Credit Card Application Rehab Thread

[Anonymous]

Reality is, every open card I have was opened in August 2013 and later. I am just now coming up on 2 years for all of those. But I have a capital one that remains "open" on my reports even though it's been closed for 5 years. So that is helping my average age.

I did recently close my Jared card ($1500). Dots ($250) and children's place ($250) closed on their own. One from going out of business and the other because I didn't use it in the first 12 months. I also closed First Premeir after 18 months. Stupidly I should have kept it for the full 24 months.

You're saying that closed accounts will still report "ok" each month for 10 years? Some of my cards stop reporting with no use after a few months. Around this time is when I go buy a gift card so they will continue reporting..especially if I was given an increase during the time they weren't reporting.

[Anonymous]

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@Anonymous wrote:

You're saying that closed accounts will still report "ok" each month for 10 years? Some of my cards stop reporting with no use after a few months. Around this time is when I go buy a gift card so they will continue reporting..especially if I was given an increase during the time they weren't reporting.

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No they won't report any monthly payment history after you close it (the monthly payment history that has already been reported will remain), but they will help with your AAoA for 10 years after you close them. 

And I know Comenity is horrible about monthly reporting after I don't use their cards for a few months--they just quit updating until I use it again. 

[Anonymous]

Yes!! I hate it lol...just report...ha..

[Anonymous]

I am celebrating my 1 month apping break.. woo hoo! It also helps that I am focused on the closing on my house, so no new apps or accounts. I don't want to muck up my chances on owning my home. Hope everyone else journey to staying in the garden will go as smooth. Hang in there gardeners.

I think we should go for a sticky on this Thread, so other complusive appers can find there way to the garden.

[Anonymous]

I have apped for way to many credit cards in the last month. I have 22 inquires on transunion and 23 on equifax . I have no clue about experian  but probably around the same. I have received all but my 2 capital one cards in the last month. I have had those since December. Can someone give me some advice on where to go from here?

[Anonymous]

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@Anonymous wrote:

I have apped for way to many credit cards in the last month. I have 22 inquires on transunion and 23 on epitaxy. I have no clue about experience but probably around the same. I have received all but my 2 capital one cards in the last month. I have had those since December. Can someone give me some advice on where to go from here?

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It's time for you to garden and let most of those inquiries age off. 

[Anonymous]

When you say age off would that be two years?

[Anonymous]

Inquiries do stay on your credit report for 2 years, but I believe they quit affecting your score after 1 year. Every lender is different when determining what's a "recent" inquiry and what's not. Some might say 6 months, where others might say 2 years. With the amount of inquiries you have, it would probably be best to wait at least a year before applying for anything else, but that's just my opinion. As always YMMV.

[Anonymous]

Nothing between January 2010 and February 2014, then:

February 2014 - Local bank installment loan.

April 2014 - Credit card app, approved.

August 2014 - Credit card app, approved.

September 2014 - Credit card app, denied.

January 2015 - Credit card app, approved.

January 2015 - Credit card app, approved.

January 2015 - Credit card app, approved.

March 2015 - Lending Club installment loan.

April 2015 - Credit card app, approved.

April 2015 - Credit card app, approved.

May 2015 - Credit card app, approved.

May 2015 - Credit card app, approved.

June 2015 - Credit card app, approved.

Inquiries last two years:

TU - 6

EX - 5

EQ - 4

[Anonymous]

Do banks pay attention to what companies made the inquiries in the past year or so? Does 13 inquiries, 5 of them the same bank look better than 13 DIFFERENT credit card companies? I'd assume so on a manual review. You could state that some of them were for CLI since you are supposedly making more money and so on. Darn to have 5 and not 13 again, sigh...