@Journeygod wrote:
I can understand your frustration, but you don't seem to understand the credit game very well.
She's got waaay too many cards that are carrying a balance. Even the au cards that are carrying a balance are hurting her score.
1. You really need to stop applying for cards and work on paying down those balances.
2. Ideally, you only want one card reporting with a balance somewhere between 1-3%
Given what I'm looking at, it looks like she's going to get herself in more debt and possibly trouble with those cards that are carrying all those balances.
And that's probably exactly what Cap One is thinking. They're a very conservative lender anyway and they tend to pull all 3 reports when you app.
So put all those balances together with her being in the low 700's (even 600 something on some) and a baddie reporting on TU and you can see why they don't want to take the risk.
Also, there are clearly other factors at work here. There is NO WAY a Cap One inquiry dropped her score 23 points.
-Good luck
Oh I understand the credit game quite well. And I can surely read the My Fico email update from Eq showing the inquiry and score change. Don't call me a liar!
And purposely we paid some bills in advance to get minimum spend and rewards and have an interest free period to pay them down.That is only on 2 cards and several thousand of that is merchandise we sell and liquidate over a 90 day period. All the sales go back on the cards.
And we have credit for a reason not just to brag about being at 1% utilization. And the balances are being paid just fine. I am not trying to be at 1%. Working to be at 8-9% which will be soon.
And I posted the reasons for the DW and I to build up higher lines of credit.
I have never stated that before here but in the 90's I was in the credit repair business. That is why I am so thorough in analyzing credit reports and know creative ways of getting credit.
These forums exist for us to help each other reach our credit goals, not talk down and demean posters.
The vast majority of you are rebuilding or trying to build credit, and many of you are much more aggressive in your credit building than I have ever been. My DW has minimal inquiries compared to many posters here because I am calculatingly cautious in where we apply,
I
I just read a thread today where a poster got two Capital One cards totalling $1500 in limits the day after a discharged bk.
I only participate in this forum to help in my goals and I try to share and give back in my postings when I think I can help someone.
If this demeaning and putting down is the way of the future on this forum (which I am seeing more of lately), then I will not post or contribute here anymore. It is counteproductive.
In any case, Just because your wife's FICOs are in the 700+ doesn't mean she will see an approval as a given. In the end they will go for the guy/girl with a 660 and a thick file to back up credit history, despite a baddie in the past before they go for the same with 700+ and a file thinner than a motel room wall. As someone who claims to have been in credit repair professionally you should know this. All she can do at this point is eat the inquiries, wait a few months to a year and try again when they have more credit history to back up a request for credit. (Application)