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Wish I knew then what I know now


Wish I knew then what I know now

When I first began my credit journey I should have come to these forums before making some mistakes I now regret.


1. Coming out of chapt 7 bankruptcy discharge back in 2010, I was not aware that my attempt to dispute a single 30 day late on my mortgage with Chase would cause Chase to completely remove my 11 year mortgage history from all three credit repositories. Their explanation was that they had not completed their end of my signed reafirmation agreement at the time of my discharge. This would cause my length of credit to tank. (I am considering litigation is proving to be significant barrier to breaking into the 700's and an unfair sanction) My only alternatives to remedy this situation would be to reopen my BK which would kill my ability to get a mortgage for another 2 years as it would now show me recently out of BK.....not an option. I could refi, but then again would kill my credit length as well.... damned if I do, damned if I dont. 


2. Had I known better, I would have shied away from Capital One Platinum Visa with it's $1000 CLI with a $500 increase after 6 months of ontime payments. Although I have not yet applied for any other Capital One cards, I tend to believe this has me in Cap 1's dungeon for the forseeable future. (Not quite sure where to go from there at this time)


3. I would have said no to applying for a JC Penny Card while standing in the Black Friday Line as this along with my Wayfair card pretty much screwed me on the Chase 5/24 rule. Then again since I BK'd on a Chase card back in 2010, I figure my chances of obtaining a Saphire Rewards card is dead anyhow.


4. I was recently approved for a American Express Gold Rewards card with a 25000 Point Sign On when I probably could have gotten the Platinum Rewards with 60,000 points ( If anyone knows a work around on that let me know)


Current Fico 8 Scores: EQ 691, TU 693, EX 672


Approvals So Far and Balance as of 2/01/18

Wayfair -  $0 ($2000 CLI)

JCP- $0 ($900 CLI)

TTCU - $0 ($2000 CLI)

Cap1- $0 ($1000 CLI)

Discover It Cash Back - $0 ($6000 CLI)

AMEX Gold Rewards - $400 ($6000 CLI)


All the above cards were approved within the last 6 months.

Any advice on where to go from here would be appreciated.

Message 1 of 4
Regular Contributor

Re: Wish I knew then what I know now

2. You can PC that platinum visa into a Quicksilver or venture rewards. Whatever suits you. Every six months you can ask for a soft pull CLI. So you can grow that one with time. I’ll leave the rest for others who have more experience with it. 

Starting Score: 600
Current Score: Exp = 703 Tran = 706 Equ = 710
Goal Score: 800

Take the myFICO Fitness Challenge
AAoA Exp = 12.2 Equ = 7.5 Tra = 7.4
Inquiry Exp = 1 Equ = 0 Tra = 2
Message 2 of 4
Mega Contributor

Re: Wish I knew then what I know now

Congrats on your approvalsSmiley Happy

Your thread title is the story for most of usSmiley Happy
Message 3 of 4
Valued Contributor

Re: Wish I knew then what I know now

I would much rather get 25k for the PRG than 60k for plat.
Why? 25k mr for no fee, vs 60k for $550. So what if it has an extra $100 airline reimbursement....

Now, if the 100k offer like I got lucky with was around. I’d take that. But not 60k
NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 4 of 4
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