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Approvals

Senior Contributor

Approvals

Hey guys I have been out of the loop for about a year now, I started my rebuilding in 2015 my scores were absolutely terrible in the low 400s with tons of collection accounts and default on SL , well in one years time I got all my collections paid and removed then rehabbed my SL, but I got sucked into the credit card apping game and went overboard, got too many low limit cards , spent too much although my UTI never went over 50% I still owed around 11k in cc debt , so that is where I was at for the last year just threading water paying what I could every mth on time of course, bc no one ever educated me on credit it was easy to get in over my head and very fast. Anyway, my scores stayed around 630s for the last year bc of my UTI so I decided to come up with a plan and I stuck to it and paid off every bit of my cc debt just leaving a very very small amount on my Care Credit card , so as of today I’m finally OVER 700 -701 to be exact for Exp and 703 TU and 700 for Eq , with 1% UTI, so I decided to run some prequalifieds and got prequals for Amex, Cap one , Discover, and I had an invite to app for a Visa Siggy with Ussa , as of yesterday my highest limit was my CareCredit cc with 4K , all my other Visas and Mc were not over 1k , so I pulled the trigger with Usaa first , got an instant approval for 5k Visa Sig and then Discover, instant approval for 4K and then Amex, I got the review letter and then they immediately sent me a letter to my email saying it was declined, even though they had my score at 701, they said they couldn’t verify my address? We just moved last mth but I have already updated my add and even shows my new add for all 3 CBs , oh well I am very Happy with what I got and I learned my lesson the hard way and will not be putting anything on my cards unless I have the money to pay it right then !! Also one of my goals was always to have a Chase card and Citi , but I can’t get Chase prequel site to work and Citi says they don’t have anything for me! Any advice ? Which ones are the best to app for?
Message 1 of 29
28 REPLIES
Valued Contributor

Re: Approvals

Congrats on both approvals

7-2018 / Fico 8 EX 774 , EQ 781 , TR 785
Amex ED 22k , CSP 17k , Discover iT 12.5k , Fifth Third Bank 12k , BofA 10k , Avianca Vida 10k , Union Bank 5k
Message 2 of 29
Senior Contributor

Re: Approvals

Thank you! It’s been a long road! Just happy to see 700s now!
Message 3 of 29
Regular Contributor

Re: Approvals


@Aduke1122 wrote:
Hey guys I have been out of the loop for about a year now, I started my rebuilding in 2015 my scores were absolutely terrible in the low 400s with tons of collection accounts and default on SL , well in one years time I got all my collections paid and removed then rehabbed my SL, but I got sucked into the credit card apping game and went overboard, got too many low limit cards , spent too much although my UTI never went over 50% I still owed around 11k in cc debt , so that is where I was at for the last year just threading water paying what I could every mth on time of course, bc no one ever educated me on credit it was easy to get in over my head and very fast. Anyway, my scores stayed around 630s for the last year bc of my UTI so I decided to come up with a plan and I stuck to it and paid off every bit of my cc debt just leaving a very very small amount on my Care Credit card , so as of today I’m finally OVER 700 -701 to be exact for Exp and 703 TU and 700 for Eq , with 1% UTI, so I decided to run some prequalifieds and got prequals for Amex, Cap one , Discover, and I had an invite to app for a Visa Siggy with Ussa , as of yesterday my highest limit was my CareCredit cc with 4K , all my other Visas and Mc were not over 1k , so I pulled the trigger with Usaa first , got an instant approval for 5k Visa Sig and then Discover, instant approval for 4K and then Amex, I got the review letter and then they immediately sent me a letter to my email saying it was declined, even though they had my score at 701, they said they couldn’t verify my address? We just moved last mth but I have already updated my add and even shows my new add for all 3 CBs , oh well I am very Happy with what I got and I learned my lesson the hard way and will not be putting anything on my cards unless I have the money to pay it right then !! Also one of my goals was always to have a Chase card and Citi , but I can’t get Chase prequel site to work and Citi says they don’t have anything for me! Any advice ? Which ones are the best to app for?

Congrats on the rebuild. Looks like you've been through a lot and came through shining on the other side! 

 

Don't feel too bad. I've never been able to get Chase or Citi to give me a pre-qual.  Just Discover, AMEX, and Cap 1. I'm so afraid of cold apping so I guess I won't be trying for those right now.


FICO 8 Scores 07/17
FICO 8 Scores 07/18
Message 4 of 29
Senior Contributor

Re: Approvals

I completely understand about cold apping it makes me so nervous too, maybe I will just wait it out a bit on those.
Message 5 of 29
Regular Contributor

Re: Approvals


@Aduke1122 wrote:
I completely understand about cold apping it makes me so nervous too, maybe I will just wait it out a bit on those.

Right, since pre-quals aren't even a solid thing, I'm definitely not willing to give up a valuable INQ for the unknown lol.


FICO 8 Scores 07/17
FICO 8 Scores 07/18
Message 6 of 29
Senior Contributor

Re: Approvals

Yes exactly, my thing is I am stuck on the enternal low limit on all my cards that I have had for the past two years , I can’t get a credit line increase for nothing esp my synch Accts, maybe after some time of not having high balances they will change their mind
Message 7 of 29
Senior Contributor

Re: Approvals

Also you are right being that I just lost a ton of inquiries on all of my CBS I sure don’t want to gain a ton back , I have prequels for Cap one too but man that is a triple pull , I have one one measly 500 limit QS1 with them for about 2 years now
Message 8 of 29
Regular Contributor

Re: Approvals


@Aduke1122 wrote:
Also you are right being that I just lost a ton of inquiries on all of my CBS I sure don’t want to gain a ton back , I have prequels for Cap one too but man that is a triple pull , I have one one measly 500 limit QS1 with them for about 2 years now

We're in the same boat! My situation is very peculiar because I had all 500 level scores last year so I got secured cards for $200 a piece. I paid off all my collections/charge offs and got them completely removed.  So within a few months I went from the 500's to the 700's.  What that means is, I never got a chance to have those low and mid tier cards at all. No $300 or $500 limit cards  ever. Everything in my signature below, with the exception of Kohl's, is a secured card or one I got from a Shopping Cart Trick. 

 

So now that I have "good credit", I wanna make the best choices I can on the Prime cards I app for. 


FICO 8 Scores 07/17
FICO 8 Scores 07/18
Message 9 of 29
Valued Contributor

Re: Approvals

Congrats on your credit journey and your approvals.

Regarding prequals, I’ve only gotten one true prequalified mailer from Discover (aside from Amex once already being a member). The code on that didn’t work so I cold apped that too. If you think your profile supports it, go for it.

Regarding Chase, gardening (6-months)for a bit would likely get you the best SL. What’s your AAoA? Also, Amex probably pulled EX, USAA likely pulled EQ but what did Discover pull? Any derogs? Based on score alone, Chase or Citi is within your grasp.

Regarding Amex, perhaps see if you can recon with them by providing proof of identity and address.



Beginning Journey April 2017 – FICO 8

Current Scores May 2018 – FICO 8

Started this credit game with $8400 TCL in 04/17 now I'm at $150K+.
Message 10 of 29