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  1. #1
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    Talking What should be my next step?

    I've been rebuilding my credit for some time now and my score has finally gotten good enough to really make some moves. Here's what i have:

    Express Store card $1250 opened 7/07
    Cap One Platinum $750 opened 5/10
    AMEX Optima $500 opened 11/12
    Barclay's USAirways Card $1900 opened 1/13

    My credit scores are as follows according to AMEX's creditsecure service:

    TU 699
    EX 699
    EQ 634

    all as of 2/9/13

    Myfico.com score is 676 as of 2/17/13

    I havent applied for anything other than my 2 most recent cards since 11/2011 but stupid comcast cable did make a hard pull on my credit.

    I got in credit card trouble back in 2007 and fell behind on several of my cards i had back then. that same year i paid them all off and closed them for less than amount owed. some of those are still reporting that i settled for less than amount owed. 2 to be exact, wells fargo and chase.

    I tried to get a CLI with capone to no avail. AMEX as per optima terms i cant get a CLI. Express just gave me a CLI in december to 1250. Up until recently i used my capone card heavily to see if they raised my CLI but they didn't even after calling and asking for one just yesterday. Since i have my barclay card that is #1 card now since january. all others have zero balance for several months now.

    Any advice would be greatly appreciated! Thanks in advance
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  2. #2
    Centurion Member MemberSince99's Avatar
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    Cap One is unlikely to ever give you a CLI. And that Amex card is certain to never give you one. (I know you know this already).

    Basically, that means those cards won't grow tih you (the Amex wasn't meant to and the Cap One doesn't by design).

    My suggestions would be Chase Freedom and Discover IT. I would suggest Amex Green also but I have read numerous times Amex will not give you a "normal" card so long as you have a card like Optima, if indeed it's an Optima Oasis (you burned them in the past but paid it off and they gave you that card). You would have to close the Optima in that case to get a Green from what I've read.

    So I would apply for those cards. Use them 6 months to a year, preferably a year to build your score further. At that point, if you are good with Amex, consider closing the Optima and going for Green or Gold, or BCE if that suits you better. Also consider closing the Cap One at that point especially if it has an annual fee (I'm guessing 39 dollars?). The ONLY thing keeping it alive now is the fact it's a couple of years old and will help your AAoA. But once you have a couple of decent cards that can grow with a year each under their belts, you don't need that.

    Just grow things slowly prune as needed (get rid of the weeds) and you will do great over time. That gives you a year to 18 months to go on.
    FICOS
    TU: 785 January 2014
    EQ: 772 January 2014
    EX: 773 January 2014
    TU08 (Barclay's) 794 February 21 2014
    Discover 798 April 15 2014

    Cards:
    Associated Bank Accelerated Rewards Signature Visa 21.5k (05/12)
    Chase Sapphire Preferred Signature Visa 5k (5/13)
    Amex Gold NPSL (5/13 - backdated to 5/99)
    Barclay's Arrival World MasterCard 10k (11/13)
    Citi Dividend Visa 6.3k (12/13)
    Chase Freedom Signature Visa 7k (1/14)
    Bank of America Travel Rewards Signature Visa 10k (2/14)
    Discover IT 4.5k (2/14)
    Amex Everyday Preferred 2k (3/14 - backdated to 3/99)

    Garden: Card carrying Garden Club member. Gardening until 2014!
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  3. #3
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    GE Capital cards are great for generous CLIs, from what I have read. Not sure about their approval standards. Go here GE Capital Partners & Contact Numbers | Retail Partners and check out the retailers that they brand with. There are over a couple of dozen so there should be something that appeals to you.

    One caveat about the Amex. Be careful closing the card you have to apply for another, assuming the Optima is important to you. I remember reading about one person who closed an Amex card to open a different one and they declined him for the new card. When he asked for the old one back, they declined him for that, too!
    Cards and Credit lines Acquired:

    Escape by Discover, Barclay Holland America Visa, Macy's store card, Bloomingdale's store card, Citi Custom Credit Line, PayPal Smart Connect credit line, Chase Sapphire Visa, Chase United MileagePlus Visa, Amazon store card, and Lord & Taylor.

    Closed: Dell Financial Services credit line. They cut my limit, so I cut the cord. Capital One. If they won't work with me, my other cards will!
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  4. Centurion Member MemberSince99's Avatar
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    Quote Originally Posted by randeman View Post
    GE Capital cards are great for generous CLIs, from what I have read. Not sure about their approval standards. Go here GE Capital Partners & Contact Numbers | Retail Partners and check out the retailers that they brand with. There are over a couple of dozen so there should be something that appeals to you.

    One caveat about the Amex. Be careful closing the card you have to apply for another, assuming the Optima is important to you. I remember reading about one person who closed an Amex card to open a different one and they declined him for the new card. When he asked for the old one back, they declined him for that, too!
    That is always a risk. But then the Optima won't grow with you anyway so in a sense there is little to lose once you have other, better cards.
    FICOS
    TU: 785 January 2014
    EQ: 772 January 2014
    EX: 773 January 2014
    TU08 (Barclay's) 794 February 21 2014
    Discover 798 April 15 2014

    Cards:
    Associated Bank Accelerated Rewards Signature Visa 21.5k (05/12)
    Chase Sapphire Preferred Signature Visa 5k (5/13)
    Amex Gold NPSL (5/13 - backdated to 5/99)
    Barclay's Arrival World MasterCard 10k (11/13)
    Citi Dividend Visa 6.3k (12/13)
    Chase Freedom Signature Visa 7k (1/14)
    Bank of America Travel Rewards Signature Visa 10k (2/14)
    Discover IT 4.5k (2/14)
    Amex Everyday Preferred 2k (3/14 - backdated to 3/99)

    Garden: Card carrying Garden Club member. Gardening until 2014!
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  5. #5
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    Thanks for the replies!! Sounds like people around here really like the chase freedom card! Would I be approved though? I used to have a card with chase and it wet to collections and I ended up settling with them for less than what I owed. Will they automatically deny me because of that??
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  6. #6
    Centurion Member MemberSince99's Avatar
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    They may. If you are on their blacklist I've read it won't even pull your credit and the denial reason will say something to the effect of a prior relationship with them that was unsatisfactory. Even if you aren't on their blacklist, they won't have forgotten it most likely. Depends on how long ago, but in my case I charged off two of their cards for a lot of money in 2002. Last year I applied and was declined, I called in for 3 recons. In every case I was asked to explain the charge offs. You will probably need to recon, maybe a couple of times, it's all about getting the right analyst. I think they would be a great bank to get back in with. I closed my Freedom because they flat out told me I'm on probation with them for up to 2 years and I was not patient enough to wait that out when I had cards with over 10k limits. I wish I had hung onto it, but it's water over the dam now. So be prepared to prove yourself to them all over again if you want to do it. I think it's more than understandable. And they are a good bank to be in with. If I app for anything, I may get another Freedom and hang onto it and just do the 2 year probation with them until I can hopefully one day get a CSP. Those are all I'd really be at all interested in at this point.
    FICOS
    TU: 785 January 2014
    EQ: 772 January 2014
    EX: 773 January 2014
    TU08 (Barclay's) 794 February 21 2014
    Discover 798 April 15 2014

    Cards:
    Associated Bank Accelerated Rewards Signature Visa 21.5k (05/12)
    Chase Sapphire Preferred Signature Visa 5k (5/13)
    Amex Gold NPSL (5/13 - backdated to 5/99)
    Barclay's Arrival World MasterCard 10k (11/13)
    Citi Dividend Visa 6.3k (12/13)
    Chase Freedom Signature Visa 7k (1/14)
    Bank of America Travel Rewards Signature Visa 10k (2/14)
    Discover IT 4.5k (2/14)
    Amex Everyday Preferred 2k (3/14 - backdated to 3/99)

    Garden: Card carrying Garden Club member. Gardening until 2014!
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  7. #7
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    What's so great about the chase freedom card anyway? I also one day would like a CSP card but that 2 year probation doesn't sound very appealing. I would also not have the patience.

    I had a card that went to collections with them in 2007 and I settled the same year for less than what was owed. Sounds to me like I have a slim to none chance of getting approved with chase even if I try and recon? What else can I do? I considered the amazon card, I have been eyeing a new MacBook Pro tho too so I'm not sure what would be a good option for that.
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  8. Centurion Member MemberSince99's Avatar
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    The only way to know for sure if you are on their blacklist is to app and see what happens. Given it was so short a time ago I highly doubt they would give you a card you will probably have to wait a while longer and then fight to get one.

    If you want my opinion for whatever it's worth, I wouldn't waste an inquiry right now on something you have little chance to get.

    The Amazon store card is GE, the Amazon Visa is Chase, so you won't be likely to get that. There is a difference between the two. GE might be a realistic shot, though I doubt they will start you off with enough to be a MacBook but they give auto clis every few months with responsible use.
    FICOS
    TU: 785 January 2014
    EQ: 772 January 2014
    EX: 773 January 2014
    TU08 (Barclay's) 794 February 21 2014
    Discover 798 April 15 2014

    Cards:
    Associated Bank Accelerated Rewards Signature Visa 21.5k (05/12)
    Chase Sapphire Preferred Signature Visa 5k (5/13)
    Amex Gold NPSL (5/13 - backdated to 5/99)
    Barclay's Arrival World MasterCard 10k (11/13)
    Citi Dividend Visa 6.3k (12/13)
    Chase Freedom Signature Visa 7k (1/14)
    Bank of America Travel Rewards Signature Visa 10k (2/14)
    Discover IT 4.5k (2/14)
    Amex Everyday Preferred 2k (3/14 - backdated to 3/99)

    Garden: Card carrying Garden Club member. Gardening until 2014!
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  9. #9
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    Quote Originally Posted by MemberSince99 View Post
    The only way to know for sure if you are on their blacklist is to app and see what happens. Given it was so short a time ago I highly doubt they would give you a card you will probably have to wait a while longer and then fight to get one.
    Maybe, but there could be other reasons not to extend credit other than a "blacklist". It's hard to know about this unless someone explicitly tells you "we'll never extend you credit again!"
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  10. #10
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    Quote Originally Posted by Sevenfeet View Post
    Maybe, but there could be other reasons not to extend credit other than a "blacklist". It's hard to know about this unless someone explicitly tells you "we'll never extend you credit again!"
    And even then they might not tell you specifically why you were declined. If they say anything about "past relationship," however, that would be a dead giveaway.
    Cards and Credit lines Acquired:

    Escape by Discover, Barclay Holland America Visa, Macy's store card, Bloomingdale's store card, Citi Custom Credit Line, PayPal Smart Connect credit line, Chase Sapphire Visa, Chase United MileagePlus Visa, Amazon store card, and Lord & Taylor.

    Closed: Dell Financial Services credit line. They cut my limit, so I cut the cord. Capital One. If they won't work with me, my other cards will!
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