How reading threads on this forum changed my financial picture.

[Anonymous]

Update 7/2/2015:   With one EQ hard pull I was approved for a PenFed Platinum Visa Signature Rewards card (5,000 CL), a PenFed Personal line of credit (3,000), and a 30,000 auto loan (won’t use since I’m preparing to purchase a home in my new city next summer); Soft pull 3,000.00 limit increase for my Venture Card (New Limit 13,000)

I’m done and in the garden till next summer with EQ 740, TU 717, EX 699

When 2015 began I had a Credit One Visa (750 CL), a Credit One MasterCard (500 CL), a Capital One Quicksilver One (1350 CL), a Capital One Secured (700 CL), an Applied Bank Visa (1650), and a Discover Student Card (500 CL).  All of the cards were maxed and my credit scores were around 630.  This was bad, but still an improvement from the 560 I started with in 2012 when I first started taking my credit serious.  I had no late pays, but I had two collections from 2011 and maxed out cards killing my score. 

I took a whole paycheck in January and paid down the limits on my cards enough to get approved for a loan amount from Avant Credit that allowed me to pay off my cards; then, I waited for my accounts to report.  After my accounts reported I was shocked to see how much my scores increased when I looked at my credit reports (EQ 747, TU 730, EX 702).  After getting my scores I immediately applied with Prosper for a signature loan and was approved with an 8% interest rate and paid off the Avant loan to avoid paying the 34% interest.

From March to June I applied for a AMEX Everyday Card (approved for a 5,000 limit), a Venture Card (approved for a 10,000 limit), a Chase Freedom Card (approved for a 2,000 limit), a Bank of America Cash Rewards Card (approved for a 3,500 limit), and just today a Citi Premier Thank You card (approved for a 2,800 limit).   I was also granted CLIs on my Capital one Quicksilver (new limit 1650), Discover (new limit 1000.00), and Credit One Visa (new limit 1100.00).

I’ve received about 700.00 in incentives and will have 625.00 more in airfare or 500.00 in gift cards after using the new Citi Card to pay my bills over the next 3 months, and most importantly….29,990.00 in available credit limits.  I pay my balances each month and leave just enough to show use.   

Took a small hit on my scores after the apps (EQ 744, TU 717, EX 699)

I think it's safe to say I had one heck of a financial turnaround and app spree!

Thanks MyFico forum members!

[Anonymous]

Excellent story! Isn't it amazing at how short of time it can take to turn your credit around? Glad you found the forums too, congrats!

[Anonymous]

I think I have this post in the wrong area.  Where should this type of post be?

[Anonymous]

What an awesome story! You acutually gave me a good idea with the Prosper loan - thanks for the inspirations!

[Berk]

Love hearing stories like this! Thanks for sharing.

[NichelleN]

What a great success story. Thanks for sharing it.

[Anonymous]

Great post! Helps us to remember the benefits of "doing it right!" Thank you!

[Anonymous]

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@Anonymous wrote:

I think I have this post in the wrong area.  Where should this type of post be?

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Probably General Credit.  We will get it moved.  Great story btw.

[Anonymous]

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@Anonymous wrote:

When 2015 began, I had a Credit One Visa (750 CL), a Credit One MasterCard (500 CL), a Capital One Quicksilver One (1350 CL), a Capital One Secured (700 CL), an Applied Bank Visa (1650), and a Discover Student Card (500 CL).  All of the cards were maxed and my credit scores were around 630.  This was bad, but still an improvement from the 560 I started with in 2012 when I first started taking my credit seriously.  I had no late pays, but I had two collections from 2011 and maxed out cards killing my score. 

I took a whole paycheck in January and paid down the limits on my cards enough to get approved for a loan amount from Avant Credit that allowed me to pay off my cards; then, I waited for my accounts to report.  After my accounts reported I was shocked to see how much my scores increased when I looked at my credit reports (EQ 747, TU 730, EQ 702).  After getting my scores I immediately applied with Prosper for a signature loan and was approved with an 8% interest rate and paid off the Avant loan to avoid paying the 34% interest.

From March to June I applied for a AMEX Everyday Card (approved for a 5,000 limit), a Venture Card (approved for a 10,000 limit), a Chase Freedom Card (approved for a 2,000 limit), a Band of America Cash Rewards Card (approved for a 3,500 limit), and just today a Citi Premier Thank You card (approved for a 2,800 limit).   I was also granted CLIs on my Capital one Quicksilver (new limit 1650), Discover (new limit 1000.00), and Credit One Visa (new limit 1100.00).

I’ve received about 700.00 in incentives and will have 625.00 more in airfare or 500.00 in gift cards after using the new Citi Card to pay my bills over the next 3 months, and most importantly….29,990.00 in available credit limits.  I pay my balances each month and leave just enough to show use.   

Took a small hit on my scores after the apps (EQ 744, TU 717, EX 699)

I think it's safe to say I had one heck of a financial turnaround and app spree!

Thanks MyFico forum members!

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This is an Amazing story, congrats on your success

[Anonymous]

Great story!