topic Re: A Successful Week in Credit Cards

A Successful Week

jhb — Mon, 21 Oct 2013 20:51:12 GMT

Hello everyone,

I've been lurking these forums since 2007 and have never posted anything, although working on my credit for the past 6 years. Last week I went on a little app spree. Applied for a car loan through USAA and was approved instantly for up to $46000 at 5.4%. The following day I took my wife to the Mercedes Benz dealership because she wanted to trade her car in for the new 2014 CLA. Mercedes said that they could beat that offer. So I said what the heck, run my credit. They approved me through Mercedes Benz Financial at a rate of 3.3%. One hour later, my wife drove off in her new Benz with all available upgrade options for about $42000. The next day I thought to myself, I now have some inquiries on my report, so let's do some credit cards. Applied for Discover IT, approved for $1000. Applied for the Chase Sapphire Preferred, approved at $6000. Finally, applied for the American Express Gold, approved. What a week. My Transunion score is 671 and Equifax 663 according to this site. Here is my list of cards for those wondering:

USAA American Express-$6000 opened in 2008
USAA MasterCard-$6000 opened in 2008
Capital One Platinum-$750 opened in 2008
Capital One Builder-$500 opened in 2008
Best Buy MasterCard-$300 opened in 2008
Citi Diamond Preferred-$1500 opened in 2013
Barclays Visa-$2000 opened in 2013
Navy Federal Secured-$1000 opened 2013(waiting for it to become unsecured)
Express-$500 opened in 2013
Chase Sapphire Preferred-$6000 opened in 2013
Discover IT-$1000 opened in 2013
American Express Gold-opened in 2013

When I first came to these forums I had no credit cards and no car loans in my name. I had a Fico score of 563. In six years, I have been approved for 3 car loans solely in my name and now 12 credit cards. I need to get my credit card age up and then I'll be in the 700's. I have one medical collection on my report from 2007 but creditors have looked beyond that. Thanks for your stories and your motivation.

Re: A Successful Week

B335is — Mon, 21 Oct 2013 20:49:59 GMT

That's awesome! Def the best way to buy a car is armed with financing ahead of time. Some day, I'll learn that, but for now I'm too impulsive and despite my better judgement, left making a new car purchase an all day affair.

Re: A Successful Week

coldnmn — Mon, 21 Oct 2013 20:50:52 GMT

Congrats!

Re: A Successful Week

Anonymous — Mon, 21 Oct 2013 20:54:09 GMT

Hey way to go! =D

Re: A Successful Week

09Lexie — Mon, 21 Oct 2013 20:55:05 GMT

Thank you for posting! Congratulations on all you've achieved and don't be a lurker!

Re: A Successful Week

Anonymous — Mon, 21 Oct 2013 21:01:46 GMT

Strong 1st post lol!

Congrats on all the approvals. Seems like you've worked hard at managing your finances.

Re: A Successful Week

jhb — Mon, 21 Oct 2013 21:04:18 GMT

Thank you everyone! There is one more card I want to get next year and it's one of the American Express revolver cards. Then I believe I'm done. ;-)

Re: A Successful Week

MoreRewards — Mon, 21 Oct 2013 21:08:52 GMT

Congrats! That is accomplishments to be proud of.

Re: A Successful Week

jhb — Mon, 21 Oct 2013 21:27:48 GMT

Now I'm trying to figure out how to add all of my Cards to my signature like I see all the cool people here doing. :-)

Re: A Successful Week

Anonymous — Tue, 22 Oct 2013 03:37:39 GMT

@B335is wrote:
That's awesome! Def the best way to buy a car is armed with financing ahead of time. Some day, I'll learn that, but for now I'm too impulsive and despite my better judgement, left making a new car purchase an all day affair.

Usually that's true, but I actually got a better rate through Volkswagen Credit (I was buying a Jetta) than I could get from my CU. 1.25% with VW, 2.45% at the time at my CU, so it was definitely the better option for me at the time and I do not have prime credit yet. Still in the mid 600s.

Re: A Successful Week

Anonymous — Tue, 22 Oct 2013 03:43:10 GMT

Congrats! so jealous of CLA....

Re: A Successful Week

DigitalArk — Tue, 22 Oct 2013 04:18:42 GMT

Congrats!

This is my 500th post!!

Re: A Successful Week

yudeology101 — Tue, 22 Oct 2013 04:55:43 GMT

This is great! Congrats on your progress and I'm sure your wife is loving her new CLA!

Re: A Successful Week

MACFRME — Tue, 22 Oct 2013 06:49:53 GMT

Congrats!!!!

Argh, I want a CLA! If I wasn't upside down in my current car, I would be buying one. : (

Re: A Successful Week

jhb — Tue, 22 Oct 2013 08:08:31 GMT

Regarding the car. Yes, the wife is enjoying her ride. Don't let those commercials fool you with the $29000 price tag. Most Mercedes dealerships only carry the fully loaded models. I'm assuming this also depends on the area. We went to our local Mercedes dealership here in Valencia, we drove to Calabasas, we drove to Beverley Hills and finally, we headed to Mercedes in L.A. Not one had a "cheap" model. They were all fully loaded models ranging from $38625- $42000. I must say its a beautiful car. I've always loved the body style of the CLS. Thanks again for all of your inspiring stories. I had no idea about the importance of credit before discovering this community.

Re: A Successful Week

hot4u — Tue, 22 Oct 2013 08:20:37 GMT

Merecedes Bought my Wife the e350 in Febuary. Never thought I would own one but love it..

Re: A Successful Week

jhb — Tue, 22 Oct 2013 08:35:19 GMT

The E350's are definitely nice. We test drove one but my wife thought it was to big and for an older type woman? LOL! She's 36 and I always tease her about getting close to the big 4 0. What's also funny is, when we got to the dealership an older lady maybe in her 60's had just purchased a CLA and I told my wife that the CLA is also for older women. ;-) Anyhow, she also loves the back end of the CLA and the CLS. Whatever makes her happy right?

Re: A Successful Week

yudeology101 — Tue, 22 Oct 2013 15:38:40 GMT

@DigitalArk wrote:
Congrats!

This is my 500th post!!

Congrats Digital on your 500th!