Approval Chances Target RedCard

[Anonymous]

Congrats OP! I thought you'd be approved as well. Target is hurting because of the boycott I think and because of that they have loosened the reins on credit. Makes me want to apply now.

[Anonymous]

Ronpa - Yeah I felt this one was 50/50 the only thing I applied for in the last years (since I started getting collections) was a Best Buy Card and instant denial.

When I got a Kohl's got the same day I app'd for the Target card I felt a little more confident.

It's weird though it shows my score of 630 being a C- and my SO's score of 713 being just a C yet she gets approved for tons of cards with good SL's with a "C" score.

Did you get a CLI on the target card?

[joltdude]

Have you considered PIF for Deletion for any of your baddies?

Who have you burned?

Even though they probably are set to fall off in 2-3 years (7 years is usual for baddies execept BK) 

Also realize you may have problems getting back with those youve burned...

Peeling away a few baddies might get you in the 700 club faster than a bunch of store cards...

but your smart to stop now and garden.... 

check out the rebuilding forums..

-J

[Anonymous]

I have considered it and if I had the money I would if say they'd probably all accept 50% at this point being out of SOL but I just don't even have that 50% right now you know?

I'm not applying for anything big soon so that's good I guess.

My baddies are:

WElls Fargo (but I'm now an AU on my SO's WF card)

2 payday loans

And Sprint.

So only bank is WF and I don't plan on going back to sprint because they screwed me and it's a whole long story.

But for the time being gardening is the best I can do and hopefully in that time I improve and at least 1 baddie falls off.

Thanks for the info!

[joltdude]

Was hoping they might have been low hanging fruit.. (small amounts, etc or medical collections)...

Yeah looks like waiting untill stuff falls off might be the best tactic if you cant pay em... 

-J

[Anonymous]

I wish my SO had 2 old medical collections a few days after she disputed them they were removed from all 3 CRA's. They were due to fall off early next year anyways but still nice to come off early.

Will a 700 score get you a prime rate loan at most CU's? (Auto loan for example)

[austinguy907]

Matt,

Didn't you have a couple of other threads where you were looking for V/MC type cards and then applied for Kohl's and now Traget?  It's time to put away the electronic devices and head off to the garden.  Kohl's doesn't progress to a card you can use elsewhere and Target is a tough one to convert to MC.  So, do yourself a favor and don't apply for anything else for at least a year to build up your profile.  The auto loan is an easier thing to pull off with a CU even at 650 with some aging of your CC lines and payments shown.  Some CU's will do it at a minimum of 1 year of payment history and some want to see 2 years.  

If you feel the itch to do anything credit wise go ahead and aim for CLI's on what you have now instead of opening something new.  It will pay off much better than adding to the heap of cards you now have.  Once you have a good track record with the secured cards 6-12 mo's you should be seeing them unsecure and the limits rising from where they are now.  Time does wonders when you're trying to grow from seedlings.

[Anonymous]

Austin -

Yes, I ideally wanted another V/MC so that for my rebuild I would have:

3 Revolvers
1 PL

All reporting for 8-12 months which would help a lot.
But all CRA's show my payment history as sterling 100% on time payments never missed a single payment (that's a huge boost considering 35% of my score is because of that factor) it's from my student loans making payments and the government making payments on the interest while I've been in school. It shows 328 on time payments made.

But anyways yeah I got denied for a Visa with my local CU and didn't want to apply for a V/MC due to that. So I picked two stores I shop at on a monthly basis and got store cards I figured 2 of those equals 1 V/MC whether they convert or not it's fine. I love shopping there it's not like I picked somewhere I won't shop.

Hope this clarifies things a bit I was only asking about the auto loan because in a year I'd like to buy a car but not sooner. Off to the garden for the next year

[joltdude]

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@Anonymous wrote:
I wish my SO had 2 old medical collections a few days after she disputed them they were removed from all 3 CRA's. They were due to fall off early next year anyways but still nice to come off early.

Will a 700 score get you a prime rate loan at most CU's? (Auto loan for example)

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I would say many do but... Ideally your scores are slighly north of 700... 720 seems to be thrown around a bit which is less than the fico classification of excellent.... (740+)  But at least 2 CUs i have used like something like scores in the low 700s but one will approve their best rate for high  6s..

[Anonymous]

Target is great card hopefully it arrives soon