Mini app Spree at 700-720 Credit scores

[Anonymous]

*****Updates in red*****

So last August I started my credit repair quest at 531 average FICO.  I paid off all of my collections and credit cards, and today I pulled my scores and they range from 704-720.  So I am planning to do a mini app spree to get some cards I have been eye-balling for my financial goals.

1.  Travel - Chase Sapphire preffered - No offers for pre-approval - Approved for 9k

2.  Rotating Cash back - Discover IT - Successful pre-approval - Approved for 10k

3.  Other Cash back - Amex Blue Cash everyday - No offers for pre-approval - Decided to hold off on application

I also currently have 3-4 cards that I am going to request CLI. 

1.  Navy Fed Platinum current $500 limit - Going to request max - Max button gone, requested 25k, was countered with 1.5k.  Might recon.

2.  AppleFCU myrewards current $3000 limit - Going to request upgrade to signature card with 10k limit, or 5k limit on current card (max) - Have not requested upgrade yet, anticipate I will later this week.

3.  CapitalOne Quicksilver One current $850 limit - going to request upgrade to Savor card - No upgrade, no CLI

4.  CapitalOne Spark with 1% cashback $750 limit - going to request upgrade to Spark with 2% cashback. - No upgrade, no CLI

Lastly my income is over 180k from my job, and I have started a business that is bringing in no less than 60k additional income, so I am thinking about going for a business card or two.

What I am trying to figure out, is the best order to do all this, so as not to make one more difficult than the next.  I am hoping to request CLI's and card upgrades without Hard Pulls..  Also I am very surprised that I did not receive pre-approval for the Chase or Amex cards.  Thoughts on all this?

[sueblue34]

Wow congratulations on hitting the 700 mark in just a year that is a big improvement.
With that being said remember where you came from.
I would suggest requesting CLIs on the cards that you have if it’s only a soft pull.

I think you should take it slow and enjoy the 700 wave. Just reward yourself with one card with one hard pull. And just work on growing your existing accounts.

No need to rack up hard pulls one should be satisfying

[Anonymous]

So I went ahead with the Discover and Chase app.  Got instant approval for discover 10k, and chase in review.  Actually going to wait on the CLI's a bit.

[sueblue34]

Oh Chase is a good one so I’ve read. They are on my goal list next year. Congrat on the new card

[Anonymous]

Yeah the CSP is the top card on my list, as we are planning for a decent amount of travel this year, and will use the card for most relevant purchases.  I called in to the Chase lending department, but the folks that are handling my request are unfortunately out for the weekend.  The automated line still says 30 day review, which is much better than 7-10 day I've heard.  So I will call them again first thing Monday and see what happens!

[Anonymous]

I don't believe that Cap1 has allowed PCs to Savor, yet.

[BronzeTrader]

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wrote:

 So last August I started my credit repair quest at 531 average FICO.  I paid off all of my collections and credit cards, and today I pulled my scores and they range from 704-720.  So I am planning to do a mini app spree to get some cards I have been eye-balling for my financial goals.

1.  Travel - Chase Sapphire preffered - No offers for pre-approval

2.  Rotating Cash back - Discover IT - Successful pre-approval

3.  Other Cash back - Amex Blue Cash everyday - No offers for pre-approval

I also currently have 3-4 cards that I am going to request CLI. 

1.  Navy Fed Platinum current $500 limit - Going to request max

2.  AppleFCU myrewards current $3000 limit - Going to request upgrade to signature card with 10k limit, or 5k limit on current card (max)

3.  CapitalOne Quicksilver One current $850 limit - going to request upgrade to Savor card

4.  CapitalOne Spark with 1% cashback $750 limit - going to request upgrade to Spark with 2% cashback.

Lastly my income is over 180k from my job, and I have started a business that is bringing in no less than 60k additional income, so I am thinking about going for a business card or two.

What I am trying to figure out, is the best order to do all this, so as not to make one more difficult than the next.  I am hoping to request CLI's and card upgrades without Hard Pulls..  Also I am very surprised that I did not receive pre-approval for the Chase or Amex cards.  Thoughts on all this?

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What happened that got you the 531 FICO?  What was your income then?

[Anonymous]

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What happened that got you the 531 FICO?  What was your income then?

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Income was still 180k from the job (didn't have the extra from the business yet)...but to be honest, having a high income can in some situations be just as much of hindrance to credit as having a low income. 

Or perhaps my situation is unique...but considering I paid for everything out of pocket (including my wife's school), I did not really bother to pay attention to the few accounts I did have open. I never asked for CLI's (therefore my limits were very low and had high balance\utilization), a few collections and missed payments (again from lack of attention) and no credit monitoring to alert me to the many many errors (including pretty significant fraud) on my report.  In hindisght it seems absolutely silly to live that way, but it's just the way things were.

First thing I did was work to have the duplicate accounts and collection accounts from fraud removed.  I then paid the other collection accounts from old medical bills and had those removed, and lastly started paying my cc's in full, and getting my utilization down to 0.

So in summary, a little fraud, few collections, duplicate accounts, missed cc payments, and high balances.  Go figure.

[AverageJoesCredit]

Superb job on your new Discover Virtuoso. Double cash back 1st year should help you very much. Great thing about credit, we all can have second chances and now that you are wiser, your decisions will help make your credit all the srtonger. Having this forum doesnt hurt either.

[Anonymous]

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wrote:
Superb job on your new Discover Virtuoso. Double cash back 1st year should help you very much. Great thing about credit, we all can have second chances and now that you are wiser, your decisions will help make your credit all the sttonger. Having this forum doesnt hurt either.

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Completely agree, and yes thanks to this forum and feedback from members like you, I've been able to grow alot in a little bit of time!