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No CLI luv from SDFCU :(

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jmcmillan
Frequent Contributor

No CLI luv from SDFCU :(

I’m seriously bummed. I’m currently wrapping up my app-spree, and part of the spree was asking for a CLI on my SDFCU credit card. It currently sits at $2,000. Since there’s no credit denials forum, I thought I would spread my tears here.  SDFCU was the first bank to approve me for a secured card after my bankruptcy, after I got denied by many others.  I really thought I’d get some love from them since they approved me last year, and I was just approved for Apple Card, Capital One Venture, and Truist. (None of these are reporting yet)

 

My history with SDFCU:

January 2021 - opened secured credit card with $1,000 deposit

January 2022 - secured card graduated

February 2022 - I requested a CLI and got an extra $1,000

February 2023- no luv ☹️

 

My credit profile:

 

BK discharge 12/2020

Several 90- day lates on student loans (current since the bankruptcy)

clean history since bk, 5 credit cards reporting, with AZEO, 9% balance reporting.

EX FICO 8 651

EX FICO 2 672 (SDFCU used this)

EX recent inquiries: 2

Message 1 of 11
10 REPLIES 10
FireMedic1
Community Leader
Mega Contributor

Re: No CLI luv from SDFCU :(

Sorry about the denial. After those new cards start reporting. No more apps till your in the 700's. Garden till '24. You'll be shocked how much more can come your way once you pass it. I came up with a saying after being here for a while and seeing trends for post BK'ers. Keep applying in the 600's and you'll stay in the 600's. Once your in the 700's. It stays there with proper timing apps and more age.


Message 2 of 11
TRC_WA
Senior Contributor

Re: No CLI luv from SDFCU :(


@FireMedic1 wrote:

Sorry about the denial. After those new cards start reporting. No more apps till your in the 700's. Garden till '24. You'll be shocked how much more can come your way once you pass it. I came up with a saying after being here for a while and seeing trends for post BK'ers. Keep applying in the 600's and you'll stay in the 600's. Once your in the 700's. It stays there with proper timing apps and more age.


I second this.

 

I"m doing exactly that... gardening till '24 when I will be in the 700's after my BK 13 falls off.

FICO8 current as of : ----- EQ: --- TU: --- EX: ---
Hard INQs last 12 months: EQ: 5 | TU: 7 | EX: 9
Verizon Visa $6500 Amex Delta Platinum $10,000 Care Credit $12,000
NFCU CashRewards $6000 Apple Card $2000 Best Buy $3500 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) $44k new - balance $31k/6.94%
Total CL: $45,000 --- Total CC UTI: --% --- AAoA: 5.5 years --- Income: $200k
Last app: 11-30-23
Message 3 of 11
jmcmillan
Frequent Contributor

Re: No CLI luv from SDFCU :(

@TRC_WA @FireMedic1 

 

I definitely don't plan on applying for anything for a while. I'm not interested in junk cards, and I'm content with what I have for now.  My Discover with cash back match, and Venture card are going to keep me busy for a while!

Message 4 of 11
FireMedic1
Community Leader
Mega Contributor

Re: No CLI luv from SDFCU :(

@jmcmillan Excellent. Maybe you've seen it maybe not. I started with the get to 700 thread. Then made some tweaks. Got the 3 cards to start it off. Already had a reaffirmed car loan. Let them age some and fortunately my car (only) loan dropped below 8%. Here came 700. Went for the next card. Score hits came. Dropped a tad into the 600's again. Let it ride. Hello 700. Went for the next one. Score hits. Wait. And eventually  I believe I was at 6 cards 3 yrs out. Then 710's were the base. Kept at it. Then 720's. Never looked back. I'm stuck with 730's I guess till fall off. 2 yrs ago was the house and new SUV. My only denial was AMEX because I opened a new checking account at NFCU when I joined and got the More Rewards at the same time. AMEX didnt like that. Waited a year. Then! Approved at 6yrs with BCP. So the marathon and not a sprint is true. Slow and steady will and does win the race.


Message 5 of 11
jmcmillan
Frequent Contributor

Re: No CLI luv from SDFCU :(

@FireMedic1 

 

Unfortunately I have numerous 90+ day lates on several student loans from 2019 and 2020 (I believe there are 6 accounts with the late payments reporting). The delinquencies were resolved shortly after my discharge. Because of this, my post-discharge rebuild is going much slower than most. I just have to take my time. I am thankful to SDFCU for giving me a secured card when I couldn’t even get a Capital One card after bankruptcy. I just hope they eventually grow with me.

Message 6 of 11
FireMedic1
Community Leader
Mega Contributor

Re: No CLI luv from SDFCU :(

Oh it will happen. There were times like come on scores move! Plateaus happened. Then its like you made it over the hump and things becomes much easier. You'll get there. Enjoy your spree!


Message 7 of 11
TRC_WA
Senior Contributor

Re: No CLI luv from SDFCU :(


@FireMedic1 wrote:

 I'm stuck with 730's I guess till fall off. 


@FireMedic1 

 

Man those 730's are just horrible.  Smiley LOLSmiley LOL

 

This just reinforces a comment I made recently about how it seems Ch 7 filers have an easier rebuild than those who file Ch 13.  I waited through 5 years of payments to get my discharge... and when I did I was in the 630's range across all 3 CB's.  

 

This was with 3 positive accounts reporting that I had opened a year or so prior to discharge... along with the 5 negatives, 1 collection and the PR.

 

I haven't sniffed 700 on FICO 8 yet.  The 670's where I am now is as close as I've gotten and while I am carrying around 24% CC debt I don't know how much I'd gain if I were at 1%.  Maybe 700?  I seriously doubt I'd be 730+.  I mean I just had 2 of the 5 neg accounts and the collection removed from TU last week and I gained ONE point.

 

But yet there you are at 730+ with a PR showing.

 

For whatever reason I feel like my PR is still dragging me down.  I don't much care at this point I've got less than a year till it's gone but it really puzzles me every time I look at my scores because I have no baddies for 6+ years now but here I am at 670.

 

Smiley LOL

 

 

FICO8 current as of : ----- EQ: --- TU: --- EX: ---
Hard INQs last 12 months: EQ: 5 | TU: 7 | EX: 9
Verizon Visa $6500 Amex Delta Platinum $10,000 Care Credit $12,000
NFCU CashRewards $6000 Apple Card $2000 Best Buy $3500 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) $44k new - balance $31k/6.94%
Total CL: $45,000 --- Total CC UTI: --% --- AAoA: 5.5 years --- Income: $200k
Last app: 11-30-23
Message 8 of 11
FireMedic1
Community Leader
Mega Contributor

Re: No CLI luv from SDFCU :(

Get below 6% and come back and display your results. You'd be surprised how much util does to a score. 700? I believe its achievable. Plus quit paying interest. Or send me the money your throwing out. Smiley Surprised


Message 9 of 11
TRC_WA
Senior Contributor

Re: No CLI luv from SDFCU :(


@FireMedic1 wrote:

Get below 6% and come back and display your results. You'd be surprised how much util does to a score. 700? I believe its achievable. Plus quit paying interest. Or send me the money your throwing out. Smiley Surprised


@FireMedic1 

 

You'll be the first to know when I'm there... which will be late 2023.

 

Not paying interest though... got 8-14 months left on 0% offers on my Reflect... Ollo Rewards... and PenFed Gold.  Smiley LOL

FICO8 current as of : ----- EQ: --- TU: --- EX: ---
Hard INQs last 12 months: EQ: 5 | TU: 7 | EX: 9
Verizon Visa $6500 Amex Delta Platinum $10,000 Care Credit $12,000
NFCU CashRewards $6000 Apple Card $2000 Best Buy $3500 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) $44k new - balance $31k/6.94%
Total CL: $45,000 --- Total CC UTI: --% --- AAoA: 5.5 years --- Income: $200k
Last app: 11-30-23
Message 10 of 11
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