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Ducks Unlimited Approved

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Frequent Contributor

Ducks Unlimited Approved

Hello,

 

I applied for Ducks Unlimited card last month and it went pending, I received a letter in the mail to send form SSA-89 which is to authorize the bank to contact SSA to verify your SSN. I did that and received an approval email. They approved me for $4,500 SL which I will lower to $2,000.

 

I am proud of being approved for this tough card and happy to earn 5% with no memberships or fees.

 

I had no INQ on EX in the last year but I have 13 total on the report. My score was 797 at the time of application but my bankcard score was probably 836 or so which I think they use for approval. I also had 3 new accounts in the last year and my oldest account was opened in March 2017 which confirms that people don't need long history to get this card.

 

Thanks,




Message 1 of 16
15 REPLIES 15
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Super Contributor

Re: Ducks Unlimited Approved

Congratulations on your approval!
Message 2 of 16
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Community Leader
Super Contributor

Re: Ducks Unlimited Approved

Congrats on your new card
Message 3 of 16
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Frequent Contributor

Re: Ducks Unlimited Approved

Great card, congratulations!!! 🦆
Present Day...Equifax: 767, TransUnion: 789, Experian: 753
Sept. 2016...Equifax: 652, TransUnion: 608, Experian: 597
PenFed CLOC: $500
Message 4 of 16
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Valued Contributor

Re: Ducks Unlimited Approved

Congratulations!

Why would you lower your limit though?



Message 5 of 16
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Valued Contributor

Re: Ducks Unlimited Approved

Congrats. You give me hope for getting this card later this year.

 

But, why lower the limit?


No derogs, but tons of inquiries and heavy credit-seeking behavior. In March of 2019, I had no open accounts, a charge-off, two collections, and scores in the low 500s. The only thing in my signature now that was on my CRs then was the old closed Exxon card.
Cards

Authorized user / Corporate / Auto loan

Card CLs total $81,100, not counting the AU card. In March 2019, card CLs totaled $0. In April 2019, card CLs reached $500. Since then, I received a lot of great advice on this board, as well as a lot of advice I didn't take, that is good for most situations, but not mine.
Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Message 6 of 16
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Mega Contributor

Re: Ducks Unlimited Approved

Congrats!

Message 7 of 16
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Frequent Contributor

Re: Ducks Unlimited Approved

For those asking why I will lower the limit. If you noticed the cards in the my signature most of them have low limits. My total limit was approaching $200k and while that looks and sounds fun it just doesn't make sense given my income and how no one will ever need that much limit. I was over extended which makes it harder to get more cards with lenders who look at total exposure and risk. Also if the economy slows down the issuers will start slashing limits right and left to minimize their losses.


tldr: I need my total limit to be relative to my income and minimze my exposure to get more credit cards later




Message 8 of 16
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Valued Contributor

Re: Ducks Unlimited Approved

Great job, p -- Congrats!

As to your lower limit explanation: I'll bet lenders wish more borrowers were like you and less like the majority of MF'ers. (I mean, more is mohr, right?) You, sir, are a beacon. (Or a unicorn Smiley Wink)

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (05/20/2020): FICO 08 EXP: 743; TU: 751; EQ: 759
2020 Goal Score: 760 across the board


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Message 9 of 16
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Valued Contributor

Re: Ducks Unlimited Approved

Do you, though? You just got approved for $4,500, so it doesn't seem to be an issue so far.

 

This is not a problem I have / something I have personal knowledge about. My total CLs are under a quarter of my income (under half if you include the AU card), but seems to me like a bridge you could cross once you reach it.


No derogs, but tons of inquiries and heavy credit-seeking behavior. In March of 2019, I had no open accounts, a charge-off, two collections, and scores in the low 500s. The only thing in my signature now that was on my CRs then was the old closed Exxon card.
Cards

Authorized user / Corporate / Auto loan

Card CLs total $81,100, not counting the AU card. In March 2019, card CLs totaled $0. In April 2019, card CLs reached $500. Since then, I received a lot of great advice on this board, as well as a lot of advice I didn't take, that is good for most situations, but not mine.
Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Message 10 of 16
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