Nice Cards to apply for

  • Posts: 307

Replied by yoyo11 on topic Re: Nice Cards to apply for


Inquiries stay on your reports for 2 years. After 1 year they do not factor into your Fico scores.


Inquiries factor as 10% of your FICO score...:fun:
11 years 2 weeks ago #91

Please Log in or Create an account to join the conversation.

  • Posts: 146

Replied by MsKiwi on topic Re: Nice Cards to apply for

Inquiries actually don't count after 9 months. That is the truth and I was told by numerous bankers at a conference table during my awards ceremony.

When they "fall off your report" is a whole other story.

Inquiries affect your score, but not as much as other factors do, and only some creditors will hold too many against you.

A "hard pull" on your credit is something to carefully consider. A "hard pull" is also very taboo if you are trying to close on a house.

If you are a credit addict (like me), at least wait at least 9 months in between binges.

And bottom line- DON'T USE MORE THAN 35% OF YOUR CREDIT LIMITS AND DON'T EVER BE LATE ON YOUR PAYMENTS! THESE FACTORS WILL KILL YOUR CREDIT SCORE.


Inquiries stay on your reports for 2 years. After 1 year they do not factor into your Fico scores.
11 years 2 weeks ago #92

Please Log in or Create an account to join the conversation.

  • Posts: 32

Replied by yendor on topic Re: Nice Cards to apply for

...I said what? and waste another hard pull? Don't think so. Please call and make sure that your credit was already taken into consideration for your approval. Good luck!



Hey YoYo thanks for the advice on calling in to BofA.

If you haven't, please look on page 9 of this thread. I posted the entire scenario regarding this BofA offer. Tell me what you think or if any of this was your experience.

Thanks.
11 years 2 weeks ago #93

Please Log in or Create an account to join the conversation.

  • Posts: 307

Replied by yoyo11 on topic Re: Nice Cards to apply for

[B

I SECOND THAT!!![/B]]

I SECOND THAT EMOTION!!! Man I hope BoFa already approved you. I've wasted two hits with them...denied due to BK and 2nd denial due to BK on the partial secured card. After that, BOFa wanted me to apply for the fully secured card...I said what? and waste another hard pull? Don't think so. Please call and make sure that your credit was already taken into consideration for your approval. Good luck!
11 years 2 weeks ago #94

Please Log in or Create an account to join the conversation.

  • Posts: 32

Replied by yendor on topic Re: Nice Cards to apply for

Yendor, KellBell is correct, go with the bofa and get your foot wet with them. I am going to do the same any day. I am just so lazy about it and I know that they are going to do a hard pull on me. I hate inq's.


I SECOND THAT!!!
:cheesing:
11 years 2 weeks ago #95

Please Log in or Create an account to join the conversation.

  • Meya
  • Meya's Avatar Topic Author
  • Offline
  • Finance Commander
  • Finance Commander
  • Posts: 4523

Replied by Meya on topic Re: Nice Cards to apply for

Yendor, KellBell is correct, go with the bofa and get your foot wet with them. I am going to do the same any day. I am just so lazy about it and I know that they are going to do a hard pull on me. I hate inq's. :upset: There should be a law that only judge what you have, not what you are trying to get.
11 years 2 weeks ago #96

Please Log in or Create an account to join the conversation.

  • Posts: 32

Replied by yendor on topic Re: Nice Cards to apply for

oops, Done after the BofA Secured card,:cheesing: gotta do that.
11 years 2 weeks ago #97

Please Log in or Create an account to join the conversation.

  • Posts: 32

Replied by yendor on topic Re: Nice Cards to apply for


And bottom line- DON'T USE MORE THAN 35% OF YOUR CREDIT LIMITS AND DON'T EVER BE LATE ON YOUR PAYMENTS! THESE FACTORS WILL KILL YOUR CREDIT SCORE.



KellBell, Thank You! Didn't know this was a factor. With that said, I am done until my balances are at or under this threshold.

For me, only the M.C.'s have seen sustained usage, as I have only this past week, began receiving the Store cards. And now, thanks to your advice, they will remain in the drawer. :relieved:
11 years 2 weeks ago #98

Please Log in or Create an account to join the conversation.

  • Posts: 32

Replied by yendor on topic Re: Nice Cards to apply for

Maybe you should go with BofA, I have heard that they will grow with you.



Eldarwen, I have heard this and it is exactly the reason I plan to accept the offer. I have, in my opinion, a good balance of Post-BK credit cards, low limits, sure. But for me, this isn't necessarily a bad thing because no matter my usage, I can always afford to pay them.

So, thanks for the encouragement.
11 years 2 weeks ago #99

Please Log in or Create an account to join the conversation.

  • Posts: 153

Replied by KellBell on topic Re: Nice Cards to apply for

Inquiries actually don't count after 9 months. That is the truth and I was told by numerous bankers at a conference table during my awards ceremony.

When they "fall off your report" is a whole other story.

Inquiries affect your score, but not as much as other factors do, and only some creditors will hold too many against you.

A "hard pull" on your credit is something to carefully consider. A "hard pull" is also very taboo if you are trying to close on a house.

If you are a credit addict (like me), at least wait at least 9 months in between binges.

And bottom line- DON'T USE MORE THAN 35% OF YOUR CREDIT LIMITS AND DON'T EVER BE LATE ON YOUR PAYMENTS! THESE FACTORS WILL KILL YOUR CREDIT SCORE.
11 years 2 weeks ago #100

Please Log in or Create an account to join the conversation.

  • Posts: 532

Replied by Eldarwen on topic Re: Nice Cards to apply for

Maybe you should go with BofA, I have heard that they will grow with you.
11 years 2 weeks ago #101

Please Log in or Create an account to join the conversation.

  • Posts: 32

Replied by yendor on topic Re: Nice Cards to apply for

Ok wait a minute.....:shocked: Today, 8/28/08, I received a denial/offer letter from BofA...

On 8/23/08, I Applied online for Platinum MC. Instantly, Denied.:laugh: However, the letter confirming this was bundled with an "Already Approved" offer for a secured card??? They even included an acceptance certificate and return envelope. Offer expires 10/8/08

So what I am thinking is, if in fact this offer is "Already Approved", then there wouldn't be another inquiry and more importantly, there would be an inquiry-related-account, on my reports.:relieved:--- I mention this because I believe this softens the score-hit impact, caused by Hard-Pulls.

Anyway, my question is, does a secured card report differently on credit files, or does it show as any other standard credit card would?

Oh, BTW, Yes I am going to accept this "Already Approved" offer as it gets me in the door to Bank Of America.:cheesing:
11 years 2 weeks ago #102

Please Log in or Create an account to join the conversation.

  • Posts: 532

Replied by Eldarwen on topic Re: Nice Cards to apply for

Elderwan you have to call the backdoor number customer ervice would not do it for me too at first with customer service then I called
Chase



I will have to do that. I am going to first pay them both off and wait a little bit to do that. I don't have much of a use for the Freedom anymore, but do have a better use for my Amazon.com Visa.
11 years 2 weeks ago #103

Please Log in or Create an account to join the conversation.

  • Posts: 32

Replied by yendor on topic Re: Nice Cards to apply for

Thanks Shark.
Found out that Nord'y pulled Equifax. Which is bitter/sweet;

Bitter: EQ Reporting a collection, though it does list as being included in the BK.

Sweet: Only two Inquiries without an account associated. And 5 Less inq's then Experian.

I will update my Nord'ys status when I get the letter.
11 years 2 weeks ago #104

Please Log in or Create an account to join the conversation.

  • Posts: 208

Replied by shark6 on topic Re: Nice Cards to apply for

To Yendor:

Iw ould cool it for a while. Inquiries like the other posters have said tend to hurt your ficos if too many. Also, individual cc companies may frown upon too many inquiries and may deny you just because of that.

I would not reapply for the denials in a years time if I were you. I would concentrate on 1 of the denials after researching which card is easier to get for someone in your circumstances.

I know that WAMU is only by invitation only so you have to wait on a pre-approval from them. BOA tends to be a bit more strick. IMO, HSBC may be the easier one to get. Probably, if you keep your utilization rate down, pay on time and not late, u may start to see pre-approvals from HSBC.

Nordstrom
Yes, it is customary not to be approved instantly online and to get the processing message. This happened to my daughter and we felt for sure that she would be denied. The card turned up a week and a half later. Nordstrom pulled equifax in my state.

Please note that Nordstrom is a card that has rules regarding inquiries. They will deny if you have too many even if your scores are over 700. I think than anything over 4-5 inquiries may be cause for a denial from the.

You're doing good so far. I would concentrate on paying more than the minimum, not charging up and asking for credit limit increases every 3-4 months fromt hose cards that don't pull a hard one to do a credit increase.

I know that Penney's doesn't and u can ask for an increase right on their site. So, if you got their card in June, I would charge about $70-$80 pay more than the minimum and by Oct, ask for a CLI.

Good luck
11 years 3 weeks ago #105

Please Log in or Create an account to join the conversation.