First, I have lurked on these forums for a few months now. There is so much great advice to take in and everyone seems very open to helping others, it’s refreshing. Anyway, this time last year I had at least one score in the 500s and didn’t even want to see the other two. I thought attaining good credit is next to impossible. 4-6 years ago I made terrible mistakes with my credit, such as: defaulted payday loan, late payments, and charge offs/collections. Times were so rough that I had to hope someone would give me a few hundred bucks just to make it to the next month. Obviously, that was a reckless way of living and didn’t last long. The reprecussions however have seemed to last an eternity.
Fast forward to winter 2014, I finally started to make a consistent wage, and decided enough was enough. I have battled to remove any and all baddies from all of my reports. I do still have a few on all 3 which I am still working on but what a difference a year makes. About 7 months ago Credit One sent me a preapproved $ 300 card offer. I didn’t think anyone would approve me for a card so I just went for it. Upon approval I used in a responsible manner and a few months later my score started jumping significatly. I finally started getting approvals and obtaining a second chance from other lenders. I do not like Credit One and will close the account soon but for now I’ll keep them around (until the yearly fee is about to hit).
Currently, I guess it’s time for me to start gardening. A bulk of my cards have come in the last 90 days. After receiving a preapproval mailer for Chase Slate I applied last night, although I know they aren’t keen on a lot of new accounts/inquiries. I received a 7-10 day message and thought of course it’s denied. Called in to recon after they e-mailed me about a 30 day wait. The gentleman was very courteous but told me unfortunately because EQ still has 2 collections on there plus the new accounts he couldn’t approve me. Knowing my TU is better and with less negatives I asked if he can run them specifically and reconsider. He obliged. After about five minutes he came back on the line and asked me about my goals. I explained that my report makes it painfully obvious that I’ve been in rebuilding mode and unfortunately I had to obtain subprime cards to build some credit, with every intention of closing them after obtaining a few prime cards. He understood but still declined me because of the new accounts. Although I was declined it felt like a win, he was honest and didn’t give me an auto denial with no chance of recon within 10 seconds. It seemed clear it was just a too much too soon kind of thing which I expected going into it. Anyway, I’m going to continue working on the negatives while building up the positives. Hopefully this message can be helpful for others out there who felt just as helpless as I did this time last year.