or who ever will add you as an AU is very "Credit" responsible, you do not want to pay for someone elses mistakes should they default in some way. (When I say pay, I don't mean fork over $$, I mean pay by your credit taking a dive).

Best of Luck!

Re: Couple Questions

Anonymous — Sat, 14 Jan 2012 15:37:53 GMT

@JK21 wrote:
Can you please explain "recon"? new to all of this and this community board is awesome.

welcome to the forums,, i would suggest u start reading a lot more,, but that aside u will get a lot of info here.

Re: Couple Questions

LS2982 — Sat, 14 Jan 2012 15:57:45 GMT

@JK21 wrote:
I have a Capital One secured card for 11 months i started out with a 200 limit, in July they gave me a $100 credit increase? My Fico is 614 my Credit score is 633 i think thats how i understand it. Can you guys give me any tips or to get a better card?

Also have a Orchard bank card that has a 320 limit for 5 months, Do they give credit increases?

You may want to try for a unsecured Cap1 rewards card. If you give it 6 more months I think you also may have a shot at a AMEX charge card. What does your EX file look like?