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Approved! PenFed Pathfinder, Citi's BB Visa & PayPal MC...

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csl1
Contributor

Re: Approved! PenFed Pathfinder, Citi's BB Visa & PayPal MC...


@SEAlifer wrote:

Congrats on the approvals. Was there any reason the Cap One Venture One $300 limit was terrible so you cancelled it but you were cool with $300 from PayPal?


Yes, I'd researched both cards here on MF before applying. The PayPal MC is commonly issued with a $300 limit, but grows steadily (and sometimes even generously).

 

The CapOne Venture1 (a travel card requiring heavy spending in order to be worth it) is usually issued with a CL of way more. I called the Recon line to ask why the limit was so low, and why I wasn't being offered a SUB. Even the rep was baffled by my offer. His confused reaction led me to think I had been shuffled into another subpar card group that may not grow. Rather than try and churn 1000s of dollars through a $300 card, I decided to just cut my losses. It cost me a 3-bureau HP, but that's all the frustration I was willing to bear, especially for a hard-to-understand, stubborn lender like Cap1.

☞ Credit Cards: NFCU AmEx, NFCU Visa Signature, PenFed Pathfinder Visa, Truist Enjoy Cash, Discover It, Capital One SavorOne, Citi BB Visa, Paypal MC, PayPal Store Card, CareCredit, Cap1QS1
♛ Total Credit Lines: $52,750
⚖ Chapter 7 Discharge: October 2018
☼ Credit Scores: Mid to High 600s
☮ Gardening As of May 13, 2022

Message 11 of 19
kittycreditmeow
Frequent Contributor

Re: Approved! PenFed Pathfinder, Citi's BB Visa & PayPal MC...

Congrats on the approvals. Do you mind me asking how many inquiries you had when you did your recent apps? And also, when you closed your other builder cards, how did it impact your scores? I'm curious because I plan to close out some of mine later on due to the annual fee's. 

Message 12 of 19
CreditAggie
Community Leader
Super Contributor

Re: Approved! PenFed Pathfinder, Citi's BB Visa & PayPal MC...

Congratulations on your approvals!

Current Cards (in order of approval):

         
Current FICO 8 | 9 (April 2024):  
Credit Age:  
Inquiries (6/12/24):  
Banks & CUs:

Message 13 of 19
csl1
Contributor

Re: Approved! PenFed Pathfinder, Citi's BB Visa & PayPal MC...


@kittycreditmeow wrote:

Congrats on the approvals. Do you mind me asking how many inquiries you had when you did your recent apps? And also, when you closed your other builder cards, how did it impact your scores? I'm curious because I plan to close out some of mine later on due to the annual fee's. 


Hi @kittycreditmeow! Yes, here are the DPs:

  • Total EQ Inquiries: 7
  • Last 12 months: 2
  • Last 6 months: 2
  • New Accounts in last 12 months: 4
  • Last 6 months: 2

It's hard to gauge the actual impact to my credit scores when closing the rebuilders because my scores were also impacted by inquiries and opening new accounts. The graph below (captured a few moments ago) doesn't really show a lot of dramatic movement. I'll be curious to see what happens when my score updates again on 4/3/2021.

Screen Shot 2021-03-19 at 5.05.43 PM.png

Hope this helps. Smiley Happy

☞ Credit Cards: NFCU AmEx, NFCU Visa Signature, PenFed Pathfinder Visa, Truist Enjoy Cash, Discover It, Capital One SavorOne, Citi BB Visa, Paypal MC, PayPal Store Card, CareCredit, Cap1QS1
♛ Total Credit Lines: $52,750
⚖ Chapter 7 Discharge: October 2018
☼ Credit Scores: Mid to High 600s
☮ Gardening As of May 13, 2022

Message 14 of 19
cashorcharge
Community Leader
Super Contributor

Re: Approved! PenFed Pathfinder, Citi's BB Visa & PayPal MC...

That's terrific!  Congratulations on all your approvals!! 🎉🥂

Message 15 of 19
firefox100
Valued Contributor

Re: Approved! PenFed Pathfinder, Citi's BB Visa & PayPal MC...

 

 


@csl1 wrote:

Hello, fellow credit card appers!

I've been rebuilding my credit since a Bk7 discharge in October of 2018. I'm thrilled to share that my rebuild has been going well, and my FICOs are in the high 660s to high 680s. I've been apping over the past month in order to replace some rebuilders with better cards and recently came away with the following. (Income $84k; Util 3%)---

  • PenFed Pathfinder ($5,000) -- Approved today!
  • Citi's Best Buy Visa ($2,000) -- Approved on 2/23
  • PayPal Cashback Mastercard ($300) Approved on 2/22
  • Discover It CLI (from $2,300 to $2,800) (Increased in late Feb.)
  • This brings my aggregate available credit to $29,350. See my siggy for my existing card line-up.

The following requests were declined:

  • NFCU CLOC (too many inquiries, BK7 still reporting)
  • NFCU CLIs (declined for both cards. I've hit their internal limit.)
  • Citi Secured Card
  • Cap1 Venture One (Note: they actually approved me for this card with a $300 SL, no SUB, maximum APR. Yes, you read that right-- three HUNDRED dollars and no SUB. I found this disheartening and closed the card before it arrived in the mail.)

Since starting my rebuild, I've closed the following cards. (Note, I'm aware of the common wisdom regarding AAoA... I'm in my 40s, have student loans that have been reporting for many years, and am not really worried about the impact to my credit score where AAoA is concerned):

  • First Savings, Opened 03/2019, Closed 02/2021 (Annual fee. Not worth renewing.)
  • CapOne Platinum, Opened 5/2019, Closed 2/2021 (No perks. Bucketed card.)
  • Ikea, 02/2019 to 02/2021 (closed because I don't want to have retail cards anymore)
  • First Premier, Opened 12/2018, Closed 12/2020 (Annual AND monthly fee. Couldn't wait to get rid of it.)
  • Fortiva, 04/2019 to 09/2020 (Annual and monthly fees galore.)
  • Wayfair, 01/2019 to 10/2020 (Closed by lender.)
  • Credit One Bank, 01/2020 to 09/2020 (I closed the account because they don't offer autopay, which -- for me -- was just a disaster waiting to happen.)
  • Overstock, 06/2019 to 08/2020 (I closed the acct because they reduced my CL from $250 to $150)
  • Indigo, Opened and closed in 01/2019 before activating the card. (A $99 AF on a $300 CL seemed like a really bad idea, even as a rebuilder with a newly discharged Ch7.)

Next on the Chopping Block:

  • Capital One QS1 ($1,500) - I'm planning to close this later in the year before the AF is billed in December. The credit line on this card hasn't budged in two years. No upgrades or PCs are ever available for me. This lender can kiss my grits.

What's Next? To be honest, I have everything I need when it comes to credit. I have a good daily card (NFCU Amex), a good travel card (PenFed Pathfinder) and a few cards from prime lenders that will grow with me over time. The only other thing I could possibly want (purely for vanity reasons) would be an AmEx Gold Card-- which I'm not eligible for until after October 2023. So, I'll be doing some long-term gardening to help shore up my credit profile. I'd love to buy a condo in another couple of years, so I'll be focusing on building the kind of profile that will make that dream happen.

 

AND -- Although I'm constantly lurking these boards, I rarely post here and am not sure when I'll write another update. So please-- let me say THANK YOU so much for showing me how to rebuild my financial reputation and my relationship with money. I can't express how grateful I am, and how much I owe to all of you. Heart


congratulations keep up the good work.

Message 16 of 19
Anonymous
Not applicable

Re: Approved! PenFed Pathfinder, Citi's BB Visa & PayPal MC...

Awesome! Congrats on all the good news. I love PenFed!

Message 17 of 19
BAD_UP
Established Contributor

Re: Approved! PenFed Pathfinder, Citi's BB Visa & PayPal MC...

Congrats on your Multiple Approvals and Rebuild 🎉👍




Starting Score: 541
Nov 15 2020 score: EQ FICO8 635, TU8 636, EX8 644
Dec 15 2020 score: EQ FICO8 633, TU8 658, EX8 661
Jan 15 2021 Score EQ FICO8 698, TU8 689, EX8 706
Feb15 2021 Score EQ FICO8 704, TU8 702 , EX8 712 Goal Score: All Scores 760+,

In the garden since 1/28/21
Recently App. 1/3/21 & 1/23/21
What will you attempt to do if you knew could not Fail?
Message 18 of 19
Anonymous
Not applicable

Re: Approved! PenFed Pathfinder, Citi's BB Visa & PayPal MC...

Congrats on your approvals, and wishing you continued success in your rebuilding journey 🎉👍👏.

Message 19 of 19
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