Looking for a card with a better CL..

[Anonymous]

No negative reports since BK.  I have a 14k car loan from FMC I got after the BK (with help from a co-signer) that has always been in good standing.  I recently paid off in full both my cards and I'm keeping them paid off or at 9% or lower.  Trouble is the CL on both cards is $300.

Anyone know of a pre-approval site that will do a soft pull with the possibility of a better CL?

[Anonymous]

Hi rebuilding,

What cc's do you currently have?  What type of BK did you file and when?

We'll try to give you some good ideas.

Also, what is your AAofA?  How old are the two cards you have?

[Anonymous]

Both cards I currently have are from HSBC, an Orchard one and a Best Buy one.  The Orchard one is the oldest, opened in November 2009.

I filed a chapter 7 on 02/04/2009 and it resolved on 05/26/2009.  I've had no negative remarks after the BK.

Sorry but not sure what AAofA is.. I googled it but keeps pointing at Fico forums that just use the abberviation and some division of the army.

I'm working hard to rebuild my credit so, hopefully, my wife and I can purchase a house in the fall of 2011.  Her credit is pretty good but we're polishing it up a bit too.

[MarineVietVet]

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@Anonymous wrote:

Both cards I currently have are from HSBC, an Orchard one and a Best Buy one.  The Orchard one is the oldest, opened in November 2009.

I filed a chapter 7 on 02/04/2009 and it resolved on 05/26/2009.  I've had no negative remarks after the BK.

Sorry but not sure what AAofA is.. I googled it but keeps pointing at Fico forums that just use the abberviation and some division of the army.

I'm working hard to rebuild my credit so, hopefully, my wife and I can purchase a house in the fall of 2011.  Her credit is pretty good but we're polishing it up a bit too.

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Your AAoA is the sum of the ages of every account (except CA collections) on your report, whether open or closed, calculated in months, divided by the number of accounts and then divided by 12. I use the division by 12 to make it easier to convert into years. This is measured from the time each account was opened until present.

You’ll need to figure the age of each account, open or closed, on each report. If all three reports are identical (very unlikely), you're in luck; otherwise, you'll need to run this for each report.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[Anonymous]

Include the accounts included in the BK?

[Anonymous]

You may need to get a secured card to get a larger CL.   That way, you pick the CL.  

[Creditaddict]

I would suggest Macys, Walmart, and Barclays card

[Anonymous]

Using the formula given to me below my AAofA is a whopping 1.809.  That is not including accounts in the BK.

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@MarineVietVet wrote:

Your AAoA is the sum of the ages of every account (except CA collections) on your report, whether open or closed, calculated in months, divided by the number of accounts and then divided by 12. I use the division by 12 to make it easier to convert into years. This is measured from the time each account was opened until present.

You’ll need to figure the age of each account, open or closed, on each report. If all three reports are identical (very unlikely), you're in luck; otherwise, you'll need to run this for each report.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

---

[MarineVietVet]

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@Anonymous wrote:

Include the accounts included in the BK?

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I don't believe I've ever been asked that before. Good question.

I'll get back to you.  

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[MarineVietVet]

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@Anonymous wrote:

Include the accounts included in the BK?

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I finally found out an answer for you.

The TLs showing included in BK are included, as are all TLs, regardless of their status.  3rd party collections, public records and (as you might imagine) inquiries are never included in AAoA, though.

Also the AAoA is rounded down so your AAoA is 1 year.

ETA: Forget what I said about your AAoA. I had forgotten you had not included accounts in BK in your calculation.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work