Ky Guy

Hey LOX...been reading your post and wanted to ask a question.....you mentioned a couple times that $200=$1000 loan and $500 savings=$2000 loan....can you please explain....I know I can go to the bank a secure a loan with a CD but only for the same amount to my understanding......in other words...if I get a CD for $500 i could secure a 12month loan borrowing that same amount..not $2000.....can you explain further please?

And don't mess with First Premier! Yeah. great advice...i saw their ads for 300 credit line and you pay like 250 in fees......i'm too stubborn to do that even if my credit sucks forever! I do have a installment tradeline i established 6 months ago...I got a BMW but I am paying 24% interest.....its the only way i could get a car...my plan was to refinance after one year.....and advice there? CREDIT UNIONS! ok. I found some credit unions I can join in my area by opening a savings with as low as a $5 deposit.....how will this help me? http://creditboards.com/forums/index.php?s...=339985&hl= If you are ever in Ky I owe u a fifth of Bourbon!!! Your suggestion to go to a credit union was the best advise I could have gotten!!!! Here are the details.... Divorced about 5 years ago....home foreclosed...stop paying crdit cards.......basically went in hiding last 5 years until 6 months ago finally got a car financed at 24% (hadnt applied for anything for 4.5 years knowing my credit must suck) So I started looking into rebuilding hoping to get out from under my 24% loan after one year....this was about 45 days ago My scores were 557, 523, 581 FICO I have disputed some derogs and had some success (never sent letters....did all online or phone).....my scores go up to 591,556,613 (fico) JUST 2 weeks ago (now eligible for FHA home mortgage) knowing from reading here on CB that now I must focus on adding positive trade lines to keep my scores moving North I shifted focus on trying to get some revolving credit.....I got turned down for Macys, Kays, Target, Juniper,Hoooters,BOA.......so now I'm discouraged..... Earlier this week you suggested I go to a credit union.... Yesterday I did just that.....I deposit $100 to open a savings account and gain membership (only needed $5) I gave the loan officer a copy of my credit report and asked her to review and tell me if based on these scores she thought she could refinace my car at a better rate.....she advised she could finance at 9% provided those scores were accurate....i granted her permission to pull my credit and she approved me on the spot......I then asked her abt credit cards....thinking i wld have to get a secured card.....she gave me a visa app that took abt 3 mins....punched a few keys and said ok...i got you approved...what would you like your credit limit to be? I almost fell out of the chair....I muttered I dont know....what do you think......she said "I will start you out at 5".........she then said lets see how that works for ya, we normally go up to 4 times your monthly gross salary (meaning that I could have gotten 17K credit line)_.........I'm still in shock......remember...just days before i WAS turned down for a $200 target card..................WOW!!!!!! I hope others read this and take the advise that I did........go to your credit union.....screw the banks!!!!! :clapping: WOW!!!!! Congrats. No need for a big thanks, but I will take you up on that Bourbon offer. I almost moved to Kentucky, between Morehead and Lexington. I know the state well. That was a savvy move to take your credit report in ahead of time for a review, and then let them pull. Good thinking. Stick around and share good advice with others, that's the best thanks you can give! Once again congratulations!!!!!!!!!!!!!!! I live in Lexington now........travel through Morehead every other weekend (or more) on my way to Ashland to get my kids. Where were you planning to ove Mt Sterling? Seriously if you are ever this way get a hold of me...I got some Makers Mark for ya! Yeah...I wasnt gonna let anyone else pull my credit with out reviewing first...inqs are my biggest enemy now..... The name of the credit union is Members Heritage Federal Credit Union.......

If you are ever in Ky I owe u a fifth of Bourbon!!! Your suggestion to go to a credit union was the best advise I could have gotten!!!! Here are the details.... Divorced about 5 years ago....home foreclosed...stop paying crdit cards.......basically went in hiding last 5 years until 6 months ago finally got a car financed at 24% (hadnt applied for anything for 4.5 years knowing my credit must suck) So I started looking into rebuilding hoping to get out from under my 24% loan after one year....this was about 45 days ago My scores were 557, 523, 581 FICO I have disputed some derogs and had some success (never sent letters....did all online or phone).....my scores go up to 591,556,613 (fico) JUST 2 weeks ago (now eligible for FHA home mortgage) knowing from reading here on CB that now I must focus on adding positive trade lines to keep my scores moving North I shifted focus on trying to get some revolving credit.....I got turned down for Macys, Kays, Target, Juniper,Hoooters,BOA.......so now I'm discouraged..... Earlier this week you suggested I go to a credit union.... Yesterday I did just that.....I deposit $100 to open a savings account and gain membership (only needed $5) I gave the loan officer a copy of my credit report and asked her to review and tell me if based on these scores she thought she could refinace my car at a better rate.....she advised she could finance at 9% provided those scores were accurate....i granted her permission to pull my credit and she approved me on the spot......I then asked her abt credit cards....thinking i wld have to get a secured card.....she gave me a visa app that took abt 3 mins....punched a few keys and said ok...i got you approved...what would you like your credit limit to be? I almost fell out of the chair....I muttered I dont know....what do you think......she said "I will start you out at 5".........she then said lets see how that works for ya, we normally go up to 4 times your monthly gross salary (meaning that I could have gotten 17K credit line)_.........I'm still in shock......remember...just days before i WAS turned down for a $200 target card..................WOW!!!!!! I hope others read this and take the advise that I did........go to your credit union.....screw the banks!!!!!

And don't mess with First Premier! Yeah. great advice...i saw their ads for 300 credit line and you pay like 250 in fees......i'm too stubborn to do that even if my credit sucks forever! I do have a installment tradeline i established 6 months ago...I got a BMW but I am paying 24% interest.....its the only way i could get a car...my plan was to refinance after one year.....and advice there? CREDIT UNIONS! ok. I found some credit unions I can join in my area by opening a savings with as low as a $5 deposit.....how will this help me? http://creditboards.com/forums/index.php?s...=339985&hl= If you are ever in Ky I owe u a fifth of Bourbon!!! Your suggestion to go to a credit union was the best advise I could have gotten!!!! Here are the details.... Divorced about 5 years ago....home foreclosed...stop paying crdit cards.......basically went in hiding last 5 years until 6 months ago finally got a car financed at 24% (hadnt applied for anything for 4.5 years knowing my credit must suck) So I started looking into rebuilding hoping to get out from under my 24% loan after one year....this was about 45 days ago My scores were 557, 523, 581 FICO I have disputed some derogs and had some success (never sent letters....did all online or phone).....my scores go up to 591,556,613 (fico) JUST 2 weeks ago (now eligible for FHA home mortgage) knowing from reading here on CB that now I must focus on adding positive trade lines to keep my scores moving North I shifted focus on trying to get some revolving credit.....I got turned down for Macys, Kays, Target, Juniper,Hoooters,BOA.......so now I'm discouraged..... Earlier this week you suggested I go to a credit union.... Yesterday I did just that.....I deposit $100 to open a savings account and gain membership (only needed $5) I gave the loan officer a copy of my credit report and asked her to review and tell me if based on these scores she thought she could refinace my car at a better rate.....she advised she could finance at 9% provided those scores were accurate....i granted her permission to pull my credit and she approved me on the spot......I then asked her abt credit cards....thinking i wld have to get a secured card.....she gave me a visa app that took abt 3 mins....punched a few keys and said ok...i got you approved...what would you like your credit limit to be? I almost fell out of the chair....I muttered I dont know....what do you think......she said "I will start you out at 5".........she then said lets see how that works for ya, we normally go up to 4 times your monthly gross salary (meaning that I could have gotten 17K credit line)_.........I'm still in shock......remember...just days before i WAS turned down for a $200 target card..................WOW!!!!!! I hope others read this and take the advise that I did........go to your credit union.....screw the banks!!!!!

No. I just received the rejection letters Thursday. Does that ever work? On what premise should I ask? I dont even want a credit card...my sole reason is tom build credit......it really seems like a scam to me! like the CRA's are owned by the CC companies! People have had success with target. Reconsideration? Look at these short threads: http://creditboards.com/forums/index.php?showtopic=255157 http://creditboards.com/forums/index.php?showtopic=245787 It was worth a try....I called target and she wouldnt even look me up....kept interrupting...I told her that I got denied for inqs but tried to explain that mose were from shopping around for a mortgage....she just said yeah the reason we deny for inqs is because that generally means your are applying for credit....i was like no duh....thats why i am calling you....trying to get credit....she just said to try again in a month...

Better be careful here on this one. CA's in Ky like to say CC are written contracts which carry a 15 yr "sentence", er, (SOL). Just beware when you start applying, they "seem" to find out and come knocking on the door wanting old debts paid. Pay attention here and follow advice on getting credit and repairing... Thanks for the heads up.....I guess they could try and say they are written conttracts but what will the judge say?

I use Credit Check Total....I have went from 31 to 7 in the past 10 days....anyone else having this result with CCT?

And don't mess with First Premier! Yeah. great advice...i saw their ads for 300 credit line and you pay like 250 in fees......i'm too stubborn to do that even if my credit sucks forever! I do have a installment tradeline i established 6 months ago...I got a BMW but I am paying 24% interest.....its the only way i could get a car...my plan was to refinance after one year.....and advice there? CREDIT UNIONS! ok. I found some credit unions I can join in my area by opening a savings with as low as a $5 deposit.....how will this help me?

And don't mess with First Premier! Yeah. great advice...i saw their ads for 300 credit line and you pay like 250 in fees......i'm too stubborn to do that even if my credit sucks forever! I do have a installment tradeline i established 6 months ago...I got a BMW but I am paying 24% interest.....its the only way i could get a car...my plan was to refinance after one year.....and advice there?

BOA does report to all three CRAs. They may not report as Bank of America (or some spelling variation), but instead as FIA CSNA (their credit card issuing subsidiary). If you have a daily credit monitoring subscription service or if you manually pull reports from the big three CRAs, you'll see your tradeline being reported there. --- As painful as it is to have to pay a fee for them to issue credit against your own money, it's a small price you have to pay. I don't recall the exact reasons why, but another CB member once cited a full range why banks may opt to charge fees and even denied issuing secured credit as well. It has mostly to do with administrative and legal reasons. If you intend to pay in full and you actually do so by the time each statement cuts, then yes, you need not worry about the purchase APR or default APR. However, remember that Cash Advances and Balance Transfers are not subject to ANY grace period, if you do those (and it's strongly recommended that you don't do it with your secured card!) Thanks for the reply. So from what you know BOA is the best deal? Any cons to them over another secured card you might know about? Do they report as "secured" or does that even matter?

No. I just received the rejection letters Thursday. Does that ever work? On what premise should I ask? I dont even want a credit card...my sole reason is tom build credit......it really seems like a scam to me! like the CRA's are owned by the CC companies!

Because a lot of people, myself included, were able to build up some credit with some Inquiry sensitive places by getting rid of some Inqs. At this point I'd rather not have them all back but even if I do get them all most will be about a year old anyway. For me also, only 3 paces do ARs monthly on TU and of the 3 the only one I care about is SFB. Fair enough. It would seem to me that TU answer would be to "stop the bleeding" first...in other words, instead of making their first effort to put Inqs back on...they should stop the ability to bump all together....I know they havent done this..I am very new to this and have been pulling my reports 5 times a day from credit check total before i even knew waht bumpage was (i would just pull throughout the day to see if anything might have changed due to my disputes). I had 23 inqs on TU and didnt see bumpage until about 4 or 5 days ago.....I have 9 inqs now. Makes me wonder what they are up to.....surely they would want to stop bumpage before they start adding inqs back.....otherwise this will be great job security for whomever is re-adding!!!

Those dont really work....All the ones I was declined on led me to believe I could be approved.

I find it so puzzzling that so many people comment that they dont care if TU puts their inquiries back on. Why did they spend so much time trying to get inquires bumped off if they really didnt care?

Can some of you please tell me what card is best to get to start rebuilding credit score? I have not had a credit card in about 5 years...I have two Cap1 cards charged off that had a credit line of $600 each that now are charged off ...after fees and interest the balances are about $2500 each. They havent been paid on in over 4 years and I live in KY where the SOL I think is 5 years. My FICOs are (these came from my mortgage broker so could be enhanced) EX-613, Eq-591, TU-556 (funny thing is that my TU report looks better on paper). For those of you that would like to compare my FIKOs to FAKOs my FAKO's are EX-595, Eq-565, TU-565. (FAKOs source: Credit Check Total) Back to my question.....I am pretty certain I need to go with a secured card. because I applied for Macy's, Kay's, Target and Hooters and got turned down due to "too many inquries" and "no current revolving accounts." I actually just started seeing bumpage on TU and have gone from 23 inqs to 9 just in the last few days. I have 16 and 7 inqs with EX/Eq. I have been leaning towards the BOA secured Visa I think it only has a $29 fee. Can anyone tell me more about it? Does it have other fees? Do they report to all 3 CRA's? Does it report as a secured line or does this matter? What other cards are out there that I should look into? Are there any other trade lines I might be able to get to help offset my $5000 cc debt? I have considered a merchandise card just to get the $7500 credit limit but am very nervous about them. I tried Crown Jewelers and was approved ...tried to make a purchase over the next four days but the site kept reporting "can not communicate with server" I have read about their security issues...I even called them and tried to place order over phone...it was a nightmare....I wouldnt suggest them to anyone. I know..I'm rambling so I'll stop typing and hope some of you can share some insight. Thanks