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@precision wrote:
I am officially done for 6-12 months for real.
Yeah, right
It makes perfect sense actually. A TOTALLY clean report with no negatives and good management can get you where you are in a few months. There is a thread by user -p where he did the same thing for his mom in law. 8 weeks it took for 790's. Good job btw, so happy for you especially after what you've been through. You're set up nicely for now. We'll executed. You picked a good breathing point.
...but definitely stop to breathe. You're running a marathon.
Excellent progress and I know all to well the struggle you mentioned earlier of having patience.
Did you pull the trigger on NFCU membership? You should also look into PenFed Credit Union as well...lots of great data points and reviews in the Credit Card approval section. They are very generous with starting limits and approvals for Auto Loans. These 2 combined would help you reach your 6figure CL goal in addition to work you have already started.
@cmony787 wrote:Excellent progress and I know all to well the struggle you mentioned earlier of having patience.
Did you pull the trigger on NFCU membership? You should also look into PenFed Credit Union as well...lots of great data points and reviews in the Credit Card approval section. They are very generous with starting limits and approvals for Auto Loans. These 2 combined would help you reach your 6figure CL goal in addition to work you have already started.
Thx for the encouraging words.
I keep procrastinating on the NFCU membership. I need to handle that ASAP.
@805orbust wrote:
@precision wrote:
I am officially done for 6-12 months for real.
Yeah, right
It makes perfect sense actually. A TOTALLY clean report with no negatives and good management can get you where you are in a few months. There is a thread by user -p where he did the same thing for his mom in law. 8 weeks it took for 790's. Good job btw, so happy for you especially after what you've been through. You're set up nicely for now. We'll executed. You picked a good breathing point.
Early in my research I found the -p thread. I literally stayed up all night and read what at that point was around a 45 page thread. It was very inspiring and gave me some excellent data points. I also found the thread on his mother in law shortly after that. Again very informative.
I expect that I will see a pretty stiff drop in FICO for the cards I just added. It will be interesting to see how the dust settles. But all in all I started the month with $1550 in available credit. As of today I now have 14,050. So nearly 1000% improvement in available credit in two months. Awesome.
Let's hope I get some CLI love out of Discover and Cap1 this month.
This secured card really sticks out like a sore thumb right now. Is there potentially any luck in talking BOA into making it an unsecure line this early?
I haven't updated this one in a while.
I recently applied for NFCU membership.
I Decided to give it a whirl and app for NFCU Cash Rewards.
I wasn't sure if now was the best time but i figured it would be better than waiting for my recently acquired AMZ Sync and Chase AMZ Prime cards to hit my reports and further damage my AAOA.
It was not an instant decision. I apped at around 11:30 pm and was told it needed to go to review. I wasn't concerned because I have seen many reports of needing to go to review and seeing spectacular results afterward.
3 hours later at 2:30 am I get a secured message:
Congratulations! Based on your creditworthiness, you have been approved for a cashRewards Visa credit card. Your new credit line will be $14,300.00. Your APR will be 15.15%.
They of course pulled TU and it is currently at 755 (08) with 6 inquiries at the time. I wonder what I might have gotten when my TU was at 833. I had 6 new accounts reporting in the last 4 months but in actuality 2 were not reporting yet so there were 8 new accounts. Now I have 9 accounts and I truly don't feel the need to app for anything else at this point. Growing what I have is the priority right now.
I was hoping for a greater than 20k credit line and a lower APR. Increasing that limit and reducing that APR is imperative. But putting things into perspective it is a great approval. 4 months ago I had no credit score and no available credit at all. I now have mid 7xx scores after having a 8xx score only 2 months into the process. The only reason for my score decrease is because I added more cards reducing my AAOA. I am batting 1.000 on inquiries (apps) vs. approvals. I have real bank credit cards with usable limits from prime banks. This process went further and faster than I thought possible in just 4 months.
Of course knowing what I know now I would have proceeded differently. Hindsight is always 20/20.