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  1. No problems. In fact, your credit score will shoot through the roof when all of your balances are paid down. Just leave a $2 balance on one card to obtain your highest score. You may also get some automatic credit line increases. I did this and my credit went from the high 600's to the low 800's within a few months. I didn't have any lates though so not sure you will get into the 800's right away. As the 30 day lates age, you will see score increases too.
  2. I agree, my cell phone would be ringing before the ink was dry on the signature line. The bank would be asking if I just made a charge for $5,060 at a cafe and I would be like "is this a joke?"
  3. Not to change the subject regarding the credit card, but Assuming the deal goes through in the first half of 2020 as planned, Eldorado is going to do business as Caesars as it has broader name recognition.
  4. I have read that Wells Fargo offers a "no-doc" line of credit based on scores as well as having a business relationship with their bank. Worth looking into. I believe it was either up to $50k or $100k...no doc. Give them a call and ask. I was told the same from Bank of America but they ended up asking for docs. After the fact, my Loan officer said it can vary depending on various factors and he only saw one account get approved with no docs.
  5. Applied for a US Bank Business credit card. Denied. Reason: Applicant address outside of market area. Um, hello? US Bank>>>I live in the US! Maybe a name change should be considered.
  6. I am reading conflicting information on line regarding applying for 2 Chase business cards the same day or within the same week. Some articles say Chase limits approvals to 1 business app within 30 days and other articles say people have been approved for 2 cards when applying the same day as long as the first app is approved and does not require further review. A third article suggests waiting at least 6 months to establish a payment history on the first card which makes the most sense to me. What has been your experience?
  7. In a nutshell, I would suggest a co-applicant if you have someone that is willing to do it. The loan / lease will report to both of your credit reports and the lender will be more likely to do a 2nd loan / lease under your name exclusively once the 1st loan / lease is paid successfully. I did this with a friend who had a 495 credit score. I have her give me the monthly payment so I know it's getting paid on time. Her score is now in the mid 700's after a few negatives are now off her report so she is now ready once this first lease is completed. I'm sure the experts will chime in to never be the "co-applicant" as you can get stuck with the loan/lease and you may not be able to get the car back easily so with that said, if you have someone with good credit willing to do it for you, make sure you don't ruin that relationship and make the payments on time.
  8. lol, I was the Unicorn that asked Barclays to reopen my account and it was done but Macy's was no luck. I emailed their company a letter along with Citi to the effect that in a time when retailers are closing their brick and mortar locations, to close a long standing account with no warning was bad business. They emailed back thanking me for my comment, blah, blah, blah standard corporate mumbo jumbo but no dice when it came to reopening.
  9. Adding a card with a high limit and low to no balance is great idea. Adding a card with a Low limit that gets maxed out every so often is a bad idea. When adding an authorized user...keeping the authorized user's card so the authorized user doesn't have access to it and the account is only used for reporting purposes is an even better idea if the limit is high and the utilization is low.
  10. They wouldn’t do it for me and I caught it in less than 30 days. It was my oldest reporting trade line at 31 years and I was not happy and let them know about it.
  11. I received an alert from Equifax this morning that one of my Barclays Visa cards was closed due to inactivity. I immediately sent this email to Barclays: I just received an email alert from Equifax that my Priceline rewards Visa card was closed. I did not receive any notification from Barclays indicating this account would be closed for inactivity. Please reopen as this closure could be detrimental to my credit score as it affects my available credit and average age of accounts. I will be happy to use the card.Thank you. Received a message back that they reopened the account and the card will be available for use within 24 hours. Unlike the issuer of my Macy's card that closed my oldest reporting trade-in...I am very pleased at Barclays decision and quick action.
  12. About 3.5 years ago, I had one car loan reporting that was paid and two others that were paid years before and my score dropped 18 points after the last payment was reported. At that point, I had no active car loans or leases reporting. It took about 6 months to regain those 18 points. Interestingly enough...A few years later I had 2 active car leases and cosigned for a friend on their auto lease. When the 3rd car reported, there was no drop in score even though a new inquiry reported and the 3rd lease reported. When one of my 2 car leases was reported paid, there was also no drop in score. I replaced that lease this month with a new car lease and again, no drop in score even with an inquiry and the new lease reporting. I think the fact that having at least one active car loan or lease going at any one time will keep your score intact but having no loan or lease reporting will drop your score temporarily. I'm sure the fact that my revolving credit card balances were less than 1% of my available credit also helped. I also believe If you have very few revolving accounts or low credit lines on those revolving accounts, the installment loans will have a bigger impact on your score than if you have many revolving accounts with larger credit lines.
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    GM Financial

    Vineland

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