Embarrassed to admit but

[Anonymous]

This is my first post and I've rebuilt through the rebuiding thread.  Embarrassed to admit that I have two charge-offs still on my report from about six to six and a half months ago.  I was able to keep up with three cards during that period and I still have them now.  I was getting preapprovals in the past from cards with very high annual fees and monthly fees (and I ignored them) but recently I have started receiving preapproval mailers from larger banks.  Is it better, even though it says pre-approved, to wait until another twelve months pass to apply for any new cards?

I only have the same three cards I didn't default on, they are:

American Express SPG - Was 4000 before my charge-offs six years ago and they balance chased me down to 900 where it sits now.  

Citi Diamond (formally a different Citi card they changed it from)- Was 3500 and they reduced it to 500 when my charge-offs happened and it is still there.

Chase Freedom (originally Providian, then switched to a general Chase card, then switched to Freedom) 4000.  Same Limit it always has been, was never reduced but I have my banking with them since I was in high school and I have had direct deposit with my employer the whole time. 

I do not have any balances on my cards.  My auto loan was paid off three months ago.  Nothing late for six years.  I have zero inquiries on all three of my reports according to the Government Annual pull I did in July.  I think my last INQ was with Verizon Fios on Equifax almost three years ago.  

I guess my question is do I still wait to apply after the two charge-offs drop off?  One is DOFD 8/2009 (0 balance, hasn't updated since 2010), other is 5/2009 (this one updates monthly with balance)

I hope I provided enough information.  Thank you for your help

- S

[Anonymous]

I applied and approved for a Chase Freedom 2 american Express cards three synchrony Card 3 comenity bank cards since February all with two settled for lss with Citibank. M bad marks are not from this year one is 2012-2013 so it is very possible to get all the credit you want but you have to steer clear of Citibank Bank of America and US bank they will not give me a thing

[Anonymous]

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@Anonymous wrote:

This is my first post and I've rebuilt through the rebuiding thread.  Embarrassed to admit that I have two charge-offs still on my report from about six to six and a half months ago.  I was able to keep up with three cards during that period and I still have them now.  I was getting preapprovals in the past from cards with very high annual fees and monthly fees (and I ignored them) but recently I have started receiving preapproval mailers from larger banks.  Is it better, even though it says pre-approved, to wait until another twelve months pass to apply for any new cards?

I only have the same three cards I didn't default on, they are:

American Express SPG - Was 4000 before my charge-offs six years ago and they balance chased me down to 900 where it sits now.  

Citi Diamond (formally a different Citi card they changed it from)- Was 3500 and they reduced it to 500 when my charge-offs happened and it is still there.

Chase Freedom (originally Providian, then switched to a general Chase card, then switched to Freedom) 4000.  Same Limit it always has been, was never reduced but I have my banking with them since I was in high school and I have had direct deposit with my employer the whole time. 

I do not have any balances on my cards.  My auto loan was paid off three months ago.  Nothing late for six years.  I have zero inquiries on all three of my reports according to the Government Annual pull I did in July.  I think my last INQ was with Verizon Fios on Equifax almost three years ago.  

I guess my question is do I still wait to apply after the two charge-offs drop off?  One is DOFD 8/2009 (0 balance, hasn't updated since 2010), other is 5/2009 (this one updates monthly with balance)

I hope I provided enough information.  Thank you for your help

- S

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If the 4K Chase Freedom card is good enough for you spending wise to get you through every month and PIF, I would just ride it out for 12 more months.   You'll get the best APRs at that time for cards you might get approved for today.  Also I'd put something on the other two each month and just leave a small balance reporting on one of the three.  Also if you are keeping that car you paid off, I personally wouldn't apply for a new auto loan until all this is cleaned up and you get whatever card or cards you want before your next auto loan.  Even though auto shopping counts as one inquiry, some lenders still count them all individually in their internal score.  

Best of luck.....almost there!

[Anonymous]

I would try a second card with Chase, and Capital One Work on more letters in the meantime.

[Anonymous]

No need to be embarrasssed! You're among friends here. I agree with the suggestion to apply for a Capital One card. I'd also say to garden, grow and nurture your current cards for 6-12 months and see where things stand at that time.

[OmarGB9]

I say garden. Gardening always helps.

[Anonymous]

At least the three remaining cards that you have were not totally shut down.  That's a good thing.  Don't be embarrassed, just press onward!

[NRB525]

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@Anonymous wrote:

American Express SPG - Was 4000 before my charge-offs six years ago and they balance chased me down to 900 where it sits now.  

Citi Diamond (formally a different Citi card they changed it from)- Was 3500 and they reduced it to 500 when my charge-offs happened and it is still there.

Chase Freedom (originally Providian, then switched to a general Chase card, then switched to Freedom) 4000.  Same Limit it always has been, was never reduced but I have my banking with them since I was in high school and I have had direct deposit with my employer the whole time. 

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When was the last CLD on the SPG card? You could try the SP CLI request through the AMEX site. You don't have to go for the 3x amount, just try to add $500 to see whether they take it or counter. It's possible it's a decline, but either way a SP and it gives you a good indication how your file looks to AMEX. Then try again after 6 months pass. And the SPG has good points earning, so be sure to PIF but go ahead and use it. The Freedom also, get those 5% category spend items for sure.

+1 to try Capital One, Quicksilver for example, to get started with them.

Good luck!

[Anonymous]

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@Anonymous wrote:

No need to be embarrasssed! You're among friends here. I agree with the suggestion to apply for a Capital One card. I'd also say to garden, grow and nurture your current cards for 6-12 months and see where things stand at that time.

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I agree!

[Anonymous]

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@NRB525 wrote:

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@Anonymous wrote:

American Express SPG - Was 4000 before my charge-offs six years ago and they balance chased me down to 900 where it sits now.  

Citi Diamond (formally a different Citi card they changed it from)- Was 3500 and they reduced it to 500 when my charge-offs happened and it is still there.

Chase Freedom (originally Providian, then switched to a general Chase card, then switched to Freedom) 4000.  Same Limit it always has been, was never reduced but I have my banking with them since I was in high school and I have had direct deposit with my employer the whole time. 

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When was the last CLD on the SPG card? You could try the SP CLI request through the AMEX site. You don't have to go for the 3x amount, just try to add $500 to see whether they take it or counter. It's possible it's a decline, but either way a SP and it gives you a good indication how your file looks to AMEX. Then try again after 6 months pass. And the SPG has good points earning, so be sure to PIF but go ahead and use it. The Freedom also, get those 5% category spend items for sure.

+1 to try Capital One, Quicksilver for example, to get started with them.

Good luck!

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Thank you for your help.  I've never tried to initiate a CLI with a lender before.  Does that mean I fill out another application for the increase?

AMEX reduced my credit line in 2010.