topic Re: 0-800 in 10 Months !! in Credit Cards

0-800 in 10 Months !!

Mustangfrank — Mon, 26 Nov 2012 20:27:57 GMT

Here is how I did it:

I started rebuilding Ten (10) months ago and I had Zero (0) credit

I applied for CapitalOne secured Platinum card with a $300 CL

My usage was 10% and I paid every Month.

After two months I increased my Credit Limit to $1,000 by making a deposit.

After four months I increased my credit limit to $2,000 by another deposit

I continued to have 10% usage and paid in full every month.

After 6 Months my first Fico scores reported in the low 700's

After eight months I was approved for Amex Zync, BCE and True Earnings

(Cards were back dated 29 years as I did have an Amex card years ago)

I do not have any other loans and do not have a mortgage.

No Bankruptcies or Negatives

Everything I know I learned right here on these Boards

Thanks to all in the MyFico Community for all your help.

I am now going to Apply for some more Cards to round out my Quiver.

Re: 0-800 in 10 Months !!

Epcot — Mon, 26 Nov 2012 20:28:52 GMT

Nice, that's fantastic backdating!

Re: 0-800 in 10 Months !!

Anonymous — Mon, 26 Nov 2012 20:46:05 GMT

Great job

Re: 0-800 in 10 Months !!

CribDuchess — Mon, 26 Nov 2012 20:55:23 GMT

Nice work - that's fabulous!! Although you might drop below 800 for a bit if you app for more cards. If I ever make it to 800, I think I'm going to have to walk on eggshells to keep my scores there!

Re: 0-800 in 10 Months !!

Repo-ed — Mon, 26 Nov 2012 21:00:04 GMT

helps when you start out from scratch, and don't mess-up.

Re: 0-800 in 10 Months !!

TNTransplant — Mon, 26 Nov 2012 21:17:04 GMT

@Repo-ed wrote:
helps when you start out from scratch, and don't mess-up.

And, the impact of backdating for 29 years on 3 Amex cards can't be understated - this is the primary reason the OP hit 800 on his reports...

Re: 0-800 in 10 Months !!

DrJim — Mon, 26 Nov 2012 21:56:54 GMT

First, congrats!

Where did you get your EX score? There is a line in your siggy that is only showing the top half or so, so you may explain it there. Just curious if it is from a LO or somewhere else.

Re: 0-800 in 10 Months !!

Mustangfrank — Mon, 26 Nov 2012 22:01:32 GMT

@DrJim wrote:
First, congrats!

Where did you get your EX score? There is a line in your siggy that is only showing the top half or so, so you may explain it there. Just curious if it is from a LO or somewhere else.

My TU and EQ are from this site and my EX is from AMEX

Re: 0-800 in 10 Months !!

wallyworld123 — Mon, 26 Nov 2012 22:02:19 GMT

Congrats that's simply amazing news Hooray for you!

Re: 0-800 in 10 Months !!

Anonymous — Mon, 26 Nov 2012 22:19:40 GMT

I just started from scratch myself and I just got my 5th statement from Capital One Secured with 600 credit limit at the moment. I always PIF after I get the statement, utilization is always under 20%, and I plan to add another grand to the credit limit when I get my tax refund. I hope I hit the 700 club once I get 6 month of history

Re: 0-800 in 10 Months !!

Mustangfrank — Mon, 26 Nov 2012 22:23:07 GMT

Just keep doing what you are doing and you will get there quickly.

If you can get it under 10% it will grow even faster.

Re: 0-800 in 10 Months !!

Anonymous — Mon, 26 Nov 2012 22:36:13 GMT

My first 3 months I've had it at 20%, but I kepted it under 10% for the last two statements.