Been reading here for about 6 months, this is my first post.
A little back story. In 2009 i was 19, got my first credit card, then get approved for like 5 more right after. For maybe a total of around 3K in CLs.
Unfortunately, i was in the begginnings of what would become a 6 year battle with a really horrible addiction to heroin. Being addicted to heroin I cash advanced what i could, maxed out the rest, and litterally just never paid them. I couldnt care less at the time.
They all went to colletions, i just ignored them. (currently i have 4 accounts in collections but they are all close to the 7 year mark of dropping off so from what ive read it seems better to just allow them to age and drop off)
Next experience with credit was a 10K car loan i got through santander bank in 2013 with a 23% APR (LOL!) and luckily i made the first 4 payments on time, was late on the 5th, and nodded out on the highway and totaled the car like a week later and my insurance paid it off.
March 9th, 2015 I got clean and sober and have not taken a drink or a drug since.
Maybe like 9 months or so sober I decided to try to work on my credit, opened a credit Karma account, found out my scores were 507 and 517, tried for a few secure cards got denied for everything, got discouraged and gave up.
I got back into it in aug/september 2016 when i finally was approved for the scam that is First Premier Bank card with a $ 300 limit, and $ 170 upfront fees to open it. It was the only thing that would give me a chance and i needed to start somewhere so i looked at it as paying $ 170 to begin a new start.
As soon as that card hit my report my scores jumped to around 580.
From there in october I got accepted for a Credit One Bank card with a $ 400 limit (increased to 550 automatically the day i made my first payment)
Scores now around 600
I had destroyed my ChexSystem report aswell so I couldnt get a bank account either. I found out they only hold records for 5 years so i requested my report and it was clean so i opened my first bank account since 2009 with SECU credit union. They offered me to apply for both their CC and a Preferred Revolving line of credit. Denied for the CC, approved for the PLC ($ 500) (i never use it)
Next, which was in december, I did the pre-approval and to my suprised (last i checked i was denied for a secured card and one of my derogs is cap 1) i was pre-approved for cap 1 platnium. $ 300 Limit.
Cap 1 hasnt showed up on my report yet but my CK scores sit around 646
Within the last 2 weeks i went a bit crazy, 1 approval lead to another and i have opened the following
Paypal Extras MC $ 700 limit
Amazon Prime store card $ 700 Limit
Walmart Store card $ 900 limit.
My thinking was that now that my scores were decent Id get a few accounts together before they started hitting my report and temporarily bringing my scores down, then go into the garden for the next year or 2. Which is what I think i should do now. (i think i went a little overboard and opened to many)
I have 6 cards total and 1 revolving line of credit with the CU.
My fico 8s as of today are ex 600, eq 599, TU 629
Amazon prime, cap 1, and SECU revolving have not yet shown up on my reports. I expect all the new accounts and inquires to drop me some off the bat but if i can stay in the garden for the rest of 2017 I think i can end the year hopefully breaking 700s.
BTW, I have about $ 6k in savings and stocks, have a job making about 40K/year and ALWAYS pay my cards in full every month. Never carry a balance, and usually pay 2-3 times per billing cycle because the limits are so low.