Hello MFers,
I am back!!
(I said I would revisit with updates, so here I am)
I could not wait until my youngest (active) card hit 2 years. I really wanted to; I promise. However, now... only the credit gods will ever truly know how much I could have and would have received and been rewarded with if I would have went another 6 months or so without applying for new credit. Which honestly is not that long, and if I already had all of the cards that I wanted, I know I could have made it another 6 months.
Buuuut, since I am currently laying the foundation for my rebuild, I figured now would be as good of a time as any to apply for new credit, especially since I want to start to diversify my credit portfolio a little bit now that I have my (personal) core cards and the 5/24 rule was holding me back.
I wanted to leave this thread where it was at and keep it on topic, so I created this post for a little more clarity: Experian AAoA VS Credit Card AAoA
After concluding that whichever bank pulled my credit report they would see an AAoA of 8 years instead of 1.5 years, I applied for the Chase Freedom Flex, and I was approved... after a financial review!! a full blown financial review, where I only claimed household income (I am over 21), and they wanted to see my personal income (this is mandatory for people under 21). That was a $#@% show for about 9 days, I had to educate them on the CFPB credit card act of 2009 and the amended regulations of 2012. After doing so, they approved me. I will create a different post on all of that at a later date, it is so long and in depth that I decided to come here and update this post with the current data points for this topic and close it. Just the thought of explaining to the forum in writing of what I went through in order to get this card approved terrifies me, not so much because of the customer service experience as opposed to the legality and regulations to the way that I claimed (and will continue to claim) my finances due to the credit card act of 2009/2012, even though it was completely legitimate.
Which brings me to the next subject, this forum is SUPERB and the moderators and staff are great, there is no doubt about that, there is no way that I could ever have the scores or the cards that I do without you guys. But there is one topic on here that I came across multiple times in reference to the credit card application verbiage "if you're 21 or older and regularly use income from others to pay your bills, you can include that too". I will not name names or link to the threads, but it was both moderators and well known contributing members that I saw not only spreading misleading information because of their frowned upon beliefs of the subject, but they were also belittling new forum members that were asking the same question that I had when dealing with this (because it is confusing). The belittling accompanied by incorrect information is obviously not necessary as I just passed the Chase Financial Review using this method and nothing else. Meaning when they asked me how much I made, I told them that it was irrelevant because the income that I claimed on the application was less than the amount of the reported income on the individuals W2 and Year to Date Earnings Statement that I submitted to them.
There was a little back and forth, well actually A LOT, they (Chase and other members of this forum) felt and strongly believed that there needed to be an actual "joint connection" whether that was through JOINT tax filings (not just being claimed as a dependent) or JOINT bank account (not just an authorized user).
However, according to CFPB Ability to Pay Examples of Considering Income that is not the case for individuals 21 and older.
Anyways, for the data points that everyone is waiting for...
715 Experian
$8,000 Starting Limit
Before Application
Oldest CC Account 1.5 Years
Newest CC Account 1.4 Years
this officially puts me at 5/24
However, now that I have all of the chase cards that I am interested in, around December I will start to apply for more cards once Chase settles down on their risk aversion soft pulls for new accounts so that they do not get mad about me seeking credit after they just extended me credit... and a decent amount! It is my highest SL so far!!
PS... AMEX 3X CLI still hates me, no dice on recon either, like nothing, no budge and I put good money throught that aspire. Chase recon and uw actually looks at your profile and relationship with them, amex pushes you off to the algorithm and uses the easy way out - that sort of bothers me.
I hope this answers any open questions in regards to this topic, if you have any questions about how I claimed household income without providing verification of personal income following the credit card act of 2009/2012... send me a message, I would love to chat with you.
And once again, thank you to everyone that contributes to this forum.
