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Cappy's Road To 760+ (Feedback Welcome)


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I started off my Credit Journey 10 years ago when I got my first Credit Card. (Cap 1 $300 limit)

 

I never realized until years later that the money I have on credit is "SIMPLY NOT MINE"

 

I figured I had $300 extra to spend whenever I want and wherever I want...

 

I used the card for everything and made my minimum payments for the few dollars and just accrued interest. I also missed some payments figuring I would call up and complain and get some fees waived. ( racking up some 30 day LP's in the process)

 

I had no idea even what a late payment was at that point, nor did I even know what a credit report was.

 

I tried for a CLI numerous times within a few year period and I still remember the message stating : "your type of account is not eligible for a credit limit increase"

 

I was fed up and really wanted a higher limit card. I got a letter in the mail with an offer from Wamu (Washington Mutual) and decided to apply because I thought the offer was an automatic approval. :lol:

 

I was instantly approved for 2K and I was ecstatic. I used the Card in the same way I used the cap 1 card and just charged everything to it thinking it was free money. I eventually made a large payment to the card after it was fully maxed and the next thing I know is that the Credit Limit Decreased to $400

 

In 2010, Wamu was Sold to Chase and it was now a Chase account, so it made it even more special.

 

The $400 limit wasn't really helping me, so I used the card and just completely ignored it for a few months without making any type of payment.

 

I got a call in December 2010 from Chase letting me know that my account was 90 days past due and I've been hit with 3 late payments. I told them I'm willing to pay off the balance if they waive those fees, which they agreed too. A month later I was shut down.

 

March 2011: I decided to apply again for more cards and applied for another capital one card, as well as a BestBuy MasterCard. Was approved for both at a $300 a limit.

 

I knew some of my friends had cards at 5K limits and above and I just couldn't figure out how they had those limits and we were the same age. It just didn't make sense to me.

 

I decided to do some research on credit and got a copy of my report. I was really disturbed from what I saw. I read about how late payments really Hurt you and I realized how I'm just destroying myself. I was irresponsible and I knew change had to come.

 

For over 2 years from 2011 to 2013 I was on a mission. I was going to use my cards and be responsible about it. Credit is a privilege and I will only move farther if I'm responsible about it...

 

Oct 2013: Citi sent me offer in the mail for the Citi Diamond Preferred card and I figured that since I've been working so hard, maybe the time will come that I get a decent limit.

 

I applied and was instantly approved for 1K. I was a bit disappointed at the limit, but I told myself It won't let me get down.

 

November 2013: I received a letter from BOA for a standard card and gave it a shot. Was approved for $3.5K

 

I then realized that all my hard work paid off until now. Happy was an under statement.

 

 

Now that I had some cards I started reading more. I saw Chase had an offer for 50,000 points and that really was exciting. Instantly approved for 5K. ....

 

I'm over 300K in revolving credit today. I racked up a lot of free points/miles on the way and most importantly I changed myself into a responsible person...

 

I still have a 90/60 LP on My closed Chase account with some other 30 day LP from about a year before. I also have 2-30 day LP from cap 1.

 

By November 2017, all my Bureaus will be completely clean. I am still looking for more rewards and hoping to consolidate some of my cards and move over the limits....

 

My goal is to continue working hard and maximizing myself...

 

I will continue to update the thread as things change.

 

Thanks to everyone at CreditBoards who has helped me :good:

 

All feedback is welcome...

 

Below are my current cards and limits

 

 

AMEX PRG: $xx,xxx

BOA Cash Rewards: $25,000

BestBuy MC: $25,000

Walmart MC: $25,000

AMEX SPG: $24,500

Discover IT: $21,000

Chase Sapphire Preferred: $20,000

PayPal Smart Connect: $20,000

Barclays Red Aviator #1: $16,500

Diners Club MC: $15,000

Fuel Rewards MC: $14,000

Barclays Arrival +: $10,000

BOA Travel Rewards: $10,000

Citi Thank You Preferred: $10,000

Barclays Red Aviator #2: $7,500

Capital One Venture: $7,500

Chase British Airways: $7,000

Chase United: $6,900

Capital One Platinum MC: $6,500

Citi AAdvantage: $6,000

Citi Double Cash MC: $6,000

Citi Hilton Gold Reserver: $5,200

Amex Delta: $5,000

Chase Southwest Airlines: $5,000

Citi Thank You Premier: $4,800

 

Total Limits: $303,400

Avg: $12,136

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It makes me feel a little better that you have been at it almost twice as long (repair) and are not dealing with chargeoffs and collections...

 

To what extent, if you are comfortable saying, does your income assist in your credit lines. I notice that you have gotten them way up over the last year.

 

Great job. I agree with Mendie re combining lines to get them all in the $20K+ range...

 

Really fabulous, Mr. C.

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Congrats!!

 

Great story.

 

Cap says, "I never realized until years later that the money I have on credit is "SIMPLY NOT MINE""

 

All Noobies need to remember that line. The money on credit is NEVER ours.

 

If one can remember that line every day, he/she too will prosper in this credit game.

 

The money you have on credit is not yours.

 

 

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Nice job!

 

Got a question. You have cards with annual fees that total over $1,000 as they hit their first one year anniversary. Which ones are staying open, and which ones are being closed?

I have 15 AF cards right now and I know I'm most likely not going to use each one enough to outweigh the AF.

 

I'm planning on consolidating my card and limits, so that is part of the plan.

 

I will call retentions to see what type of offers I can get. I'd preferably like to keep every card open at least 2 years.

 

I plan on closing the Arrival as no offers are available to me right now

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It makes me feel a little better that you have been at it almost twice as long (repair) and are not dealing with chargeoffs and collections...

 

To what extent, if you are comfortable saying, does your income assist in your credit lines. I notice that you have gotten them way up over the last year.

 

Great job. I agree with Mendie re combining lines to get them all in the $20K+ range...

 

Really fabulous, Mr. C.

I've never had a CO or collection, although if my Chase account would've been a CO, it would've been gone in 2 months since I live in NY

Congrats!!

 

Great story.

 

Cap says, "I never realized until years later that the money I have on credit is "SIMPLY NOT MINE""

 

All Noobies need to remember that line. The money on credit is NEVER ours.

 

If one can remember that line every day, he/she too will prosper in this credit game.

 

The money you have on credit is not yours.

 

 

:good:

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Cappy, glad you finally got around to starting a thread you lazy a$$.

 

Nice write up...can't wait to see you hit 800. :wave:

I actually wrote everything with my iPhone 6 Plus.

 

Including all my cards and limits. Did everything in about a half hour.

 

I'm talented like that :D

 

The 800 is going to take at least 2 years to get to.

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Cappy, glad you finally got around to starting a thread you lazy a$$.

 

Nice write up...can't wait to see you hit 800. :wave:

I actually wrote everything with my iPhone 6 Plus.

 

Including all my cards and limits. Did everything in about a half hour.

 

I'm talented like that :D

 

The 800 is going to take at least 2 years to get to.

That's ok, I'll still be here. :wave:
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  • 1 month later...

I did my first ever downgrade tonight.

 

I DG my United Explorer to the No AF United Rewards Card. I left $1,400 on it and moved over $5,500 to the CSP...

 

One AF card out of the way... Still have to figure out what to do next...

 

New Limits:

 

AMEX PRG: $xx,xxx

Chase Sapphire Preferred: $25,500

BOA Cash Rewards: $25,000

BestBuy MC: $25,000

Walmart MC: $25,000

AMEX SPG: $24,500

Discover IT: $21,000

PayPal Smart Connect: $20,000

Barclays Red Aviator #1: $16,500

Diners Club MC: $15,000

Fuel Rewards MC: $14,000

Barclays Arrival +: $10,000

BOA Travel Rewards: $10,000

Citi Thank You Preferred: $10,000

Barclays Red Aviator #2: $7,500

Capital One Venture: $7,500

Chase British Airways: $7,000

Capital One Platinum MC: $6,500

Citi AAdvantage: $6,000

Citi Double Cash MC: $6,000

Citi Hilton Gold Reserve: $5,200

Amex Delta: $5,000

Chase Southwest Airlines: $5,000

Citi Thank You Premier: $4,800

Chase United Mileage Plus Rewards: $1,400

 

Total Limits: $303,400

Avg: $12,136

Edited by Captivated
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