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KayveBear's Running Credit Thread


kayvebear
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The last post in this topic was posted 2155 days ago. 

 

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Thanks for the feedback. Makes perfect sense now. These two accounts are my first new accounts in over 15 years. When I was younger I completely ruined my credit. So for the longest time, we just did everything in my wife's name. Long story short, about 5 months ago I went to a credit repair company to finally fix my credit (I assumed it was still horrible). To my surprise, everything had fallen off and now I realize that being an authorized user benefited me a little. My scores at the time were between 730 and 755. They told me that they couldn't really do anything for me. So I walked away feeling good. A month or so later I applied for the cap 1 and sapphire. And here we are.

Thanks again. I'll just relax for a bit now. 6 months to a year maybe?

You have seen now that time heals all wounds (well, almost all wounds) and now you are on a path upwards.

 

How old are your wife's accounts? While AU accounts can help a little, as you have seen, if her accounts are old and you were a joint owner, you'd be gold right now. I added my sister-in-law fresh off the boat -- so to speak -- as a joint on two of my very old accounts and AU on three more and now in under three years she's amassed nearly $200k on her own.

 

The way your profile is now, I'd say wait a year even two. Accounts can still be considered new when under 2 years old. You might, though, consider another Chase card as long as you don't have 5 or more cards reporting that are under 24 months old. AmEx might give you a go with a card with a low limit. You can easily build that up later on. Other than that, sit back and enjoy the ride.

 

Oh, it would be a good idea to start a new thread such as "Veggie's Credit Journey" or something like that. Hate to derail KB's thread further.

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  • 1 month later...

Discover gave me a 5k cli today on the luv button. They needed a couple days to review but I just got the email. 36.5k now on discover !

 

Not bad

 

Just realized that this 5k increase from discover gives me over 600k in revolving credit. Broke the 600k threshold

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Discover gave me a 5k cli today on the luv button. They needed a couple days to review but I just got the email. 36.5k now on discover !

Not bad

 

Just realized that this 5k increase from discover gives me over 600k in revolving credit. Broke the 600k threshold

I'm jealous of your $50K grandfathered Walmart. They won't give that limit anymore.

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Discover gave me a 5k cli today on the luv button. They needed a couple days to review but I just got the email. 36.5k now on discover !

Not bad

Just realized that this 5k increase from discover gives me over 600k in revolving credit. Broke the 600k threshold

I'm jealous of your $50K grandfathered Walmart. They won't give that limit anymore.

 

 

Really? Cool! I would have to check this thread, but I am pretty sure that is the first card I ever got to 50k!

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  • 3 weeks later...

 

Discover gave me a 5k cli today on the luv button. They needed a couple days to review but I just got the email. 36.5k now on discover !

 

Not bad

 

Just realized that this 5k increase from discover gives me over 600k in revolving credit. Broke the 600k threshold

 

 

 

Do you ever get denied based on "over-extended" or some other reason that indicates you have more credit available than you need?

 

My wife recently got that and she is at a fraction of your revolving credit.

Her scores are all 780+ and at 1% utilization and a mostly (2/3) paid off car loan on her file.

They seemed to just deny her based on she already has 8 credit cards and they add up to about $80,000.

 

I would guess that your credit file is likely in the top 1% for available revolving credit for profiles that a credit review department might see on a daily basis.

They are probably somewhat shocked when they add it all up.

I wonder what goes through their minds. Are they sarcastically saying, "yeah, this person clearly needs another $5,000 in available credit." :swoon:

Edited by RocketGoBoom
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Discover gave me a 5k cli today on the luv button. They needed a couple days to review but I just got the email. 36.5k now on discover !

 

Not bad

 

Just realized that this 5k increase from discover gives me over 600k in revolving credit. Broke the 600k threshold

 

 

 

Do you ever get denied based on "over-extended" or some other reason that indicates you have more credit available than you need?

 

My wife recently got that and she is at a fraction of your revolving credit.

Her scores are all 780+ and at 1% utilization and a mostly (2/3) paid off car loan on her file.

They seemed to just deny her based on she already has 8 credit cards and they add up to about $80,000.

 

I would guess that your credit file is likely in the top 1% for available revolving credit for profiles that a credit review department might see on a daily basis.

They are probably somewhat shocked when they add it all up.

I wonder what goes through their minds. Are they sarcastically saying, "yeah, this person clearly needs another $5,000 in available credit." :swoon:

 

 

 

I remember once getting denied for too much credit but I can't remember with which lender. Maybe Citi? I think it was just how they operated. It never became a pattern that is for sure. I think that is very much a YMMV sort of thing.

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I remember once getting denied for too much credit but I can't remember with which lender. Maybe Citi? I think it was just how they operated. It never became a pattern that is for sure. I think that is very much a YMMV sort of thing.

 

 

 

I am wondering if it has anything to do with income.

 

My wife is at $40,000 but only works 2 days per week. She makes about $47 per hour (dental hygienist).

She works only 2 days per week to spend more time with the toddler.

 

My income is $130,000 so we are at a combined $170,000.

 

When we did income verification with PenFed for my wife on her credit app, they only considered her $40,000 despite our explaining the entire situation and proving it.

She can increase her income to $80,000 at will if she tells her office to schedule her for 4 days per week instead of 2 days.

She simply chooses not to do that right now.

 

PenFed gave her a $5,000 credit card, but denied her for the PLOC saying, "over extended".

780+ scores and 1% utilization.

 

Maybe it is just PenFed. But I have seen plenty of people here comment that they can achieve total available credit many multiples above their income.

Edited by RocketGoBoom
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I remember once getting denied for too much credit but I can't remember with which lender. Maybe Citi? I think it was just how they operated. It never became a pattern that is for sure. I think that is very much a YMMV sort of thing.

 

 

 

I am wondering if it has anything to do with income.

 

My wife is at $40,000 but only works 2 days per week. She makes about $47 per hour (dental hygienist).

She works only 2 days per week to spend more time with the toddler.

 

My income is $130,000 so we are at a combined $170,000.

 

When we did income verification with PenFed for my wife on her credit app, they only considered her $40,000 despite our explaining the entire situation and proving it.

She can increase her income to $80,000 at will if she tells her office to schedule her for 4 days per week instead of 2 days.

She simply chooses not to do that right now.

 

PenFed gave her a $5,000 credit card, but denied her for the PLOC saying, "over extended".

780+ scores and 1% utilization.

 

Maybe it is just PenFed. But I have seen plenty of people here comment that they can achieve total available credit many multiples above their income.

 

 

I would imagine you hit the nail on the head. If you guys file a joint tax return she could always put 170k and play dumb.

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  • 1 month later...
  • 4 weeks later...
  • 2 weeks later...

My Experian FICO just broke 800 for the first time and went from 786 to 805.

 

All my student loans were paid in full this month so this must be why. I didn't know whether to expect a FICO increase or decrease from the loan completions. They had high balances and went to $0 though so I guess we have our answer.

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Forgot to mention... i leased a new 2017 Subaru Outback this week :) When the salesman walked away to pull my credit i almost had a moment of nervousness (like a memory from the past) ... and then I laughed and pulled out my iphone and rejoiced in the fact that I have good credit now (thanks to CB).

 

I only had one question for the salesman: Did I get your absolute best rate... or did I get your absolute best rate?

 

 

IMG_4819.jpg

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