Well, I am feeling left out here. It seems that everyone else is leaving me behind! I applied for a Target Visa (RNB) online this weekend with a EQ FICO of 638. I lost 3 points for the inquiry and now I'm back down to 635 again! I was, however, approved about three months ago for the Guest card, but I have never activated it. The $200.00 LOC wasn't worth adding a new account to my credit file and lowering the average age of accounts. Even paying down my balances to 22% doesn't seem to help much. The highest score I've managed to get is 642 with a 22% utilization. I have 17 accounts listed, 5 of them closed accounts in positive standing. All my cards are bank cards, except for one retail card, and two gas cards. When I first started credit repair, I had 22 negative accounts and four positives (or something like that). Since then I've diputed items off the report but most dropped off after the seven years. I've gotten all the sub-prime cards out there, and there's nothing left to get that I can think of. But my score isn't getting high enough for me to break into the prime market. How long must I wait? Is there ANYthing I can do??? Thanks for listening Calmest_LA
You should be lucky. I was denied with a 663. I got the letter today stating why I could not get a regular target card(not even the visa just the stupid target card) and the #1 reason listed- too many inquiries.
Just a note, I also got the guest card a few months after my ch. 7 discharge last year and within a month or two my $200 was raised to $500 without me even asking. Just wanted to share my experience with them. Newstdt
My wife applied with a EQ FICO 661 and got "further processing required" - I assume this is a denial.
I had a guest card for awhile and they converted it to a Visa. Since you are trying to establish/rebuild credit, maybe a good strategy would be to activate the guest card and after you have a history with them call and request that you be converted to the Visa.
From what I understand getting a Guest Card will not automatically lead to a Target Visa. The two cards are based on different applications and scores. It seems that RNB is getting even more tight with scores. Last Nov/2001 a score of 650 will get you a 6k limit. A couple of months ago the score needed was about the same but only yielding a cl less than 1k. Now with these recent postings, looks like RNB has raised the FICO score needed for approval. Best regards, Mirage
Calmest I would go ahead and activate the Target guest card if you can. Use it a couple of times and once it is 6 moths old ask for a CL increase. After that apply for the Target Visa card.
