Stuck along the route 850!! Where do I go from here?

[Longilaala]

Think I have hit a dead end as to what I can get from reading. Have gotten some amazing advice and info from this forum and have improved my score/credit situation a lot from the info on this forum. A MILLION THANKS!! I have been able to improve my score almost 100 points over the last 8 months. Some SOL and some might still be there if not for you guys. Some I will put in another thread for help handling!!

 

Current situation:

Scores:

 

TU--696----5 pulls

EX--655----3 pulls

EQ--657----3 pulls

 

Question #1: What is the best way to monitor? Don't want to continue to pay for all three monitoring and Credit Karma seems to be only useful for monitoring if something has been added or dropped. Scores are useless.

Hey! How do I get my scores to show up at the bottom of my posts?

 

Open TLs:

CAP one: CL: 3500--Bal: 173---opened Aug 14--one increase 2 months ago from 500 to 3500

Quick Silver: CL: 1500--Bal: 0-----Opened Oct 14-- just increased from 1,000 to 1500

Credit One: CL: 600--Bal: 172---Opened Nov 14---1 increase from 400 to 600

Barclay Rewards: CL: 1300--Balance 0---Opened March 15

Merrick Bank CL: 700---Balance 0---Opened Dec 14 Should be going up to at least 1400 soon.

Overall have been trying to keep the util between 1% and 5%----Have been running all my household bills through the cards and trying to pay in full before the statement

 

Question #2+: What now?? How long to wait to apply for CLI? What is the best place to be in terms of how much goes thru the cards each month.

Should I be applying for additional TLs? Is there a sweet spot where you stop? How many inquiries are too many? How many accounts too many?

:

Question #3+: Going to need some bodywork/paint job for my car estimated at appx 1200.00 (not insurance related). Will need about 3-4 months to pay that off. Should I use the Cap One and leave the balance there or apply for another TL to offset the increased utilization? If so, what to you suggest?

 

Will make another thread for help fixing a few things.

 

 

THANKS FOR YOUR HELP. MUCH APPRECIATED!

 

 

[Sidewinder]

For Question #2: First thing you should do is pay off & close Credsh|t One. Get their slimy hands off of you.

 

For Q3, I'd advise against opening another TL IF you've got a big app (car, mortgage) coming up. If your sole concern is getting your score up, try adding more tradelines but with your existing inqs and mediocre scores, I can't see approvals for more than the $3,500 you're getting from Cap1.

 

I think the best thing for your scores now would be to pay off the $173 on the $3,500 Cap1, then put 2/3 of the auto work on that card and the other third on the Barclays card. Yes it's going to put you over 10% utilization for a little while, but I think it's where you are now.

[Longilaala]

For Question #2: First thing you should do is pay off & close Credsh|t One. Get their slimy hands off of you.

 

For Q3, I'd advise against opening another TL IF you've got a big app (car, mortgage) coming up. If your sole concern is getting your score up, try adding more tradelines but with your existing inqs and mediocre scores, I can't see approvals for more than the $3,500 you're getting from Cap1.

 

I think the best thing for your scores now would be to pay off the $173 on the $3,500 Cap1, then put 2/3 of the auto work on that card and the other third on the Barclays card. Yes it's going to put you over 10% utilization for a little while, but I think it's where you are now.

Thank you.

[RichDash]

You could always go for a sync line like Walmart, lowes etc.... I would think you could get Walmart. Use it once or twice with the toy limit they give you and Call Sr UW for CLI... They are pretty kind in that area after a month or two... That would help util... Or maybe Cart trick overstock and call for CLI request right away... That might help util without a HP...

 

I would by all means take that $172 and transfer it over to a different card right away. then SD that credit one account...Credit One is compound from the day of purchase I believe! Maybe not kill it since its one of the older ones. I still have my credit one and will probably keep it a few years... I consider it the price I pay for good credit...

[Longilaala]

For Question #2: First thing you should do is pay off & close Credsh|t One. Get their slimy hands off of you.

 

For Q3, I'd advise against opening another TL IF you've got a big app (car, mortgage) coming up. If your sole concern is getting your score up, try adding more tradelines but with your existing inqs and mediocre scores, I can't see approvals for more than the $3,500 you're getting from Cap1.

 

I think the best thing for your scores now would be to pay off the $173 on the $3,500 Cap1, then put 2/3 of the auto work on that card and the other third on the Barclays card. Yes it's going to put you over 10% utilization for a little while, but I think it's where you are now.

Definitely agree regarding Credit One. Not going to pay them again another surprise annual fee.

[Longilaala]

You could always go for a sync line like Walmart, lowes etc.... I would think you could get Walmart. Use it once or twice with the toy limit they give you and Call Sr UW for CLI... They are pretty kind in that area after a month or two... That would help util... Or maybe Cart trick overstock and call for CLI request right away... That might help util without a HP...

 

I would by all means take that $172 and transfer it over to a different card right away. then SD that credit one account...Credit One is compound from the day of purchase I believe! Maybe not kill it since its one of the older ones. I still have my credit one and will probably keep it a few years... I consider it the price I pay for good credit...

Will definitely be paying off the Credit One. debating between paying the annual fee and keeping it open. Yes their interest is ridiculous.

Thanks for your advice. Sorry, but can you explain further "Cart trick overstock"? I haven't seen that expression before.

[Longilaala]

You could always go for a sync line like Walmart, lowes etc.... I would think you could get Walmart. Use it once or twice with the toy limit they give you and Call Sr UW for CLI... They are pretty kind in that area after a month or two... That would help util... Or maybe Cart trick overstock and call for CLI request right away... That might help util without a HP...

 

I would by all means take that $172 and transfer it over to a different card right away. then SD that credit one account...Credit One is compound from the day of purchase I believe! Maybe not kill it since its one of the older ones. I still have my credit one and will probably keep it a few years... I consider it the price I pay for good credit...

Is it significantly better to have a zero balance vs 1 or 2%?

[RichDash]

Well, the advice most give is to leave $2 reporting on your highest limit card...

If you search cart trick you can find how to do it. Basicly act like your going to purchase something from overstock, enter some info and they will softpull you to pre qualify on a card. They then are known to give decently large credit lines and instant CLI's. No need to finish the transaction after getting approved for the card.... Lots of hate for it around but if lowering utility is what you are after its a zero fee card that will add to open CL...

[Konrad2012]

Don't apply for anything else right now. Don't start doing shopping cart tricks.

 

Personally:

 

1. I would pay off the Credit One and then put it in a drawer. Pull it out every couple of months and buy a bottle of water or a coffee. PIF the same day you make the charge. This will force it to keep reporting. When the AF comes due, cancel that POS. I would ask you why you even got the CreditOne when you already had two Cap One cards but no need to rub salt in the wound.

 

2. If you are wanting to do what's best long term, I would put most of the auto body on the Barclays. What happens to your scores for a couple months is meaningless if you have a long term goal so don't worry about the high utilization on one card for the short term. After a couple months when you pay off the Barclays they will probably reward you with a CLI...maybe an auto CLI, or you might have to call for a hard pull CLI. I don't know why you think that Merrick will give you an increase soon, but try to take care of that BEFORE you max out the Barclays.

 

3. Juggle your daily spend amongst your other three cards, and PIF before your statements cut. That way they all still see usage so you can go for more CLI's. As soon as you pay the Barclays off and the $0 balance reports, hit up the Cap One cards for CLI's through the EO just after the 6 month anniversaries from your last CLI's.

 

4. Work on the deragatories from the other thread. Depending on those outcomes, and where you think you are on a mortgage timeline, then you can think about more applications.

[Konrad2012]

Well, the advice most give is to leave $2 reporting on your highest limit card...

 

If you search cart trick you can find how to do it. Basicly act like your going to purchase something from overstock, enter some info and they will softpull you to pre qualify on a card. They then are known to give decently large credit lines and instant CLI's. No need to finish the transaction after getting approved for the card.... Lots of hate for it around but if lowering utility is what you are after its a zero fee card that will add to open CL...

 

With their current profile the $2 trick will do nothing.

 

The last thing they need is shopping cart tricks for new accounts.

[Longilaala]

Don't apply for anything else right now. Don't start doing shopping cart tricks.

 

Personally:

 

1. I would pay off the Credit One and then put it in a drawer. Pull it out every couple of months and buy a bottle of water or a coffee. PIF the same day you make the charge. This will force it to keep reporting. When the AF comes due, cancel that POS. I would ask you why you even got the CreditOne when you already had two Cap One cards but no need to rub salt in the wound.

 

2. If you are wanting to do what's best long term, I would put most of the auto body on the Barclays. What happens to your scores for a couple months is meaningless if you have a long term goal so don't worry about the high utilization on one card for the short term. After a couple months when you pay off the Barclays they will probably reward you with a CLI...maybe an auto CLI, or you might have to call for a hard pull CLI. I don't know why you think that Merrick will give you an increase soon, but try to take care of that BEFORE you max out the Barclays.

 

3. Juggle your daily spend amongst your other three cards, and PIF before your statements cut. That way they all still see usage so you can go for more CLI's. As soon as you pay the Barclays off and the $0 balance reports, hit up the Cap One cards for CLI's through the EO just after the 6 month anniversaries from your last CLI's.

 

4. Work on the deragatories from the other thread. Depending on those outcomes, and where you think you are on a mortgage timeline, then you can think about more applications.

Thanks for your advice. Just paid the Credit One. Zero balance now. Think I will leave it open for now until just before I will have another AF. The Merrick, according to their pre-approved offer is supposed to increase to 1400 after 5 months. Not sure if they will keep their word. Have always PIF before statement so far. Long term is definitely what I am working for. Want to surpass where I was prior to 2008. Only wiser this time around. Great advice regarding juggling the spend. Think I will utilitze the Barclays mostly for the auto spend and try to pay it off in 2 months rather than 4. Thanks again for your help.

[Sidewinder]

Throughout my rebuilding, Merrick was VERY good to me. Re: CLI's and everything else.

 

Doesn't Credsh|tOne bill the annual fee monthly?

[Konrad2012]

 

Thanks for your advice. Just paid the Credit One. Zero balance now. Think I will leave it open for now until just before I will have another AF. The Merrick, according to their pre-approved offer is supposed to increase to 1400 after 5 months. Not sure if they will keep their word. Have always PIF before statement so far. Long term is definitely what I am working for. Want to surpass where I was prior to 2008. Only wiser this time around. Great advice regarding juggling the spend. Think I will utilitze the Barclays mostly for the auto spend and try to pay it off in 2 months rather than 4. Thanks again for your help.

.

 

 

If Merrick said they would give you an increase at 5 months, try to hold off on the auto body spending until then if possible. That way your reports look as nice as possible to them.

 

Barclays likes to be used, they like you to carry a balance. They are known to literally give you CLI's based upon the highest amount of their credit limit you have used. Someone on here once got a CLI for $1760 and it precisely matched their highest reported balance. That is why I suggest nearly maxing that card out and then pay it off over a couple months.

 

In September all of your accounts will be a minimum of 6 months old. Your Barclays will be paid off. Hopefully you'll have cleaned up your reports some. That would be a good time to hit up anyone for CLI's that you haven't in a while. Then re-evaluate your mortgage. If it looks like it isn't happening soon, consider some other applications. If it is coming soon, then just keep working on the negatives and CLI's in the meantime.

 

Adding more trade lines is going to do nothing for your score if you aren't carrying balances. You already have 5 revolvers. 3 is all you really need until you have clean reports, then 5+ is beneficial.