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Can't Crack The Code

jrdoctor79
Regular Contributor

Can't Crack The Code

I guess my profile does not match what Cap One, US Bank or Discover is looking for. Attempting a CLI on all cards, over 1 year and no love. Cap One sitting at $750 (I guess I am in the bad boy bucket). US Bank sitting at $650 and $2,000 limit on Discover, been sitting at these limits since July and denials with every love button click. However, Cap One is willing to give me a decent 6% APR on a $35,00 car. I dont understand that one. I guess they will meet the sock drawer or cancellation. I have better cards to replace them. Losing those limits will not hurt my UTIL very much since I received a CLI on Navy which will offset the loss of those limits. Maybe giving them no use will want them open up. If not then "Oh Well" they were good to me when I started on my rebuild journey. 

 

DP's

Credit scores in siggy are accurate. (a little low, missed the cut for paying one of my cards by 1 day and had high util caused the drop below 700)

Overall Util 12% (will be below 9 when my paid off card hits report)

16 / 24 inq on all bureaus. (App Spree some months back)

1 CO 3 years old 

2 Lates 19 months

Income 63,000

AAoA 3.9 years

AoOA 14 yrs 10 mo



Starting Score: TU 527, EQ 543, EX 563
Current Score: TU 690, EQ 677, EX 694
Goal Score:725 Across The Board


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Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: Can't Crack The Code

Unfortunately your 2 lates are a big hindrance. 19 months is still considered very recent and makes you look very risky. Add that with all the inquiries on your reports showing credit seeking behavior and they are concerned about stability. That 3 year old charge off is still very new as well. Have you tried to pay that off and get it removed from your report with a pay for delete arrangement?

 

The 6% APR auto loan is secured by the car, totally different UW criteria to an unsecured credit product.

Message 2 of 5
jrdoctor79
Regular Contributor

Re: Can't Crack The Code

The charge off is not my account so I refuse to pay it. It's from my ex wife. I have disputed to no avail. Most of the inquiries were for a mortgage / car in late 2017. Since I have opened these cards, I have received cards which have better rates, much higher limits ie. Amex Ed @$11000 and Amex Gold NPSL.


Starting Score: TU 527, EQ 543, EX 563
Current Score: TU 690, EQ 677, EX 694
Goal Score:725 Across The Board


Take the myFICO Fitness Challenge
Message 3 of 5
Anonymous
Not applicable

Re: Can't Crack The Code

Capital One and US Bank are both known to be stingy with CLIs even on clean reports and Discover is very much hit or miss but regardless of your later successes, you are likely being held back by the negatives on your report with the first two companies you mentioned. Discover... nobody has cracked that code.

Message 4 of 5
xaximus
Valued Contributor

Re: Can't Crack The Code

If the item is disputed but not rectified in the appropriate manner, I would see in reaching out to the CO company to do a DV (debt validation), since it is not you specifically listed on the account (also, keep in mind, co-signers are responsible for any loan), and AU's are not financially responsible for a credit card, then you have every right for the CO to be removed off your report.


Scores - All bureaus 756 +
TCL - Est. $275K
Message 5 of 5
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