I just checked AMEX's automated application inquiry phone number and found out that I was approved for a BLUE for students card. "You will receive your new account package in the mail." I now have a 4-0 record with applications since my last derogs were removed from the last and final CRA (Equifax) since September. I have been able to get the AMEX account, a electronic retail store account, loan, and new bank account since September. This has made my life a whole lot easier. The only thing is that I think all 4 creditors pulled EQ (I ordered a free copy today) which has most likely damaged my FICO score. I am putting a halt to all applications and inquiries at least until the spring of 2002 when my oldest tradeline ages 2 years so I can dump the subprime accounts I have and move on to prime. Last I checked my scores were TU - 707 EX - 705 EQ- 702 (which was back in Sept. before I made the 4 inquiries which problaby has caused my FICO to skydive under 700) On another note, I am on the verge of dumping Capital One who has me with the smallest limit and highest APR out of all my accounts.
Thanks Don't worry. Two years ago, my file was a mess and my scores were most likely in the pits. Almost two years of work has come finally culminated to this. My credit cycle went something like this 1. Period of No Credit History 2. Period of Introduction to credit and Student Cards 3. Period of lost of income and charge offs 4. Period of paralyzed credit 5. Period of credit education 6. Period of recovery and and repair 7. Period of reintroduction to credit in the subprime 8. Period of reborn credit file begins I'm now in the "Period of transition from subprime to prime" and my ultimate goal is "Period of Platinum status." The best thing for me to do right now (from what all the score factors tell me) is to sit and allow my current accounts to age.
