Mission Lane Approval $1500

[Total80sKid]

Congrats on your Mission Lane approval 🎉

[gdale6]

Grats on your Mission Lane approval

[gingerflower]

Congratulations on your Mission Lane approval.  My sister is also rebuilding her credit a couple weeks ago was instantly approved for 1,000 accept her Apr is 21.9% but there is no annual fee and from what I gather after 6 months of excellent payment history you will receive a CLI. Congratulations on your approval . 👍

[FalconSteve]

Congrats!

[Demented1]

Congrats @Anonymous on your Mission Lane approval...enjoy the card!

@Ficoproblems247brings up a good point.

[GrandBay]

@Anonymous  do you have a car loan? if not, you should look into the SSL technique. This will help juice your scores. 

as others mentioned: w/your profile I would stay away from CreditOne and the other predatory lenders.

[gingerflower]

@Anonymous 

Regarding Credit one Amx my sister received an offer with a invitation code number which  said you are approved for $1000 with 0 annual fee . She took the offer and was approved instantly.  But, she already have one credit one account so it could be that she has an established credit history with Credit one.

[Mr_Mojo_Risin]

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@Anonymous wrote:

Hello

Have been receiving mailers from Mission Lane for the past year. Today I received another mailer and decided to bite the bullet. I have been in rebuild for about 18 months. 

APR - 26.9

Approval Amount - $1500

AF - $0

Since it had 0 AF, I thought the risk was worth it. I have not applied for any credit prior to today in 14 months. Just have been gardening and slowly watching my scores rise. Slowly is the word...

Here are some stats. I am curious to know from some people what I should do next to enhance my rebuild. I do not plan on applying for anything until the end of the year. So I am not in a rush. Just want to get some feedback on the approach and any other ideas.

I currently have the following:

NFCU Cash Rewards - Started as a secure card. When unsecured gave me a $2500 line of credit. Now up to $4500

OLLO - Invite. Started at $700 unsecured. Now $2900 line of credit.

Citi Diamond Secured - This one has been frustrating. It was secured in March of 2019 with $2500. Twice they have rejected my graduation. Both times 2 months before maturity date. Sort of disappointed that it hasn't graduated and probably one of the reasons I applied for Mission Lane. Do I keep? Cancel? Not sure the play here. 

Mission Lane - As stated above. APR is brutal. Won't spend much, maybe phone bill, but helps with utilization (curently below 10%) and maybe better opportunites down the line. 

Have pre-approval offers from Credit One Visa and  Credit One AMEX. But both have AF. Have heard some good and some not so good. So didn't move forward. 

Any suggestions would be great....

Thanks

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I would definitely consider expanding your Navy relationship down the road when you leave the garden again.

They're well-known to give out generous SLs on the 2nd card. 

IMO the More Rewards is great categories card, mine is used almost daily.

Congratulations on your success!

[Mr_Mojo_Risin]

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@coreyb80 wrote:

Congrats on the approval! With the path that you're currently on I would stay away from Credit One.  You're beyond needing them.

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Yeah, I would agree with this as well.

[Mr_Mojo_Risin]

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@Ficoproblems247 wrote:

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@coreyb80 wrote:

Congrats on the approval! With the path that you're currently on I would stay away from Credit One.  You're beyond needing them.

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^^^+1 to this right here! So many people get caught up collecting cards they do not need in a rebuild just because they got too excited about a pre-approval. You already have 4 revolvers, no more crummy rebuilders are necessary for you at this point. Keep gardening and watching those scores rise. Think about your spend and what makes the most sense for you. Set your sights on those cards and read and digest all you can about what you need to do to get your profile primed for an approval for them. Pull the trigger when you have things all set up to the best of your abilities for a successful approval. Set the bar high, and apply for what you really want. Don't go for the low hanging fruit just because it's easy. 

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Really good post here, nicely said.