bridad Posted September 19, 2008 Report Share Posted September 19, 2008 I’ve been lurking here for several months, reading everything that may help me and separating the chaff from the wheat about rebuilding my credit. Last night, In a moment of weakness, I applied for a Macy’s store card online. I had planned on doing it after the holidays, but eavesdropping on everyone’s ‘give-it-a-shot’ encouragement here kinda convinced me to strap on a pair and go for it. I filled out the online app and got the obligatory ‘text or call us’. Texting didn’t even hurt, the only thing they needed was address verification. A phone call later, I got my card number and asked what my credit limit was. The young woman gave me the ‘well, online applications are always lower than in-store applications (here it comes, $100.00), and you can request an increase after 3 months. We’re starting you at $800.00. And would you be interested in our Macy’s Visa?” Er, yes. MyFico scores as of last week are Eq:789, Ex:770, Tu:775. I know, I can hear someone saying ’BFD. Is that all you got with those scores?’ Now, here’s where it gets interesting. Prior to Macy’s, I had only one active tl, a Capitol One M/C I opened in April of this year, with a cl of $750. But I still show an ‘account paid satisfactorily’ entry (Gemb) that was opened in 94 and last used around 2000 showing up on all 3. I wonder how many other people are working on rebuilding their credit and have no idea what is still on it. It gives me a 14 year satisfactory credit report, and I’ve been nurturing the h*ll out of Capitol One to keep everything clean. I charged close to the max when I first got it, and pif with a few days just to show that I could pay off whatever I charged. It has always been under 20% at billing time, and I usually pif. The Gemb was mine, but it’s not accurate. But I’m not rocking the boat. I know I’m going to take a bit hit when Macy’s and the Visa finally post (hard pulls for both, I was told), but by then I will have enough cards to keep me happy until the urge strikes again. To anyone out there (like me) who’s quietly studying all the wonderful advise this site has to offer, GET YOUR CREDIT SCORES before you do anything. You might be pleasantly surprised what’s lurking there, and you’ll have some idea where you’re starting from. Then search for applicable posts and read them. Then read them again. And pay attention to what all these people are saying, they’ve all ‘been there, done that; have the t-shirt’. And to everyone who I've been quietly stealing wisdom from, thank you. It's not just your knowledge that's so valuable, it's your constant encouragement to cast loose that butt anchor and move forward. Scotch and cigars for everyone! Link to comment Share on other sites More sharing options...
tommy32 Posted September 22, 2008 Report Share Posted September 22, 2008 I think those are some real great scores, I will trade ya a 529 EQ for the 789 LOL:lol: Link to comment Share on other sites More sharing options...
new mom Posted September 22, 2008 Report Share Posted September 22, 2008 ditto Tommy32!!!!!!!!!!! Link to comment Share on other sites More sharing options...
tommy32 Posted September 22, 2008 Report Share Posted September 22, 2008 ditto Tommy32!!!!!!!!!!! Right??? LOL Link to comment Share on other sites More sharing options...
bridad Posted September 22, 2008 Author Report Share Posted September 22, 2008 The numbers look good, but it's an extremely thin file. Had I checked my credit scores sooner, I would have noticed I had something to build on, instead of assuming that everything (good and bad) was off my credit. I took a 10pt hit on the hard pull (Experian), but I have now have 2 new cards to rebuild with. And if I go for another card every 3-6 months, it should give my scores time to settle down. Link to comment Share on other sites More sharing options...
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