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Ok, Here's My Plan.......

Established Contributor

Ok, Here's My Plan.......

Hey Everyone,

I've been thinking about what is best for my credit history recently. Here's my plan to make sure things keep getting even better!


I have about 18 inquaries on my reports and about half or slightly more are from this year alone, the rest should fall off by the end of this year or begining of next year. I plan on trying to resist the urge to app for the next year and a half to 2 years so the inquaries can age and fall off.


Durring this "cool down" I will be callng up GE every 4 statements like clockwork to ask for higher limits.


Then after that (sometime in late 2014) app for a Barclay's Reward Mastercard and by that time they should see that i've done well and give me a card with a worth while limit.


Then about 4 months after I would hopefully get in with Barclay's I would close my Capital One card. (hopefully i can get them to waive annual fees before that)


Then I understand that i have to wait a minimum of 6 months of no apps so Barclay's can see i'm being responsible. After then hopefully i will be getting my drivers license and my first car, if that doesn't happen around that time then I will see if i can get a "Cash Builder" credit card with my bank (PNC).


If i can do all of that then i should have excellent credit or damn close too it! Smiley Very Happy


What do you guys think? Do you think i'm crazy? (lol, don't answer that one.... ha ha ha lol) but seriously what do you guys think about my goals?

Capital One QuickSilver MC $4.5K | Walmart $5K (CLOSED) | BOA Cash Rewards Sig $6.5K | BOA BBR $1K | Discover IT $13.5K | AMEX Sr Green Charge (NPSL) | PNC CashBuilder $1.5K | Paypal Extras MC $6k | PNC Auto Loan $20,038.75 | AMEX SimplyCash Biz CC $3k | BOA Cash Rewards Biz CC $3.5K | Chase Freedom Sig $8K | CapOne Spark BIZ Cash Visa Sig $5k | AMEX SimplyCash Biz CC $10k (LLC) | AMEX Everyday $2k | Sallie Mae WMC $6.4K | Citi Double Cash WEMC $6.2k | DCU Visa Platinum $1K (CLOSED0 | PSECU Visa w/PSL $8k | Chase Ink Cash BIZ Sig CC $3k | FNBO Biz Visa $9.5K | AMEX SimplyCash Plus BIZ CC $10k | Fidelity Rewards Visa Sig $4.7k | AARP Visa $500 |
Message 1 of 5
Valued Contributor

Re: Ok, Here's My Plan.......

Looks like a pretty solid plan. GL not APPing Smiley Happy


I hope that goes well for you. Just always PIF each month, and you will be well on your way to a great credit profile.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    

     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 2 of 5
Valued Contributor

Re: Ok, Here's My Plan.......

I think you rplan is solid indeed.


Just make sure you PIF and do not carry a balance and you will do just fine.


Good luck with your plan!  Smiley Happy


** Every Card has a Job, and Every Card does its Job **
Message 3 of 5
Established Contributor

Re: Ok, Here's My Plan.......

Excellent plan overall.  Only thing I would do is NOT close the Cap One account if they waive your AF. Even if they still have you at $500 by then, that can be helpful to your utilization.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12), Total CL $1k on 2 TLs
Current: EQ 709 (CCT 2/4/15), EX 704 (CCT 2/4/15) , TU 702 (CCT 2/4/15), Total CL $110.3k on 14 TLs Goal: 740+ x3
My Wallet: Amex BCP $30k, Chase United Explorer $16k, Amex SPG $13.5k, Barclaycard Ring MC $12.5k, Chase CSP VS $12.2k, Discover it $10.5k, C1 Venture VS $6.5k, Chase Slate $3.5k, Amex Hilton Surpass $2k, Barclaycard Apple V $2k, Chase Freedom V $1100, BoA Cash Rewards V $500, Citi BestBuy $500
My Loans: Prosper $25k/36mo, Prosper $17k/36mo
My Business: Chase Ink VS $5k, Amex BRG NPSL (> 10k),
Message 4 of 5
Moderator Emeritus

Re: Ok, Here's My Plan.......

Nice plan.  Try and stay in the garden!

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 5 of 5