Hey all, another first time poster novel here (I figured I like reading everyone else's, maybe someone can get some useful info from mine). I'm 32 yrs old and like most millennial's who went through the collapse, up until 6 months ago I avoided created entirely. The small history I did have (which didn't even count) was a closed chase checking account ($302) in 2014 and I had a small payday loan in 2013 ($2500) which was charged off and entered collections. I'm not too sure if it was reported as CK showed that I didn't have a credit score before 9/7/17, however when i checked my report it seems both accounts are on chex systems (the loan marked as "other loan") not sure the significance of that. I started digesting as much information I could from people's stories and credit building journey's on this site at that time. I do have a plan to get a mortgage in 5 yrs so i figured now was the time to start building the base, and seeing that I started so late and ck recommends 16-21+ accounts and AAoA will effect me in the future, I figured it was time to push the credit base building to a comfortable maximum. My wife and I opened a NFCU checking in 7/17 so I figured start there.
9/7/17 I went in to the branch 30 min before closing and having no clue as to what I was asking for sat down with the banker and applied for the CashRewards card, he had to call the backnumber for me but I was able to walk out with a newbie $500 SL. Knowing I wanted to start my base off at 3 cards to age together, I went over to walmart and applied in-store. I was given the call to verify message so I went home and called and was given the declined to no history message. I app'ed for discover same day as I had yet to gather information and formulate a cohesive plan on cards for new credit, I of course was given the "Unable to verify Identity" message for no history. That's when I found these forums and went to work (before that it was all youtube and google how-to stories). It took a few weeks but I felt I had a better understanding and on 9/27/17 I applied for Cap1 that accepts everyone and got the QS1 with a $300 beginner limit.
I let the "3 cards to start" dream go and figured I'd just wait 3 months for the NFCU CLI to be elligble on the CashRewards. I visited these forums every day along with the barberer's from pulling my hair out, and I found the best thing to do was to wait till account review for a soft pull increase. However my 3rd statement cut 12/23 and on top of setting up some utilities that did HP's I decided it really wasnt that big of a deal with my plan and decided to apply for a CLI on the cash rewards on 12/29 (I know, I know, the review was literally there). I applied for $5,000 since the max button went back home and I was given the my request was sent for review message, so reading all the research on NFCU at that point in time Navy seemed to be fond of giving out second cards if your CLI went to review. I app'ed for the Navy AMEX card thinking the risk is still insignificant to my plan and to my suprise I was approved for $9,700 CL. About a week later I recieved a letter from NFCU saying my CLI on the CashRewards had been declined for $5,000 but the increased to $1,500.
I figured no point in pointless apping after that so I waited till a few days ago for my fico score to generate as 3/07/18 marked the 6th month mark since opening my first account. A day later I checked all pre-approval sites and I decided 4 was the magic number so I apped for Chase Freedom (mainly to see if my checking charge off will stop me, I've heard they may be ran by different departments but i figured better check and know right away so I can plan around chase). I was declined and sent the letter in 7-10 days, it hasn't got here yet so I am not too sure if it's still too new (since chase likes a year of history) or if its my previous checking history. I chalked that up to loss and applied for AMEX everyday since I had a pre-approval. I was instantly approved and checking the site it said $1,000 CL, I read here you can do two cards on same pull so I app'ed for the SPG. Even though I wasn't pre-approved I needed a travel card and it is going away, I was approved for that as well on the site. I can't see the limit on that one yet but it is already in the mail so I will know shortly. I then applied for Discover again and was approved for $4,000 CL. Needing one more for my goal I applied for BOA travel rewards and was declined and sent the 7-10 letter. That one suprised me because I was pre-approved acording to them (I learned after to check for the fixed or vairable apr) so I held off a day and regrouped. I figured I had 6 major bank cards so a store card would round out and since I hit 2 denials i thought it was time. I app'ed for the Synchrony Marvel card and was given the 7-10 message, I did notice my address recorded wrong so I called the backdoor number a day later to make sure I can be sent my denial letter for recon. They asked me to verify my information and came back a minute later to say I was approved and the card would be mailed to the correct address.
Now if you are like me and did manage to read this far I know the thing you are going to want to scream at me is GARDEN GARDEN GARDEN GARDEN!!!! I completely plan to ride till my 1 yr mark with no more activity, and as I stated earlier I am completely aware this is an unconvential plan. I did want them all to age together though for max benefit and the plan was in the next 2 and a half years to have a 16 card base so I can let the inquires fall off two years after that and apply for a mortage with a 5 yr base. Now since we love stats here my stats are nothing crazy, I report about 45k (between my wife and I) yearly for annual and I don't own any assets or liabilities so I only report my $800 monthly rent. I however have been trying to max my score, I only reported 7% UTL before paying it off on one card and plan to let three cards report with 7% each. My credit karma when i first checked in 9/17 said FAKO was 650-658, my scores from here 2 days ago after all that applying read Eq-680 TU-708 EX-704 so I don't know what my actual starting point would be considered.Â Again I know I pushed the limits on speed (atleast I think I did but I'm sure people have been more extreme than myself) but that was the plan since I started so late. I wanted to share my story in case anyone like me was searching for data points on how quickly you can build a base, most stories you read people already have a history when they agressively start building. Sorry for the novel, for all you massive guru's out there let me know what you see, I'm always willing to recieve information being this late to the game.
First off, CONGRATS!
Wow, haha. I love how you get denied and search more to find a "new reasoning" to apply for more!
SOUNDS just like me!!!
BUt seriously, you dont need 16-21 cards or whatever they are saying.
Your 5 cards are perfectly fine.
Now, you may want to get a loan reporting, if you want 100% credit junkie scores.
But chill on the cards, GARDEN until mortgage!