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My journey.. so far!

tag
reverted
Established Member

My journey.. so far!

Hey everyone. Long time lurker and first time poster here. Thought it was finally time to come out and join the ranks Smiley Tongue

 

History

- Started applying to credit cards about 2.5-3 years ago and wound up with tons of denials and inquiries due to thin file and unknown medical collection

- Paid up medical collection but they did not PFD 

- Continued applying for credit cards to no avail. No credit union or even secured cards (what?)

- Gave up applying and stuck with debit cards for awhile

- Score was in the high 500s -low 600s due to collection and 10+ inquiries

 

Near present (3 months ago)

- Received many, many, many, many Discover IT letters in mail and bit the bullet and app'd for the student version. Got the 7-10 dreaded message and called in. Asked to send in verification of being a student... 30 minutues later.. APPROVED! Smiley Very Happy for $500 but was very excited to finally get approved for a decent unsecured card at that.

- Decided to do a mini app spree and see if any other fish bit back.

- Denied for Cap1, Citi Forward, local bank, Chase Freedom, Barclay's.

- CK FAKO score at the time was around 610

 

Present..ish

- Been using Discover IT heavily considering low limit and paying multiple times a month. 3rd statement almost hitting and considering asking for CLI.

- Added onto mom's credit cards as AU. Chase Freedom - $11,000, AMEX BCP $10,000 and Macy's AMEX $15,000

- CK FAKO score up at 673

- Got the itch and app'd for three cards I thought were reasonable:

 

Walmart --> Instant approval $700; Called to recon and bumped to $1200; Excited for TU monthly score

Barclay's Reward MC --> Instant Approval $1200; Called twice and bumped to $2500 (WHAT?!)

Citi Forward Student --> 7-10 message; Called twiceand told denied due to credit history, collection and low revolving credit use; Decided to take it up with the EO. Nice lady said she would look at my file and forward it over to a credit analyst; Next day, called and asked to submit student ID pic; Next day, called and APPROVED for $500. Low limit, but glad to have my foot in the door!

 

So glad those 3 inquiries were not in vain! 

 

Stats now:

CK FAKO: 643 due to inquiries and new accounts and low AAoA (2 years)

Oldest account is student loan accounts 7+ years

Inquiries still stand at 12 inquiries. Most falling off within 6-12 months.

TU Score (according to Barclay letter): 689 - but this was before Citi app

 

Any suggestions on things I should do next? My only plan of attack is to not attack and garden away. And currently working on having collection removed with OC.

 

(Sorry for the LONG post..!)

CapOne VentureOne - $10000 | Costco AMEX - $7700 | CSP - $7000 | United MP Explorer - $7000 | Chase Freedom - $6000 | Chase Hyatt - $5000 | Barclay Rewards MC - $3500 | Citi Forward - $2800 |
Discover IT - $3500 | Walmart - $2400
Message 1 of 8
7 REPLIES 7
myjourney
Super Contributor

Re: My journey.. so far!

Welcome to the forum

You're off to a good start and now that you have some good TL's I reccomend you head for the garden for 9-12 months and age cards,INQ's,AAoA

Show good payments using all cards for the next nine months 

If you plan on adding cards after that time don't go overboard (1-2)

 

Remember the golden rule...Pay all cards off $0 except one and let that one report a balance between 1-9% 

If you have to make multiple payments monthly that's ok

You have a very thin file so you want to build scores right now along with AAoA

 

Glad to have you come in from lurking and become part of the MyFico family Smiley Happy

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 8
coldnmn
Mega Contributor

Re: My journey.. so far!

Congrats!

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 3 of 8
reverted
Established Member

Re: My journey.. so far!

Thanks!

 

I think the only thing I might come out of the garden for is if I am eligible for a Discover CLI. I've been using it so much and would love to have more freedome on it.

CapOne VentureOne - $10000 | Costco AMEX - $7700 | CSP - $7000 | United MP Explorer - $7000 | Chase Freedom - $6000 | Chase Hyatt - $5000 | Barclay Rewards MC - $3500 | Citi Forward - $2800 |
Discover IT - $3500 | Walmart - $2400
Message 4 of 8
reverted
Established Member

Re: My journey.. so far!

Anyone think I should apply for anything else at this time to age with the others? Trying to group the inquiries altogether 

CapOne VentureOne - $10000 | Costco AMEX - $7700 | CSP - $7000 | United MP Explorer - $7000 | Chase Freedom - $6000 | Chase Hyatt - $5000 | Barclay Rewards MC - $3500 | Citi Forward - $2800 |
Discover IT - $3500 | Walmart - $2400
Message 5 of 8
09Lexie
Moderator Emerita

Re: My journey.. so far!

Welcome to the forum. You have several new accts and inq's to age off on an extremely thin file. The recons and low limits are a sign it is time to let your new accts season before apping.

Give it 9mos to 1 yr and you will see a noticeable difference.
Message 6 of 8
JamesKnox
Regular Contributor

Re: My journey.. so far!

I want that darn Discover IT soooo bad!


Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)

Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000
Message 7 of 8
reverted
Established Member

Re: My journey.. so far!


@JamesKnox wrote:

I want that darn Discover IT soooo bad!


Don't worry, you'll get there one day! Perseverance and patience! 

CapOne VentureOne - $10000 | Costco AMEX - $7700 | CSP - $7000 | United MP Explorer - $7000 | Chase Freedom - $6000 | Chase Hyatt - $5000 | Barclay Rewards MC - $3500 | Citi Forward - $2800 |
Discover IT - $3500 | Walmart - $2400
Message 8 of 8
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