Ok now that I've basically raised deleted majority of baddies from my credit report when should I request a credit limit increase?
Here is what I have and when I opened it, plus the amount:
July 2014-
Capital One Platinum $300 (raised to $500 a few days ago-kinda bummed that it wasn't more)
August 2014-
Capital One Quicksilver $300
Capital One Secured $200
September 2014-
First Premier $300
October 2014-
WalMart $150
Target $150
Kohl's $300
Amazon $600
Macy's $600
November 2014-
Old Navy $150
American Eagle $150
Victoria Secret $350
Torrid $500
CFNA (Firestone) $900
Jared $3000
Total Card (First Access) $300
Verve $500
December 2014-
OneStopPlus $250
Express $250
Lane Bryant $300
Catherine's $300
The Limited $350
Blue Nile $1000
January 2015-
TJ Maxx $300
JC Penney's $300
Car Care Credit $500
Sam's Club $637 (odd amount, and I asked them to repeat that 3 times)
Discover Secured $200
Credit One Bank $300
PayPal Smart Connect $600
Barclay Rewards Mastercard $1000
I made a chart of 1%, 5%, 9%, and 10%. That way I know when my statement closing date is and how much I want the amount to be. I have been staying at or below 10%. I read the many posts and decided that staying below 10% was my best bet, so far so good. I know that it is a lot, but I got kinda happy when I was actually approved for accounts when seven months ago my credit score was below 500. I won't be applying for anything else. I want to concentrate on building these accounts for the next two years. I also want the store accounts to upgrade from store card to credit cards.
1.27.15
EQ: 648
TR: 650 (it went up two points today...YEAH!!!)
EX: 666
If I might make a suggestion: out of that list of 31 cards pick the ones which will be used (as many the QS1 / Barclays / Discover are simply better than for rewards or potential future growth) and focus on those for CLI's.
You'll do way better in a year anyway in terms of credit cards.
Ok thanks. Should I ask for CLI or wait for them to do it automatically?
1.27.15
EQ: 648
TR: 650 (it went up two points today...YEAH!!!)
EX: 666
@Anonymous wrote:Ok now that I've basically raised deleted majority of baddies from my credit report when should I request a credit limit increase?
Here is what I have and when I opened it, plus the amount:
July 2014-
Capital One Platinum $300 (raised to $500 a few days ago-kinda bummed that it wasn't more)
August 2014-
Capital One Quicksilver $300
Capital One Secured $200
September 2014-
First Premier $300
October 2014-
WalMart $150
Target $150
Kohl's $300
Amazon $600
Macy's $600
November 2014-
Old Navy $150
American Eagle $150
Victoria Secret $350
Torrid $500
CFNA (Firestone) $900
Jared $3000
Total Card (First Access) $300
Verve $500
December 2014-
OneStopPlus $250
Express $250
Lane Bryant $300
Catherine's $300
The Limited $350
Blue Nile $1000
January 2015-
TJ Maxx $300
JC Penney's $300
Car Care Credit $500
Sam's Club $637 (odd amount, and I asked them to repeat that 3 times)
Discover Secured $200
Credit One Bank $300
PayPal Smart Connect $600
Barclay Rewards Mastercard $1000
I made a chart of 1%, 5%, 9%, and 10%. That way I know when my statement closing date is and how much I want the amount to be. I have been staying at or below 10%. I read the many posts and decided that staying below 10% was my best bet, so far so good. I know that it is a lot, but I got kinda happy when I was actually approved for accounts when seven months ago my credit score was below 500. I won't be applying for anything else. I want to concentrate on building these accounts for the next two years. I also want the store accounts to upgrade from store card to credit cards.
1.27.15
EQ: 648
TR: 650 (it went up two points today...YEAH!!!)
EX: 666
That is a lot of new cards in 6 months or so. Also, a lot of the cards are horrible ones with poor to no rewards and AFs (Verve? First Premier?). A lot of new accounts and inquiries is not something you need for rebuilding. One card is enough and a few is better, but you have too many. Don't get me wrong, I have 50+ CC accounts I opened in the last 4 years or so (all but 15 closed) and I apply a lot for cards for a specific purpose (rewards, sign-up bonuses, etc). But cards like the Verve are horrible money sinks and not really needed for rebuilding. Consider closing cards like the Verve before the next AF hits (especially before they start the monthly maintenance fee routine for the second year).
As for when to get CLIs, there is no set standard. If your income and credit profile supports it, after the 6th statement cuts is a good rule of thumb (61st day or later for Amex). Many issuers allow earlier CLIs if you have the right profile and are willing to take a second HP. Given your scores, inquiries (I assume you have a ton), and new accounts, I would not recommend anything but SP CLIs for now. Close AF cards before the next AF is due. Keep the no AF cards and build your credit slowly.
@Anonymous wrote:
That is a lot of new cards in 6 months or so. Also, a lot of the cards are horrible ones with poor to no rewards and AFs (Verve? First Premier?). A lot of new accounts and inquiries is not something you need for rebuilding. One card is enough and a few is better, but you have too many. Don't get me wrong, I have 50+ CC accounts I opened in the last 4 years or so (all but 15 closed) and I apply a lot for cards for a specific purpose (rewards, sign-up bonuses, etc). But cards like the Verve are horrible money sinks and not really needed for rebuilding. Consider closing cards like the Verve before the next AF hits (especially before they start the monthly maintenance fee routine for the second year).
As for when to get CLIs, there is no set standard. If your income and credit profile supports it, after the 6th statement cuts is a good rule of thumb (61st day or later for Amex). Many issuers allow earlier CLIs if you have the right profile and are willing to take a second HP. Given your scores, inquiries (I assume you have a ton), and new accounts, I would not recommend anything but SP CLIs for now. Close AF cards before the next AF is due. Keep the no AF cards and build your credit slowly.
Yes I know. 
I didn't plan on keeping Verve, First Premier, First Access, and Credit One Bank. I plan on closing those after having it open for 11 months. Yes, there are quit a few inquiries (again). All of my store cards I plan on keeping. Mostly because I shop often at those stores and have been utilizing the coupons that come with the accounts. I was told that I could upgrade my Capital One accounts later on. I'm not sure when to do that.
@Anonymous wrote:
@Anonymous wrote:Ok now that I've basically raised deleted majority of baddies from my credit report when should I request a credit limit increase?
Here is what I have and when I opened it, plus the amount:
July 2014-
Capital One Platinum $300 (raised to $500 a few days ago-kinda bummed that it wasn't more)
August 2014-
Capital One Quicksilver $300
Capital One Secured $200
September 2014-
First Premier $300
October 2014-
WalMart $150
Target $150
Kohl's $300
Amazon $600
Macy's $600
November 2014-
Old Navy $150
American Eagle $150
Victoria Secret $350
Torrid $500
CFNA (Firestone) $900
Jared $3000
Total Card (First Access) $300
Verve $500
December 2014-
OneStopPlus $250
Express $250
Lane Bryant $300
Catherine's $300
The Limited $350
Blue Nile $1000
January 2015-
TJ Maxx $300
JC Penney's $300
Car Care Credit $500
Sam's Club $637 (odd amount, and I asked them to repeat that 3 times)
Discover Secured $200
Credit One Bank $300
PayPal Smart Connect $600
Barclay Rewards Mastercard $1000
I made a chart of 1%, 5%, 9%, and 10%. That way I know when my statement closing date is and how much I want the amount to be. I have been staying at or below 10%. I read the many posts and decided that staying below 10% was my best bet, so far so good. I know that it is a lot, but I got kinda happy when I was actually approved for accounts when seven months ago my credit score was below 500. I won't be applying for anything else. I want to concentrate on building these accounts for the next two years. I also want the store accounts to upgrade from store card to credit cards.
1.27.15
EQ: 648
TR: 650 (it went up two points today...YEAH!!!)
EX: 666
That is a lot of new cards in 6 months or so. Also, a lot of the cards are horrible ones with poor to no rewards and AFs (Verve? First Premier?). A lot of new accounts and inquiries is not something you need for rebuilding. One card is enough and a few is better, but you have too many. Don't get me wrong, I have 50+ CC accounts I opened in the last 4 years or so (all but 15 closed) and I apply a lot for cards for a specific purpose (rewards, sign-up bonuses, etc). But cards like the Verve are horrible money sinks and not really needed for rebuilding. Consider closing cards like the Verve before the next AF hits (especially before they start the monthly maintenance fee routine for the second year).
As for when to get CLIs, there is no set standard. If your income and credit profile supports it, after the 6th statement cuts is a good rule of thumb (61st day or later for Amex). Many issuers allow earlier CLIs if you have the right profile and are willing to take a second HP. Given your scores, inquiries (I assume you have a ton), and new accounts, I would not recommend anything but SP CLIs for now. Close AF cards before the next AF is due. Keep the no AF cards and build your credit slowly.
+1 Way too many store cards. And the rebuilders (major banks) are the ones you should be focusing on. All those store cards are gonna bite you when applying for prime. Are your scores picking up with the baddies gone? Shoulda, woulda, coulda, you really only needed three cards and maybe a secured installment loan (really low interest, 4 years, 2.8 to 3.2, cheaper than the annual fees for some of those cards.). Cull, it won't hurt, closed cards stay on your reports for ten years (I am planning on closing my legacy visa in March, 12th statement, before annual fee hits).
