What I learned so far building my credit from zero... - myFICO® Forums

Anonymous · ‎03-15-2020

Just want to say a big thank you to the community. I learned a lot of things from the community, especially from the personal experience people share. Today, am going to share my lessons.

Stupid mistakes made
1. Applying for Opensky secure card: worse customer support. No email/online support
2. Applying for Rakuten Synchron card: they report card balance weekly to CBs, which can be bad if you use the card a lot but PiF before statement closed date.
3. Applying for Capital One cards; they stupidly do HP from on all three CBs at each inquiry.

Good things I did:
1. Applying for a Discover card. They gave me a $2500 CLI after 8 months on a secure card.
2. HBSC Cash Reward: they gave me $5000 CLI upon first application
3. Barclays: $1500 CLI after rejecting my application online. I called them and asked them to re-consider. They asked me why my credit history is less than 12 months and what I need the card for. I had a smart answer already crafted and they approved it.

Best way I found to get any card you want and high CLI on your application
Open with the bank first a savings account and dump in there $250. Wait 3 months and then apply for your target credit card. This is how I was able to get $5000 at HSBC

Traveler101 · ‎03-15-2020

@Anonymous wrote:
Just want to say a big thank you to the community. I learned a lot of things from the community, especially from the personal experience people share. Today, am going to share my lessons.

Stupid mistakes made
1. Applying for Opensky secure card: worse customer support. No email/online support
2. Applying for Rakuten Synchron card: they report card balance weekly to CBs, which can be bad if you use the card a lot but PiF before statement closed date.
3. Applying for Capital One cards; they stupidly do HP from on all three CBs at each inquiry.

Good things I did:
1. Applying for a Discover card. They gave me a $2500 CLI after 8 months on a secure card.
2. HBSC Cash Reward: they gave me $5000 CLI upon first application
3. Barclays: $1500 CLI after rejecting my application online. I called them and asked them to re-consider. They asked me why my credit history is less than 12 months and what I need the card for. I had a smart answer already crafted and they approved it.

Best way I found to get any card you want and high CLI on your application
Open with the bank first a savings account and dump in there $250. Wait 3 months and then apply for your target credit card. This is how I was able to get $5000 at HSBC

Congrats on your journey and welcome to the forums. Totally agree with you on Sir Barclays. They have an awesome recon dept. Very easy to deal with once you start making traction with some history. While they dont want to be the first to let you on the train, they will gladly help you down the track. Best of luck to you, keep doing what your doing.