Retail CC and Hello

Discussion in 'Credit Talk' started by Debmac, Jul 20, 2001.

  1. Debmac

    Debmac Well-Known Member


    I'm new, but have been lurking for about 2 months now and want to say I LOVE this board! GREAT advice which I've followed a bit.

    Here's my question: I'm trying to hit the 4 CC/1 retail CC, and so far:

    Cap1 as of 7/16 (that's right!)
    GetSmart as of 6/01
    1st Premier as of 1/01

    I tried for the Target online (about 1 mo ago when I had a EX/Fico of 601) but got the "further processing" response and then the "no thanks" letter.

    I'm looking for a retail CC that is NOT associated with Monogram Bank, but that I can get with a now FICO (as of 7/19/01) of 572...

  2. nursie

    nursie Well-Known Member

    wow. How did your FICO dip down so much? I wouldn't think that new accounts would lower it that much, or did they?
  3. Debmac

    Debmac Well-Known Member

    Me either! I have no idea; no new deliquents... I thought that my auto loan (as of 1/01) and the 1st Premier going over 6 mo. would have increased it.. maybe too many inquiries?
  4. Marie

    Marie Well-Known Member

    you'll see recovery of scores at 6 mos, 12 mos, 24, and finally max points at 36 mos.
  5. Debmac

    Debmac Well-Known Member

    Yepper ;-) That's what made me get the GetSmart and Cap1 (June was my 6 mos on the auto and 1st Premier... secured, BTW).

    Should I wait a couple more months and get another subprime CC, or get a retail? I'm thinking that a retail may be easier to get at Xmas time (with all the store promotions, etc.)

  6. NanaC

    NanaC Well-Known Member

    Hi, Deb...welcome!! I don't have an answer for you..but I'd be interested in what they have to say..Good luck. Keep us informed, o.k.?
  7. dinob12

    dinob12 Well-Known Member

    I was a lurker too for awhile but I too understand how new accounts can crash a credit score..My score fell from a 573 with no accounts and 2 inquries in the last 18 months..Now with 6 inquries (eq ) and 4 new cc lines ( CCB, PRovidian, Getsmart, and FCNB and soon to be a joint on my mothers Target card but my score now is a 506..All within a 4 month process my score has dropped by 67 points...It was a 533 with 2 accounts reporting...Now with 4 it dropped another 27 points

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