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Contributor
Posts: 98
Registered: ‎02-28-2008
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Another card or wait a year?

[ Edited ]
I've opened 5 new cards this year:
 
AMEX Green
AMEX Delta Gold Skymiles
Chase United Mileage Plus Visa
Hooters MC
Wamu Visa
 
All of my FICO reports show "BAD" for the amount of new credit (duh!) - but should I bit the bullet and get one more (I am interested in a Citi HHonors) and then let them all age? I don't want need any more after that.  Or should I let the new cards age and get the Citi next year (at which point I'll have "new" credit once again)???
 


Message Edited by techno-pagan on 06-03-2008 06:59 PM
TU (3/30/09): 771
EQ (3/30/09): 751
EX (5/19/08): 715
Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
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Re: Another card or wait a year?

I would say bite the bullet and app for it. If you get it then you are all set. If you dont get it then wait for a 6 months and then apply. That way you can put your mind at peace. Go for it and be done with it.
Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
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Re: Another card or wait a year?

IF you are satisfied with the limits wait till next year. Which doesn't belong and why? Where did the Hooters card come from? :smileyhappy:
Contributor
Posts: 98
Registered: ‎02-28-2008
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Re: Another card or wait a year?



smallfry wrote:
IF you are satisfied with the limits wait till next year. Which doesn't belong and why? Where did the Hooters card come from? :smileyhappy:

I am satisfied with my limits - I have plenty of credit and only 1% utilization.
 
I'd like to get a HHonors reward card and do not want another AMEX (plus there is no annual fee on the Citi).
 
As for the Hooters - well my scores were 100 points lower when I applied and I wanted a Mastercard and the talk was all about the great limits they were handing out.  Well I got a $500 limit :smileysad: so it has been underwear drawered (not even worthy of the sock drawer).
 
It has not annual fee so it is not likely to see the light of day any time soon :smileymad:

 
TU (3/30/09): 771
EQ (3/30/09): 751
EX (5/19/08): 715
Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
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Re: Another card or wait a year?

Not a popular opinion around here but I would close the Hooters. Doesn't do you any good and there is the possibility future lenders might skimp on credit limits if they see a low limit card like that.
Contributor
Posts: 98
Registered: ‎02-28-2008
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Re: Another card or wait a year?

Hmm, I'll have to consider closing the Hooters - my plan was to just file it away and see if the game me a CLI after 6 months (Aug/Sept).

It really does me no good I guess - but since there was no annual fee I wasn't really concerned.

Thanks for the input!
TU (3/30/09): 771
EQ (3/30/09): 751
EX (5/19/08): 715
Valued Contributor
Posts: 1,986
Registered: ‎08-17-2007
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Re: Another card or wait a year?

[ Edited ]
i don't understand the low limit on hooters with your scores.  I would dump it and get a prime card.  I don't know if Merrick Bank is still doing Hooters or if it's Millenium bank  but neither one are very good.
What about BofA or a good Credit Union?


Message Edited by casinoannie97 on 06-04-2008 08:20 AM
Contributor
Posts: 98
Registered: ‎02-28-2008
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Re: Another card or wait a year?



casinoannie97 wrote:
i don't understand the low limit on hooters with your scores. I would dump it and get a prime card. I don't know if Merrick Bank is still doing Hooters or if it's Millenium bank but neither one are very good.
What about BofA or a good Credit Union?


Message Edited by casinoannie97 on 06-04-2008 08:20 AM




My only real desire is the Citi HHonors card - I don't really need any more credit but I would like to add to my HHonors points (and not have to worry about the expiration when I am not staying at a Hilton for an extended period).

The low CL on the Hooters was due to my scores being about 100 points lower at the time I applied - my "desire" for a Mastercard - and my anticipation of a larger CL based on what I read here. Unfortunately I applied right when they were tightening things up and I got a crappy CL.
TU (3/30/09): 771
EQ (3/30/09): 751
EX (5/19/08): 715
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