Mini App Spree, Surprised at results and Car Repairs...

[LShan82]

I'm excited, I've been waiting to apply for credit for a few years now.  Maybe 3 or 4.  Now to be honest, I have not been diligent with correcting my credit report.  So eventually with time, things fell off or haven't been reporting (some lates, negative accounts over 7 years old).  3  years ago I was able to get a 0% interest auto loan from Mazda.  At the time my score was 680.  Stuff happens and they've dropped b/c of my school loans.  Everytime I've wanted to apply for credit I was told to be patient.  I was. finally, on a whim, I applied and was approved for Barclay and Penfed.  I've included below the snapshot from the penfed thread, just so you can see all of my info.   

Product(s) approved and Limit :   PenFed Promise  13.24%  $6500   Barclay Rewards Mastercard $1500 @ 25.24% (eeek!)

Applied not approved: Alliant Credit Card for $5000. 

Ex 08: 649  (new alert on 10/6 says collex of $795 added on 9/29 and score is 675 WTH?) 

Tu 08: 656
EQ 08 : 658
Penfed Nextgen:  750  

Instant or Review?:  Instant!!!!!

POI?(If yes, what type of proof of income):  None 

AAOA:  Not sure, they have my first car loan from 1997 listed.   Never late.  1 commenity account is less than a year.    I have a 19 year history. 
Derogs?: I have a hosptial collex that will fall off in 2018 for $795 and $257, but it's not showing on equifax  I have a cable collex, which should have been a PFD for $150

Things got really bad with my school loans in 2014 and I think I had up to 180 days late (medical emergency, LOA from work), they are currently deferred. 

Other than some lates from Bloomies in 2013 for 30 days and 2011 for 30 days.  knowing me, I forgot and paid a day late, b/c I rarely use this card.  

Util:  36%  I am an authorized user on two cards that are currently high.   I want to remove myself.  

Total EQ Inquiries:

                Last 12 months: 2 (Commenity and Nordstrom)

                Last 6 months:  If I add the ones from this week, not yet showing  it will be 4 (Penfed, Alliant -cking, sav, and credit app in one day, Barclay)
New Accounts in last 12 months: 1 (Commenity) 
                                 Last 6 months:  3(Barclay and Penfed and Alliant ck/sav account) 

Other random info: 

Myfico tells me the negative factors affecting my numbers are: 


Public record or collex.   3 with Exp and TU  1 with EQU

Non mortgage installment loan too high.  for all 3 bureaus.   I'm sure this is my school loans. 

No recent acitivity on credit cards  (HUH??)  for all 3 bureaus

Have few accounts in good standing   for TU and EXP   they have 5 accounts, but all are paid on time... SOOO??  what's the issue? LOL 

High utilization  Equifax only  reporting 36%

HEre is the good: 

Established credit history on all 3. 

Lmited the use of revolving credit  fon TU and EXP

Recently been paying bills on time  Equifax.   

SO here are my questions...   Should I recon with Alliant?  Should I ask for CLI for Barclay?   Should I ask for Platinum reward for Penfed???  


Now, I was going to apply for NOrdstrom, b/c I love that store, and apply for Sears b/c I need new brakes and they are having a 0% for 6 months special.  Now I have been trying to get my money together to pay for the repairs with cash but ish keeps coming up.  For instance, I needed tires, bought them without issue, found a great deal.  Found out my wheel was bent... need another $200 bucks.  On top of already needing front/back brakes (cost through dealer ~$800).   *sigh*  Found an alley mechanic that would use my dealer parts, and would charge about $500 for brakes.   Cool, got that together, but haven't changed them yet, and my windshield wipers go out.  I now need $740 through dealer (motor and linkage), but had to spend $130 for the diagnostic which can be applied to $740, and the same alley guy can do it for $465.   *SIGH*   Btw, alley guy is legit, he has his own business and it's not in the alley. LOL  It's just not a pep boys, midas, or dealer place.  

So here is my question about repairs.  Put everything  $465 for wipers, ~$500 for brakes, and ~$200 for wheel on Penfed card?   with my local mechanic?   and pay 13% interest.   

OR 

go to Sears for Brakes, at 0% for 6 months (haven't applied yet, fingers crossed though), but the brake job will cost $750  (same as dealer btw).  and put the rest $665 on Penfed card.   Or to utilize the $130 from the diagnostic, go to dealer and pay $610 for wipers through them (origianlly $740), and pay for wheel, total on pen fed $810.

Here are the scenarios

Sears  $750

PenFed $810 (wheel $200 and $610 wiper through dealer)

total

$1560

OR

Sears $750  (Brakes at 0%)

PenFed $665 (Wheel $200 Wiper $465 through local mechanic)

Total debt

$1415

OR

Everything done at local mechanic all on Penfed

$465 wipers

$500 brakes

$200 wheel 

Total debt

$1165   

Am I saving any money by paying more, but without interest going through Sears?   Should I just let the diagnostic credit go and not get anything done at dealer?  

I know that's all complicated, but I had to get it all out and see it on paper.  

OH one last thing.   I'm about to apply for NFCU, do you think they'll give me a card?  That's the last one I'll apply for. 

[LShan82]

My History here...  


looks like my first post was in 2011. My Nissan broke down and I was looking at car loans.   Looks like I had a preapproval for Road loans at 13%.   scores were:

EQ623

Ex 666

TU 612

---2 collex (hospital),  2 judgements.   Probably 7 good accts and 7 bad (meaning lates) 

 I waited two years to buy a car (bus, train, el, and paying for rentals) and got 0% score was 680.  

I looked at a post from 9/2015.  Scores were:
EQ08  641

TU08 625

EXP08 607

---2 judgements fell off.   3 collex (2 hospital 1 cable)   I'll say 7 baddies (lates)  and 7 good.  I don't remember actual number. 

Current: 
Some late baddies have fallen off and it looks like my medical collex will fall off 1/2017.   I'm not touching that.  LOL  Matter of fact, I had a small collex go to the same collection agency (but not reported) and I called to pay it off.  THey kept trying to bring up this old one. I was like I don't know what you are referring too, I am only calling about, and will only talk about acount # for $43.   They finally said ok, and took my payment.  LOL 

I wonder when or if I'll ever be able to apply for Citi or Amex again.  I had issues with Amex, eventually paid it off, but I can't remember if it went to collex or not.   But this was well over 10 years ago.  Same with Citi.  They did go to collex, and I honestly don't know what happened to that one.  OMG, that is horrible LOL.  Discover and Cap One took me to court.  But they've fallen off.  Trying to get them to give me a deal.   but I won't dare apply to Discover or Cap One.  TBH,  I think I'm getting Cap One and Citi confused.  I'll have to look at my files.  But it was all over 10+ years ago.  

 Should I try for Amex or CITI? 

My goals for the rest of the year are to sacrifice and build.  It's been a rough few months, and I don't want to be in this situation again. I want a certain amount saved up, no frivilous spending, and good credit. 

[Anonymous]

Congrats on all of your success!! Have you thought about CarCare One through Synchrony? They also offer special financing and can be used at multiple car repair/tire shops. That way you do not have to go to a specific garage to get everything done. You can get estimates from multiple places that take the card. Good luck!!

[LShan82]

Thank you so much!!!

From what I read, I was hesitant to try Synchrony.   I'll read a little bit more.    But at this point, I just want the car fixed and not have to think about it anymore.   I've been dealing with this since May trying to build the cash to fix repairs.  

[Anonymous]

Congratulations on your success, and I am excited for you as well!

[LShan82]

A quick update: 

I apped for Amex Blue Cash Rewards and was approved for $4000

I apped and was denied for Nordstrom, but did a reconn and was approved, but I don't know limit yet. 

I apped and was denied for Blispay, but denied again through my reconn.  They said that my collex's were the issue.  One of mine will fall off in January. 

New Scores: 

Ex 08: 688 

Tu 08: 675
EQ 08 : 675

[pizza1]

wow, thats a lot of detail lol..thank you for taking the time to explain it all! I would put my repairs on a card that has a %0 purchase offer if needed. With Navy...are you a member already? Congrats on your success!! Those are nice cards and decent SL too!

[LShan82]

LOL   Thanks, Pizza.   I needed to write it out so I could see it, and I wanted all of my histories in one place so I could see the progress.  
As far as repairs, I went to the local mechanic on penfed.  I only paid 537...  I'll have that paid off soon. I missed out on reconning with Alliant b/c it was past the 30 days, but I'll try for that again later.

Regarding Navy,  I'm going to sign up the Navy League way.   I haven't done so yet b/c my license doesn't match my address.