topic Re: My first Mini App Spree - New to credit in Credit Cards

My first Mini App Spree - New to credit

Anonymous — Fri, 21 Jun 2013 12:32:14 GMT

Hello fellow Fico Members!

This is my first post, but I have been a lurker for quite some time. Thanks to everyone who contrbute to this board! It has helped my entire family in one way or another! I wanted to share my recent App Spree results with the board.

First, a little background:

I am a 19 year full-time college student, and I work full-time. Both of my parents and my sister are members of this board

Credit Before App Spree:

Capital One - AU

2 Student Loans

Amex BCE - $6,000 - Opened 4/13

App Spree Results 0 (order of application)

Discover IT - $1,500

Citi Simplicity - $1,000

Chase Sapphire Preferred - $5,800

Walmart Discover - $1,50 (yes, $150.00)

I am pretty pleased with the results with the exception of Walmart Discover! I don't understand why they give me such a low credit limit. From reading on this board, it sounds like the card can grow but now I am wondering if I should just close it. I think it will look bad on my credit report because the limit is so low.

Thanks for listening and please let me know if you think I should close the Walmart Discover card.

Re: My first Mini App Spree - New to credit

Anonymous — Fri, 21 Jun 2013 12:35:49 GMT

Congrats on the approvals. I ended up closing Walmart even though I liked the free TU Fico. GE issued a few of my other cards with much higher limits (the top is Gap Visa 5k) but kept me at like $500 with Walmart?!! Away it went...

Re: My first Mini App Spree - New to credit

Anonymous — Fri, 21 Jun 2013 13:44:07 GMT

Congratulations!! What are your credit scores? I want to go on a mini app spree soon. Just waiting for my best but card to report at the start of next month.

Re: My first Mini App Spree - New to credit

creditYum — Fri, 21 Jun 2013 13:50:23 GMT

Not sure when you applied, but perhaps the walmart discover is a temporary CL? Otherwise, congrats! Way to go on the CSP!

Re: My first Mini App Spree - New to credit

Gunnar419 — Fri, 21 Jun 2013 13:53:25 GMT

Good going! Sounds like an excellent start.

I would not close the Walmart Discover because it WILL grow.

Just as an insight, I was approved for the Walmart Discover with a CL of just $400 even though I have a long credit history with no baddies. I reconned to Credit Solutions that evening and got it bumped to $1,000. A couple of months later, GE (who backs the WD) nearly tripled that.

So no, I wouldn't get rid of it. Besides, don't forget that it gives you a TU FICO score when you use paperless billing.

Re: My first Mini App Spree - New to credit

MsLadyRover — Fri, 21 Jun 2013 15:10:01 GMT

WOW! Very successful spree! Congratulations!

Don't worry about the WD. It will grow. When I first got my Wally card almost 5 years ago, my limit was only $125. Yup...$125.

Now it has since been upgraded to the Discover and my limit is $2,000.

Re: My first Mini App Spree - New to credit

Anonymous — Fri, 21 Jun 2013 16:10:39 GMT

Thanks everyone!

One the 18th of this month I pulled all 3 of my credit reports,

TU - 719

EQ - 717

EX - 705

This was after my BCE card report and I carried a balance of $54.00 on my Capital One card. (read here to let one card carry a small balance)

My EQ score was 743 prior to my AMEX card so I took a nice hit score wise for that card!

I just checked my reports and Chase and Citi both doubled pulled me on EX and EQ ouch! Discover and Walmart Discover both used TransUnion.

Thanks for the advise about the keeping the Walmart card for the FICO score! If the card will grow with me it makes sense to keep it.

Do you think I should apply for a store card? If so, which on would you recommend? Other than that, I don't think I need anymore cards

When I got my approval for the CSP card, it mentioned that if this credit line was not enough I could request more at activation, has anyone tried this? Is it another hard pull? I don't want to sound greedy, but if they are willing to up my limit why not ask??

Thanks!