I travel a lot for work and spend 5-7$/month on travel and dining. I honestly didn't know for the past few years what I was missing with rewards and recently came into sign with what that was all about...
So... about my credit:
before my app yesterday, 744 Myfico 750 CK
Before yesterday about 12% utilization, I pay it off each month, but it reports with some of my expenses on it, normal I'm sure.
Highest CL as AU: 10k BoA
highest CL as me: 8k (before yesterday)
2 Auto Loans (one will report as paid off next month from a trade-in): 55k balance
47k student loans (APR is so low I let these slide.. consolidated 10 years ago)
AAoA 4 years 7 month
Oldest Account: 15 years
1 Deliquency (4 years 10 months ago.. just a mistake, auto pay since then) 30 days
So anyway, I app'd yesterday and got instant approval for Chase Sapphire Preferred at 17,000 CL. I don't need more CL, but worth asking for it?
I don't need another card but worth app'ing for one?
In other words, is there benefit for me taking the score hit right now for new accounts and apps on 1 or 2 other cards to get the CL even though I don't need them, to have them?
My goal for all of this is:
Keep my score high, or go higher over the next 12-18 months as I'll probably buy another home in late 14 or 15 and don't want any apps close to that. I don't need the CC now - and I can't fathom I would then, but... while I can plan in advance... what is the best move, credit experts?
How many cards do you have total? The are many more knowledgeable than me here, but it wouldn't hurt to have 1-2 other cards (think Discover It for 5% back on restraunts for 1st quarter '13 as an example) that lets you pick bonus cashback (5-6% on a few IIRC) categories such as travel/dining.
BoA AU (wife's card) 10k
MBNA (oldest card) 2.5k
Discover Card 2k
Best Buy 2.5k
I previously used the CapOne as my card and as you can tell... never really asked for an CLIs... and actually a few of my dormant accounts saw big drops in 2008 as part of that whole CCs being more conservative thing.