topic Re: Need Help With CC's in Credit Cards

Need Help With CC's

Anonymous — Mon, 27 Aug 2012 23:45:25 GMT

Based on a TU 666 score. ULI 35% and 3 current cap 1 with limits of 500,750,750 and 34 inqs ( 20 of them fall off 11/2012) and only 2 ings total in the last 12 months based on myfico. Oh and also I have 7 Collections accts which 4 of the 7 fall off in Nov of 2012. Also income is 50k

1.) What other cards can I apply for and get paid for so I can get rid of cap 1

2.) What are my chances of approval?

3.) What should I do in general to help the my situation as a whole?

Re: Need Help With CC's

SpiceIslander — Mon, 27 Aug 2012 23:52:01 GMT

You mentioned that 4 of the collections would fall off in November....what about the others? I think taking care of those should be a bigger priority than applying for new credit. Even when 20 of your inqs fall off in November, you'll still have 14 left. That's quite a bit in addition to the collections. Take your time and work with the cards you have. Keep your util low and let them age. Time & patience will do the rest.

Re: Need Help With CC's

jamesdwi — Mon, 27 Aug 2012 23:54:52 GMT

how old are the cap1 cards, once those 20 INQ's fall off, pay down your capone cards off with perhaps one reporting less than 9% and the rest at zero, App for an AMEX Zync card should be good if the capone cards are 6months or older. If you can get closer to 700 with the INQ's dropping off and possible improved UTL, you can try Chase Freedom and Discover More/IT

Re: Need Help With CC's

Revelate — Mon, 27 Aug 2012 23:56:21 GMT

@SpiceIslander wrote:
You mentioned that 4 of the collections would fall off in November....what about the others? I think taking care of those should be a bigger priority than applying for new credit. Even when 20 of your inqs fall off in November, you'll still have 14 left. That's quite a bit in addition to the collections. Take your time and work with the cards you have. Keep your util low and let them age. Time & patience will do the rest.

+1. Wait until December, re-pull your scores, and then see. There's a non-zero chance you may be in a higher bracket, right now you're sitting in the unpleasant middle ground between subprime and prime.

It also gives you another 3ish months to bring down your utilization some too if you so choose, and that'll be another boost most likely.

Either way, there's no rush to go out and get new cards now when you're establishing credit still; I'm in the same situation and the best thing we have working for us is time, and waiting a bit for a more opportune time is absolutely the optimal path for garnering higher quality approvals in my opinion.

Re: Need Help With CC's

Anonymous — Mon, 27 Aug 2012 23:57:32 GMT

Im just tired of cap 1. No baddies at all with them period not even once yet I cant get a CLI but they say they are reviewing there CLI policy. I want to get better cards. As far as the other 3 CA they fall off 10/2013 so I been afraid to mess with them and reengage the SOL. There as to be atleast one better cc out there I can get so I can get rif of cap 1

Re: Need Help With CC's

Anonymous — Mon, 27 Aug 2012 23:58:25 GMT

The cap 1 cards are 2 yrs old

Re: Need Help With CC's

Anonymous — Tue, 28 Aug 2012 00:00:31 GMT

Time is true that we have. Also in Feb of 13 6 more of my inqs will fall off. Guess Im just desperate to get rid off cap 1

Re: Need Help With CC's

SpiceIslander — Tue, 28 Aug 2012 00:01:48 GMT

@icu2_stl wrote:
Im just tired of cap 1. No baddies at all with them period not even once yet I cant get a CLI but they say they are reviewing there CLI policy. I want to get better cards. As far as the other 3 CA they fall off 10/2013 so I been afraid to mess with them and reengage the SOL. There as to be atleast one better cc out there I can get so I can get rif of cap 1

You'll get there! November is not that far away and you shoud get a score increase then.

Re: Need Help With CC's

nicholasyud — Tue, 28 Aug 2012 00:09:04 GMT

man your inquiry more than my whole family bro.......

Re: Need Help With CC's

Anonymous — Tue, 28 Aug 2012 00:13:17 GMT

Thanks

Re: Need Help With CC's

Anonymous — Tue, 28 Aug 2012 00:14:38 GMT

I dont need your negative input nicholasyud.

Re: Need Help With CC's

llecs — Tue, 28 Aug 2012 00:16:16 GMT

I don't think he meant it as a negative or a criticism. I started on these forums with over 30 inquiries each on EQ and EX and 7 or so on TU. No biggie. It's not a bad thing. Part of the learning process.

Re: Need Help With CC's

LS2982 — Tue, 28 Aug 2012 00:19:56 GMT

I agree with the others that you should wait until december. That will give your INQ's some time to age further.

Re: Need Help With CC's

Anonymous — Tue, 28 Aug 2012 00:23:34 GMT

Looks like I will keep gardening atleast until mid Dec 2012.. Thanks everyone for there input. Any additional advice is welcome but I will still stay tuned with gardening until Dec 2013

Re: Need Help With CC's

Anonymous — Tue, 28 Aug 2012 00:54:51 GMT

@icu2_stl wrote:
Looks like I will keep gardening atleast until mid Dec 2012.. Thanks everyone for there input. Any additional advice is welcome but I will still stay tuned with gardening until Dec 2013

I'm just going to echo the advice that you've already been given. Time helps, it really does. I had 2 COs and a CA on my reports when I apped for two prime cards last October; one of them was an offer that I received in the mail. I was denied on both of them. The reason given was the CO/CAs. I sat back and waited 10 months for them to drop off, apped again last weekend, and voila! Approved, with nice limits. So if you have baddies that are close to dropping off, I would strongly urge you to just sit back and wait. Right now, time coupled with responsible current behavior are your best friends.

Re: Need Help With CC's

webhopper — Tue, 28 Aug 2012 03:06:00 GMT

I agree that waiting is your best option. Wait til the baddies are gone, that's your best option

Re: Need Help With CC's

Anonymous — Tue, 28 Aug 2012 06:39:26 GMT

@jamesdwi wrote:
how old are the cap1 cards, once those 20 INQ's fall off, pay down your capone cards off with perhaps one reporting less than 9% and the rest at zero, App for an AMEX Zync card should be good if the capone cards are 6months or older. If you can get closer to 700 with the INQ's dropping off and possible improved UTL, you can try Chase Freedom and Discover More/IT

+100

Take care of ur existing credit and use charge card.