The Master Credit Score Mad Scientist Thread

[BobWang]

Hello all,

 

I am new to this board and look forward to getting to know everyone and learning lots of new things! I am 21 years old and currently in the Military and am taking this opportunity of having a steady income to build my credit. Here is what I currently have and the approximate length:

 

USAA Platinum Mastercard : $500 (1 yr 4 mo)

USAA Platinum Mastercard : $3000 (1 yr)

Navy Federal CU Cash Rewards Visa : $500 (10 mo)

Discover Card : 3500 (3 mo)

 

I pulled my Transunion credit score today and it was a 715. I pay all my cards off in full every month and have never carried a balance over on any of them. Normally, I don't exceed 15% at any one time before. I have no auto loans (car paid off in full), personnel loans, or a mortgage.

 

I am looking for a way to improve my score and overall credit line. I heard that getting store cards can be beneficial to my score. Is this true?

 

Looking forward to some valuable advise

 

Joe

Joe:

 

You are in a very similar situation to my other Experimental Subject.

 

Just finished Basic & Airborne School, being deployed to Korea in a week.

 

I had him join Pentagon Federal Credit Union last week, and apply for their American Express card.

 

He was denied for that card, but was approved for a Visa.

 

I'll be seeing him later today to plot the next move.

 

For him, I'm leaning towards Capital One for the 0% Foreign Exchange Transaction Fee.

 

Then, Walmart to get his TransUnion FICO 08 score.

 

You're doing fine.

 

Bob

[qwerty4]

 

Bob,

 

Did you manage to wrangle a TU 04 score, or is the TU score in your sig the WM TU 08? I believe the TU 08 ranges 316-850.

[BobWang]

Bob,

 

Did you manage to wrangle a TU 04 score, or is the TU score in your sig the WM TU 08? I believe the TU 08 ranges 316-850.

Nope, that's the Walmart TU 08.

 

I think you should see if Trev can add "Master Thread" to your score thread.

[BobWang]

ESPD (Experimental Subject Part Deux)

 

2011-11-02 07/2007 BofA (21% APR: 3,540/3,500 = 101%)

2011-11-02 08/2008 Zale's (20% APR: 0/2,000 = 0%)

2011-11-02 12/2008 BestBuy (28% APR: 1,852/5,800 = 32%)

2011-11-02 Total (5,392/11,300 = 48%)

 

2011-11-02 CK TransRisk=719, Auto=825, Vantage=742 [C]

 

2011-11-02 CS 730

 

2011-12-12 CS 731

 

2012-01-03 CS 737

 

2012-02-06 07/2007 BofA (21% APR: 529/3,500 = 15%)

2012-02-06 08/2008 Zale's (20% APR: 0/2,000 = 0%)

2012-02-06 12/2008 BestBuy (28% APR: 1,488/5,800 = 26%)

2012-02-06 Total (2,017/11,300 = 18%)

 

2012-02-06 CS 782

 

2012-03-29 07/2007 BofA (21% APR: 318/3,500 = 9%)

2012-03-29 12/2008 Zale's (20% APR: 0/2,000 = 0%)

2012-03-29 12/2008 BestBuy (28% APR: 1,419/5,800 = 24%)

2012-03-29 Total (1,737/11,300 = 15%)

 

2012-03-29 CK TransRisk=757, Auto=883, Vantage=840

 

2012-03-30 PenFed app membership + AmEx

 

2012-04-06 PenFed AmEx denied, $1k Visa offered

 

2012-04-16 07/2007 BofA (21% APR: 318/3,500 = 9%)

2012-04-16 08/2008 Zale's (20% APR:0/2,000 = 0%)

2012-04-16 12/2008 BestBuy (28% APR: 1,319/5,800 = 23%)

2012-04-16 Total (1,637/11,300 = 14%)

 

2012-04-16 CK TransRisk=757, Auto=883, Vantage=857

 

Credit Karma:

2011-11-02 CK TransRisk=719, Auto=825, Vantage=742 [C] 101% Utilization

2012-03-29 CK TransRisk=757, Auto=883, Vantage=840 24% Utilization

2012-04-16 CK TransRisk=757, Auto=883, Vantage=857 23% Utilization

 

Credit Sesame:

2011-11-02 CS 730 101% Utilization

2011-12-12 CS 731

2012-01-03 CS 737

2012-02-06 CS 782 26% Utilization

[BobWang]

2012-01-03 TransRisk 653, Auto 773, VantageScore 588 [F]

2012-01-10 TransRisk 653, Auto 773, VantageScore 588 [F]

2012-01-17 TransRisk 653, Auto 773, VantageScore 588 [F]

2012-01-27 TransRisk 653, Auto 818, VantageScore 588 [F] (12 yr-old AU account reports)

2012-02-06 TransRisk 653, Auto 818, VantageScore 589 [F]

2012-02-15 TransRisk 660, Auto 818, VantageScore 712 [C] (1st CC, Walmart $0.00 of $1.2k store card reports)

2012-02-25 TransRisk 699, Auto 865, VantageScore 762 [C] (2nd CC, Citi $2 of $4,000 reports)

2012-03-01 TransRisk 699, Auto 865, VantageScore 763 [C]

2012-03-17 TransRisk 699, Auto 865, VantageScore 753 [C] (3rd CC, NFCU $2 of $0.5k reports)

2012-03-24 TransRisk 693, Auto 865, VantageScore 751 [C] (2nd CC, Citi $2 to $36 of $4,000)

2012-04-03 TransRisk 693, Auto 865, VantageScore 753 [C] (1st CC, Walmart $2.00 of $1.2k store card reports)

2012-04-14 TransRisk 699, Auto 865, VantageScore 753 [C] (NFCU $2 to $0 of $0.5k) (2 of 3 with balances)

2012-04-17 TransRisk 699, Auto 865, VantageScore 754 [C] (Walmart $2 to $0 of $1.2k) (1 of 3 with balances)

[BobWang]

I had ES2 log into PenFed to see whether the Visa has shown up.

 

Hasn't, and he has an LOC showing.

 

Went to the Apply tab, and PenFed is waiting on last 2 pay stubs since March.

 

OK, had ES2 print out and fax in pay stubs.

[BobWang]

BOTH ES1 & ES2 got pre-approved offers for Chase Freedom, $100 after first purchase.

 

Had ES1 go ahead and apply, got "Further processing" message.

[cashnocredit]

Not many lab rats emerge from the lab better off. I like your experimental style.

[BobWang]

I'm thinking I'll just pay off ES2's credit card debt.

 

Army FUBAR'd his plane ticket to Seattle, so that has to be out of pocket too, mine.

[CIO]

You're becoming the uber-military Daddy. My military ties are *slightly* different.

 

http://www.cmt.com/videos/misc/580074/whos-your-daddy-from-invitation-only.jhtml

Edited April 18, 2012 by CIO

[patz2009]

BOTH ES1 & ES2 got pre-approved offers for Chase Freedom, $100 after first purchase.

 

Had ES1 go ahead and apply, got "Further processing" message.

 

I got the Chase Freedom when they were running one of their $300 after $500 in spending promos, I was surprised that they accepted me and over doubled my available credit at the time. It was arguably my first "big boy" card, and probably the thing that finally pushed Citi into approving me for the Forward. Of course I have a horrid 19.99% APR, but I never carry a balance on it so I don't mind.

 

 

 

 

The short of it is: I'm surprised how easy to get the Chase Freedom seems to be.

 

 

 

Edited April 18, 2012 by patz2009

[lp52]

Mr. Wang,

I need your help!!!!

[BobWang]

Mr. Wang,

I need your help!!!!

Ask away, lots of CBers can offer solid advice.

[BobWang]

Had ES2 check Capital One site.

 

"Pre-qualified" for Cash Rewards MasterCard.

 

Pulled trigger.

 

Got 7-10 day message.

[BobWang]

Set up ES2's Best Buy store card in my Alliant checking.

 

Pushed $1 test payment last night.

 

This morning still shows as "Paper Check" not "Electronic"

[BobWang]

Oh, ES1 only got offered Cap One cards with AFs.

 

Pass.

[BobWang]

AND ES2 "qualifies" for AmEx Gold, 25k MR, 25k $10k spend, 25k $10k spend.

 

I'm tempted to have ES2 app, and I'll put the $20k on the card for 75,000 MRs.

[CIO]

If the reports that banks are opening the credit spigot this year are true, this is a very good time to be an ES under CPS mentoring. My next project's hurdle is Andrews membership and LOC. They received a PenFed "what used to be 'golden box'" CC preapproval at 6 months membership. SIX MONTHS!!! I didn't receive golden box preapprovals for almost a year. Approved, no hard pull and no docs required.

Edited April 19, 2012 by CIO

[BobWang]

ES1:

 

2012-01-03 TransRisk 653, Auto 773, VantageScore 588 [F]

2012-01-10 TransRisk 653, Auto 773, VantageScore 588 [F]

2012-01-17 TransRisk 653, Auto 773, VantageScore 588 [F]

2012-01-27 TransRisk 653, Auto 818, VantageScore 588 [F] (12 yr-old AU account reports)

2012-02-06 TransRisk 653, Auto 818, VantageScore 589 [F]

2012-02-15 TransRisk 660, Auto 818, VantageScore 712 [C] (1st CC, Walmart $0.00 of $1.2k store card reports)

2012-02-25 TransRisk 699, Auto 865, VantageScore 762 [C] (2nd CC, Citi $2 of $4,000 reports)

2012-03-01 TransRisk 699, Auto 865, VantageScore 763 [C]

2012-03-17 TransRisk 699, Auto 865, VantageScore 753 [C] (3rd CC, NFCU $2 of $0.5k reports)

2012-03-24 TransRisk 693, Auto 865, VantageScore 751 [C] (2nd CC, Citi $2 to $36 of $4,000)

2012-04-03 TransRisk 693, Auto 865, VantageScore 753 [C] (1st CC, Walmart $2.00 of $1.2k store card reports)

2012-04-14 TransRisk 699, Auto 865, VantageScore 753 [C] (NFCU $2 to $0 of $0.5k) (2 of 3 with balances)

2012-04-17 TransRisk 699, Auto 865, VantageScore 754 [C] (Walmart $2 to $0 of $1.2k) (1 of 3 with balances)

2012-04-19 TransRisk 694, Auto 865, VantageScore 750 [C] (Chase Freedom app 4/17, 5 to 6 inquiries)

2012-04-21 TransRisk 694, Auto 865, VantageScore 751 [C] (Citi $36 to $23 of $4k)

[BobWang]

ES2:

 

2012-04-20 Best Buy $1,219 to $0 of $5,800 (Statement closes 4/30)

2012-04-20 PenFed Visa approved for $1,000.00 (Not showing in accounts yet)

[BobWang]

ES2:

 

Credit Karma:

2011-11-02 CK TransRisk=719, Auto=825, Vantage=742 [C] 101% Utilization

2012-03-29 CK TransRisk=757, Auto=883, Vantage=840 24% Utilization

2012-04-16 CK TransRisk=757, Auto=883, Vantage=857 23% Utilization (11%, 14 accts, 1 inq, $1,637)

2012-04-21 CK TransRisk=745, Auto=857, Vantage=844 14% Utilization (10%, 14 accts, 1 inq, $1,321)

2012-04-25 CK TransRisk=740, Auto=843, Vantage=838 14% Utilization (10%, 14 accts, 2 inq, $1,321)

[BobWang]

BOTH ES1 & ES2 got pre-approved offers for Chase Freedom, $100 after first purchase.

 

Had ES1 go ahead and apply, got "Further processing" message.

4/25 ES1 denied for "Pre-Approved" Chase Freedom, "Debt to Income" given as reason.

 

$4k student loan on $8k income

[Repairerer]

Isn't it deferred?

[BobWang]

Isn't it deferred?

Yes, but it still shows as debt.

 

Credit card debt is only $36

[Repairerer]

It was always my understanding that was a cash flow consideration. That totals did not matter, monthly obligations did. Maybe they don't think she can handle the $36, lol.