Rebuilding with a super thin file

[Anonymous]

I had a lot of old accounts drop of my CR

I recently was approved for a Cap1 QS1 on 1/15/20 SL $1,500

My only other account is an AU $14,000 CL and 14 yrs and 3 mths old which is at a 0% balance 

My 1st statement closed on my QS1 on 2/9 and I'm impatiently waiting to see if it will help my credit score at all. From what I've read it usually shows up 4-6 days after statement closes? Not sure if that's true or not but I'm hoping and waiting to see if it'll give me an increase in points, obviously knocking my age down compared to my own open TL on my account.

Also should I bother opening any new cards? And what ones might help? I tried going for a car loan with my DH on 12/28/19 but my scores were wayyy lower and his credit wasn't as good as we thought so basically they shopped the rate around and denied everywhere. Such a stupid move!

I have no installment loans or anything on my CR so I basically have a super thin file and one Paid collection that I can hopefully GW to delete.

Scores seem ok now but really its because the AU acct and a good closed old Cap1 acct, scared to see when the new CC will hit my acct and what it will do. Want to keep improving my scores to see if I could get an auto loan later this year. Also got a subscription with MyFico so I can see all my scores and reports. Thanks for any help!!

[TekkenQQ7]

Congratulations on your approval. Try and see if you prequalify for Discover or Amex before you take the secured route.  you need more than one card to improve your scores and to have a better chance in the future. good luck!

[Anonymous]

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@TekkenQQ7 wrote:

Congratulations on your approval. Try and see if you prequalify for Discover or Amex before you take the secured route.  you need more than one card to improve your scores and to have a better chance in the future. good luck!

Thank you! I actually tried discover prequal and they said they didnt have anything, stated about inquiries which I do have alot but they're from auto loans & 1 on each report from cap1 CC, I cant seem to prequal for stuff and wonder if it's because my file is so thin?

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[Anonymous]

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@Anonymous wrote:

Thank you! I actually tried discover prequal and they said they didnt have anything, stated about inquiries which I do have alot but they're from auto loans & 1 on each report from cap1 CC, I cant seem to prequal for stuff and wonder if it's because my file is so thin?

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If the scores in your sig are Fico8 and not Vantage, you shouldn't have any issue being prequalified. Prequalification is mostly just a marketing offer, it's not a guarantee, so they're not as discerning. How many inquries are you showing in the last year? If all of your auto loan inquiries were made within a short time of one another, they collapse and only count as one towards your score. A single inquiry from Cap1 wouldn't disqualify you from anything really.

It may simply be that you're not on their radars. Once you start filling out more online prequalification forms and more lenders soft pull your file you might find your mailbox starts filling up.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Thank you! I actually tried discover prequal and they said they didnt have anything, stated about inquiries which I do have alot but they're from auto loans & 1 on each report from cap1 CC, I cant seem to prequal for stuff and wonder if it's because my file is so thin?

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If the scores in your sig are Fico8 and not Vantage, you shouldn't have any issue being prequalified. Prequalification is mostly just a marketing offer, it's not a guarantee, so they're not as discerning. How many inquries are you showing in the last year? If all of your auto loan inquiries were made within a short time of one another, they collapse and only count as one towards your score. A single inquiry from Cap1 wouldn't disqualify you from anything really.

It may simply be that you're not on their radars. Once you start filling out more online prequalification forms and more lenders soft pull your file you might find your mailbox starts filling up.

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OP is showing FICO 8 as well as Bankcard 9 scores. 

How many inquiries do you have for each CB? Also, are there any negatives in the AU account?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Thank you! I actually tried discover prequal and they said they didnt have anything, stated about inquiries which I do have alot but they're from auto loans & 1 on each report from cap1 CC, I cant seem to prequal for stuff and wonder if it's because my file is so thin?

---

If the scores in your sig are Fico8 and not Vantage, you shouldn't have any issue being prequalified. Prequalification is mostly just a marketing offer, it's not a guarantee, so they're not as discerning. How many inquries are you showing in the last year? If all of your auto loan inquiries were made within a short time of one another, they collapse and only count as one towards your score. A single inquiry from Cap1 wouldn't disqualify you from anything really.

It may simply be that you're not on their radars. Once you start filling out more online prequalification forms and more lenders soft pull your file you might find your mailbox starts filling up.

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OP is showing FICO 8 as well as Bankcard 9 scores. 

How many inquiries do you have for each CB? Also, are there any negatives in the AU account?

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I realize it says FICO 8 and the 8 makes it pretty specific, I was simply confirming as I don't know OP and the mistake has been made in the past by others.

[Anonymous]

Yes to confirm those are FICO 8 for sure, I just pulled those yesterday, I have 7 inquiries on equifax and experian & 6 on Transunion. The single one from cap1 on each and the rest are all from Auto, but all pulled in one day, Dec 28th last year. I'm not sure why I dont show any prequels for different cards though? The AU account is perfect payment history and nothing bad on it. I've heard the shopping around and inquiries like that count 'as one' but it's always mentioned like with discover when I try and prequal it mentions them. Would that mean if I tried to apply and got denied I would be able to call and tell them they were just auto ones?  Thank you guys for the replies and any help, I appreciate it!