Hi there OP, I have removed your cross posted thread on this from the apps board, please refrain from cross posting as its not inline with our TOS and it can lead to confusion by the members. Thanks for your understanding on this.
@Anonymous wrote:Thank you!! Although after reading through a lot of articles on here I'm thinking my score won't really ever get to the higher end. I've noticed income levels seem to play a part in it and my income is not much compared to what I've seen. Maybe 650's 670's would be what I should expect. I'm very new to it all so I may be missing something or reading into it wrong but that's what I got from it. This has become a personal challenge of mine to increase and maintain my scores. I'm trying my best to work at it in all the right ways... I find it funny cause my friends/relatives all talk about things their doing and goals their aiming for but I keep mine quiet. Only a few worth knowing what I'm working hard on and still it's invisible to most everyone around me. They do not get my excitement about it lol. I've learned not everyone looks at credit and scores in the same way.... and I'm super glad I learned it's something I need to hold dear to me for future benefit.... I feel like I'm 1 up already😂
Income has no bearing whatsoever on FICO score. Income is only used for determining credit limits.
As everyone mentioned already, it takes time to build good scores. Time as in YEARS of perfect payment history, good credit mix (revolving credit + installment loans), and eventually you can get in with better lenders.
@Anonymous wrote:My score has went up a bit. Started at around 552 across the board and now at Eq 619 TU 623 and Ex621. I see people start like me and within a year at a good score around 700+....... I can't move to save my life 😒. It's a bummer forsure.
It's a slow process - often when people get extremely rapid scores increases it's because of special circumstances that don't apply to most people. For most, it's a slow marathon.
For myself, I got a rapid boost from low 500's to about 625, but after that, it was reeeeeaaaaally slow going. Spent about a year with hardly any movement. Don't worry, as long as you keep moving forward, you'll get there.
Total Loan Balance: $43k / $65k
Total SL: $78k
The day after my BK7 discharged, I got their Platinum card and only cared about no annual fee at the time. Over the last couple years, I've used the heck out of it and it now sits at an $11,200 credit line. In addition to the Credit Steps Program that gave me (I think) a $500 auto CLI at 5 months, I received several CLI's.
Around 3 months in, I PC'd to Quicksilver.
5th payment, auto CLI of $500.
After 12th statement, soft pull request CLI of $4000.
Immediately after, did account combination of another $3,500 card that just recently received a "Credit Steps" auto CLI
Requested soft pull CLI in August 2020 for another $1,000
Current CL sits @ $11,200 and also got upgraded to World Elite Mastercard
Platinum cards, rebuilder cards, etc are not "bucketed"
YMMV, but I used heavily and paid in full sometimes multiple times each month. After the "credit steps" increase, they only, as far as I know, permit an increase/decrease once every 6 months so I have it marked on my calendar. I've began using my PenFed PCR card for the 2% cash back now so my Cap1 account doesn't get much use, but it's nice to have the good history on an account since 1 day post discharge.
This is not an "I told you so" post for those saying these cards are bucketed. It's a post to show there is hope and somehow I fit the mold of what Cap1 was looking for in this card...
BTW, I burned Cap1 for over 10k in my BK.
Best of luck!
@DebtStinks Do you remember what your Platinum starting limit was? For you to get a credit steps auto CLI of $500, I assume it was at least $1000. That might explain why your card wasn't bucketed as other lower limit cards in the $300-$500 range seem to have been.
Thanks for sharing your successful experience with your starter card. I also cycle my QS's limit regularly, so hopefully I have some good news to report when I ask for a CLI after the 12th statement in a couple of months.
