topic Re: EX-687 TU-648 (8 hard inquiries) Can I add one more hard? (USAA UNSECURED) in General Credit Topics

EX-687 TU-648 (8 hard inquiries) Can I add one more hard? (USAA UNSECURED)

studiogeek — Fri, 22 Mar 2013 13:15:11 GMT

Hi,

I am quite new to this game and could use some advise.

I started with a score around 525 or so last year.

I had one charge off from T-Mobile sold to Midland Funding for 1100$. There has been no activity in 5-6 years (but they reported it as current to TU and EQ).

I had one Tax Lien of 2,988$ from 2007 and marked paid in 2007 as well.

I got a capital 1 secured card for 200$ 8 months ago and I autopay the balance every month. (score went up twice in 7 months)

I recently disputed the CO from T-Mobile online because of the date and EX removed it last week. My EQ and EX scores shot up to 735 TU stayed at 635 or so as the CO and Tax lien was still visible there.

I successfully added 3 credit accounts this week (Macy's, Bloomingdales, Shell gas)in addition to my existing capitol one secured card. They have 500$ limit each.

On inquiries, I have 4 on experian, 3 on trans union and 3 on Equifax (with overlap).

Some are dated 8/5/2012. They were a pay paypal card (denied) and Cap one secured (got it) (all last year)

Some are dated 3/18/2013 These were the 3 NEW accounts and one for an UNSECURED capital one card (denied) (All last week)

It looks like a grand total of 8 hard inquiries. Can I afford one more hard inquiry for a REAL card (USAA)?

(My recently scores dropped back down 35 points already after the 4 new hard inquiries and carrying a 70$ balance for the first time on the secured card)

TU fico is up to 648

EX fico is down to 687 (new hard inquiries)

EQ is hovering around the same as EX for me. They seem to have similar data on me.

Should I try USAA now or wait for my score to shoot back up (by paying on time with the 3 new accounts)?

Thank You!!!!!!

Re: EX-687 TU-648 (8 hard inquiries) Can I add one more hard? (USAA UNSECURED)

Anonymous — Fri, 22 Mar 2013 15:33:21 GMT

Hello and welcome to the forums. Before we answer your question on new credit I just want you to know that the "Credit Scores" you have received are probably not FICO scores unless you got them directly from a lender and they were listed as FICO scores. There are limited ways to get your FICO scores. The easiest is to purchase your TU and EQ scores from this website. EX does not want to play well with us consumers and is unavailable except to lenders. The credit scores that are sold elsewhere are what we call "FAKO Scores". You will discover a multitude of threads on here that talk about the difference.

As to getting a card from USAA my first question would be have you seen a pre-approved offer from them for a card while logged into your account? If they do that it is as close to guaranteed as you are going to get in the credit world. If not I would not attempt a credit card with them at this time. Take the credit accounts you have including your new ones and treat them with care for the next 6-9 months. When you do that you will not only see your score rise but you will be demonstrating to USAA and any other future creditors that you can responsibly handle credit. If you behave responsibly you will set yourself up for a magnificent credit future, but it is a journey not a dash. It takes time to build a solid credit portfolio.

Re: EX-687 TU-648 (8 hard inquiries) Can I add one more hard? (USAA UNSECURED)

studiogeek — Fri, 22 Mar 2013 15:46:33 GMT

Thank you for your reply.

My scores are from this web site (and 3 others). I am going to wait until the ground i just made up, then lost again with recent inquiries comes back. Judging from how nicely it came up a few months into paying well on the secured card. With 4 cards paid on time it should jump up nicely. My first 2 hard inquiries will fall off later this year (if they last 1 year). I contacted TU to ask them to delete my paid tax lien because of the new law and delete the Midland CO because they keep reporting the date as current and its 6 years old. TU is the ONLY CRA with negatives on me now. If they delete both, I will have only positives left and should see a dramatic rise.

I hope i have good luck again.

I went up 200 points in 7-8 months! (but just lost 40 or so with hard inquiries for new credit and a bit for carrying a 70$ balance after zero balance for 7 months)

Re: EX-687 TU-648 (8 hard inquiries) Can I add one more hard? (USAA UNSECURED)

Anonymous — Fri, 22 Mar 2013 16:01:01 GMT

You will see the inquiries drop off of your reports purchased from My FICO after a year because that is when FICO stops scoring them. But from most third party monitoring sites and on annual credit report dot com you will see them remain for two years because that is the time established by the bureaus for them to be available on your reports. So any creditor who pulls your reports will see all inquiries for the last two years, but most only concern themselves with the last six months or one year . You have a solid plan for building your credit. Just stick around here to keep learning and share your experience with others.