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Everything posted by wildgeese

  1. see, i am getting mixed reviews on this. i put my question up at suze orman's site too. : my goal is to keep my score high and possibly improve it, and also build a strong credit history, which i think means very slowly increasing my limit and using that responsibly. (for example, if i ever need a loan in the future for a home or a car, i need more than a high score.) the contradiction in advice to do this seems here: i have to use the card regularly in order for them to raise my limit, and keep something on it. but i have to keep it down below a certain amount or they won't raise it either. maybe i'm looking at this wrong. maybe it's not a contradiction. maybe i'm just looking at a very small range? so like, 25% would be too low, but 50% would be too high? anyone? thank you so much for your feedback on this so far! this forum is so helpful! and by the way.... what is "PIF?" thanks!
  2. So I haven't been here for a while. I finally got my first credit card, my score is still great, 747 I think. They've only given me a limit of $3000 however. So, since I've been paying it on time for eight months now and using the card regularly, and I have a big life event coming up soon, I thought now would be a good time to ask to raise my limit a little. They rejected me on the basis that I'm using too much of the credit line- despite that I've done everything right apparently I'm too close to that $3000. Well, when you use $2000 and pay it regularly, it's still a very small amount! I had no idea this was a problem. But since apparently this is one of their criteria, here is my question: What amount- I guess it would be a percentage- should I get my limit down to to ask them again? I asked the credit company; they said they can't give me info. on the rejection, and their letter of course does not state this. It's almost a catch-22- I practically have to not use the thing to keep it so low, but of course that would disqualify me too. Thank you to anyone who has real info. on this!
  3. Hello all, Ok, so after months of chasing down a company- Target- I finally got them to send me proof of what I owed them on a bounced check, or at least a formal bill with the information printed on it. The amount is really very small and I donʻt mind paying it. The problem was that they had sent the amount to a collection agency without notifying me of the debt first, and I wasnʻt about to pay the agency, I wanted Target to send me formal payment request. Here is my problem now. I want to make sure that when I send my payment to Target, they remove me from the collection agencyʻs list!!! I have excellent credit right now and am about to apply for my first card, so I donʻt want their screwing things up again to ruin my chances!!! What kind of formal letter can I send to Target along with my payment that will ensure that this NEVER ends up on my credit report as a negative impact? I would like to pay this once and for all tomorrow morning, so anyone whoʻs around tonight? Iʻd love to hear from you!! Thanks so much! Nicole P.S. I see many sample letters to send to agencies and companies on this site, but none that works for this....
  4. ...and know better than maxing out a soon as you get a card, that wonʻt happen. right? the c.u. iʻm interested in would probably give me a really low limit too, i think....
  5. I am interested in applying at a credit union tomorrow. My average Fico score is 784 right now. Amex Blue has a really good intro rate (found through bankrate) that actually does not rise to much more than the credit unionʻs standard intro rate, which is 11.79%. So I am wondering.... What if I try applying one more time tonight to Amexʻs card online? Thereʻs a chance I could be accepted because I havenʻt tried in a while. But if I am rejected tonight, how much would that bring down my score? And how would that impact my credit union application tomorrow? In case you are wondering why I have such a high score but canʻt get credit, read this other post: http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=272159 THANK YOU!! wildgeese
  6. hi willing.... THANKS for your reply!! so.... you say 11.79% is good. ok. i know itʻs not bad. but for the sake of argument, i have seen some out there for like 7.9% , like i think one thatʻs called "pulaski." but i donʻt know if i *could* qualify for that. if i could obviously it would be better. the question for me is *how!* also, suze orman seems to recommend taking advantage of the 0% in the first year. but they all skyrocket after that, like you say; i canʻt find any that donʻt. if it is just an endless circular dance of: "you donʻt have credit so you canʻt get credit so you still donʻt have credit so you still canʻt get credit...." than maybe i have no *choice* but the credit union.... wildgeese
  7. ... to credit agencies? and wouldnʻt you have to at some point, if, like in this situation, you had to write them a check? is there an alternative? thanks! wildgeese
  8. Hello, I am 30 and working on getting my first credit card. I just checked my FICO scores and reports, and see that I have an average score of 784, with no problems reported in my history. I do have student loan debt, but I returned to college late, and am in the process of transferring to another school. So although I have debt and I have never paid anything off, neither have I made any late payments: none have come due yet! Despite my score, whenever I try to apply for a card I am turned down altogether. The only thing I can think of is that my age and my student loans have something to do with this. But this makes no sense to me, since in college I knew students who had horrible credit history with a similar amount of debt, and STILL were able to get multiple credit cards! And I just want one, for responsible living expenses. The companies that turned me down send me to the credit bureaus, who in turn tell me my history looks good. So what is going on here? Second question: I found a local credit union that seems to be a little more flexible with accepting applicants. They tell me that their starting interest rate is 11.79% for all applicants. This seems high to me, particularly with my excellent FICO score; however I don't know if I can do better, and I don't know why. Is that high, and can I do better? Is it still better after a year? I realize that I might be able to get a secured card but I prefer to figure out what is going on first, to know if a regular card is an option for me, but I'm doing something wrong.... I am planning on going to the credit union tomorrow, and I still have yet to find any definitive advice on whether or not 11.79% is a good, bad, ugly, or amazing starting interest rate for someone in my position. Please risk being wrong and just tell me what you *think,* any financial wizards out there; because I have NO advice on this particular. And tell me why you think that. I donʻt want to wait any longer if there IS no answer. But I donʻt want to find out a month or two from now that there was a much better deal for me elsewhere! The reason that I am hoping to do this asap is that I am expecting some major life changes ahead, and I want to have an "emergency" plan and as much financial independence as possible. I have been researching my options for long enough, just not finding answers. THANK YOU IN ADVANCE ALL WHO CAN REPLY!!! wildgeese P.S. In case you are wondering whether I qualify financially, I definitely meet the income requirement; I work a salaried job and earn $26,000 which isnʻt huge but itʻs certainly enough. When I get turned down, I always ask: there is always insufficient information I am told to explain why, and I am sent to the bureaus to inquire further. They donʻt give you the info then and there: they give you a letter saying that since you have been turned down, you have a right to request a free report from the bureaus, which should explain why. But as I explained, when I go to the bureaus(Equifax, Experian, Transunion,) I have nothing negative on my report, so this is why I donʻt understand what the problem is!
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