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All FICOs are > 800 now what? Thinking another store card? Rooms to go?

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Anonymous
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Re: All FICOs are > 800 now what? Thinking another store card? Rooms to go?


@Fox342 wrote:

I would work as hard as I could to get that student loan debt paid off as soon as possible.  There is no better feeling than being out of debt.

 

Fox


I agree Fox!

Message 21 of 29
Anonymous
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Re: All FICOs are > 800 now what? Thinking another store card? Rooms to go?


@CH-7-Mission-Accomplished wrote:

Definitely don't geta rooms to go card wtih scores that high.  They would charge you 28% interest on your furniture purchase?

 

Not sure how thick your file is, how old your credit is and what your income is, but you could probably get a high limit credit union card from NASA or Penfed or DCU or Alliant or others and all of them would be around or under 10% interest rate.

 

People with 800 credit scores simply don't need store cards.  Honestly go for quality!  You are waaaaayyyyyy past needing the shopping card trick for a VS card!!


I concur CH-7-Rebuilding.

Message 22 of 29
Anonymous
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Re: All FICOs are > 800 now what? Thinking another store card? Rooms to go?


@Anonymous wrote:

Though I completely agree you should go for a prime card with no interest for x months, Ashley Furniture has 70 months no interest on purchases over $2999 until monday, that is a synchrony card, so if you think you would need longer to pay or need more than  1 or 2 things that may be an option (also most Ashley stores ofer 0% for 6, 12, 18, 24 and 36 months all the time depending on your purchase amount).  We don't have a rooms to go in my area but I would guess they have a similar option all the time.


You're correct. RTG usually offers similar, if not, the same financing offers. They have to stay competitive with the other furniture stores. However, the OP can also get 18 months with a prime card. Citibank Simplicity doesn't offer rewards, but they are currently offering 21 months at 0% interest. That's AWESOME!!! Plus it's an excellent balance transfer card. She/He gets 2 for the price of 1.

Message 23 of 29
Anonymous
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Re: All FICOs are > 800 now what? Thinking another store card? Rooms to go?


@gonzoflick wrote:

Thanks.  Ive been working hard for the past few years to get it where it is.

 

History is 13 years.  AAoA = 8years

Util is <10% always.


Awesome stats!!! Keep up the good work!!!

Message 24 of 29
Anonymous
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Re: All FICOs are > 800 now what? Thinking another store card? Rooms to go?


@gonzoflick wrote:

Also the reason for the RTG card was the 0% interest for like 4 years (I would only need a year to pay it off).  I spend mostly on groceries and gas, dont travel too often.  I only have the BoA prime rewards credit card so yea maybe another major card would help.  


Hey gonzoflick!!! If you're sure that you will PIF the balance in 1 year, then IMHO, I think would go with a prime card. The Citibank Double Cash credit card offers 2% cash back on ALL purchases. 1% when you make a purchase and another 1% after you make a payment. You will need to allow a statement to generate every month and make sure you pay, at least, the minimum each month. I don't see that being a problem for you since your current goal is to PIF your balance in 1 year. They are also offering 0% interest for 18 months on all Ipurchases and balance transfers. I hope this helps. Good luck!!!

 

Message 25 of 29
Anonymous
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Re: All FICOs are > 800 now what? Thinking another store card? Rooms to go?

Try something with extended 0%. I'm not sure if Chase is still doing 0% for 15 months or not.
Message 26 of 29
Anonymous
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Re: All FICOs are > 800 now what? Thinking another store card? Rooms to go?


@degs138 wrote:

It really depends on your home loan timeframe.  If you're going to buy something in the next 2-3 months then don't do anything until you sign your mortgage.  As soon as you sign the mortgage apply for several credit cards and 0% finacing at furnature stores.

 

If you need time to save up and are looking at more than a 6 month window I would apply for a store credit at HOM furnature.  It also wouldn't hurt to get a credit card with a bank you are thinking of using for your home loan so you can start showing a history with them.


You make some good points degs138. I totally forogt to ask when she/he would be apping for a home loan. That is an extremely important question.

Message 27 of 29
Anonymous
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Re: All FICOs are > 800 now what? Thinking another store card? Rooms to go?


@gonzoflick wrote:

Thinking probably 6 month timeframe on the mortgage.  Gotta get in there before the Fed raises rates which will be June-September timeframe.  I was going to do mortgage though my school federal CU as they have insanely low rates.  Maybe i apply for a CC from them in the meantime.  We can use my wifes Macys card for no interest on the furniture.


Using an exisitng account is always an option. Then there won't be an impact on your scores. Why not wait until after you buy your house? Then you can have the furniture delivered to your new home. It will be less work for you on both the front and back end. Less things for you to have to pack at your current place and less things for you to have to unpack in your new home. IMHO, I would wait. Packing and unpacking is a pain in the you know what... IJS

Message 28 of 29
Anonymous
Not applicable

Re: All FICOs are > 800 now what? Thinking another store card? Rooms to go?


@gonzoflick wrote:

So here is my wallet

 

Mobile Gas card=$1.5k

Home Depot = $6k

Bank of America Rewards Visa = $7.5k

 

EQ=820  TU=810  EX=824

 

No mortgage.  14 installment loans (student loans)

 

What should I do next?  I am saving for a house but in the mean time I need some new furniture and was thinking about opening a Rooms to go card.  1) because i need the furniture and 2) i was thinking the added credit limit would help (currently only have $14k total).

 

What would you all do?


C O N G R A T U L A T I O N S on achieving 800+ FICO scores!!!!!

Message 29 of 29
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