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Hello all!
so I have been working hard at rebuilding my credit, I have a discharged ch-7 due to fall off my report come September, no lates on anything since last March (missed my hot topic card payment by one day-landed me a 30 day late grrrrrr)......I have a hot topic, target, cap one, cap one quicksilver, and two Barclays cards! My Barclays both have 1,500 limits on them......but I can't get Walmart, amazon, or anyone that seems to be Synch based to even talk to me.....our mortgage doesn't show up on my credit at all since the loan is only in my husbands name...(usda loan his income was higher at the time, it was weird)
what is is the trick to getting in with Synch???
my utilization is high right now, but I'm working hard on getting balances down! Is it a balance to limit thing? I have never had a GE or Synch account before....ever!
TU-626
Exp-603
EQ-593---(still trying to get this one figured out)
Sorry for the long post, thanks for any help you can offer!
:-)
@Anonymous wrote:Hello all!
so I have been working hard at rebuilding my credit, I have a discharged ch-7 due to fall off my report come September, no lates on anything since last March (missed my hot topic card payment by one day-landed me a 30 day late grrrrrr)......I have a hot topic, target, cap one, cap one quicksilver, and two Barclays cards! My Barclays both have 1,500 limits on them......but I can't get Walmart, amazon, or anyone that seems to be Synch based to even talk to me.....our mortgage doesn't show up on my credit at all since the loan is only in my husbands name...(usda loan his income was higher at the time, it was weird)
what is is the trick to getting in with Synch???
my utilization is high right now, but I'm working hard on getting balances down! Is it a balance to limit thing? I have never had a GE or Synch account before....ever!
TU-626
Exp-603
EQ-593---(still trying to get this one figured out)
Sorry for the long post, thanks for any help you can offer!
:-)
Have to get your scores up. Get transunion up to around 650-660. You may have a better shot.
At what percentage is your utilization at?
2016 was not kind to us to say the least....between our AC crapping out, and hurricane Matthew nailing us right after, we went from completely maxed out on everything to currently 74% total utilization....hot topic has zero balance, its sock drawered....target has less than half to go....cap1s and Barclays have the big balances right now....those are next in my snowball approach....
sounds like maybe SYNC is a score thing huh lol
@Anonymous wrote:2016 was not kind to us to say the least....between our AC crapping out, and hurricane Matthew nailing us right after, we went from completely maxed out on everything to currently 74% total utilization....hot topic has zero balance, its sock drawered....target has less than half to go....cap1s and Barclays have the big balances right now....those are next in my snowball approach....
sounds like maybe SYNC is a score thing huh lol
Tough to get approved for anything at 74%.
Your scores will improve by bringing that utilization to under 30%.
It's never just about score. Everything in your profiles come into play. Lower scores with high utilization will definitely work against you.
@Anonymous wrote:Hello all!
so I have been working hard at rebuilding my credit, I have a discharged ch-7 due to fall off my report come September, - Looking at your scores I'm wondering what's keeping them so low? When mine was about to drop off my scores were 750ish across the board and jumped over 800 when it finally took a hike.
last March (missed my hot topic card payment by one day-landed me a 30 day late grrrrrr)..... - this isn't a good sign 9 years into a BK7 and probably spooks lenders
hot topic, - why?
target, - 5% off is fine but, it won't really budge much for growth
cap one, - which one or is this just a typo leading to QS?
cap one quicksilver,
two Barclays cards! My Barclays both have 1,500 limits - Sleep with one eye open on these fools... they'll shut you down or CLD if you spook them with new accounts
TU-626
Exp-603
EQ-593---(still trying to get this one figured out)
As to why Synch won't touch you it's mostly due to the notes above. BK7 isn't that big of a deal with them though so it's more likely the 30 day late.
Even with 70%+ utilization your scores should be higher by now.
Instead of focusing on low hanging fruit like store cards you need to focus on getting your "prime" cards to CLI upwards. You have 3-4 prime cards already and they're keeping you in toy limit land until you push them to grow or combine them to grow. if you combine them you won't lose age or take a hit for a HP and increase your "odds" of being able to obtain higher opening limits down the road.
My advice for the next 12 months is to sit on your hands and not app for anything.
Hit the CLI button for Cap1 / Barclay every 4-6 months and consistently use them and PIF each month for 10% fof the limit.
If the store cards aren't paid off then pay them off
For Valentine's day next year I would suggest apping for AMEX / Discover since they both grow nicely and your scores should be primed to an approval for both
@Anonymous wrote:
I'm not really sure what's keeping my scores down so far...hot topic was a spur of the moment when picking up something for my son a year ago, offered 20% off for applying and was approved....was paid off and never gets used....hot topic was the same one I missed by one stinking day....did have 2 lates on a car payment but that has been well over a year ago now....I know it still looks bad after BK....I really am trying hard...I think my use to limit factor is killing me....
Cap1 I have a platinum MasterCard and a Quicksilver....750 on the MC and 1,000 on the QS.....limits, not balances....
I applied for CLIs with both Cap1 and Barclay, not yet.....they both want to see balances come down first....I called the recon line with Barclay and the lady I talked to was very nice, but said they wanted to see the balance come down.....but couldn't tell me what they wanted to see before I tried again....just that I could try at any time.....confusing!
I'm going to hold off on applying for anything for sure...I want to get my scores up, I can only figure my balances are keeping it down....or I'm just a dork that knows diddly squat one lol XD
Having that oddball card out there threw you a loop and caused the issue. I'd kill it and shred it if I were you.
I'd pay off everything to $0 and wait a month or so for everything to report and see what your scores do. They should pop up 15-30 points or more with the $0 balances.
Plus with them all paid off that phone call should turn into a YES!
The hard part of this is going to find that one lender to approve you for a $5K limit and others will follow after they see you're not going to max it out. Then it's the $10K limit and higher. There's some stepping stones to the process. You're going to have to put in some more work to get there though and make sure you don't create anymore skid marks on your reports. Think of it as going to bootcamp and graduating. Just keep plugging along and set some benchmarks to meet along the way.