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DeeJay8385
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Posts: 44
Joined: Fri Sep 13, 2013 3:51 am
Location: Las Vegas

New to the forums

Postby DeeJay8385 » Fri Sep 27, 2013 7:42 pm

Hey guys/girls
After lurking on the forums for a week I finally joined. As my signature states I recently was approved for a AMEX CBE credit card and was reading abt the 3x CLI after 61 which sounds really good and I plan on doing that. I have a few questions though. I was approved on 9/24/13 so 61 days after my acct was approved would be 11/25/13? Also I would like my scores to be around 700-759. How likely am I to achieve that goal? My balances on my discover card is $232 and my capital one is $102 with a utilization rate of 12%? I also have my auto loan through capital one and the balance of that is $17k. I never missed any payments and always paid my bills on time and paid extra over the last two years. I have this app called credit karma which is a great app and it said that with my limited credit history (oldest credit card is 2.25 yrs) it will be hard to get better rates. I hope someone can shed some light on me and I'm glad to be apart of this forum
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14


Robrus1
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Posts: 797
Joined: Tue Oct 02, 2012 3:25 pm
Location: Texas

Postby Robrus1 » Fri Sep 27, 2013 10:53 pm

Welcome to the forum.

OK, 11/25/13, or maybe a day after, yes. You're doing well and on the right track. Keep paying on time and keep watching Credit Karma, but keep in mind that it is not your real FICO score, it could vary significantly. I'm really kind of surprised that your scores aren't higher after 2 years of on time payments. Do you have any charge offs, or unpaid debt of any kind? I would think in another 6-12 months your scores should come up quite a bit. Credit Karma Trans Union. You can also watch Credit Sesame, which is Experian.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

DeeJay8385
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Posts: 44
Joined: Fri Sep 13, 2013 3:51 am
Location: Las Vegas

Postby DeeJay8385 » Fri Sep 27, 2013 11:14 pm

Between 4-6 years ago I had some medical bills and a BOA credit card bill that went to collections and I had paid them all off in 2010-2011 and that's when I had got my secured card with CapOne. I don't have any charge off's either. I do hope my scores come up within the next year or so bc I would like to purchase a house in the next 2 years. I did look at credit sesame and I also receive my credit scores from all 3 credit agencys through BOA Privacy Assist every 3 months
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14

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Snowman
Centurion Member
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Posts: 630
Joined: Thu May 10, 2012 10:10 pm
Location: North Los Angeles County

Postby Snowman » Sat Sep 28, 2013 2:21 am

Deejay- I think like Robrus said, you are doing well. I think it is more of your baddies need to age (and this is what is hurting your score the most. Amex doesn't like anything to do with collection accounts...surprised that they approved you, but you did pay it off so that maybe the reason they let you back in.) If anything, keep your utilization pretty low, and don't app for at least a year before you buy a house. Good luck!
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

SuperKirby
Platinum Member
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Posts: 73
Joined: Tue Mar 19, 2013 1:41 pm
Location: LAS / OKC

Postby SuperKirby » Sun Sep 29, 2013 2:22 pm

Snowman wrote:Deejay- I think like Robrus said, you are doing well. I think it is more of your baddies need to age (and this is what is hurting your score the most. Amex doesn't like anything to do with collection accounts...surprised that they approved you, but you did pay it off so that maybe the reason they let you back in.) If anything, keep your utilization pretty low, and don't app for at least a year before you buy a house. Good luck!


I agree here. Don't get any hard inquiries for 12 months if you want to buy a house.

takeshi
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Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Postby takeshi » Mon Sep 30, 2013 11:23 am

DeeJay8385 wrote:My balances on my discover card is $232 and my capital one is $102 with a utilization rate of 12%?

If your signature is correct and all your other cards have no balance then your overall utilization is 8% (232+102) / (651+1500+1000+1000).

Discover utilization is ~15% (232/1500).
CO utilization is ~16% (102/651).

Seems like you're doing well and it's just going to take time to rebuild.

DeeJay8385
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Posts: 44
Joined: Fri Sep 13, 2013 3:51 am
Location: Las Vegas

Postby DeeJay8385 » Mon Sep 30, 2013 5:42 pm

Yes my balances are correct! CK said I'm doing an excellent job of keeping my utilization low. I have 59 on time payments but with 7 inq I know it took a ding. Also if I pay oft balance on my discover and CO card will that increase my scores or I should have a small balance?
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14

SuperKirby
Platinum Member
Platinum Member
 
Posts: 73
Joined: Tue Mar 19, 2013 1:41 pm
Location: LAS / OKC

Postby SuperKirby » Mon Sep 30, 2013 6:31 pm

DeeJay8385 wrote:Yes my balances are correct! CK said I'm doing an excellent job of keeping my utilization low. I have 59 on time payments but with 7 inq I know it took a ding. Also if I pay oft balance on my discover and CO card will that increase my scores or I should have a small balance?


In a nut shell, out of all credit cards (revolvers) you have, you should always let 1-2 cards report 1-9% utilization. For most people, reporting 1 card is better than 2, however, only you can test it out and will know for sure.

DeeJay8385
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Posts: 44
Joined: Fri Sep 13, 2013 3:51 am
Location: Las Vegas

Postby DeeJay8385 » Tue Oct 01, 2013 3:15 am

Thanks superkirby, I'll see what happens with my next CR
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14



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