Capital One QS, Neiman Marcus online application

[Anonymous]

Hi guys I am a lurker and finally have a question! I applied for capital one quick silver and Neiman a couple of days ago and it's saying they are still processing the application. I'm super nervous because I don't have revolving credit and I saw on CK that they pull EQ, which is my worse. EQ was at 660 but I have one collection for $250 , 4 years old, (will do P4D tomorrow) and a 5 year old judgement. I was wondering if anyone has experience with this and what are the odds of approval? I really want to re establish my credit with these cards! 

Stats:   Ex:  614. TU 658 EQ 660

[sjt]

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@Anonymous wrote:

Hi guys I am a lurker and finally have a question! I applied for capital one quick silver and Neiman a couple of days ago and it's saying they are still processing the application. I'm super nervous because I don't have revolving credit and I saw on CK that they pull EQ, which is my worse. EQ was at 660 but I have one collection for $250 , 4 years old, (will do P4D tomorrow) and a 5 year old judgement. I was wondering if anyone has experience with this and what are the odds of approval? I really want to re establish my credit with these cards! 

Stats:   Ex:  614. TU 658 EQ 660

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Hi!

Welcome to MyFico!

Question: 1) Was the judgement paid? 2) do you have any positive tradelines on your report. ie student loan, auto loan, etc.

Your scores should be good enough for a CapOne card.

[Anonymous]

No, the judgment is not paid. I'm trying to dispute it but EQ is a little stubborn. That judgment was deleted from EX & TU. 

Yes, I am joint user on a new car loan (03/15) , monthly payment on washer/dryer co. (Req by apartments ) student loan requires no payments right now. 

[sjt]

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@Anonymous wrote:

No, the judgment is not paid. I'm trying to dispute it but EQ is a little stubborn. That judgment was deleted from EX & TU. 

Yes, I am joint user on a new car loan (03/15) , monthly payment on washer/dryer co. (Req by apartments ) student loan requires no payments right now. 

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Another clarifying questions:

• You mentioned that the judgement is on EQ but your stated EX score is 614. So is the judgement on EX or is the scores listed got mixed up?
• I would freeze the CRA report which still lists your judgment.
• Keep in mind that even though you were able to get the judgment removed the judgement is still valid. If you plan to petition to vacate a judgment you need to keep in mind that each state/jurisdiction has different guidlines in vacating judgment. One reason for vacating a judgment is not given a proper notice.
• What was the collection on your CRA for? Did you check the SOL. If you are within the SOL contacting them could have adverse effect. If you are out of the SOL, then that is to your advantage.
• IS your monthly payment for washer/dryer on your report?

[Anonymous]

No, the judgment is not on EX. I have no idea why my score is lower on EX. I don't know if it's because of the new car loan or noI t. 

How Do I freeze the report? 

Yes, they are reporting monthly on EQ and TU. 

I do plan on having the judgment vacated but I was hoping to at least get it removed off of my credit first to increase my score. 

The collection account has another 3 years or so before it falls off. 

[Anonymous]

I'm sorry the collection is for medical I think. I will have to check. 

[Booboo71]

Not to sound harsh but if you owe on the judgement why not pay it? I uderstand wanting to build your credit but going after a Neiman Marcus card and wanting to make purchases from a retailer thats extremely catering to the upper class I dont really understand the logic? Not a cheap retailer! Now the QS I understand wanting. Have you thought of Synchrony bank or Commenity? 

Good luck

[Anonymous]

I have my reasons as to why I refused to pay the judgment in the past, none of which I care to explain on this topic because it really doesn't matter- but I understand the enforcement process of judgments-so I will eventually pay it- I just wanted it Deleted off of my report and didn't want to go through the vacate method. Court clerks move slow. 

I understand neimans  is a high end retailer I actually used to have their card & Saks years ago- I'm jjust not interested in any other "store" card. I will get those cards sooner or later, I guess I am being impatient and wanted to try my luck. My EX & TU will be clear of all collections this week (only have one collection on each report $250) because I'm paying a collection off in the morning for deletion. I'm just nervous about EQ. 

So, if anyone have a similiar experience please reply, if not I will keep you posted on the answer. 

[sjt]

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@Anonymous wrote:

I have my reasons as to why I refused to pay the judgment in the past, none of which I care to explain on this topic because it really doesn't matter- but I understand the enforcement process of judgments-so I will eventually pay it- I just wanted it Deleted off of my report and didn't want to go through the vacate method. Court clerks move slow. 

I understand neimans  is a high end retailer I actually used to have their card & Saks years ago- I'm jjust not interested in any other "store" card. I will get those cards sooner or later, I guess I am being impatient and wanted to try my luck. My EX & TU will be clear of all collections this week (only have one collection on each report $250) because I'm paying a collection off in the morning for deletion. I'm just nervous about EQ. 

So, if anyone have a similiar experience please reply, if not I will keep you posted on the answer. 

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Regarding your collection account:

Before you call, find out if the collection is out of the SOL in your state. If it is that means they can pursue the debt and you have the upper hand in settling this debt. If it is within the SOL proceed with caution. Also, when you call DO NOT acknowledge the debt is yours. Approach it as their is a $250 collection on my CR and to save time I am willing to pay it in exchange for you to delete it off my CR.

Judgment:

Its great you were able to have it removed from your CR, but It could reappear on your reports in the future. Also, since its still enforceable the plaintiff could pursue collection efforts on that judgment. When you are ready to pay the judgement, you need a strategy where the outcome would be the satisfying the debt and vacating the judgement.

[Creditaddict]

Neimans is actually pretty easy to get... They will pull EQ but you should probably be good at 660.