@Anonymous wrote:Ok guys I need some guidance because I obviously am not doing this right
Scores
EX 700
EQ 724
TU 705
Are these FICO 8 or 9 scores or VantageScores? If they're FICO 8 or 9, they seem a little low to me for the credit profile you've described. If you're paying all your credit card accounts in full every month before the statement dates, your FICO scores will be penalized for non-use of revolving credit. If neither of your AU accounts reports a small balance, your FICO scores will also be penalized. And if either of your AU accounts reports a large balance (high utilization), your FICO scores will also be penalized.
Allow one of your own credit cards to report a small balance ($20 or so), and one of the AU accounts to report a small balance ($20 or so), and pay every other card in full by its statement date, and you should see a nice rise in FICO scores. On the other hand, if either of the AU accounts continuously reports large balances, consider dropping the ones with high utilization to keep them from lowering your FICO scores.
I'm a member of navyfed and penfed.
Navy fed I have the Nrewards $500 limit and secured loan with the 8.9% pay down.
Is this nRewards card's $500 CL your entire secured deposit, or did Navy Fed already raise your original CL up to $500 recently?
Penfed I just have the $500 overdraft LOC.
I have a credit one $300 year and half old.
Captiol one secured card $200
Jareds $3000
I'm a AU on a Macy's 2,500 and home Depot 10,000 both are over 6 years old.
I have never missed a payment on any card and always PIF every month
The only balance that usually shows is the credit one AF of $10.00
Its been like 85 days on my Nrewards so i went to the pre-qualification and said all cards so I did cash rewards
Denied
"YOU'VE REACHED NAVY FEDERAL MAXIMUM UNSECURED CREDIT LIMIT.
Don't trust Navy Fed's credit card pre-qual page. It's not accurate.
It sounds like you applied a bit too early. You're eligible to apply for a second, unsecured Navy Fed credit card after 91 days from the date of approval of your nRewards card AND after 3 full, 25-day billing cycles of that card (commonly referred to as "91/3" by Navy Fed members). What date was your nRewards card approved, and what date was your first statement closing date?
If you want the best chances of getting approved AND getting a higher starting CL, wait until after your nRewards card graduates, apply for a second Navy Fed credit card, then lock your CRs, then go online, log into your Navy Fed account and select "Messages" at the top of the page to request a CLI for your just-graduated nRewards card (usually a new CashRewards card with a $2K CL). If you were approved for a second Navy Fed credit card, wait 91/3 from that card's approval date, lock your CRs and go online and request a CLI for your second Navy Fed credit card. My recommendations require you to continue to use all your credit accounts responsibly, maintain adequate income levels to support higher CLs, and maintain an adequate DTI level and you should see success.
I get tons of pre-approval for SCT store cards and high % VISA. which i don't accept on purpose because I want a decent card from my credit union
Very wise. You don't want trivial CLs that don't climb much and APRs that never dip into the "reasonable" range.
Penfed or navyfed
I always keep like 3-4,000 In my navyfed
And my direct deposit goes to penfed
What the hell am i doing wrong?
You seem to be following in my footsteps. A very wise friend reminded me long ago, "If you do not have patience, life will teach it to you." It's a good thing I started very young, because the slow pace of bureaucracies have added decades to my life.
Do I have bad credit ? I sure as hell feel that way..lol please help.
No. You're in the "Good Credit" range, but if you follow my advice above, I expect you to get into the "Very Good Credit" range (740 and above) very soon.
Oh never bankruptcy either
Oh on tbe paper my navyfed internal score is 283. Idk of that's good or bad
The range is 100 to 450. Most folks who report their scores in this forum seem to report a score around 300 +/- 20, so you're pretty near average.
After you've raised your FICO scores, check out Discover's pre-qual page and see if you're prequalified for one of their credit cards. If you are, apply for it and if you're approved, call Credit One to close your Credit One card. It's done its job as a starter card. If they say they'll waive the AF, keep the Credit One card for another year and use it once in awhile, but call and close the card before you have to pay another AF.
Good luck!
@Anonymous wrote:My Navyfed Nrewards is new. I was approved on February 5th and got the secured loan right after. My Nrewards was actually due today but I had a balance of $283 and paid that off couple days ago
My credit one account is my oldest at 15 months or so.
Capital one i was approved in December and just paid my 4th bill on 17th
Both AU accounts haven't moved much but I will do what you said.
I realize that I'm really new to credit and just need a bank to throw me a bone.
I was gonna go to a local credit union today Michigan schools and government and see if they can help me out and do the discover ore qualify.
Navy Fed may throw you a bone on May 26th or shortly thereafter.
Since your date of approval was Feb. 5th and first closing date was Feb. 24th, start looking at your credit limit in your Navy Fed online account on May 26th and keep checking it for the next few days to see if you get an automatic CLI. For those using the nRewards card responsibly, Navy Fed has been lifting the CL to $500 to $1,000 after the third full, 25-day billing cycle. You're already at $500, so you might not see a CLI until your nRewards card graduates on or about Aug. 25th, when you'll probably see a CL for $2,000 if your annual income and DTI support that level of credit. (I have a feeling you'll see a CL of $1,000 on May 27th, so please let us know if you get it. We're rooting for you!)
The first date you can apply for a Navy Fed unsecured credit card and have a chance of being approved is May 25th (after 91/3), but you'll increase your chances of a higher starting CL if you wait until after your nRewards card graduates to apply.
Excellent credit takes time and effort, but you've got a great start. Keep using your credit cards and making your monthly payments and you'll get there, my friend!
@Anonymous wrote:Yes it's secured I was approved on Feb 5th so I'm coming up on my 90/3 here shortly. Here is my new delemima well it's not a bad one but a choice
In my mail today I got ....
a pre approval for the good sam and a code to use. Probably from me just seeing if SCT would work and
A aspire pre approval $2,000 limit
But it's at 25.99%
$59AF and no other account fees.
It's a easy pass on the good sam but I'm not sure on the aspire. Yea it would be my highest CL but I feel like I'm so close to some decent cards with good rates. 🤷
I'd take a hard pass on both, there are much better options out there for you.
