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New to this forum. Currently use two CCs...Amex True Rewards and American Airlines Citicard. Don't recall the Amex credit limit (have had the card for about 5 years). AA Citicard I've had for 15-20 years with high credit limit, $35,000 I think, though I have no need for a limit that high....they just kept raising it over the years. Charge about $800-$1,000/month on Amex for those items where we benefit by charging on that card. On AA Citicard, charge about $1,000 month. Pay off both cards in full every month, so don't really care what the interest rate is. Want to drop the AA Citicard and get a Cap 1 Venture card instead for the flexibility in using travel miles. We'll keep the Amex card. Last time I knew (about 2 years ago), my FICO score was 795. My question: Should I drop the AA card first and then apply for Cap 1 card, or keep the AA card and then apply for Cap 1? What are my chances for being approved by Cap 1? Also, how will it affect my FICO score with the expected drop in credit limit on a new Cap 1 card, where I won't have the $35,000 limit on AA anymore and will likely have a much, much lower credit limit on a new Cap One Venture card? Thanks.
@Anonymous wrote:New to this forum. Currently use two CCs...Amex True Rewards and American Airlines Citicard. Don't recall the Amex credit limit (have had the card for about 5 years).
AA Citicard I've had for 15-20 years with high credit limit, $35,000 I think, though I have no need for a limit that high....they just kept raising it over the years.
On AA Citicard, charge about $1,000 month.
Charge about $800-$1,000/month on Amex for those items where we benefit by charging on that card.
Pay off both cards in full every month, so don't really care what the interest rate is.
Want to drop the AA Citicard and get a Cap 1 Venture card instead for the flexibility in using travel miles. We'll keep the Amex card. Last time I knew (about 2 years ago), my FICO score was 795.
My question:
Should I drop the AA card first and then apply for Cap 1 card, or keep the AA card and then apply for Cap 1?
What are my chances for being approved by Cap 1?
Also, how will it affect my FICO score with the expected drop in credit limit on a new Cap 1 card, where I won't have the $35,000 limit on AA anymore and will likely have a much, much lower credit limit on a new Cap One Venture card?
Thanks.
Welcome to Forums chuckster!
Bump! Anyone?
Your chances for approval would be 100% base on your credit profile. Your AAoA is great, available credit is great. I say pull the trigger. I would personally keep both of your cards open to let the Venture card match your other CLs. Lenders are drooling over your credit reports