Adding CC and installment TL with Fed Tax Lien with Barclay's or others?

[rebarrien]

Hello. I am new here and trying to increase my overall CL and add a 3rd and 4th TL.

My direct accounts:

Chase, Freedom, opened 3/2006, CL $5000, $0 balance, perfect history, never late

Capital One Quicksilver, opened 8/2012, CL $7,500, $750 balance, perfect history, never late

No other trade lines (prior car loans and other TL fell off my report at 7 years)

My score info:

myFico.com:  695 (I believe it says Equifax FICO)

TransUnion.com:  895B  (from TransUnion 7 day trial - I think this is a Vantage but not sure)

CreditKarma:  662 (it says TransUnion score)

CreditKarma:  816 (it says Vantage score)

CreditKarma:  878 (auto score)

My baddies:

3 federal tax liens, totaling $31k, all filed 12/2008, will not be off for another year

Recent actions:

Just added as a legitimate Authorized user, GM Capital One CC, opened 2/1993, CL $4,000, $0 balance, perfect history, never late over last 21 years.  The card has not been received yet and I don’t know what impact it will have on my Fico, if any.  I am not expecting it to impact my TU or Vantage because I read Fico is only one that might be impacted.

Goals:

1.Increase my overall available CL from $12,500 (7500 with capital one quicksilver, 5000 chase freedom) (my utilization will increase this year due to my job; although I pay off my statement balances in most months, when I have corporate expense reimbursements, it drives up my average utilization to 60%.  -In some months, my average balance can be $4,500 or so.  Capital One previously increased my CL from $5,000 to $7,500 six months ago, but declined another a January 2014 CL increase request to $10,000)

2. Add a third TL revolving CC – with an open tax lien, I am thinking the only card I may be add is a Barclays reward for average credit or a Navy Federal Credit Union CC but I don’t have a qualifying family member. ********anone else who has done this and with who?

3. Add a fourth TL installment loan (I can’t drive anymore so auto loans are out)

[myjourney]

Are the liens paid if so you may want to try the fresh start program to remove them faster from CR's?

[efranklin23]

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@rebarrien wrote:

Hello. I am new here and trying to increase my overall CL and add a 3rd and 4th TL.

My direct accounts:

Chase, Freedom, opened 3/2006, CL $5000, $0 balance, perfect history, never late

Capital One Quicksilver, opened 8/2012, CL $7,500, $750 balance, perfect history, never late

No other trade lines (prior car loans and other TL fell off my report at 7 years)

My score info:

myFico.com:  695 (I believe it says Equifax FICO)

TransUnion.com:  895B  (from TransUnion 7 day trial - I think this is a Vantage but not sure)

CreditKarma:  662 (it says TransUnion score)

CreditKarma:  816 (it says Vantage score)

CreditKarma:  878 (auto score)

My baddies:

3 federal tax liens, totaling $31k, all filed 12/2008, will not be off for another year

Recent actions:

Just added as a legitimate Authorized user, GM Capital One CC, opened 2/1993, CL $4,000, $0 balance, perfect history, never late over last 21 years.  The card has not been received yet and I don’t know what impact it will have on my Fico, if any.  I am not expecting it to impact my TU or Vantage because I read Fico is only one that might be impacted.

Goals:

1.Increase my overall available CL from $12,500 (7500 with capital one quicksilver, 5000 chase freedom) (my utilization will increase this year due to my job; although I pay off my statement balances in most months, when I have corporate expense reimbursements, it drives up my average utilization to 60%.  -In some months, my average balance can be $4,500 or so.  Capital One previously increased my CL from $5,000 to $7,500 six months ago, but declined another a January 2014 CL increase request to $10,000)

2. Add a third TL revolving CC – with an open tax lien, I am thinking the only card I may be add is a Barclays reward for average credit or a Navy Federal Credit Union CC but I don’t have a qualifying family member. ********anone else who has done this and with who?

3. Add a fourth TL installment loan (I can’t drive anymore so auto loans are out)

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Is the federal tax lien paid or unpaid? 

[efranklin23]

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@myjourney wrote:

Are the liens paid if so you may want to try the fresh start program to remove them faster from CR's?

---

MJ, you're real quick 

[rebarrien]

no, the are not paid yet... in dispute.  but anticipatign a pay down to $25k then request a withdrawal after several payments. but it may be another year  by that time. 

i know about the fresh start increasign to 50k from 25k, but the installment agreement requires yout to pay it down before the statute of limitations runs out and mine are 5 years into a 10 year collection statute.  there is a change the final balances will be lower anyway but we are workign through all of that. 

[myjourney]

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@efranklin23 wrote:

---

@myjourney wrote:

Are the liens paid if so you may want to try the fresh start program to remove them faster from CR's?

---

MJ, you're real quick 

---

This time

you'll get me next time Lol

[myjourney]

---

@rebarrien wrote:

no, the are not paid yet... in dispute.  but anticipatign a pay down to $25k then request a withdrawal after several payments. but it may be another year  by that time. 

i know about the fresh start increasign to 50k from 25k, but the installment agreement requires yout to pay it down before the statute of limitations runs out and mine are 5 years into a 10 year collection statute.  there is a change the final balances will be lower anyway but we are workign through all of that. 

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It's really hard to be approved with unpaid tax liens sorry 

Barclay is a good choice with paid tho

[rebarrien]

that was my suspicion that absoluely NO ONE would provide me a CC or Installment with existing tax lien.  however, capital one gave me their cash rewards no annual fee for $5k instantly and increased it to $7,500 within six months WHILE I had the tax liens.   i was hoping, as worked to get the liens resolved and withdrawn, that someone in the community knew of another institution (perhaps Barclays or other) that would since capital one did already.

[efranklin23]

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@myjourney wrote:

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@rebarrien wrote:

no, the are not paid yet... in dispute.  but anticipatign a pay down to $25k then request a withdrawal after several payments. but it may be another year  by that time. 

i know about the fresh start increasign to 50k from 25k, but the installment agreement requires yout to pay it down before the statute of limitations runs out and mine are 5 years into a 10 year collection statute.  there is a change the final balances will be lower anyway but we are workign through all of that. 

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It's really hard to be approved with unpaid tax liens sorry 

Barclay is a good choice with paid tho

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+1 to this. Maybe you can try your luck by getting another Chase card (through recon if possible) but chances are very slim

[efranklin23]

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@myjourney wrote:

---

@efranklin23 wrote:

---

@myjourney wrote:

Are the liens paid if so you may want to try the fresh start program to remove them faster from CR's?

---

MJ, you're real quick 

---

This time

you'll get me next time Lol

---

Indeed