Approved Approved Approved

For just about anything you want to get off your chest about credit cards.
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USADR
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Approved Approved Approved

Postby USADR » Wed Jun 01, 2016 6:37 pm

I want to say thanks to this forum. Last October I joined and had a normal score of 640 now I am over 700. I had no unsecured credit cards but now have 3 with a total of $7,000 of credit line. The Barclay Arrival card was my first recommended by a member here. When I applied I was denied but following this forums advice I called the customer service # and asked for a minimum credit line. They came back with a $1,000 line of credit for me. In feb. my credit union gave me a $1,000 line of credit with a Master Card. In april I applied for the Barclay Apple card and was approved for $1500 then couple weeks ago I woke up and checking my accounts I saw they raised my limit by $3,500 with my Arrival card to $4,500 limit. Then last week I applied for a $4,000 unsecured loan at my credit union and was approved. Following members advice does work. Thank you


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Vattené
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Re: Approved Approved Approved

Postby Vattené » Wed Jun 01, 2016 7:45 pm

That's awesome, congratulations on all your progress! Once one is educated in how credit works and has a solid footing, it's not difficult to maintain good credit. Just keep treating everything responsibly and you'll continue growing
:cheers:
-Vattené
FICO-8: EX - 827 (5/17) | TU - 824 (5/17)
My Cards: Barclay Arrival+ | Discover it | Amex ED
AU:: Discover Miles | BofA BBR | Barclay Commence (SD'd)

USADR
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Joined: Mon Oct 12, 2015 4:33 pm

Re: Approved Approved Approved

Postby USADR » Wed Jun 01, 2016 8:19 pm

Vattené wrote:That's awesome, congratulations on all your progress! Once one is educated in how credit works and has a solid footing, it's not difficult to maintain good credit. Just keep treating everything responsibly and you'll continue growing
:cheers:

After I posted this I applied for the Discover IT card and am approved for $5500 Now I am going to stop getting cards because what I have been reading is that to much credit line also hurts your score. Is that correct?

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PhillyPhoto
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Re: Approved Approved Approved

Postby PhillyPhoto » Thu Jun 02, 2016 10:01 am

USADR wrote:After I posted this I applied for the Discover IT card and am approved for $5500 Now I am going to stop getting cards because what I have been reading is that to much credit line also hurts your score. Is that correct?

A lot of new accounts can bring your score down since your AAoA decreases, but that will bounce back with time. Having more available credit vs utilization will help as well, and that will actually boost your score. So if you had $1000 you carried every month, and only had a $2000 limit, that's 50% utilization. So if you get a credit limit increase to $3000, you're down to the magical 33% (and should try to even stay below 10-15%).

In the case of credit cards, less is more in that you should focus on what ones will give you rewards that fit your lifestyle instead of going for as much as you can.
Main Cards:
Amex: Ameriprise Plat, Surpass
Chase: Hyatt

Sock drawer Cards:
Amex: HHonors
Chase: Amazon Rewards, Freedom
Citi: Macy's Amex, Simplicity, ThankYou
Citizens Bank: Cash Back Plus World
Discover: it
Elan: Bank Rewards
Synchrony: PayPal

755 Eq (12/16)|748 TU (12/16)|726 Ex (1/17)



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