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PunisherSD

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  1. No more store cards. They're just going to stick you at low limits - and for lenders like Target you can't even request a CLI. It's time to tend the garden, request CLI's when possible, and then maybe think about some actual major credit cards in 6 months to 1 year. Walmart is actually decent. GE money will let you request CLI's every 4 months or so - and if you're responsible with the card after a year or so they may offer to convert it to the WalMart Mastercard (Used to be the WalMart Discover). The only cards you need to think about applying for should be major credit cards.
  2. GE Money can do that sometimes. A similar thing happened to me with my Target credit card. When I opened the account about 1 1/2 years ago they gave me a smallish limit of around $800. The next month after I opened the account, they increased the limit to $2,400. Perhaps some underwriter reviews the account, compared it to my other limits, and then raised it. Who knows. Target is a difficult lender to understand.
  3. Yes. The Platinum card is usually limited to around 3k max, and the ability to request CLI's is limited. The quicksilver is a better product so you definitely would be wise to upgrade. Will it guaruntee CLI's from Capone? No, it won't, but you really have nothing to lose. Here's what I did. Back in '08 I applied for and got a Capone Platinum card at around 500 bucks for the limit. 1 year and a half later, they upped the limit to 3k without request. I was unable to increase the limit beyond that until I upgraded to the quicksilver card. After I did that about 4 months ago, I requested a CLI over the phone and they increased it to 4,500.
  4. I wouldn't worry about getting ANOTHER secured card. 10k on an already existing secured card? That's plenty baby! With your scores what they are, I would be reluctant to go for any prime lenders. You might qualify for something from capital one, but I think you're already doing what you need to do: Go after the medical debt on your reports and see if you can dispute it off. Give it a little more time and once your scores increase to the mid 600's start applying for cards with folks with fair credit (Cap one, barclay card mastercard). If anything, you might want to consider switching your entire banking relationship to a credit union or at least another bank. If you're running significant amounts through your business checking account you might qualify, pre approved, for a variety of credit offers from your bank. If there's one thing that can convince a bank to take a chance on you is the fact that you have means to pay your debts. Sure, your scores aren't great but if you're pushing 10 to 20k through your business checking account they're far more likely to take a chance on you. Check out your local options when it comes to credit unions and see what you can get. You might even get them to give you a line of credit from the bank itself - very useful for improving your credit. So, it's time to dump wellsfargo.
  5. No more consumer finance cards. That means store cards, gas cards, jewelry cards, anything that isn't a major credit card. Every Time you get a new "toy" card that's practically useless you're driving down your average age of accounts. In fact, there's no reason to apply for any new cards for the time being. I'd wait another year before more apps - tend the garden. Every 4 billing cycles is a good rule of thumb...so 4 months.
  6. This thread reminded me to hit the love button on Walmart discover card - woo hoo increase from 3k to 5,500!
  7. True the free FICO is nice, but hell, I get that from Barclays and even my Chevron texaco card has free FICO score. I get a free FICO score from like 4 different credit card providers now. Funny enough, no one pulls from Experian. It's always TransUnion or Equifax.
  8. she did get denied at first! and that measly line took 2 recons and a lot of convincing. and that's with spotless history, good AAOA, etc. so I'm still sticking with my theory that they're deathly afraid of new accounts. I have to agree! I've had the limit on a Barclay Visa Financing card reduced in half from 5k to 2,500 60 days after I opened another card and they cited that as the specific reason (New account) I think tho, it depends on the product. For their products for fair/average credit they seem to be a little more forgiving.
  9. It's not a pre-approval. It just means your more likely to be approved. Be wary tho, they may not approve you for the 0% 12 or 18 month initial APR. They may end up countering with 22%APR with no interest free time period. As far as the company is concerned. I agree, they ARE difficult to get CLI's from. I got my Discover more card around 4 years ago and they've only increased my limit ONCE from 3K to a measly 3,600 and my FICO's have stayed around 720 or so. If you have GOOD credit, there are plenty of other card providers that are better for you. If your credit is fair to middlin' I'd say Discover is decent. ALso, some recent information: My partner was approved for a Discover IT card 2 months ago with FICO's around 650 with an initial credit limit of $1,100.
  10. *shrug* Depends on the benefits you get. I personally would never pay that high an annual fee for a card..but different strokes for different folks.
  11. I know for a fact Amex reports AU credit limits on their credit reports. I did this for my partner (added him as an authorized user), and both the Amex Blue and the Gold Rewards charge card appear on his credit report, with the balance and limits. For other credit cards, it depends on the issuer. Whether one particular credit issuer will take the AU trade line into consideration will depend on the issuer. Most likely what will happen is the system will sample the credit limits across all cards (And utilization and credit limits on AU cards IF REPORTED will most likely factor in), and issue a credit limit in line with those limits. Of course, it will also depend on the lender. For example, applying with a subprime lender like capital one will probably net him a lower initial limit than going for a prime lender like Discover. Additionally, if he has limited experience with higher limits some conservative lenders like Discover or Amex will issue him limits closer to 1-2k. AU's have less of a benefit for borrowers based on changes in FICO scoring models as of late. In short, there are a variety of factors that determine the initial credit limit for a particular card which include the type of card, as well as the typical credit limits the borrower already has experience with.
  12. Accounts that are currently under dispute (by a mail or phone or online request) don't count against you. The tag line "Account information disputed by consumer" is a permanent addition to the account, AFTER the dispute has been finalized. If that dispute is finalized and not in favor of the consumer, the narrative line will reflect "Account information disputed by consumer". This is required by the fair credit reporting act. The narrative line information doesn't affect your score.
  13. Most credit unions do a hard pull when you attempt to open any sort of new account. When I got my checking acct at my local credit union, SDCCU (my credit union) did a hard pull. Whether you complete the process or not, well, I don't think that's going to matter much. I'm not sure how wise it would be to dispute the inquiry as that's a good way to get a fraud flag on your credit accounts. I think at this point, unless you have multiple inquiries this year, the effect on your credit is most likely negligible at worst.
  14. American express, Discover, Chase, Citi, and Barclay are all sensitive to any more than 3-4 INQ's in a year time frame.
  15. There's no established pattern to their CLI's other than their own internal underwriting standards. I think it's safe to say that in a years time you should get at least one CLI, but that isn't always the case.

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