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Gettington Approval

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Valued Contributor

Gettington Approval

Hey, guys! Smiley Happy

 

I am re-building my credit and decided to apply for a retail card for postive payment history. 

I tried my luck with Gettington (Webbank) -- since I had had an active account with Webbank already -- and was approved with a $300 SL.

 

Data points: Webbank pulled EX, which had 24 inquries. My scores -- and additional details about credit profile -- are in my signature below. Smiley Wink

 

Thanks for reading! Smiley TongueApproval Pic.jpg

Message 1 of 11
10 REPLIES 10
Established Contributor

Re: Gettington Approval

Congrats on the approval!  It is so nice to have someone finally say "Yes" after so many denials.  You have 24 inquires which is considereed extremely excessive, and I would guess most were denials.  How many of those inquiries were within the last 12 months?  The last 6 months?  I respectfully suggest you take a long time out from seeking new credit and "garden" for at least another year.  Doing that you will see a much better chance of being approved for mainline CC's and much higher limits.  I see that you have already reccognized that and want to refrain until May, 2020.  That is very sensible.

 

We ought to put this on the main myFico page as our motto but "Credit Rebuild is a Marathon, Not a Sprint."  Truer words were never spoken.  The faster you try to go the further behind you get.

Message 2 of 11
Valued Contributor

Re: Gettington Approval


@rbentley wrote:

Congrats on the approval!  It is so nice to have someone finally say "Yes" after so many denials.  You have 24 inquires which is considereed extremely excessive, and I would guess most were denials.  How many of those inquiries were within the last 12 months?  The last 6 months?  I respectfully suggest you take a long time out from seeking new credit and "garden" for at least another year.  Doing that you will see a much better chance of being approved for mainline CC's and much higher limits.

 

We ought to put this on the main myFico page as our motto but "Credit Rebuild is a Marathon, Not a Sprint."  Truer words were never spoken.  The faster you try to go the further behind you get.


Thanks for reply, rebently! Smiley Happy

 

20 of the 24 inquiries are over a year old.

I always preach to my fellow re-builders that Credit is a marathon -- not a sprint -- because it is absolutely true! Smiley Happy

Message 3 of 11
Established Contributor

Re: Gettington Approval

Have you attempted to deal with your 7 charge-offs?  They are a serious drain on your scores.  Are they paid? If not, is PFD an option? Can they be legitimately disputed?  If not, have you tried GW requests?

Message 4 of 11
Valued Contributor

Re: Gettington Approval


@rbentley wrote:

Have you attempted to deal with your 7 charge-offs?  They are a serious drain on your scores.  Are they paid? In not is PFD an option? Can they be legitimately disputed?  If not, have you tried GW requests?


They are all in a debt-settlement company. I started with 9 charge-offs -- I have 7 outstanding charge-offs as we speak. PFD is not an option because I am unable to PIF. One of the 7 accounts will be settled through a 12-month settlement agreement. Personally,  I am in no rush -- I am not planning on moving or buying a house any time soon. I just want to jump-start my re-build so that when my charge-offs are settled, I will hopefully be in mid 600s. I plan on starting the GW campaign after all the 7 accounts are settled.Smiley Happy

Message 5 of 11
Valued Contributor

Re: Gettington Approval

Congrats on the approval! Give it some time to let the INQs fall off and to let your account age a bit. You're doing great so far!


Scores - All bureaus 750 +/-
TCL - Est. $275K
Message 6 of 11
Community Leader
Mega Contributor

Re: Gettington Approval


@creditwarrior2317616 wrote:

Hey, guys! Smiley Happy

 

I am re-building my credit and decided to apply for a retail card for postive payment history. 

I tried my luck with Gettington (Webbank) -- since I had had an active account with Webbank already -- and was approved with a $300 SL.

 

Data points: Webbank pull EX, which had 24 inquries. My scores and additional details about credit profile is my signature below. Smiley Wink

 

Thanks for reading! Smiley TongueApproval Pic.jpg


Big congrats KidSmiley Happy. This is essentially a Fingerhut type program so use it wisely. I've been there before where I needed to start off with Fingerhut, no shame in that game. I would choose small items and pay in full and you'll get some nice credit limit increases every couple months. Some times we cant erase those foolish inquiries fast enough but eventually we get the cards we wantSmiley Happy

#ChaseCreditCardHobby Enthusiast
2022
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Message 7 of 11
Valued Contributor

Re: Gettington Approval


@AverageJoesCredit wrote:

@creditwarrior2317616 wrote:

Hey, guys! Smiley Happy

 

I am re-building my credit and decided to apply for a retail card for postive payment history. 

I tried my luck with Gettington (Webbank) -- since I had had an active account with Webbank already -- and was approved with a $300 SL.

 

Data points: Webbank pull EX, which had 24 inquries. My scores and additional details about credit profile is my signature below. Smiley Wink

 

Thanks for reading! Smiley TongueApproval Pic.jpg


Big congrats KidSmiley Happy. This is essentially a Fingerhut type program so use it wisely. I've been there before where I needed to start off with Fingerhut, no shame in that game. I would choose small items and pay in full and you'll get some nice credit limit increases every couple months. Some times we cant erase those foolish inquiries fast enough but eventually we get the cards we wantSmiley Happy


+1.YES! Smiley Wink

Message 8 of 11
Senior Contributor

Re: Gettington Approval

Congrats on your approval , Congrats on your rebuild also !!!

 

 

 

8-2019 / Fico 8 EX 8013 , EQ 8016 , TR 810
Amex ED 22k , CSP 17k , Discover iT 12.5k , Fifth Third Bank S2C 12k , BofA Cash Rewards 10k , Avianca Vida 10k , State Farm Good Neighbor Visa 10k , Citi DD 6k , Union Bank Rewards 5k
Message 9 of 11
Valued Contributor

Re: Gettington Approval


@xaximus wrote:
Congrats on the approval! Give it some time to let the INQs fall off and to let your account age a bit. You're doing great so far!

Thanks so much! Smiley Happy

Message 10 of 11
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