topic Re: Should I app or not???? It's killin me in Credit Cards

Should I app or not???? It's killin me

teo77777 — Wed, 16 Apr 2014 01:37:20 GMT

I started to rebuild just last November after A BK in 2009. I have BK DISMISSED...not Discharged. 1 Foreclosure 2009, 1 repo..2009

Starting Fico was 545 avg..oh yeah...2 collections. Tried a Walmart card in Nov...Denied...Got a 300.00 BOA secured card, paid on time 5 months now,

keep util at 6%. Joined a credit union and took out a 300.00 secured "credit builder loan". Those payments are auto pay, again, never late.

I have a GM Financial on my cr's from 2001...Paid as agreed, paid off early,but closed, yet it shows in my average age of accts. I told myself I would sit for 1 year, then get another card (or try to). Last week my CK score was 644 (Fako) my Eq I pulled from here 615 (myfico). So I was going to wait until I got to 660 or so TRUE FICO ,to app for a Barclay's card. Here's the rub. The 2 collection accts fell of my report and my CK jumped up to 667. I know it's fako so I spent the 19.95

here to pull my true TU Fico..712!!!!! Common...how can 2 OLD baddies be affecting my score that much?? I Still have a BK on there...a repo..and a foreclosure , so I can't see how you can go from 545 to 712 in 5 months. Now I want to app for that Barclay's bad. But those 3 baddies still there, and new credit is 2 open accts, 5 mo old, and toy limits, and NO unsecured accts. I have only 1 INQ now. I bet I'd still get denied, but what would you do in my shoes? Should I go for it, or sit back another 6 mo or so?

Thanks

Re: Should I app or not???? It's killin me

coldnmn — Wed, 16 Apr 2014 01:44:06 GMT

Wait until they all have reported paid as agreed for at least 6 months. I can't remember if Barclay is BK friendly someone should chime in. If they are try for a Barclay card for average credit. Good Luck!

Re: Should I app or not???? It's killin me

teo77777 — Wed, 16 Apr 2014 01:54:56 GMT

I was hoping someone would say wait I also forgot to mention my Dad added me as an AU to his 15 year old Quicksilver with 15k limit. That was 3 weeks ago, but it hasn't reported yet. I was thinking if I wait, the AU would throw a flag that they couldn't determine a true fico for me. Heck , I dunno..Funny thing is, as much as I obsess about getting back on track( and it IS an obsession), maybe the AU would help in getting a better starting credit line SHOULD I be approved....You can study this stuff till you're blue in the face and it's still a crapshoot..Ain't life grand

Re: Should I app or not???? It's killin me

Creditaddict — Wed, 16 Apr 2014 02:05:00 GMT

wait what, you have a 712 TU?

When are the baddies?

seems like you should be totally good for barclay!?

Re: Should I app or not???? It's killin me

teo77777 — Wed, 16 Apr 2014 02:18:32 GMT

Myfico..This site says 712 TU..

Baddies are a forclosure 09..Balance owed 0 (they made money)

Repo with a charge off amount of 789.00 also 09

Filed BK 09 DISMISSED.. I said screw it after I couldn't hang onto the house anyways

Positives are a BOA Secured card with 5 mo history of 6 % util toy 300.00 limit

Credit Union 300.00 "Credit Builder loan ) Secured also 5 months old

An ancient GM Finance car loan in 2001 for 17,000 scheduled for 60 mo, paid off in 36 months.

That's a really thin file..I wish I knew how to post the pic of the TU I pulled from here this eve...Up 70 freakin points in 1 week cuz of 2 collection accts from 2010 removed?

I don't see how a 712 is warranted here..

Re: Should I app or not???? It's killin me

Creditaddict — Wed, 16 Apr 2014 02:20:33 GMT

@teo77777 wrote:
               Myfico..This site says 712 TU..
Baddies are a forclosure 09..Balance owed 0 (they made money)
Repo with a charge off amount of 789.00   also 09
Filed BK 09 DISMISSED.. I said screw it after I couldn't hang onto the house anyways

Positives are a BOA Secured card with 5 mo history of 6 % util   toy 300.00 limit
Credit Union 300.00 "Credit Builder loan ) Secured also 5 months old
An ancient GM Finance car loan in 2001 for 17,000 scheduled for 60 mo, paid off in 36 months.
That's a really thin file..I wish I knew how to post the pic of the TU I pulled from here this eve...Up 70 freakin points in 1 week cuz of 2 collection accts from 2010 removed?
I don't see how a 712 is warranted here..

id say it would be worth the INQ and apply for barclay now.

Sallie Mae?

Re: Should I app or not???? It's killin me

DrZoidberg — Wed, 16 Apr 2014 02:34:38 GMT

I don't know about others but Chase didn't care if you're an AU. I don't think being an AU will get a higher limit. I'd wait or go for a Discover IT.

Re: Should I app or not???? It's killin me

teo77777 — Wed, 16 Apr 2014 02:38:45 GMT

Sez the man with a Centurion card Yer killin me, I could feed my family fer a year with the annual fee alone

Seriously tho, congrats on that

Re: Should I app or not???? It's killin me

Josh2942 — Wed, 16 Apr 2014 02:42:58 GMT

But he is an AU on said Centurion O.o! Im not hating I would love to be an AU on a centurion

Re: Should I app or not???? It's killin me

Shogun — Wed, 16 Apr 2014 02:46:35 GMT

@Josh2942 wrote:
But he is an AU on said Centurion O.o! Im not hating I would love to be an AU on a centurion

You and me both!

Re: Should I app or not???? It's killin me

teo77777 — Wed, 16 Apr 2014 02:53:48 GMT

Hehe..I'm certainly not hating either ....You could give me a card with a 100,000 limit and it would make no difference. I'd never spend more that I could afford or pay in cash. The BK killed me as I got laid off after 17 years with the same company. Stuff happens and poo-poo occurs. Funny how much you learn when you NEED credit, as opposed to when I used to have it. I didn't know anything about scores, util, nada. I just paid my bills and never knew knew what my score was. Wish I knew then what ...yada yada yada..Still debating here...unfortunately if I do app tonight, I'll recon tomorow if necessary, I can almost smell a recon with my history. I am surprised tho that someone thinks a Discover IT is easier to get than a Barclay's for average credit ?

Re: Should I app or not???? It's killin me

Creditaddict — Wed, 16 Apr 2014 02:57:07 GMT

@teo77777 wrote:
Hehe..I'm certainly not hating either ....You could give me a card with a 100,000 limit and it would make no difference. I'd never spend more that I could afford or pay in cash. The BK killed me as I got laid off after 17 years with the same company. Stuff happens and poo-poo occurs. Funny how much you learn when you NEED credit, as opposed to when I used to have it. I didn't know anything about scores, util, nada. I just paid my bills and never knew knew what my score was. Wish I knew then what ...yada yada yada..Still debating here...unfortunately if I do app tonight, I'll recon tomorow if necessary, I can almost smell a recon with my history. I am surprised tho that someone thinks a Discover IT is easier to get than a Barclay's for average credit ?

discover may pull EQ though.

id check the discover pre-qual but i would apply for barlay now.

Re: Should I app or not???? It's killin me

zsepthenne — Wed, 16 Apr 2014 03:00:26 GMT

@teo77777 wrote:
I was hoping someone would say wait I also forgot to mention my Dad added me as an AU to his 15 year old Quicksilver with 15k limit. That was 3 weeks ago, but it hasn't reported yet. I was thinking if I wait, the AU would throw a flag that they couldn't determine a true fico for me. Heck , I dunno..Funny thing is, as much as I obsess about getting back on track( and it IS an obsession), maybe the AU would help in getting a better starting credit line SHOULD I be approved....You can study this stuff till you're blue in the face and it's still a crapshoot..Ain't life grand

I would wait until your 2 cards report 6 months of history, and the AU card reports. Your score is nice. I don't know who is bankruptcy friendly though. Others should chime in soon.

In the waiting time I would go to pre-qual sites and see if you're on any of them. And investigate what cards you'd really like to have, and the annual fees and percentage rates and such. I've spent oodles of time researching to keep my mind off apping lol

Re: Should I app or not???? It's killin me

ACsteel — Wed, 16 Apr 2014 03:09:09 GMT

@Shogun wrote:
@Josh2942 wrote:
But he is an AU on said Centurion O.o! Im not hating I would love to be an AU on a centurion
You and me both!

I never understand why people are in awe with AMEX

Re: Should I app or not???? It's killin me

teo77777 — Wed, 16 Apr 2014 03:15:55 GMT

Hey thanks...Seriously..Somewhere in the back of my mind the Barclay's seemed like a great fit, especially with the free fico scores, nice credit increases etc.

But now I see they whack the crap out of you in hard pulls..I.E. 3 on average for 1 card. Man that's excessive. I'm going to the Credit Union this week for a car loan. They told me they want 20% down for the first car after BK. Fine...I'll do a 10-12k car for my daughter. Easy peasy. My CU pullls EQ, which was 615 last week, but I'm going to bet with out the baddies it's up there too, I'll be ok

Re: Should I app or not???? It's killin me

teo77777 — Wed, 16 Apr 2014 03:46:33 GMT

OK..I took the hit...Instantly approved for 500.00.....Small I know, but my first non secured approval since BK.. I'll TAKE IT !!!!

Very stressful.....

Re: Should I app or not???? It's killin me

Creditaddict — Wed, 16 Apr 2014 03:50:12 GMT

@teo77777 wrote:
OK..I took the hit...Instantly approved for 500.00.....Small I know, but my first non secured approval since BK.. I'll TAKE IT !!!!
Very stressful.....

WOOT WOOT!

now check the pre-qual on the site for capitalone and discover.

Re: Should I app or not???? It's killin me

teo77777 — Wed, 16 Apr 2014 03:53:36 GMT

Man I did that before I did anything.. I wasn't even approved for a Junior Samples Used Car visa ending in BR549!! hehe..if yer old enough you'll understand that...I think I'll chill fer now!

Re: Should I app or not???? It's killin me

teo77777 — Wed, 16 Apr 2014 04:19:46 GMT

OK Couldn't chill... Walmart was the first to decline me in Nov..so I apped again...Instant for 600.00 Kinda bittersweet revenge... I am done for 6 months..

At least now I don't haVE TO PAY FOR tu FICO PULLS

Re: Should I app or not???? It's killin me

Shogun — Wed, 16 Apr 2014 04:26:23 GMT

@ACsteel wrote:
@Shogun wrote:
@Josh2942 wrote:
But he is an AU on said Centurion O.o! Im not hating I would love to be an AU on a centurion
You and me both!
I never understand why people are in awe with AMEX

Because in my current financial status, I'll not ever have a Centurion, I don't spend that much. But to have the card would be nice. I have an AMEX, and it's not my go to card.