will auto loan increase my chances of getting approved for better credit cards???

[Anonymous]

So, my car took a dump on me in Jan 2013. Got approved for an auto loan( got a brand new spanking 2013) and ofcourse this bumped up my credit score by a bit. My question, now that the auto loan is visible on all three credit reports, will this improve my chances of getting approved for better credit cards???   my credit scores are as follow  EX: 650   EQ: 651 TU: 720.    Any input would be greatly appriciated as I have only 3 cards: First premier, CapOne and Credit one, all three card I got over 1 and a half years ago with my credit score being in the extremely low 500(credit one is the most recent at 1 1/2 year and got approve with 510 credit score)

[Creditaddict]

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@Anonymous wrote:

So, my car took a dump on me in Jan 2013. Got approved for an auto loan( got a brand new spanking 2013) and ofcourse this bumped up my credit score by a bit. My question, now that the auto loan is visible on all three credit reports, will this improve my chances of getting approved for better credit cards???   my credit scores are as follow  EX: 650   EQ: 651 TU: 720.    Any input would be greatly appriciated as I have only 3 cards: First premier, CapOne and Credit one, all three card I got over 1 and a half years ago with my credit score being in the extremely low 500(credit one is the most recent at 1 1/2 year and got approve with 510 credit score)

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It will help TONS!

Send Exec office on Capital One an email asking them to CLI and give you some rewards and waive annual fee.

Close First premier now

Close Credit one now

Go to Citicards.com and do pre-qual system - those offers have been like 99% approved if offered something and applied.

same over at chase.com on pre-qual.

discover is pretty good too but they do something like capital one... pre-approved offer for you and a suggestion type message for you... if you get the full on pre-approval at discover that is a done deal... otherwise it's up in the air but you are probably pretty good right now.

TU being 720 anything GE under the sun you could probably get some amazing lines with PayPal MasterCard, Chevron Visa, Gap Visa, TJMax MasterCard, the list goes on and on... Lowes... Walmart Discover is always a favorite because of free monthly TU fico score.

[Anonymous]

Define "better". You might be approved for AMEX Green Card/Gold card. How long ago did you recent ap for the car loan? # of Inqs? Any baddies on your report?

[Anonymous]

The Good

I have a auto loan that is in good standing since 01/2013

Capital1                                  good standing since 12/2011

First premier bank                good standing since 06/2011

credit1                                     good standing since 06/2012

No late payment on any of the above and am under 15% util.

The bad

I have 2 collection from 2010 and 2009( both combine for a grand total of $760)

I have 1 missed payment on an auto loan from 02/2010 that has been paid in full

I have 1 bad debt/collections charge off/payment after charge off  from a student loan  01/2006 ( long story short, parents didn't qualify for support, so I had to sign for a loan, never knew i was signing for a loan, thought it was another school application, young and dumb at 20)

When I mean 'better" cc's, I mean prime cc's. Like i said, i got nothing but credit rebuilder and would like a cc that has some nice perks and low apr.

[Revelate]

Wait a month until late July early August. 

Then I would suggest pulling a real FICO score as I suspect what you have are freebie or otherwise from some credit monitoring service.  If I personally had to pay for one regarding credit card apps, I'd probably pull the EX one from here.

Before that I'd see about paying a little early on my credit cards on this next cycle to try to really make it pretty, but it certainly seems as though you're in the ballpark for some of the entry-level quality cards, I simply think you can look better in another 1.5 months or so from what you posted.

[Anonymous]

All three credit scores are from this website, myfico.       What do you mean pulling a 'real' FICO score?

[Creditaddict]

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@Anonymous wrote:

All three credit scores are from this website, myfico.       What do you mean pulling a 'real' FICO score?

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Those are REAL! you did good on that....

You have a TU 720 from this site, you are golden for Barclay and any GE you want.... Barclay should be fantastic for your 0% for 12-15 months and any GE just for new high limit/grow fast cards.

throw in an American Express Gold Charge for fun if you want.

[HiLine]

So what baddied do you have on your credit reports? Based on your score, you probably qualify for the Discover It and can ditch the First Premier afterwards...