topic Re: Some Positive News! in Rebuilding Your Credit

Some Positive News!

Anonymous — Fri, 20 Nov 2015 02:29:38 GMT

I paid my old sprint account in collections and I just checked my credit report and it has been dropped!

Also, I just got a preapproval for Merrick bank "double your line" card which claims no fees, monthly/annual/setup. I have 9 inquireres on TU, but three of them are from a car loan I just got. Is that too much for them? should I forget this one? I only have two bank cards and one store card. The free TU score a month seems enough for me to be worth it. 651 score as of yesterday

Re: Some Positive News!

Anonymous — Fri, 20 Nov 2015 02:42:28 GMT

@Anonymous wrote:
I paid my old sprint account in collections and I just checked my credit report and it has been dropped!

Also, I just got a preapproval for Merrick bank "double your line" card which claims no fees, monthly/annual/setup. I have 9 inquireres on TU, but three of them are from a car loan I just got. Is that too much for them? should I forget this one? I only have two bank cards and one store card. The free TU score a month seems enough for me to be worth it. 651 score as of yesterday

The Merrick CC is one of the 'least worst' for rebuilders.

If your score is at 651, you are at or very close to approval for CCs from places like Cap1.

Before accepting the Merrick offer, check the prequal site for Cap1 and app for the Platinum and the QS1, if prequaled. Just be aware that Cap1 usually does a HP on all 3 bureaus. If you make a second app very soon after the first one, it usually consolidates into one set of pulls.

Also, if you already have a Cap1 rebuilder CC like the Platinum or QS1, they will only allow you to have two of those at one time. If you already have one, the double app will not work.

It would help if you gave us more info, like what CCs you already have and the number of INQs on each report. Also is the 651 a Fako score or a Fico, and what are the others?

HTH

Re: Some Positive News!

Anonymous — Fri, 20 Nov 2015 02:56:47 GMT

651 is a fico. I have the qs1 at 2300 and secured at 200 so I am not qualified for another cap 1. Lows at 300. 9 inqurieries include three above, amazon/Barclay's bank denial and four auto loan pulls.

From what I read, it is one of the less evil rebuilder cards and I am far from advancing upward until I deal with my baddies and I have successfully paid off two of my four but now to goodwill chase from an old cc in 2010

Re: Some Positive News!

Anonymous — Fri, 20 Nov 2015 02:57:40 GMT

I don't know my true Equifax and my experian is at 598

Re: Some Positive News!

Anonymous — Fri, 20 Nov 2015 03:27:24 GMT

@Anonymous wrote:
651 is a fico. I have the qs1 at 2300 and secured at 200 so I am not qualified for another cap 1. Lows at 300. 9 inqurieries include three above, amazon/Barclay's bank denial and four auto loan pulls.

From what I read, it is one of the less evilrebuilder cards and I am far from advancing upward until I deal with my baddies and I have successfully paid off two of my four but now to goodwill chase from an old cc in 2010

I agree with you on Merrick, it is one of the least worst.

I have a Merrick and I had the double at 6 months offer and it worked fine. I have had it since Dec 2103 and have only received two CLIs and its now at 1800.

It does appear that Cap1 is out for you for the immediate future.

Re: Some Positive News!

Anonymous — Fri, 20 Nov 2015 03:54:15 GMT

I'm thinking about pulling the trigger but am a little scared since there seems to be a lot of activity in such a short time period. How "approved" are their pre-approvals? I mean I understand it's a YMMV thing but I don't wanna waste a pull on nothing. Thanks for the contribution!

Re: Some Positive News!

Shooting-For-800 — Mon, 23 Nov 2015 14:21:27 GMT

I have had several Merrick cards over the years and never had any issues with them.

No BS payment problems, no fees, no interest, nothing.

They seem to be a decent bank for marginal credit.

I have also never received a CLI after the first "double CLI" but I only use it for about $10 per month to keep it active.

Re: Some Positive News!

crrredit — Mon, 23 Nov 2015 14:31:34 GMT

Credit Unions are a good category to check out for your third card. Could be a local one you are a member of, or one of the national CUs talked about on these boards.

Re: Some Positive News!

Anonymous — Tue, 24 Nov 2015 01:45:20 GMT

Sadly, i got denied from my local credit union but that's because my experian score is 598 and all my baddies are from last year and this year.

That's okay, i'm gonna focus on the new merrick card and gardening for a while

Re: Some Positive News!

Anonymous — Tue, 24 Nov 2015 02:34:34 GMT

Does it say pre-approved or pre-selected?

Re: Some Positive News!

Anonymous — Wed, 25 Nov 2015 17:08:09 GMT

it said pre-approved so i did it. still waiting for it to come in the mail

Re: Some Positive News!

Anonymous — Wed, 25 Nov 2015 17:28:31 GMT

Good luck on chase GW...I tried 2 days ago and I doubt it's going anywhere....please let me know if you have any better luck!

Re: Some Positive News!

Anonymous — Wed, 25 Nov 2015 18:20:18 GMT

@Anonymous wrote:
651 is a fico. I have the qs1 at 2300 and secured at 200 so I am not qualified for another cap 1. Lows at 300. 9 inqurieries include three above, amazon/Barclay's bank denial and four auto loan pulls.

From what I read, it is one of the less evil rebuilder cards and I am far from advancing upward until I deal with my baddies and I have successfully paid off two of my four but now to goodwill chase from an old cc in 2010

Time to close the secured card and get another Cap One that will grow with you. App for the Platinum no AF card and get it upgraded to QS after the second statement.

The Merrick is an ok card, no fees but no rewards either. I'd take the offer but just use the card as a backup.