Assistance with getting Prime CCs

[Anonymous]

Hello All,

Firstly, I want to thank everyone on these forums that participate and take the time to write the many useful articles and responses here on MyFico. I’m a newly registered member here, but I’ve been lurking around these forums for many years. The members of these forums have helped me to recover from a low 500s (BK7 in 2008) to a respectable 680. I would be completely lost without you and I thank you.

Once again, I need your help. For the past year, I noticed that my score has been stuck around 680. I bought a new home almost a year ago (with a nice and low interest rate) and I have a few subprime cards that I PIF every month since after my BK7 and no baddies since the bk. I was hoping to join the 700 club this year, but for some reason my score remained at 680 after 12 months of no mistakes and no apps. My main goal for this year was to join the 700 club and then acquire a more prime CC (Goals: CSP, Discover IT, Barclay Travelocity) this year, but it looks like I need some more work.

In March 2013 I did some research on these forums and learned that I should get higher TLs in order to get approved for more prime cards such as CSP. So I recently app’d and got approved for Barclay (which I hear has some nice CLIs). Should I app for Discover or chase freedom as well? I’m a bit nervous and I need a game plan for the next 6-12 months. The worst case scenario for me is that 12 months passes and my score stays the same or goes down. That’s why I’m looking to this community for some guidance and advice.

Below is a breakdown of my financial profile. I appreciate any help you provide.

Financial Profile

I went through a bad divorce in 2006 and I ended up losing my job soon after the divorce.  The following year, I finally started to fix my life and make a better future for my daughter. I filed for a BK7 in 2008 (was the only option at the time due to the job loss) and it was discharged on 2009. Included in the BK7 was GE Paypal, AMEX Blue & Plat Charge Card, Citi Elite World MC, Affinity Federal Credit Union (Personal Loan & CC), Honda Financial (Auto Repo), and America Servicing Company Mortgage (FC on my previous home). I got a new job, at a local Hospital, the following year in 2010 and I’ve been working there ever since. My base salary is $82k per year with an additional $5-10k bonus per year.

Credit Cards that I currently have include:

Barclay Rewards - Limit is $1000 Bal: $200

Acquired on 04/2013 - Instant Approval for $500, but recon for $1000

Merrick Bank Visa – Limit is $1600 Bal: $100

Acquired on 05/2009 - rec’ auto-CLI $500, $750, and then stopped at $750 since 2011

Cap1 Platinum MC - Limit is $750 Bal: $10

Acquired on 04/2010 and rec’ auto-CLI $250, $500, and then stopped at $750 since 2011

Cap1 Platinum MC - Limit is $750 Bal: $10

Acquired on 11/2010 and rec’ auto-CLI $250, $500, and then stopped at $750 since 2011

Orchard Bank CC – Limit is $300 Bal: $0

Acquired on 10/2010 and no auto or requested CLI

Chase Amazon Rewards Visa – Limit is $1600.00 Bal: $350

“AU only” but had it since 2007

Credit Scores:

EQ 676, TU 662, EX 680 (All Scores are MyFico scores from 5/7/13)

GOALS:

To reach 700 Fico Score and acquire the Chase Saphire Preferred card

[kimmiller112]

First, if I were you, I would email the executive office for Capital One (you can do a Google search for the email address) and ask for increases on both of your Capital One cards and your Orchard card.  They will call you back and ask you some questions, including what kind of a limit you would like.  They will also ask you if you would accept a lower limit if they can't approve the limit you want, so you may want to ask for $2000 for each of the Capital One cards since you are sitting at $750 on those and $1500 for the Orchard card since you are sitting at $300 on that one.  They should be soft pulls.  Then, let those report.  Once they have reported, I would go ahead and app for Discover and Chase Freedom.  Then garden everything for at least 6 months or even a year and you should see an increase in your score.

[09Lexie]

Welcome to the forum! Congratulations on getting back on your feet and going through the ordeal of life after BK, divorce, job loss and a foreclosure. Definitely email the EO for Cap1. To req CLI's, AF waivers and APR reductions. Your CS isn't that bad considering the major items that hit your CR's. are you a member of a CU?

[Anonymous]

Hi kimmiller112,

I tried that today and that didn't go so well. He was a nice exec rep and he submitted my request, but he told me that the response was "A request for a credit increase is not available for your account. We are investigating this policy...." (Something along those lines). I got this same response last year when I tried. It's a bummer.

[Anonymous]

Hi 09Lexie,

Yes, I agree. My CS isn't that bad, but I'm hoping to make it better and get out of the subprime market. Thanks for the kind words though. I'm not a member of any CU but I will be by next week. I currently bank with Wells Fargo and TD bank only at the moment.

[09Lexie]

I would look at that CUs options for cc's. tbh, what you are missing is the larger limit but prime banks will be skittish because of your history. See what the CU offers first and then post back.

You've done an excellent job!

[qd]

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@Anonymous wrote:

Hi kimmiller112,

I tried that today and that didn't go so well. He was a nice exec rep and he submitted my request, but he told me that the response was "A request for a credit increase is not available for your account. We are investigating this policy...." (Something along those lines). I got this same response last year when I tried. It's a bummer.

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Did you email the EO office with cap 1 and get a call back, or call the number on your card?  The EO office email seems to pretty much always end with success.

[Anonymous]

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@qd wrote:

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@Anonymous wrote:

Hi kimmiller112,

I tried that today and that didn't go so well. He was a nice exec rep and he submitted my request, but he told me that the response was "A request for a credit increase is not available for your account. We are investigating this policy...." (Something along those lines). I got this same response last year when I tried. It's a bummer.

---

Did you email the EO office with cap 1 and get a call back, or call the number on your card?  The EO office email seems to pretty much always end with success.

---

I called the direct EO line and spoke to someone. Do you think they will get mad if I e-mail them since I already called twice and they seemed to be getting annoyed already?

[kimmiller112]

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@Anonymous wrote:

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@qd wrote:

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@Anonymous wrote:

Hi kimmiller112,

I tried that today and that didn't go so well. He was a nice exec rep and he submitted my request, but he told me that the response was "A request for a credit increase is not available for your account. We are investigating this policy...." (Something along those lines). I got this same response last year when I tried. It's a bummer.

---

Did you email the EO office with cap 1 and get a call back, or call the number on your card?  The EO office email seems to pretty much always end with success.

---

I called the direct EO line and spoke to someone. Do you think they will get mad if I e-mail them since I already called twice and they seemed to be getting annoyed already?

---

When you email the EO, a new case is generated and someone gets assigned to it and contacts you.  When you call the EO, you are speaking to people who are in the middle of working on cases and tend not to be enthusiastic about helping someone new.  I don't think it matters that you tried calling in twice.  Email them and someone will call you back, sometimes same day, sometimes day after.  When I emailed them, I did so in the evening and got a phone call the next day.  My suggestion is to make sure you do it at a time when you are available to answer your phone.  Once they talk to you, they will tell you that they will need a couple of days and will call you back.  They called me back two days later and I went from $1500 to $5000, which is what I had asked for - I had the card for just over a year.

[zerobacan]

Try DCU.org is a great bank, they will listen to you

and keep up the good work... and dont get marry again!! lol Im jk