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Trying to get up to speed


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First of all, thank you to the CB community for all of the info you guys provide; more than most financial advisors could dream of offering.

 

I've been researching crediting building for a few months now - I've just turned 20 and opened my first account with Cap 1 8 months ago.

 

After 6mo they gave me a CLI (it's their somewhat secured card - started as 40$ for 200$ cl) to 500$ and I apped Amex for the BCE and was approved for 2k, not knowing any better and not wanting to tie up my Amex CL, I apped two cards for an electronics purchase. I ended up with a CITI bestbuy 24 mo 0% card with 1000$ CL and an Amazon Synch for $150!

 

When I apped Amex my fico was 678-675-670 and would have hopefully gone up given my new CL - but Amex hasn't reported yet and my CITI reported 2/17 at 80% util, pushing my overall to 56%, bombing my scores to 630-640.

 

Now that I've done some in depth reading on here, I know that I want to app Chase Freedom, but I'm assuming I'll get denied at 640. I've opened an Alliant secured installment loan for 500$ and will pay down to 88 per the trick guides I have found, as soon as I hear from the LO on approval.

 

I've opened an account at NFCU and hope to app them in the summer after using them as a savings/back up debit acc for a few months, assuming I get the chase approval. No late payments, collections etc. 3 hard pulls on all accs, 5 apps.

 

Questions:

 

Will my scores return to 670+ range after my CL increases by 2k, which would put my util at 27% due to CITI financing. (PIF other cards)

Why did SYNCH approve me for $150, should I close the account or leave it and LUV?

 

Good chance for Chase Freedom approval once Amex & Alliant start reporting?

 

Thanks!

 

 

 

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Don't think Chase approve you with a very short AAOA. You will probably have to let your existing accounts age a bit.... I would do the Amex 3x CLI at the 6 month period to increase your total available Credit and get your utilization under 10%. Then after a year app for Chase.

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Thanks Joe, That's definitely a consideration, given my age, I'm curious what other input there may be on that aspect. My AAOA would be aprox. 5 months when I'd apply.

From what I've gathered and been told Chase likes people to have at least a years worth of history under their belts. If you wait say a year and get some CLI on what you have then when you app Chase your more likely to get a larger credit limit.
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Unfortunately I have to app Chase before I app NFCU because of 5/24. Should I app after 1 year mark on cap 1?

Yeah I'd wait. I myself only just hit 6 months with my first card and will be waiting at least another year before apping for anything. When it comes to credit patience is key especially when starting out of rebuilding.
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Unfortunately I have to app Chase before I app NFCU because of 5/24. Should I app after 1 year mark on cap 1?

Sorry, I guess I'm logged in on a different account on my phone.

 

Any feedback on the synch CL being so low when Citi had almost 10x approval?

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Unfortunately I have to app Chase before I app NFCU because of 5/24. Should I app after 1 year mark on cap 1?

Sorry, I guess I'm logged in on a different account on my phone.

 

Any feedback on the synch CL being so low when Citi had almost 10x approval?

Did you do the Navy league thing to join NFCU or did you already meet membership requirements?

 

No idea as to why Citi have you a higher limit compared to synch tbh.

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Unfortunately I have to app Chase before I app NFCU because of 5/24. Should I app after 1 year mark on cap 1?

Sorry, I guess I'm logged in on a different account on my phone.

 

Any feedback on the synch CL being so low when Citi had almost 10x approval?

Did you do the Navy league thing to join NFCU or did you already meet membership requirements?

 

No idea as to why Citi have you a higher limit compared to synch tbh.

 

Immediate family was Army Retired. They were apped on the same day and pulled TU and EX. I initially apped Amazon as I do a lot of business with them and wanted the 5% rewards, when I was approved for 150, I apped best buy as 150 was about 700 less than I needed. Had I known, I would have waited for Amex to post to CRAs at 2k before apping. Oh the things you learn. Wondering if the 2k posting would get them to give me a CLI. Sucks to have a card with 150 CL, less than my secured card started at.

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