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Browse credit cards from a variety of issuers to see if there's a better card for you.
In sequence of application:
BestBuy $1,100
Target $1,000
Sears - DENIED
Old Navy Visa $1,000 (YAY!)
Walmart $150 (eh?)
JCPenney - DENIED
American Eagle Visa $750
Crate & Barrel $1,000
I'm pretty happy with the results. I'm a little surprised. I'm only 20 and my income is just under 10k a year. How I got more than half my annual income extended to me in a single day is beyond me. But the only one that I used is Target. Currently a balance of just $34.28. This time last year my Experian was 662. Now I'm at 709. All I did was pay off all my debt, and got two secured cards to gain trade lines and credit avail. Worked!
Just one thing- I'm going to have 16 accounts showing on my CR and I'm only 20. I'm kind of worried at what some lenders (mortgage/auto) are going to think. Could this pose a problem?
No, more accounts means more responsibility. The more accounts reporting timely payments looks good. If you had a balance it would look very bad. For the most part lenders seem to understand people wanting different credit cards for different times of rewards, or for establishing credit. If you were lending someone money for a car or a house, would you want them to have 2 accounts managed well, or 16? Credit cards are unsecured, so lenders know when you put up your house or car which bill you're going to pay first.
@MrShush wrote:
nice haul, but call it a day if you're planing a major purchase like a car or a home.
Oh yeah, not gonna apply for new lines until next year (many inquiries will fall off).
I'm gonna rack up over $100 at Walmart because I'll get a $20 statement credit if I do
@Anonymous wrote:In sequence of application:
BestBuy $1,100
Target $1,000
Sears - DENIED
Old Navy Visa $1,000 (YAY!)
Walmart $150 (eh?)
JCPenney - DENIED
American Eagle Visa $750
Crate & Barrel $1,000
GE Makes no sense sometimes... they give you 2 store Visa's but then completely deny at JCPenney and $150 at Walmart where you could probably spend the most money out of all of them... CRAZY Computers!!
I would call for recon on JCPenney, they use to be very easy with GE to get.
Crate and Barrel is great to get (WFFNB backs it) they are fantastic about Auto CLI and they back a lot of stores, they are like GE, onces they like you they will keep approving more cards... but I would wait and not do that right now!!
Oh wow. My credit line on my Old Navy VISA has increased to $2,200! Awesome. Walmart (also issued by GEMB) is still at $150. Kinda strange.
@Creditaddict wrote:
@Anonymous wrote:In sequence of application:
BestBuy $1,100
Target $1,000
Sears - DENIED
Old Navy Visa $1,000 (YAY!)
Walmart $150 (eh?)
JCPenney - DENIED
American Eagle Visa $750
Crate & Barrel $1,000
GE Makes no sense sometimes... they give you 2 store Visa's but then completely deny at JCPenney and $150 at Walmart where you could probably spend the most money out of all of them... CRAZY Computers!!
I would call for recon on JCPenney, they use to be very easy with GE to get.
Crate and Barrel is great to get (WFFNB backs it) they are fantastic about Auto CLI and they back a lot of stores, they are like GE, onces they like you they will keep approving more cards... but I would wait and not do that right now!!
My thoughts exactly. After being approved for all those cards I was upset when the cashier printed out the receipt that said $150 limit. She kept on telling me it's "probably my age" and she didn't seem to understand that banks can't discriminate against age due to the Equal Opportunity Lender law...but she kept on insisting that I'm too young.
I wanted JCPenney though =( - should I wait for the letter or should I call for a recon now?
no she is right it probably is your age... they are not discriminating against you... you got approved... but they may want to step the banks toes into your pond a little slower until they know you are a responsible young person... besides it's almost always completely done by computers these days... who knows the formula that thing uses to decide CL. Same bank, different stores and you end up with 2k difference in CL between Walmart and Old Navy... not sure how that makes since.
Cashier is partly right, it's your age, but more likley the short age of your credit history (based upon your physical age).
May only be a $150 limit with Walmart BUT the silver lining is you get a FREE TU FICO score once a month. That's a good deal. Still some debate on which version it is, but it's free.
@Creditaddict wrote:
@Anonymous wrote:In sequence of application:
BestBuy $1,100
Target $1,000
Sears - DENIED
Old Navy Visa $1,000 (YAY!)
Walmart $150 (eh?)
JCPenney - DENIED
American Eagle Visa $750
Crate & Barrel $1,000
GE Makes no sense sometimes... they give you 2 store Visa's but then completely deny at JCPenney and $150 at Walmart where you could probably spend the most money out of all of them... CRAZY Computers!!
I would call for recon on JCPenney, they use to be very easy with GE to get.
Crate and Barrel is great to get (WFFNB backs it) they are fantastic about Auto CLI and they back a lot of stores, they are like GE, onces they like you they will keep approving more cards... but I would wait and not do that right now!!
A little update. I decided to call in to see why my JCPenney (GEMB) card was declined. The CSR instantly told me that I actually was not declined, and that I need to speak with a separate department. So I spoke with them, and verified the public record info. I was approved for $250. Better than nothing I guess!
Got the letter from Sears (citi) today. Pulled my Equifax. Denied for too many inquiries. I called in and was told I'd get a call within 72 hours since all the supervisors were busy. Yeah right.
I have 0% utilization!!! On all 3 reports I'm showing a just $51.00 balance with Target. GEMB was quick to report the new accounts. I'm at 721 EX (plus) now I'm also showing $1000 CL from American Eagle Visa instead of the initial $750.
Does anyone know where they get the public record questions?? I just find it a little eery how they knew where I lived nine years ago as an 11 year old