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The Garden works! Approved for Chase Sapphire Preferred!!

Las787
New Member

The Garden works! Approved for Chase Sapphire Preferred!!

I've been reading the forums for a long time but this is my first time actually posting. When I started my rebuilding my score was 590. In 2014, my credit mix was:

Capital One Secured - $200
Capital One Platinum - $300
Capital One Quicksilver $300
Credit One Bank - $400
First Savings Bank - $350
1st Financial Bank (charge -off) - $2,332

I completed the credit steps program with capital which bumped me to a $600 credit lines for each card. Credit One also gave me CLIs to $600 and then to $850.

I applied for Merrick Bank card in 2015 because of the Double your Limit offer. I was approved for a $550 limit. I sped for Discover It card but was declined.

My charge-off fell off in March 2016.
Then my Merrick Credit line doubled to $1,100 in May 2016.

After reading the forums in early May, I combined the limits to my Cap One Quicksilver and Platinum for a total $1200 limit. I then closed the secured and platinum cards.

The same day I did the shopping cart trick and was approved for Victoria's Secret and Loft credit cards both with $500 limits. So no new inquiries.

This week, I received an email from Chase inviting me to apply for the Chase Sapphire preferred. I didn't think I even qualified because my credit score is only 633 and I have tons of inquiries due to purchasing a brand new car in September. Also I have a collection for a utility bill from 2013.

But I was already out of the garden big time so I figured what the heck, what's one more app. To my surprise, I was instantly approved with a 5k limit!

(Also FYI, my VS and Loft cards are not yet reporting and my new credit limits for Quicksilver One and Merrick Bank are not yet reporting.)

After 2 years of gardening and on time payments, my current mix is:

Chase Sapphire Preferred - $5,000
Capital One Quicksilver One - $1,200
Merrick Bank - $1,100
Victoria's Secret - $500
Ann Taylor Loft - $500

I'm thinking of closing the First Savings and Credit One accounts because of the low limits and annual fees.

Im back to the Garden for a long time now. Thanks so much to you guys for all the helpful posts. You are all definitely motivation and inspiration. Finding these forums was the best thing to happen with my journey.
Message 1 of 10
9 REPLIES 9
takeshi74
Senior Contributor

Re: The Garden works! Approved for Chase Sapphire Preferred!!

Don't just rely on the passage of time.  If you have derogs then hit the Rebuilding subforum and carefully research to see if you can do anything to address them.

Message 2 of 10
Las787
New Member

Re: The Garden works! Approved for Chase Sapphire Preferred!!

Thanks for your reply! I completely understand the need to address derive. I've been reading the forums regarding the collection. It's the only one on my report. I called the collection agency and they verified the debt was assigned not sold to them. I'm thinking of contacting the OC to see if they can recall the debt and request negative collection removed upon full payment. The other option is pay or GW to collection agency. I'm not sure which option would be best yet
Message 3 of 10
Musiclover
Super Contributor

Re: The Garden works! Approved for Chase Sapphire Preferred!!


@takeshi74 wrote:

Don't just rely on the passage of time.  If you have derogs then hit the Rebuilding subforum and carefully research to see if you can do anything to address them.


Congratulations on your successes!!!

 

Completely agree with takeshi. Get a copy of each credit report and go over it thoroughly. I found many things to correct and it took three months to do it, but finally all is  well. I still check often because occasionally something will pop up that is incorrect. For example, I have two accounts listed for Sam's Club on Equifax. I only have one account. Also, an old phone number popped up. I am about to correct that, as well. Just doing due diligence. 

 

Your call, of course.


Daily Drivers: Penfed Platinum Rewards; NFCU GoRewards; Discover..
Message 4 of 10
Las787
New Member

Re: The Garden works! Approved for Chase Sapphire Preferred!!

Thank you! I will definitely do that. I've been primarily working from my Experian report, so I will also request the other two as well and look for any discrepancies in reporting. I appreciate your advice!
Message 5 of 10
grillandwinemaster
Valued Contributor

Re: The Garden works! Approved for Chase Sapphire Preferred!!

Fantastic! Congratulations on th CSP a fine accomplishment indeed.

 

Yes, definitely closer down that credit 1 account. It has served its purpose and you no longer needed them.

 

Once you close it, keep an eye on it for the next few months to make sure no lingering interest charges pop up that you're not aware of. That could derail all your progress thus far.

 

Congrats again!


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 6 of 10
RonM21
Valued Contributor

Re: The Garden works! Approved for Chase Sapphire Preferred!!

Congrats on the success! There is more where that came from.
                

Total CL: $314.7kUTL: 2%AAoA: 6.8yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | DISC-40.6k | PENFED-38.4k | AMEX-37k | LOWES-35k | ALLIANT-25k | BARCLAYS-15k | CITI-13.7k | CHASE-10k

Message 7 of 10
degs138
Established Contributor

Re: The Garden works! Approved for Chase Sapphire Preferred!!

Wow, nice pull with a 633 score!  Chase must love you.


FICO TU 757 Eq 741 116,900 Total revolving Credit.
Favorite cards: AMEX BCP, US Bank Cash+, Chase Sapphire Prefered
Message 8 of 10
willventure
Contributor

Re: The Garden works! Approved for Chase Sapphire Preferred!!

Big Congrats on a great job.

Message 9 of 10
weedeb
Valued Contributor

Re: The Garden works! Approved for Chase Sapphire Preferred!!

Congrats to you!  You've done a very nice job rebuilding!  Smiley Happy

Message 10 of 10
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