Making some progress finally

[Anonymous]

Long time lurker here. Just wanted to thank everyone who comes on here and offers advice. You have helped me along the way and am grateful for this. Been working on rebuilding  my credit since maybe early -mid 2011.

I had some credit cards early on when I was 21 and didn't know how important credit was. Well I messed up, got some lates and eventually charge offs. Eventually had no credit and just stopped bothering with them. Well all that changed when I wanted to finance a car and learned real quick how important credit is. Was never taught how to handle personal finances. I decided I was going to have excellent credit and do what it takes. So, I found this website and read, and kept reading.

I started off with credit one. They gave me $300 and with an AF of 60 or so dollars. Well, no much but it was a start. Next stop was capital one. Like credit one also, gave me $300 with a an AF of $59. I remember people saying how its just the cost of paying for credit and that this is what I will need to do and pay up the AF. No problem, just stick with it and be patient.  Next was Orchard and they gave me $300 also. Okay, I started seeing a pattern here. So I stopped applying for cards and knew I had what it took to start my journey.  Yes, I stayed away from First Premier and there $175 AF offers. Wasn't that desperate.

Along the way I ran these cards through their limits. Paid off and kept using them for everything and always making sure I never missed a payment. I pulled my credit from here to gauge where I was at and get a sense of what was happening in my Credit file. I knew I was still a bit away from the likes of Prime lenders.

Fast forward a bit after a few denials from BofA, Amazon, Best Buy. I then started to get CLI from my subprime lender friends for a $100 here and there, increasing to $400 and $500 for Cap1. Woo Wee! Small steps right?

Well today as it stands;

I have a Zync from Amex with a PSL of $500 dated to 2012. (got foot in door and will go for BCE soon enough)
My first real CLI from cap1 and a PC to Quick silver. (went online and got it from $500 to $2k) For the PC I called a CSR. Also had them close my Orchard with the AF. They wouldn't waive the AF on that one but the Quick silver has no AF and I had them previously permanently waive that one for me a while back on the Credit Steps card.

Discover More card at $5,750k Started at $3k with auto CLI along the way.

Kays card at $4,800. Started at $3,900 with a Auto CLI.

Amazon store card $1,400

Walmart $900

Just this past week the Barclays Mastercard rewards. The preapproval letter had World on it, not sure if that's the one I will receive. That one is for $4,500.

And a Chase slate with $500.

I am now going back to the garden for a bit as I have over $20k in Credit and util is around 9%. I never would have gotten this far with out the wisdom provided by you all on this board. Again I say thanks and just wanted to share my experience with everyone to let those who are also on their journey know that they are at the right place here. I now this is not a lot that I have accomplished in regards to some others, but for me it seemed impossible at one point starting with a FICO of 550.  Cheers!

[FinStar]

Glad you shared your experience and very commendable progress indeed.  This will definitely hep others with similar rebuilding goals.   Seems like you've done well so far.  Just fyi...the Barclays MC will likely be Platinum and not WMC; however, that CL is still pretty decent based on your profile.

[newUser0]

Thank you for sharing!

[Anonymous]

Thanks for the info on the Barclays. I recieved the pre approval from them a couple months ago but I didn't "need" the credit at that time. I saved the offer and took it last week. My Discover card, the only card with a Balance has finished its 0% offer. So gonna BT it to Barclays and pay it off. They offered my 12mos 0%.

I dont know much about Barclays, but i did hear of "the bear".

The chase slate Ive had for about 13 mos now. Just payed a small balance Ive had on it and hoping they will give me a auto CLI. We shall see. Hope I can get the Chase to grow as it will be my lowest limit card lol

[wHiTeSoL]

The Barclay "bear" is easily tamed, and you're already on the right track by heading into the garden, they are spooked by things all banks are spooked about: an influx of INQs/new accounts

[FinStar]

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@wHiTeSoL wrote:

The Barclay "bear" is easily tamed, and you're already on the right track by heading into the garden, they are spooked by things all banks are spooked about: an influx of INQs/new accounts

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+1

Also, another thing that can spook them is any incremental utilization, especially with newly acquired tradelines.

[UFGuy2006]

You are doing great! Keep up the good work.

[JediNeo]

Thanks for sharing. You're on the right track, keep up the good work.

[TiggerDat]

Congrats and thanks for sharing.

Six years ago I started with a secured card from Merrick for $1000.  I finally closed that this year since they wouldn't switch my account or remove the AF.  During that time I waited for a while and didn't apply for another card for years.  Then I got two from Capital One and later a Household.  I added a dept. store and a gas station card, then some more majors.  My AAoA is about 2.6 years at the moment because of all that I added this last year.  Two years ago I had about $5,000 total limits, now I have more than 10 times that.  It took a lot of work and effort to get where I have.  I won't ever mess up my credit again!  My goal for 2014 is to be app free!  I don't need any more credit, don't want another card and don't want to bother with anything but gardening.  I figure in 2015 I will probably buy a new car and a house, so I might need a loan or two for that!  My goal is to be ready for a mortgage, and I mean a good rate on the mortgage!  So I will age these suckers and let the scores increase.  If I can stay inq. free for two years, I will be happy and amazed!  I certainly want to keep the inq. as low as possible before that, for a long time before that!  Talk about learning control and patience!

Once again, congrats and good luck in the future.

[DigitalArk]

Thank you for sharing.