A little stunned, Approved for USAA Visa

[ntx]

Thanks Jetsfan!

Actually I should have said bankruptcy in 2005, not 1995! 

NTX

[ntx]

As a followup, I was declined for the Chase Freedom card that I applied online for last Thursday the 2nd. .

The letter said "Your credit report reflects a bankruptcy."  Pulled from Experian.

Oh well. I saw that they asked about bankruptcy on the Freedom application. I checked Yes to that, so seems like they could have denied it automatically without an inquiry, if that is a cause of denial.

Seems strange that USAA didn't mind that for a $3K Visa.

My FICO scores on July 17th were:

EQ:  679

TU:  686

As of today, August 7th, they are:

EQ: 684

TU: 688

TU is dinging me because I have no recent use of credit, even though I do put things on there all the time. I pay off my Visa every month. Should I do that, then immediately add $20 or so back to it, so there's always some balance?

I have 6 inquiries that will fall off for FICO purposes by October 19th.. These were all related to buying a new car last year.

Should I apply for a Discover More card  now?  It's not that I want or even need the card itself. Just thought it may help my credit to have a different brand card from a different issuer.

Goal is to get a mortgage (FHA, under $75K) later this year or early next year.

Thank you,

NTX

[webhopper]

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@Juan123 wrote:

Just decided to get my foot into a nice bank and from everything i've heard USAA, NFCU,     And Penfed are the way to go,after getting denied for a CC at penfed,    and not qualifying for NFCU i joined USAA   without even opening a checking or savings account i applied for the USAA Visa.

Yea i know the APR is high but this is BY FAR my highest limit CC. my highest limit card right now is carecredit at $3000 but my highest limit Visa\MC is only $1500 >_< over 4x my highest limit >_<

Time to consolidate my other cards!

Approved Credit Limit	$6,200.00
Current APRs	Purchase APR 23.9% (Prime+20.65%) Cash Advance and Balance Transfer APR 23.9% (Prime+20.65%)

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Very nice CL....  a little high on the APR, but a nice approval nonetheless...  you may be able to get the APR reduced over time.

Nicely done!

[princechristian]

For some strange reason I assumed your credit scores would be a lot lower! Lol, you being stunned and all. But yes USAA have been approving higher limits recently.

Congrats!!

[ntx]

Another Update:

Applied for Discover More card onlne. Got an "under review" response, and called their number afterwards to expedite, per their website.

Spoke at length with a very helpful & friendly credit analyst, was approved for $1,200  

Not their best offer (the one shown on their site), but still, am "in" with another prime card at least (and I confirmed with the analyst that they all report the same to the credit bureaus, which is really all I wanted)

NTX

[Revelate]

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@ntx wrote:

As a followup, I was declined for the Chase Freedom card that I applied online for last Thursday the 2nd. .

The letter said "Your credit report reflects a bankruptcy."  Pulled from Experian.

Oh well. I saw that they asked about bankruptcy on the Freedom application. I checked Yes to that, so seems like they could have denied it automatically without an inquiry, if that is a cause of denial.

Seems strange that USAA didn't mind that for a $3K Visa.

My FICO scores on July 17th were:

EQ:  679

TU:  686

As of today, August 7th, they are:

EQ: 684

TU: 688

TU is dinging me because I have no recent use of credit, even though I do put things on there all the time. I pay off my Visa every month. Should I do that, then immediately add $20 or so back to it, so there's always some balance?

I have 6 inquiries that will fall off for FICO purposes by October 19th.. These were all related to buying a new car last year.

Should I apply for a Discover More card  now?  It's not that I want or even need the card itself. Just thought it may help my credit to have a different brand card from a different issuer.

Goal is to get a mortgage (FHA, under $75K) later this year or early next year.

Thank you,

NTX

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Hehe, already a little pregnant on that one and grats too; however, FICO just cares about number of tradelines... and I don't think underwriters really consider DIscover as either a positive or a negative on a manual review.  I suspect for most of the national lenders it's along the lines of "oh, them."

[ntx]

Thanks, and very true Revelate!   Something about closing the barn doors after the horses are out 

[JusdoNit]

Congrats

[ntx]

Thank you JusdoNit!  It's another step at least. I appreciate all the info that is shared here at this forum.