02-11-2013 06:07 AM
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?
02-11-2013 06:18 AM
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.
02-11-2013 06:21 AM
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.
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