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I feel like they all know.......

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I feel like they all know.......

Back in 2011 things were looking up. I started a company and it skyrocketed! I sold it and to this day I'm still reaping the benefits of it.

 

In 2008 I started to rebuild and establish some credit. Foolishness combined with greedy family members left me in debt and a sub 500 credit score. Fast forward to mid 2011 and I don't have a single bad account on my credit. I had over 15 collections and all are gone via PFD - awesome. My FAKO on CK went from 499 to 660 in 30 days. I didn't really track my real score back then so I couldn't tell you what it was. I do know for a fact that mid 2011 through today my reports are all clean, zero derogs, lates, etc. No BK, or CO, nothing!

 

Anyways, here's the thing. I still have a hard time getting credit, even with upper 600 to mid 700 scores (it flucuates heavily based on util).

 

To put it into perspective, I signed up for NFCU, app'd for the GoRewards, instantly denied, reconed, got a $3,700 CL. My highest CL prior was/is $4,200.

 

Stats at time of App:

 

Util: 79%

FICO: 661

Derogs: 0

Late payments:0

Income: 104k

AAoA: 10+ years (AU with on my Wife's accounts)

100% CLEAN

 

Meanwhile, my wife has 87% utilization, student loans out the wahzoo (shes a DR), and a mortgage (I'm not on it). In short high util and tons of obligations.

 

FYI - We've both paid down to less than 50% as of today, we aren't foolish, let me clear that up. We had some issues (see my other posts) that caused us to run up our cards.

 

Additionally my mother in law has a recent foreclosure, 2 collections (both cc's), and a mid 600 credit score...

 

Both my wife and mother in law get 24K @ NFCU on their cards. HOW THE HECK DID I END UP WITH ONLY 3.7K?

 

II really feel like the CRAs/Creditors know I was wreckless with my credit back in the day. Even though my reports say otherwise, I swear it's happening. I can't explain how, but I haven't been able to get into the prime scores/rates. From 2011 - 2014 I paid tens of thousands of dollars off, in full, each month on my cards. I would pay cards multiple times a week becuase I couldn't get a CLI. The only company to show me love was AMEX, and that was only on my Business account. I still to this day haven't be approved for an AMEX personal account!! BofA gave me a CLI, and I had to recon and explain that I was paying the card multiple times per week!


I guess what I want to know is, does anybody else who did PFDs or repair their credit a-la the CB methods seems to notice that we're still being treated as sub-prime customers?

 

Forgive me if this post doesn't belong here, this seems to be the most active forum here.

 

 

 

MY CC Pics are too big now - lol.
12 REPLIES 12
Valued Contributor

Re: I feel like they all know.......


@lexguru wrote:

Back in 2011 things were looking up. I started a company and it skyrocketed! I sold it and to this day I'm still reaping the benefits of it.

 

In 2008 I started to rebuild and establish some credit. Foolishness combined with greedy family members left me in debt and a sub 500 credit score. Fast forward to mid 2011 and I don't have a single bad account on my credit. I had over 15 collections and all are gone via PFD - awesome. My FAKO on CK went from 499 to 660 in 30 days. I didn't really track my real score back then so I couldn't tell you what it was. I do know for a fact that mid 2011 through today my reports are all clean, zero derogs, lates, etc. No BK, or CO, nothing!

 

Anyways, here's the thing. I still have a hard time getting credit, even with upper 600 to mid 700 scores (it flucuates heavily based on util).

 

To put it into perspective, I signed up for NFCU, app'd for the GoRewards, instantly denied, reconed, got a $3,700 CL. My highest CL prior was/is $4,200.

 

Stats at time of App:

 

Util: 79%

FICO: 661

Derogs: 0

Late payments:0

Income: 104k

AAoA: 10+ years (AU with on my Wife's accounts)

100% CLEAN

 

Meanwhile, my wife has 87% utilization, student loans out the wahzoo (shes a DR), and a mortgage (I'm not on it). In short high util and tons of obligations.

 

FYI - We've both paid down to less than 50% as of today, we aren't foolish, let me clear that up. We had some issues (see my other posts) that caused us to run up our cards.

 

Additionally my mother in law has a recent foreclosure, 2 collections (both cc's), and a mid 600 credit score...

 

@Both my wife and mother in law get 24K @ NFCU on their cards. HOW THE HECK DID I END UP WITH ONLY 3.7K?

 

II really feel like the CRAs/Creditors know I was wreckless with my credit back in the day. Even though my reports say otherwise, I swear it's happening. I can't explain how, but I haven't been able to get into the prime scores/rates. From 2011 - 2014 I paid tens of thousands of dollars off, in full, each month on my cards. I would pay cards multiple times a week becuase I couldn't get a CLI. The only company to show me love was AMEX, and that was only on my Business account. I still to this day haven't be approved for an AMEX personal account!! BofA gave me a CLI, and I had to recon and explain that I was paying the card multiple times per week!


I guess what I want to know is, does anybody else who did PFDs or repair their credit a-la the CB methods seems to notice that we're still being treated as sub-prime customers?

 

Forgive me if this post doesn't belong here, this seems to be the most active forum here.

 

 

 


79% Util is killing you.  You shouldn't have applied with it that high, I'm surprised they even approved you.  In the future if you apply for anything make sure your utility is below at least 20%.  Under 10% is best.

Personal Cards: Amex Gold, & Plat | Amex Delta Res | Amex Hilton | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR | Amex Plat
Message 2 of 13
Senior Contributor

Re: I feel like they all know.......

Agree with redpat. High utilization will do you in every time. It looks to creditors as if you are struggling and cannot pay things down.

 

661 FICO is also not going to get you very far in terms of acquiring major cards.

 

Also, if your utilization is jumping all over the place, it doesn't look stable to a potential credit grantor. They don't see progress in paying thngs down.

 

redpat has some good suggestions above. Smiley Happy



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Message 3 of 13
Super Contributor

Re: I feel like they all know.......

I agree with the replies above.  I never recommend applying for credit unless you currently sit at single-digit utilization.  Any time you "need" more credit it's tougher to get it than times where it appears you just "want" more credit.  Utilization is probably the biggest factor indicative of which category one falls into.

Message 4 of 13
Community Leader
Senior Contributor

Re: I feel like they all know.......


@redpat wrote:

@lexguru wrote:

Back in 2011 things were looking up. I started a company and it skyrocketed! I sold it and to this day I'm still reaping the benefits of it.

 

In 2008 I started to rebuild and establish some credit. Foolishness combined with greedy family members left me in debt and a sub 500 credit score. Fast forward to mid 2011 and I don't have a single bad account on my credit. I had over 15 collections and all are gone via PFD - awesome. My FAKO on CK went from 499 to 660 in 30 days. I didn't really track my real score back then so I couldn't tell you what it was. I do know for a fact that mid 2011 through today my reports are all clean, zero derogs, lates, etc. No BK, or CO, nothing!

 

Anyways, here's the thing. I still have a hard time getting credit, even with upper 600 to mid 700 scores (it flucuates heavily based on util).

 

To put it into perspective, I signed up for NFCU, app'd for the GoRewards, instantly denied, reconed, got a $3,700 CL. My highest CL prior was/is $4,200.

 

Stats at time of App:

 

Util: 79%

FICO: 661

Derogs: 0

Late payments:0

Income: 104k

AAoA: 10+ years (AU with on my Wife's accounts)

100% CLEAN

 

Meanwhile, my wife has 87% utilization, student loans out the wahzoo (shes a DR), and a mortgage (I'm not on it). In short high util and tons of obligations.

 

FYI - We've both paid down to less than 50% as of today, we aren't foolish, let me clear that up. We had some issues (see my other posts) that caused us to run up our cards.

 

Additionally my mother in law has a recent foreclosure, 2 collections (both cc's), and a mid 600 credit score...

 

@Both my wife and mother in law get 24K @ NFCU on their cards. HOW THE HECK DID I END UP WITH ONLY 3.7K?

 

II really feel like the CRAs/Creditors know I was wreckless with my credit back in the day. Even though my reports say otherwise, I swear it's happening. I can't explain how, but I haven't been able to get into the prime scores/rates. From 2011 - 2014 I paid tens of thousands of dollars off, in full, each month on my cards. I would pay cards multiple times a week becuase I couldn't get a CLI. The only company to show me love was AMEX, and that was only on my Business account. I still to this day haven't be approved for an AMEX personal account!! BofA gave me a CLI, and I had to recon and explain that I was paying the card multiple times per week!


I guess what I want to know is, does anybody else who did PFDs or repair their credit a-la the CB methods seems to notice that we're still being treated as sub-prime customers?

 

Forgive me if this post doesn't belong here, this seems to be the most active forum here.

 

 

 


79% Util is killing you.  You shouldn't have applied with it that high, I'm surprised they even approved you.  In the future if you apply for anything make sure your utility is below at least 20%.  Under 10% is best.


Hi OP,

 

First, my entire response is IMHO.

 

@661 does not equate to an upper 600 score. Since you only presented one FICO score, it's not easy to guage your response of upper 600 to mid 700 scores. What are all three of your FICO scores and how many inquiries do you have on each CB? This is the only way we can try and figure out what is going on. Although, as @redpat responded, I'm surprised too that you were approved at 79% utilization. But that is the beauty of NFCU, they give people another chance. And you will get there too! Just remember that everyone's profile is different and you should stop comparing your CLs with your DW and DM's CLs. It can only get you into trouble. Again, IMHO, you are slipping into bad credit behavior, which you don't want to do. Look at it this way. If your credit limits on all CCs were $24K and your balance is $18,960, that is a humongous CC debtload. I think this is the way creditors evaluate one's profile too. They see you as a credit risk -- one that keeps using the majority of available credit given to him. And, even at 50% utilization, that's still a big outstanding balance.

 

Second, If it were me, I would immediately have myself taken off as an AU on DW's CCs that are higher than 9% utilization. I think this may be hurting your scores too.

 

And lastly, are you "paid down to less than 50% as of today" because of the $24K new CL or was it actually "paid down" to 50%? I think this makes a big difference too.

 

You will see tremendous results by getting your overall utilization down to <10%. This will result in great CLIs. And remember, as another MyFICOer says, this is a marathon, not a sprint.

 

Good luck to you.

GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 5 of 13
Super Contributor

Re: I feel like they all know.......


@lexguru wrote:

 

 

To put it into perspective, I signed up for NFCU, app'd for the GoRewards, instantly denied, reconed, got a $3,700 CL. My highest CL prior was/is $4,200.

 

Stats at time of App:

 

Util: 79%

FICO: 661

Derogs: 0

Late payments:0

Income: 104k

AAoA: 10+ years (AU with on my Wife's accounts)

100% CLEAN

 

 

 

 


Congrats on working through the prior issues you had. That takes a lot of effort.

 

For the Utilization of 79%, can you list out which credit cards (or loans) you have for which banks, credit limit, and current balance? That can put the 79% into perspective. It is a high utilization, but the actual balance is important to understand as well.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 6 of 13
Valued Contributor

Re: I feel like they all know.......

We have a very similar score down to the wife doctor and her student loan debt.  Pretty intresting.  As others have stated your issue is utliization and other factors may be at play.  My very strong suggestion is to spend the money to join myfico and monitor both your and your wife's credit.  Having actual scores and the alerts that come with the subscription will make it much easier to see where you can make changes to improve your scores.  Until your over 670 on Fico 8 scores you won't be able to get instant solid CL's.  Take a close look at your credit report and the factors they list.  My guess is you have issues with average age of accounts also but that ulitization will kill you.  By bringing our ulitization from in the 70% area to under 20% both of our scores have soared, mine from low 600's to all over 670 and her's with similar response.  Having the data has paid off big time with our scores in the low 500's in mid 2014 and zero CC's (we gave up on credit after a meltdown).  

Message 7 of 13
Frequent Contributor

Re: I feel like they all know.......


@lexguru wrote:

Back in 2011 things were looking up. I started a company and it skyrocketed! I sold it and to this day I'm still reaping the benefits of it.

 

In 2008 I started to rebuild and establish some credit. Foolishness combined with greedy family members left me in debt and a sub 500 credit score. Fast forward to mid 2011 and I don't have a single bad account on my credit. I had over 15 collections and all are gone via PFD - awesome. My FAKO on CK went from 499 to 660 in 30 days. I didn't really track my real score back then so I couldn't tell you what it was. I do know for a fact that mid 2011 through today my reports are all clean, zero derogs, lates, etc. No BK, or CO, nothing!

 

Anyways, here's the thing. I still have a hard time getting credit, even with upper 600 to mid 700 scores (it flucuates heavily based on util).

 

To put it into perspective, I signed up for NFCU, app'd for the GoRewards, instantly denied, reconed, got a $3,700 CL. My highest CL prior was/is $4,200.

 

Stats at time of App:

 

Util: 79%

FICO: 661

Derogs: 0

Late payments:0

Income: 104k

AAoA: 10+ years (AU with on my Wife's accounts)

100% CLEAN

 

Meanwhile, my wife has 87% utilization, student loans out the wahzoo (shes a DR), and a mortgage (I'm not on it). In short high util and tons of obligations.

 

FYI - We've both paid down to less than 50% as of today, we aren't foolish, let me clear that up. We had some issues (see my other posts) that caused us to run up our cards.

 

Additionally my mother in law has a recent foreclosure, 2 collections (both cc's), and a mid 600 credit score...

 

@Both my wife and mother in law get 24K @ NFCU on their cards. HOW THE HECK DID I END UP WITH ONLY 3.7K?

 

II really feel like the CRAs/Creditors know I was wreckless with my credit back in the day. Even though my reports say otherwise, I swear it's happening. I can't explain how, but I haven't been able to get into the prime scores/rates. From 2011 - 2014 I paid tens of thousands of dollars off, in full, each month on my cards. I would pay cards multiple times a week becuase I couldn't get a CLI. The only company to show me love was AMEX, and that was only on my Business account. I still to this day haven't be approved for an AMEX personal account!! BofA gave me a CLI, and I had to recon and explain that I was paying the card multiple times per week!


I guess what I want to know is, does anybody else who did PFDs or repair their credit a-la the CB methods seems to notice that we're still being treated as sub-prime customers?

 

Forgive me if this post doesn't belong here, this seems to be the most active forum here.

 

 

 


UTIL is killing you.

Experian: 686 Transunion: 720 Equifax: 683
Message 8 of 13
Established Contributor

Re: I feel like they all know.......


@lexguru wrote:

Back in 2011 things were looking up. I started a company and it skyrocketed! I sold it and to this day I'm still reaping the benefits of it.

 

In 2008 I started to rebuild and establish some credit. Foolishness combined with greedy family members left me in debt and a sub 500 credit score. Fast forward to mid 2011 and I don't have a single bad account on my credit. I had over 15 collections and all are gone via PFD - awesome. My FAKO on CK went from 499 to 660 in 30 days. I didn't really track my real score back then so I couldn't tell you what it was. I do know for a fact that mid 2011 through today my reports are all clean, zero derogs, lates, etc. No BK, or CO, nothing!

 

Anyways, here's the thing. I still have a hard time getting credit, even with upper 600 to mid 700 scores (it flucuates heavily based on util).

 

To put it into perspective, I signed up for NFCU, app'd for the GoRewards, instantly denied, reconed, got a $3,700 CL. My highest CL prior was/is $4,200.

 

Stats at time of App:

 

Util: 79%

FICO: 661

Derogs: 0

Late payments:0

Income: 104k

AAoA: 10+ years (AU with on my Wife's accounts)

100% CLEAN

 

Meanwhile, my wife has 87% utilization, student loans out the wahzoo (shes a DR), and a mortgage (I'm not on it). In short high util and tons of obligations.

 

FYI - We've both paid down to less than 50% as of today, we aren't foolish, let me clear that up. We had some issues (see my other posts) that caused us to run up our cards.

 

Additionally my mother in law has a recent foreclosure, 2 collections (both cc's), and a mid 600 credit score...

 

@Both my wife and mother in law get 24K @ NFCU on their cards. HOW THE HECK DID I END UP WITH ONLY 3.7K?

 

II really feel like the CRAs/Creditors know I was wreckless with my credit back in the day. Even though my reports say otherwise, I swear it's happening. I can't explain how, but I haven't been able to get into the prime scores/rates. From 2011 - 2014 I paid tens of thousands of dollars off, in full, each month on my cards. I would pay cards multiple times a week becuase I couldn't get a CLI. The only company to show me love was AMEX, and that was only on my Business account. I still to this day haven't be approved for an AMEX personal account!! BofA gave me a CLI, and I had to recon and explain that I was paying the card multiple times per week!


I guess what I want to know is, does anybody else who did PFDs or repair their credit a-la the CB methods seems to notice that we're still being treated as sub-prime customers?

 

Forgive me if this post doesn't belong here, this seems to be the most active forum here.

 

 

 


WOW, that's super and I didn't know you could recon NFCU.  I got in with them through the Navy Federal League and I thought they were going to be my first 25k dollar card, but they've declined me twice already, and just recently!! Smiley Mad

 

I'd be willing to take a $3700 SL limit like you got, since they CLI on a regular basis.



(7/23/16) AMEX FICO EX 728, (6/20/16) Discover FICO TU 747, (7/24/16) Barclays FICO 750 (TC Lines $400+K) AAoA= 4.3 yrs
Message 9 of 13
Valued Member

Re: I feel like they all know.......

Hey,

 

I 100% with all of you, the util is shot. Once the CRs are updated, I'll be at less than 45%!

 

The reason for this thread though was not to talk about why I don't qualify, but why I literally know 10 people in worse (sometimes much worse) situations than mine. Even with lower scores and higher or same Util they are always getting the best CLs/rates/offers etc. 

 

I even have a friend that has a repo and 2 charge offs, and he still gets more credit at better rates with a higher score than me! DIRTY

 

I guess UTIL is really destroying me.

 

I still can't help but think there is a secret file at the CRAs that shows my old accounts that I did PFDs on! MAYBE I'M JUST LOSING MY MIND.

 

Thanks for the kind words all!

MY CC Pics are too big now - lol.
Message 10 of 13
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