Advice?

[Anonymous]

Howdy.  New to the site and forums.  I've read up on so much I think I've run out of room for what I've learned!  I'm in the process of rebuilding credit.  Nothing too egregious, thankfully I've avoided bankruptcy, but have had maxed cards for a good portion of 2015 into mid 2017.  All lower level cards/limits.  Score was down due to mostly opening a business (automotive repair) so there were multiple hard inquiries for parts houses, oil vendors, etc.  Things went south as a business partner, as they sometimes do, but made it out relatively unscathed.  There were bills due when we closed and I used my own credit cards to pay those bills so they didn't hurt my credit since I provided a signature as a guarantee of payment.  After the sale, I accepted a fortunately high level position with an automotive aftermarket company.  My pay increase is solid and provable.  My cards are now at less than 3% utilization but my scores are slow to climb.  There was one bill from the business that I missed that went to collections, and I have paid that off as well, but it is not yet reporting.  I fly frequently for my job and use United almost exclusively.  I currently show EQ 671 TU 681 and EQ 621.  All reports are not showing my paid down balances as of yet.  At the end of all of this rambling is a question...I'm thinking about applying for the Chase United card (mileage plus or the other lower mileage bonus one) but will probably be denied based on my 621 score.  With proof of income if needed, and of course proof that my balances are paid down, am I a good candidate for a recon call?  I'm not sure how much to tell them.  I do usually carry balances because of work items, but typically get paid back within 45 days, depending on office accounting cycle.  But my highest limit card right now is $2300 and there are sometimes I have the need to purchase or provide something in excess of $4000.  I am an authorized user on my father's Chase Freedom account, and he has been gracious in letting me tear his score down based on when I'm paid back.  I'd like to try and get in the $6k range of credit, and relieve him of me pushing his score up and down.  Do they consider things like that when being called?

Sorry if confusing and thanks for any information provided.

N8

[Anonymous]

Wait until the utilization posts for sure.  High utilization can hurt you for up to 120 points if many of your cards are maxed out.

Do you have any installment loans open and reporting?  If not, see my signature link and do the Alliant SSL immediately so it reports in December!

[Anonymous]

Thanks for the reply.  I do have 1 open car loan that has never been late or missed.

[K-in-Boston]

Completely agree. Wait until your reports have updated with your next statement balances. Would also offer that if Chase does not give you a sufficient limit, you may also want to consider a charge card that will adjust the spending limit based on your spending and payment patterns.

[Anonymous]

Thank you both, very much.  It appears some level of patience is required as well going through this.  Good to remember. 

[SunriseEarth]

I would agree that patience is best.   By all means, wait until your balances update and UTIL improves.   As for the collection account, keep up with GW letters since you've paid the balance (and see the "Rebuilding" forum if you need support on that process).

Also, is there a reason your EQ is so different than your other two scores?

[Anonymous]

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@SunriseEarth wrote:

I would agree that patience is best.   By all means, wait until your balances update and UTIL improves.   As for the collection account, keep up with GW letters since you've paid the balance (and see the "Rebuilding" forum if you need support on that process).

Also, is there a reason your EQ is so different than your other two scores?

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I'm really not sure about that.  It is lacking information from the other 2.  And the derogatory mark didn't show on TU at all.  Maybe my pay date didn't coincide with reporting to EQ?  

[EAJuggalo]

What cards do you have and what are the limits on them?  If you have a Chase account already I would say you would be a good candidate for approval.  As far as the limit, you might be better off looking elsewhere for higher limits, Chase is pretty stingy with increases, IME.