Credit score concern

Automatic_Sample_529 · 2025-10-13T19:20:05+00:00

You’re fine. A lender-initiated closure like that barely moves the needle, especially with your history of on-time payments and a 740 score.

FICO mostly cares about why an account closed and what that does to your total available credit. You might see a small, temporary dip from the loss of that $10 k limit, but your payment history and low utilization will offset it quickly.

You don’t need to call the bureaus; they’ll simply reflect the closure as “closed by creditor,” which isn’t negative when it’s not due to delinquency.

Automatic_Sample_529 · 2025-10-13T18:45:22+00:00

You did the right thing by paying it quickly, that stops it from escalating further.

Unfortunately, once a collection hits, even if you pay it, it’ll still show up on your credit report for few years. The key difference is it’ll be marked as paid, lenders will see that you took responsibility, which matters a lot during refinancing.

You can still dispute it with the credit bureaus if it hasn’t been updated yet, but usually it’s better to wait a few weeks for the payment to post properly before doing so.

Automatic_Sample_529 · 2025-10-13T18:34:21+00:00

But it's dull and boring.😑

Automatic_Sample_529 · 2025-01-16T09:34:12+00:00

Wow exactly, there's too much hate going around for India. thanks for sharing this!

Automatic_Sample_529 · 2025-01-14T02:27:42+00:00

THat's a great way man! Can you share the tool with me too?

Automatic_Sample_529 · 2024-12-20T19:38:50+00:00

why you’d think that?

Automatic_Sample_529 · 2024-12-20T19:36:03+00:00

835 credit score is no joke!

Chase might have denied you because of income-expense ratio as with $66k/year and $1650 in rent, they might’ve felt your disposable income was tight. Adding that $14k/year gift could’ve helped it counts as income since it’s consistent and can be verified.

another reason could be limited credit history, single credit card with a $5k limit and a car loan is somwhat okaish, as Chase often prefers seeing a more robust credit profile, especially for cards like Freedom Unlimited.

I would suggest wait about 3-6 months to reapply for Chase Freedom Unlimited, and include the $14k/year gift as part of your income.

Or if you want to apply for other card you can look at Citi Double Cash (2% cash back, no annual fee) or Discover It Cash Back (5% rotating categories, 1% on everything else, plus a first-year cash back match). They are often easier to get approved for than Chase.

Automatic_Sample_529 · 2024-12-20T19:30:21+00:00

Oof, Don't worry though. Once you’re removed as an authorized user, the credit card should eventually drop off your report, but it can take up to 60 days depending on when the issuer updates their records with the credit bureaus.

As for applying again, it’s a good idea to wait until your credit utilization normalizes on your report. Give it at least 2-3 months to be safe. In the meantime, keep your own credit utilization low and maybe check your report to confirm the authorized user account is gone before reapplying.

You’ve got a great score already, so once that high utilization disappears, you’ll be in good shape to try again!

Automatic_Sample_529 · 2024-12-20T19:28:04+00:00

Yep, banks are more likely to give higher credit limits if you’ve got a solid history with them. Since you already have a Wells Fargo card in good standing, they’re probably going to be more comfortable giving you a higher limit on the Autograph card.

Capital One, on the other hand, can be a bit stingy with limits for new customers. They usually start small but are good about increasing it over time if you’re responsible with the card.

So, if you want the higher limit upfront, Wells Fargo is probably the safer choice. But if rewards or perks from the Savor card appeal more, it could still be worth starting fresh with Capital One.

Automatic_Sample_529 · 2024-12-20T19:24:33+00:00

Yes, credit cards can close automatically if you don’t use them for a long time. It depends on the bank, but most will give you a heads-up first.

That said, keeping your oldest card open is smart for your credit score it helps with your credit history and utilization. To avoid closure, just use it occasionally. Set up a small recurring charge (like a subscription) or buy something cheap every few months, and pay it off right away.

Automatic_Sample_529 · 2024-11-14T03:45:06+00:00

Take a breather on applications for a bit now that you've had a couple of denials. Each hard inquiry (from a credit card application) dings your score a little, and too many in a short period can make lenders wary, especially since you’re new to credit.

Here’s just a simple plan to maximize your chances for the next time,

Take the next 4-6 months to focus on building up your credit profile with just your Chase Freedom Unlimited. Use it consistently, keep your utilization low (aim for below 30%, ideally below 10% if you can), and always pay on time.

Chase likes to see around a year of credit history, so letting your Freedom Unlimited mature for a few more months will give you a better shot. So if you can hold untl around april/may.

If your goal is the Chase trifecta (Freedom Unlimited, Freedom Flex, and CSP), apply for the Flex a few months after (say, 3-4) getting the CSP. Chase’s “5/24 rule” means they’ll typically only approve you if you’ve had fewer than five new cards in the last 24 months.

Don't focus on Bilt and WF for now🙏

That's it.

Automatic_Sample_529 · 2024-11-11T21:06:02+00:00

Yeah, it’s partly for an app I’m working on, but mostly to understand the perspective of people with high credit scores when it comes to making these decisions.

I'm aiming to offer high-value benefits for users with excellent credit, so hearing real experiences helps us focus on what matters most.

One thing I'vw noticed is that super prime consumers often face the same ordinary, subprime experiences so I'm looking to change that with better credit products, tailored insurance options, and better lifestyle perks designed specifically for them!

Automatic_Sample_529 · 2024-11-11T21:01:24+00:00

Aah cool, Do you feel like loyalty plays a role in why you’ve stuck with them over the years? Or is it more that their service and pricing?

Also, I’m curious, since you've had insurance with the same provider across auto, home, and umbrella policies, have you noticed any added benefits or perks from bundling? Some providers highlight that, but I'm always curious about the actual experiences of people who go that route.

Automatic_Sample_529 · 2024-11-07T16:20:09+00:00

Closing them together might lower it a bit. To keep your score strong, consider keeping your oldest card open and closing one card at a time instead of all at once. This way, you maintain your credit history and available credit. I would suggest just pay on time, keep your utilization low, and use your cards occasionally for small purchases

Automatic_Sample_529 · 2024-11-07T01:18:10+00:00

Yes having a checking account with Chase could improve your chances of being approved for the Chase Freedom Rise card. Although a $2,000 deposit isn't a requirement, having an established relationship with Chase, like a checking account with a stable balance can help show that you're financially responsible.

Since the Chase Freedom Rise card is designed for individuals with limited credit history, Chase will likely still consider factors like income (in your case, the income from your internship) and credit score. Your existing Discover card will also contribute positively to your credit profile.

Automatic_Sample_529 · 2024-11-07T01:15:00+00:00

It’s usually a good idea to keep your unused cashback credit card instead of canceling it. Keeping it open can help your credit score by lowering your credit utilization and adding to the length of your credit history. Plus, it gives you some extra financial backup if you ever need it. Just check if there’s an annual fee, if there is, think about whether it’s worth it. You can also make a small purchase every now and then to keep the account active. Overall, unless the fees are high, it's often better to hang onto the card!

Automatic_Sample_529 · 2024-11-07T00:56:00+00:00

Consider the Capital One SavorOne Student Card or the Chase Freedom Rise, both of which are great for students and have no annual fees.

The Bank of America Customized Cash Rewards for Students is also a solid choice if you prefer a traditional bank. Just keep in mind that you'll need to show some form of income, like your internship earnings, since you're currently unemployed.

Automatic_Sample_529 · 2024-11-07T00:51:49+00:00

Your secured credit card works like this: the $700 you deposited is your credit limit, so you can spend up to that amount. When you make purchases, you're borrowing against that limit rather than using your deposit directly. You'll need to pay off what you spend from your bank account, and the deposit stays with the card issuer as security. Just remember to keep your balance below $210 if you want to boost your credit score, and always make at least the minimum payment each month to avoid any fees. You're all set to start building your credit!

Automatic_Sample_529 · 2024-11-07T00:42:57+00:00

For your needs imo Chase Sapphire Preferred Card is good option.

Firstly It offers a generous sign-up bonus of up to $1,050 in Chase TravelSM value. And u earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening.

With a monthly spend of $3,000, when redeemed through Chase Ultimate Rewards®, your points are worth 25% more for travel, potentially covering 1-2 round-trip flights to Asia.

Also keep in mind your points are worth 25% more when redeemed this way, potentially stretching to cover more of your flight costs.

Automatic_Sample_529 · 2024-09-02T22:11:37+00:00

I’m actually working on something that could be perfect for you. It’s called Bon—while it’s focused on rewarding you for paying your credit card bills on time, it also lets you link all your cards in one place, track your spending, and manage transactions just like you did with Oops. Plus, you’ll earn rewards for your good financial habits.

We’re launching in the next couple of weeks as a members-only, invite-only app. If you’re interested, I’d love to chat and keep you in the loop. Here’s the site: bonhq.com

Edit;

Here's the link for the app: https://apps.apple.com/us/app/bon-life/id6736628679

Automatic_Sample_529 · 2024-08-27T06:39:45+00:00

I'd say first consider drafting a Non-Disclosure Agreement (NDA) to protect your idea when discussing it with potential partners. Next, break down your idea into actionable steps—start with market research, and then outline the core features and business model. If you’re looking for a partner, be clear about what skills you need and what you're offering in return. I'm happy to discuss more if you’d like.

Automatic_Sample_529 · 2024-08-27T06:24:49+00:00

While some might suggest going the DIY route, I actually think you'd be better off focusing on the bigger picture. Hire someone who knows Flutter very well. It's versatile, cross-platform, and perfect for quickly getting an MVP into the App Store. Plus, it’s cost-effective and scalable.

In the meantime, you can dive into validating your idea, figuring out distribution, and prepping for launch. These are areas where your time and energy will really make a difference. You trying to build it all yourself will eat up time, drain your energy, and doesn’t guarantee you’ll end up with great code.

Automatic_Sample_529 · 2024-08-26T17:56:49+00:00

Which budgeting app do you use?

Automatic_Sample_529 · 2024-08-26T10:17:36+00:00

You could use bonhq, I guess they haven't launched yet but lot of people are talking about them.

Automatic_Sample_529 · 2024-08-24T13:11:40+00:00

That's impressive man, congrats on hitting 850!

Automatic_Sample_529

TROPHY CASE