I have been rebuilding for a while and have really been taking it slow. Started at 540 in 2013 with a secured CapOne. (Lots of lates over multiple student loan tradelines and 2 charge offs in 2012). I found this site and read about BoA secured with rewards so dropped 2k into the bank for a high limit. i didn't trust that I would be approved any other way so didnt even consider unsecured. I rode that out for 10 mos charging and paying immediately so no balance on either card. Called for unsecure and new balance was raised to 4k. Waited 6mos and requested a CLI ok 10k, countered with 7.5.
I want 3 revolvers since I am working towards mortgage, so its now or never on another inquiry, I'll be apping for home in 5 months. So I stopped in to my local credit union and asked about credit cards & minimum scores. I was told my EQ 665 would qualify. I decided on a low-rate, no annual fee product and had the service rep push the magic button. He suggested I apply for 3500 but told me they would counter if their loan dept felt it was too high. I told him if they were going to counter we should just shoot for the stars so I requested 10k. Waited for what seemed like an eternity and then bam APPROVED 10k. I'll add that to my 1k CapOne secured and my 7.5k BoA unsecured.
He also told me that I should be on track for mortgage if I keep working on my plan.
I thought about apping with capone and closing secured but it is 3 yrs old now so i think I'll leave it open until after mortgage loan obtained.
I just thought I'd share. Take it slow and read.these boards for advice and eventually it does pay off.
CU tip: The service rep was able to msg loan dept directly with additional details on my app like looking for a 3rd card, wont carry balance, etc. I dont know how much of a factor that played in the decision but i thought it was neat. Kind of like an instant messenger chat with recon but prior to decision.
So if you're looking for another card consider your local CU. He told me CC candidates are stronger if they've had some history at the bank, have a savings and have a direct deposit coming in regularly.
Now I'll just keep saving for down payment and work on goodwilling student loan lates.
I want 3 revolvers since I am working towards mortgage, so its now or never on another inquiry, I'll be apping for home in 5 months. So I stopped in to my local credit union and asked about credit cards & minimum scores. I was told my EQ 665 would qualify. I decided on a low-rate, no annual fee product and had the service rep push the magic button. He suggested I apply for 3500 but told me they would counter if their loan dept felt it was too high. I told him if they were going to counter we should just shoot for the stars so I requested 10k. Waited for what seemed like an eternity and then bam APPROVED 10k. I'll add that to my 1k CapOne secured and my 7.5k BoA unsecured.
He also told me that I should be on track for mortgage if I keep working on my plan.
I thought about apping with capone and closing secured but it is 3 yrs old now so i think I'll leave it open until after mortgage loan obtained.
I just thought I'd share. Take it slow and read.these boards for advice and eventually it does pay off.
CU tip: The service rep was able to msg loan dept directly with additional details on my app like looking for a 3rd card, wont carry balance, etc. I dont know how much of a factor that played in the decision but i thought it was neat. Kind of like an instant messenger chat with recon but prior to decision.
So if you're looking for another card consider your local CU. He told me CC candidates are stronger if they've had some history at the bank, have a savings and have a direct deposit coming in regularly.
Now I'll just keep saving for down payment and work on goodwilling student loan lates.