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Plan to Upgrade Credit Card Quality to Premier Cards

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ok.... so discover is paid in full
 
nfcu is paid.....has a 2 dollar balance on it....
bill was due today, and cycle is on the 27th...reports to CRAs on the 30th
 
still have to cancel credit one at 900 avail and open sky at 200 avail...cancel the toy junk bottom feeder cards
 
so right now I have my revolving credit card TLs available credit over 10k.    
 
my biggest card, nfcu at 6k avail...has 2 dollars on it.
 
lets see what happens with Sept Ficos!   july was 635 and august was 655
 
now, the wait and check the first week of september 
Why are your scores so low? Do you have collections or are you lacking an installment account?

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On 8/27/2018 at 6:37 AM, nyquil556 said:

Why are your scores so low? Do you have collections or are you lacking an installment account?

Sent from my SM-N950U using Tapatalk
 

hi nyquil....thanks for ur interest ...

 

i have a BK from march 2016

 

i have 5 or 6 lates on two car loans from 2014 and 2013

 

and... I have to look again to see what accounts are listed on my reports, but most were IIB, except for my new credit lines

 

I have to work on getting those TLs off my report...the ones that were IIB.   and the 2 car loans I have late payments on with Wells Fargo Dealer Services. 

 

Any links or guidance would be helpful.    And I will keep reading the forums.  

 

    those are the only things Im thinking that might be pulling my FICO down.

 

I am glad my current TL are above 10k, and my 3 installments accounts total almost 40k.   2 car loans and a personal loan.

 

Here is something crazy!   on my discover which is totally paid...the put $7.70 interest on the account the last day before the billing cycle, so I couldnt pay that, and the same with NFCU...they put $1.18 on at the last minute.     And...I had a credit of $17.72 on my TD bank card.   got gass last night...and....pumped $17.73!!!!   missed it by a penny!   gahhhhhhh!

 

so my closing revolving  balances should be as follows

 

nfcu.  $3.18 -----  highest Trade Line Avail $6k

TD bank.    $ .01

Discover.  $7.70 

 

all other 5 credit cards are paid to zero.  

 

was trying to hit the ...(all paid to zero, highest TLA with $2 balance) Fico trick 

 

 

Oh!  btw, discover 8.22.2018 fico dropped 5 point to 660 , maybe due to my app for the NFCU increase.

 

will report in with my other  Sept FICOs

 

 

so, that is my current situation.   any advice would be great!

 

thanks!    

 

 

credit 2x aka credit-credit

 

 

 

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ok...so just paid $7.70 on discover and $.01on the TD bank...the other day I paid the NFCU over $2 excess of $1.18...but dint make the statement closing.   trying to get the hang of...closing date, statement date, due date, and reporting to the CRAs date.   

 

hopefully I have everything lined up for zero balances and $2 reporting on highest revolving TL.   if I missed it this month, will strive for it to happen next month!

 

 

thank you!

 

CR 2x aka credit-credit

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On 8/27/2018 at 3:37 AM, nyquil556 said:

Why are your scores so low? Do you have collections or are you lacking an installment account?

Sent from my SM-N950U using Tapatalk
 

The lack of an installment account is actually most pronounced on prime credit files, and even then only for 20-30 points if optimized perfectly. 

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Don't let Discover be the card that reports $2.  I believe they will credit your acct and report $0.  Needs to be $3 for them.

 

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This is so interesting. I am new here. How do I stay in the loop with this thread so I can see what happens next. I’m learning so much and have so many questions of my own not even sure where to start. 

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19 hours ago, Konrad2012 said:

The lack of an installment account is actually most pronounced on prime credit files, and even then only for 20-30 points if optimized perfectly. 

isnt a car loan...i have a used car loan and a refinanced car loan...and a secured personal loan ...arent those installment loans?    (I dont have a mortgage, I rent )

 

also...the discover is only $1450 avail limit. (what is the abreviation for this..haha. CLA..credit limit available?)

and my limit on NFCU is $6000.    the 2 dollar fico trick says leave $2 on the BIGGEST credit card trade line...and if that is discover...then it has to be $3.     thats how I interpreted it..maybe Im wrong in that one.  

 

 

anywho....NFCU reported  the ending balance of $3.18.    will try to time the $2 mark next month....its on the statement closing date, and NFCU reports it to the CRAs the next day.

 

 

Cr2X

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11 hours ago, Moneyfan1974 said:

This is so interesting. I am new here. How do I stay in the loop with this thread so I can see what happens next. I’m learning so much and have so many questions of my own not even sure where to start. 

Welcome.

 

Click the "Follow" button and you'll receive notifications when someone makes a new comment in this thread.

 

If you're most interested in utilization optimization, here is a thread that goes into more detail:

 

 

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21 minutes ago, credit-credit said:

isnt a car loan...i have a used car loan and a refinanced car loan...and a secured personal loan ...arent those installment loans?    (I dont have a mortgage, I rent )

 

also...the discover is only $1450 avail limit. (what is the abreviation for this..haha. CLA..credit limit available?)

and my limit on NFCU is $6000.    the 2 dollar fico trick says leave $2 on the BIGGEST credit card trade line...and if that is discover...then it has to be $3.     thats how I interpreted it..maybe Im wrong in that one.  

 

 

anywho....NFCU reported  the ending balance of $3.18.    will try to time the $2 mark next month....its on the statement closing date, and NFCU reports it to the CRAs the next day.

 

 

Cr2X

Everything you typed there is correct. 

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13 hours ago, Konrad2012 said:

Everything you typed there is correct. 

thank you for confirming.

 

I think my next step is to wipe off the baddies for all 3 CRAs

 

I  also want to app spree about 4 to 6 mid to high line cards. on the same day, and see if I can get any cash or travel rewards.

 

ive seen it before, but where is the list of cards that will consider a BK after x amount of years...mine is over 2 but less than 3 yrs. 

 

dont want to waste applying if the credit card wont lend to me if my BK is not 3 yrs or older.

 

along the same lines, some cards wont lend to you if their account was included in IIB 

 

cards that do BK and length of time

 

and

 

card that wont lend to you if IIB

 

hmmmm..mmaybe I will search that in google!

 

 

anywho...thank you everyone for the guidence

 

CR2x

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Hi!

 

So my fico EX is 675

 

App spreed little bit

 

Jet Blue...

Barclays said no...too many cards opened in last 24 months.  (I have 8,  3 are toy cards).  They pulled EX and my fico was 675

 

Amazon signature Visa ...synchony.  Letter coming. ( I had TU on credit freeze..maybe I don't even want that card, hearing horror stories about synchony)

 

Captial one Venture card. (TU was on freeze, they say they also pull or look at Lexus Nexus).  I called app line, told them I unlocked TU, they said had to apply again, and would not give me any info.   

 

###Maybe call the capital one recon hotline?  Anyone got a good number?

 

 

Now for the BIG NEWS!   LOL

 

applied to NFCU for the Visa Signature Rewards.  Top of the line card, 50k points after 3 months 4,000 USD spend.  (That's $500 cash back the 50k points)

 

Got approved for $15,000.  Yes. 

FIFTEEN THOUSAND!

 

So glad, gonna go pick up my card tomorrow from the branch. (they fedes it and rush it for 12 dollars, that they put on the Visa card

 

So now my total revolving credit card  lines are is about 25k on 8 cards ..up from 500 dollars on 2 cards when I started 2/2017

 

I had my balances paid off for end of August, now I have about $1800 dollars on balance, have to find a good balance transfer card.   I'm seraching, but any thoughts?

 

I did IIB bank of America (mbna) and Chase (paid them after they attached my money) and I think American Express was IIB also.....hmmmmmm.  Gonna check the time limits for IIB threads vs BK.

 

I did cancel my toy card open sky, $200, and they are refunding my secured deposit 

 

Have yet to cancel my Credit One...( I know I knowwwwww) and myabe my Capital One.     That one is $500 limit with $50 secured.  They won't transfer it to a real card....you must cancel it. Grrrrr

 

yes it was a good day today!  Had to share 😊

 

CR2x

 

 

 

 

 

 

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8 hours ago, credit-credit said:

applied to NFCU for the Visa Signature Rewards.  Top of the line card, 50k points after 3 months 4,000 USD spend.  (That's $500 cash back the 50k points)

 

Got approved for $15,000.  Yes. 

FIFTEEN THOUSAND!

 

So glad, gonna go pick up my card tomorrow from the branch. (they fedes it and rush it for 12 dollars, that they put on the Visa card

 

So now my total revolving credit card  lines are is about 25k on 8 cards ..up from 500 dollars on 2 cards when I started 2/2017

 

I had my balances paid off for end of August, now I have about $1800 dollars on balance, have to find a good balance transfer card.   I'm seraching, but any thoughts?

Congrats on the approval and the big leap forward!  Make sure you can get enough value out of that NF card to justify the AF after the first year. 

 

How did you end up with an $1,800 balance that you can't PIF?  Only use credit cards for things you were going to buy anyway, with money you already have.  Unexpected expenses are what emergency savings funds are for.

 

Good luck with your next steps!

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Thanks!  Yes feels good to have a large limit and a bigger name card, Visa Signature Series.  

 

The $1800 or so balance....some things maybe I should pay for out of emergency savings.   Will have to re-evaluate that.  

 

And will keep that theory in mind...thank you...(credit card stuff I was gonna buy anyway, emergency savings for unexpected).  Thanks!  Great Advice!

 

Now.....

 

Since the last post.....I did a little app spree.  Gonna stop that for a bit and only do it yearly or very carefully because......

 

The only thing that happened was a $100 increase on cap one QS card.   😞

 

i tried to recon Barclays/jet blue but they said too many credit cards last 2 yrs. (8 cards, some small limits and secured)

 

others I called and they said the BK. ( I am over 2 1/2 years since discharge 3/2016)

 

do I just keep calling the recon lines and see if I get different more lenient people?

 

i do have 5 lates total  on an 2  auto loans back in 2014 , pre BK

 

on my reports all my pre BK trade lines say IIB closed due to BK

 

do I have to change the TL status of my previous BK ...the TL before my BK?

 

thanks!

 

fico on TU and EXP is now 675

 

 

 

 

 

 

On 9/27/2018 at 6:19 AM, cv91915 said:

Congrats on the approval and the big leap forward!  Make sure you can get enough value out of that NF card to justify the AF after the first year. 

 

How did you end up with an $1,800 balance that you can't PIF?  Only use credit cards for things you were going to buy anyway, with money you already have.  Unexpected expenses are what emergency savings funds are for.

 

Good luck with your next steps!

 

Edited by credit-credit
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