topic Re: My beginning journey w/ good news! in Credit Cards

My beginning journey w/ good news!

Anonymous — Thu, 14 Nov 2013 04:11:25 GMT

Hello all,

I started my journey back in February. During that all my cc apps were turned down. I applied to Chase, Target and some other department store cards. All were rejected due to no history.

Seeing the advice here, my only option, I got Cap1 secured card for 400 dollars.

After 6 months in, Capital One gave +150$ unsecured increase to my limit.

And 9 months in, last week I applied to Barclays and got approved for $2000! On the same say, I applied for Chase Freedom and got approved for $1500. Although I only had one secured card history and 9 months history, they were happy to approve me.

Today I received a pre-approval Discover-it card in the mail. I am not sure if this is a good deal but things seem to pick up.

My score was 717 due to limited card limits, and today I check it jumped to 727! The highest I've seen since I started my journey.

So what do you guys think? Am I doing well? Should I consider Discover-it card too? Or should I just start gardening? I have 6 inquiries in my report, 3 being recently (2 in one week for above cards).

Thanks!

Re: My beginning journey w/ good news!

Anonymous — Thu, 14 Nov 2013 04:16:44 GMT

I would go for the discover. Good benefits as well as 5% categories and Shop Discover.

Re: My beginning journey w/ good news!

H4LO — Thu, 14 Nov 2013 05:08:12 GMT

@Anonymous wrote:
Hello all,

I started my journey back in February. During that all my cc apps were turned down. I applied to Chase, Target and some other department store cards. All were rejected due to no history.

Seeing the advice here, my only option, I got Cap1 secured card for 400 dollars.

After 6 months in, Capital One gave +150$ unsecured increase to my limit.

And 9 months in, last week I applied to Barclays and got approved for $2000! On the same say, I applied for Chase Freedom and got approved for $1500. Although I only had one secured card history and 9 months history, they were happy to approve me.

Today I received a pre-approval Discover-it card in the mail. I am not sure if this is a good deal but things seem to pick up.

My score was 717 due to limited card limits, and today I check it jumped to 727! The highest I've seen since I started my journey.

So what do you guys think? Am I doing well? Should I consider Discover-it card too? Or should I just start gardening? I have 6 inquiries in my report, 3 being recently (2 in one week for above cards).

Thanks!

Discover is usually really good with topping your other cards. I'd go for it, but make sure you get some kind of sign up bonus. IIRC. There is a spend 750$ get 150$ cash out there.

Re: My beginning journey w/ good news!

myjourney — Thu, 14 Nov 2013 05:16:01 GMT

@Anonymous wrote:
Hello all,

I started my journey back in February. During that all my cc apps were turned down. I applied to Chase, Target and some other department store cards. All were rejected due to no history.

Seeing the advice here, my only option, I got Cap1 secured card for 400 dollars.

After 6 months in, Capital One gave +150$ unsecured increase to my limit.

And 9 months in, last week I applied to Barclays and got approved for $2000! On the same say, I applied for Chase Freedom and got approved for $1500. Although I only had one secured card history and 9 months history, they were happy to approve me.

Today I received a pre-approval Discover-it card in the mail. I am not sure if this is a good deal but things seem to pick up.

My score was 717 due to limited card limits, and today I check it jumped to 727! The highest I've seen since I started my journey.

So what do you guys think? Am I doing well? Should I consider Discover-it card too? Or should I just start gardening? I have 6 inquiries in my report, 3 being recently (2 in one week for above cards).

Thanks!

Welcome to the forum

While you have done well with such a thin and new file IMHO it's time to head to the garden age the TL's you have and in 6 months hit Discover

Re: My beginning journey w/ good news!

staifokuzed — Thu, 14 Nov 2013 05:35:20 GMT

I have a very good feeling that if u follow MJ's advice u will fall over when u see the discover approval. From what I've seen they are conservative. So if u get approved for 1-2k now you will be stuck with that limit for at lot longer than the 6 months u wait now.

Also it is not wise to apply for to many new accounts with that new barclaycard. They tend to be very sensitive to new accounts and inquiries. It's best to garden at this point.

Good luck and congrats,

Re: My beginning journey w/ good news!

Anonymous — Thu, 14 Nov 2013 05:51:00 GMT

Very good advices again... I've decided not to pursue Discover for now. Not that I need a CC anyway. However that boost in my score made me think it could get even higher when loan limit is getting higher. But as said, i'd be stuck with that limit forever and probably I'll be given a higher limit if I do my hw on these cards.

Re: My beginning journey w/ good news!

djc1puno — Thu, 14 Nov 2013 05:54:56 GMT

WTG! great work on the rebuild it'll only get better with the offers i'm sure

Re: My beginning journey w/ good news!

Anonymous — Thu, 14 Nov 2013 06:07:10 GMT

Thanks djc1puno! I'm more surprised with Chase than anything else. Not long time ago they lectured me on how I should try later and keep doing what I'm doing. But I am also their customer since college. My salary is deposited to their banks, these might've helped.

My goal now is getting one more prime card and having CLIs all over, and finally close my secured card. It's murder to charge me yearly fee but glad that they helped me rebuild my credit.

Re: My beginning journey w/ good news!

wHiTeSoL — Thu, 14 Nov 2013 06:12:42 GMT

@Anonymous wrote:
Very good advices again... I've decided not to pursue Discover for now. Not that I need a CC anyway. However that boost in my score made me think it could get even higher when loan limit is getting higher. But as said, i'd be stuck with that limit forever and probably I'll be given a higher limit if I do my hw on these cards.

There is no evidence that loan limit alone raises your Fico however there is for reducing your UTI with more/higher limits.

Re: My beginning journey w/ good news!

yudeology101 — Thu, 14 Nov 2013 06:13:59 GMT

Congrats on your journey! It can only get better from now on, WTG!!

Re: My beginning journey w/ good news!

djc1puno — Thu, 14 Nov 2013 06:19:55 GMT

@Anonymous wrote:
Thanks djc1puno! I'm more surprised with Chase than anything else. Not long time ago they lectured me on how I should try later and keep doing what I'm doing. But I am also their customer since college. My salary is deposited to their banks, these might've helped.

My goal now is getting one more prime card and having CLIs all over, and finally close my secured card. It's murder to charge me yearly fee but glad that they helped me rebuild my credit.

rebuilder cards do their purpose...that's what i always say...and it's the price we all have went thru (for those of us that have to rebuild from past mistakes)...being responsible with your credit sure does pay off...keep up the good work

Re: My beginning journey w/ good news!

coldnmn — Thu, 14 Nov 2013 11:35:57 GMT

@Anonymous wrote:
Very good advices again... I've decided not to pursue Discover for now. Not that I need a CC anyway. However that boost in my score made me think it could get even higher when loan limit is getting higher. But as said, i'd be stuck with that limit forever and probably I'll be given a higher limit if I do my hw on these cards.

Congrats! Very good choice! I'm glad to see your winning in your journey.

Re: My beginning journey w/ good news!

lg8302ch — Thu, 14 Nov 2013 11:54:18 GMT

Congrats! As for Discover it is really unpredictable what they will do in terms of CL. Sometimes they top all other cards or end up as far lowest...hit and miss with them.