Ooops! Posted under a different name ! What cards to add ??

[Anonymous]

Hi all. *** I was unaware we were not allowed more than one username!  My apologies! ***

Been cleaning up my credit over the past 6 months, and my scores have risen greatly from 550-580s to: EXP 644 TU 640 EQ 639. Currently my EQ is forzen due to fraud apps I noticed.

My AAofA is 6.7 years, oldest is 13 years. Here is snapshot of my credit report from EXP:

Score (FICO 8): 644
Score (FICO 04): 653
INQs (alot): 7 past 6 months, 13 past year -- many are AUTO Lenders!! (ugh)
Collections: 0 (Last one removed earlier this month!)
Derogs/Baddies: 1 Charge Off from First Premier Bank $420, from 2009 - Aging off in 5 months as Early Exclusion !!
1 Charge Off from Cap one $250, from 2012.
2 - 30 day lates on student loans, now 1 year old

Current credit lineup:

Barclay Rewards: $3,000 CL / $2,499 balance (0% APR for MAC)
Capital One QS1: $1500 CL / $230 balance
CareCredit: $3,000 CL / $1290 balance (0% APR)
Credit One: $600 CL / $0 balance
Capital One QS1: $600 CL / $0 balance
Western FCU: $3,000 CL / $0 balance
FingerHut: $250 CL / $0 balance

OVERALL UTIL: 33%
INCOME: 102,000

So what cards can I get with these stats? I am interested in DISCOVER majorly, AMEX, PayPal MC, NFCU, and any other lenders who support my scores that may offer rewards cards. Especially TRAVEL CARDS. Travleing a LOT beginning in December for family events and work, 3x monthly at least between DEC-AUGUST 2016.. What is a realsitic approach here? Any lenders I may be missing who are less INQ sensitive and weigh on side of approvals ? My INQs are high, and I am worried about the old CO's, even though all COLLECTIONS are gone! Let me know what you think given my profile to expect with apps. I know many will say WAIT, which I very well may -- but this thread is not about that -- IF I were to apply now, where should I try and what are estimated odds? Thank you all!!

[kdm31091]

I think you should wait. If you cannot accept that advice I dont know what to tell you. In current state, you are unlikely to get many decent approvals if any. We tell you to wait for a reason.

[Anonymous]

ok give me specifics - what should I work on ?  What can I "fix" to help odds?  Maybe if I get some solid advice on WHAT to correct or WHY to wait, I will understand better :-)

[kdm31091]

Let the inquiries age off and the scores rise. Didnt you say you got a venture recently?

[Anonymous]

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@Anonymous wrote:

ok give me specifics - what should I work on ?  What can I "fix" to help odds?  Maybe if I get some solid advice on WHAT to correct or WHY to wait, I will understand better :-)

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I would suggest lowering your utilization on Barclay and Care Credit cards allow only one card to show a balance, no more than 9% utilization.  As an underwriter if I saw and 83% utilization on a 3k credit limit, late payments within the last year or so and 100K income I would have second thoughts about issuing more credit.   You can also see if you can goodwill the late pays on the student loans if they are now current, not sure if there is anything you can do about the Capital One charge off but at least let the First Premier account fall off.    

[Closingracer99]

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@Anonymous wrote:

Hi all. *** I was unaware we were not allowed more than one username!  My apologies! ***

Been cleaning up my credit over the past 6 months, and my scores have risen greatly from 550-580s to: EXP 644 TU 640 EQ 639. Currently my EQ is forzen due to fraud apps I noticed.

My AAofA is 6.7 years, oldest is 13 years. Here is snapshot of my credit report from EXP:

Score (FICO 8): 644
Score (FICO 04): 653
INQs (alot): 7 past 6 months, 13 past year -- many are AUTO Lenders!! (ugh)
Collections: 0 (Last one removed earlier this month!)
Derogs/Baddies: 1 Charge Off from First Premier Bank $420, from 2009 - Aging off in 5 months as Early Exclusion !!
1 Charge Off from Cap one $250, from 2012.
2 - 30 day lates on student loans, now 1 year old

Current credit lineup:

Barclay Rewards: $3,000 CL / $2,499 balance (0% APR for MAC)
Capital One QS1: $1500 CL / $230 balance
CareCredit: $3,000 CL / $1290 balance (0% APR)
Credit One: $600 CL / $0 balance
Capital One QS1: $600 CL / $0 balance
Western FCU: $3,000 CL / $0 balance
FingerHut: $250 CL / $0 balance

OVERALL UTIL: 33%
INCOME: 102,000

So what cards can I get with these stats? I am interested in DISCOVER majorly, AMEX, PayPal MC, NFCU, and any other lenders who support my scores that may offer rewards cards. Especially TRAVEL CARDS. Travleing a LOT beginning in December for family events and work, 3x monthly at least between DEC-AUGUST 2016.. What is a realsitic approach here? Any lenders I may be missing who are less INQ sensitive and weigh on side of approvals ? My INQs are high, and I am worried about the old CO's, even though all COLLECTIONS are gone! Let me know what you think given my profile to expect with apps. I know many will say WAIT, which I very well may -- but this thread is not about that -- IF I were to apply now, where should I try and what are estimated odds? Thank you all!!

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Even without the baddies you wouldn't get approved for many cards other then Capital one. With those baddies your chances are even lower. I would wait until all the inq's are gone at the very least until you look for any more cards

[Anonymous]

I am attempting to GW Cap One now for the CO....heard its a long shot, but I do have a direct Executive MGR contact who i'm working with now.  Thank you guys for the advice, everytime I think i'm doing so much better I want to pull the trigger.

Up from mid 500s to mid 600s is a good feeling...but when I hit the 700s, maybe that will be more appropriate timing?

[UncleB]

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@Anonymous wrote:

I am attempting to GW Cap One now for the CO....heard its a long shot, but I do have a direct Executive MGR contact who i'm working with now.  Thank you guys for the advice, everytime I think i'm doing so much better I want to pull the trigger.

Up from mid 500s to mid 600s is a good feeling...but when I hit the 700s, maybe that will be more appropriate timing?

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Let us know how your goodwill with Capital One works out.  Not many people report being successful, but there's always exceptions, and I would very much like to hear that you are one!

Keep in mind that as tempting as it is to "pull the trigger" once you see your scores improving, each time you do so will likely be a slight 'ding' on your score.  I know it seems counterintuitive (you have to apply to get credit, have to have credit to improve credit, etc.) but I think if you just hold off a bit you'll likely see your scores stabilize, and then start to move upward on their own. 

There's a lot of good advice already shared in this thread.  If you're looking for a quick way to give your scores a bump, I would follow tel12's suggestion on paying down the Care Credit and the Barclays.  I understand they are both on a 0% promo (I'm taking advantage of a promo on Care Credit right now myself) but if you were to knock those out (or at least pay them down significantly) you would likely see results. 

In my case my income is more modest, so the 0% promo is more valuable to me than a temporary score bump, but if you're 'pulling out all the stops' to raise your score, this could be something to consider. 

Good luck! 

[Anonymous]

I would pay down the Barclay's card and maybe the CareCredit card. Your income would seem to support your ability to pay these down immediately. I'm guessing that you get a nice 30 point bump from that, which should put you in solid contention for a Discover IT. Depending on where you want to travel, a Venture (assuming CapOne doesn't blacklist you over the charge off) or a CSP might be decent options.

[woodsie1]

If you are a NFCU member then your chances for the cash rewards may be good. I'm no expert but navy is pretty lenient.