Apply for credit limit increase or new card

[takeshi74]

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@Anonymous wrote:

I need like 15k for some house repairs and home equity loan is not an option.

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We really can't tell you which would yield you the most available credit.  It all depends on your credit profile and income versus the creditor/product's underwriting criteria.  We don't know the specifics of the latter for any creditor/product.

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@Anonymous wrote:

I currently have 3 fairly new cards (Macy's $800 1mth, BJ'sPerks $3500 3mths, Discover IT $800 3 mths), score is up to 680 from 620 in December.

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If you have that much recent activity with low limits like that and scores like that then you should probably avoid more credit seeking activity.  You can certainly see if you can get any CLI's based on soft pulls but don't expect too much based on what you've provided so far.

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@Anonymous wrote:

Would having that money in the bamk help? Would they even look at that?

No.  Again, it's your credit profile and income.  Profile includes your recent activity.

[Anonymous]

So I went ahead and applied for Capital One Quicksilver.....denied.

That really really sucks. Looks like I am going to have to go the personal loan route, hope that didn't hurt my score too much. Unreal.

[Anonymous]

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@takeshi74 wrote:

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@Anonymous wrote:

I need like 15k for some house repairs and home equity loan is not an option.

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We really can't tell you which would yield you the most available credit.  It all depends on your credit profile and income versus the creditor/product's underwriting criteria.  We don't know the specifics of the latter for any creditor/product.

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@Anonymous wrote:

I currently have 3 fairly new cards (Macy's $800 1mth, BJ'sPerks $3500 3mths, Discover IT $800 3 mths), score is up to 680 from 620 in December.

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If you have that much recent activity with low limits like that and scores like that then you should probably avoid more credit seeking activity.  You can certainly see if you can get any CLI's based on soft pulls but don't expect too much based on what you've provided so far.

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@Anonymous wrote:

Would having that money in the bamk help? Would they even look at that?

No.  Again, it's your credit profile and income.  Profile includes your recent activity.

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mr positivity again. 

look, it's true we can't answer all questions to determine what's best for someone but people ask to get a general consensus. 

OP sorry for the denial but don't let it bug you. look at the denial reasons and fix them to better your chances in the future. their denial reasons will likely fall parallel with other lenders' reasons as well. 

[FinStar]

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@Anonymous wrote:

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@takeshi74 wrote:

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@Anonymous wrote:

I need like 15k for some house repairs and home equity loan is not an option.

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We really can't tell you which would yield you the most available credit.  It all depends on your credit profile and income versus the creditor/product's underwriting criteria.  We don't know the specifics of the latter for any creditor/product.

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@Anonymous wrote:

I currently have 3 fairly new cards (Macy's $800 1mth, BJ'sPerks $3500 3mths, Discover IT $800 3 mths), score is up to 680 from 620 in December.

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If you have that much recent activity with low limits like that and scores like that then you should probably avoid more credit seeking activity.  You can certainly see if you can get any CLI's based on soft pulls but don't expect too much based on what you've provided so far.

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@Anonymous wrote:

Would having that money in the bamk help? Would they even look at that?

No.  Again, it's your credit profile and income.  Profile includes your recent activity.

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mr positivity again. 

look, it's true we can't answer all questions to determine what's best for someone but people ask to get a general consensus. 

OP sorry for the denial but don't let it bug you. look at the denial reasons and fix them to better your chances in the future. their denial reasons will likely fall parallel with other lenders' reasons as well. 

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While his answers and format appear to bother you, you don't have to comment or respond to what he's posted.  We're all adults here, I hope.

Yet, I fail to see how Takeshi is providing any ill advice.  I just view it from a different perspective and you are aware you can skip the comment.  I can't speak for him but maybe his approach is more of a "realist"/"dont beat around the bush" kinda thing?  That's just his style but I don't see how his opinion is violating TOS/FSR or forum rules.

[Anonymous]

wellllll it's one thing to say it when appropriate but that's the only kind of posts made. always says the exact same thing to every single person... it's okay to have a custom answer vs just saying the same exact thing to every poster that asks a question. i can understand the points made, and while sometimes agreeable, i just don't understand why there's never ambition to help; just tell people to make their own choices.

sure, we're all responsible for ourselves but it's like saying "google it" if someone wants a little guidance. i feel like this should be a community to help, not just tell everyone the same thing that doesn't help anyone.

[FinStar]

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@Anonymous wrote:
wellllll it's one thing to say it when appropriate but that's the only kind of posts made. always says the exact same thing to every single person... it's okay to have a custom answer vs just saying the same exact thing to every poster that asks a question. i can understand the points made, and while sometimes agreeable, i just don't understand why there's never ambition to help; just tell people to make their own choices.

sure, we're all responsible for ourselves but it's like saying "google it" if someone wants a little guidance. i feel like this should be a community to help, not just tell everyone the same thing that doesn't help anyone.

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All he's doing is providing his opinion on the topic.  This isn't rocket science.  And, while we all do our best to contribute and help other members from all walks of life, there isn't always going to be a cut and dry answer for everything and that includes the comeents he's made on other threads.  I have read a variety of his previous posts where he has provided solutions and his own experiences and members have thanked him for that.

Bottom line, he's not violating anything as far as I can see.  Not everyone is going to be fond of your opinions and likewise from other members or mine.  At the end of the day, this is an internet forum with a collaborative set of experiences that everyone provides so that others can learn and hopefully pay it forward.

[Anonymous]

agreed

[SunriseEarth]

While it's important to encourage FSR responses in the Forums, let's also be careful to remain on-topic.   Posts regarding another member's style of posts are off-topic.  If you find a post to be objectionable or not in accordance with Forum TOS or Guidelines, please use the "Report Inappropriate Content" option for Moderator review. 

It may be worth mentioning that text--without benefit of vocal tone or gesture--can often appear more frank or curt than intended.   This is a common issue in this type of Forum.   

[SunriseEarth]

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@Anonymous wrote:

I currently have 3 fairly new cards (Macy's $800 1mth, BJ'sPerks $3500 3mths, Discover IT $800 3 mths), score is up to 680 from 620 in December. Charged about $1100 on Discover so far paid it all off (one time I was right at limit too), Macy's about $300 paid off, and BJ's about $2500 paid off all but $50 so far.  Would you recommend maybe trying to get a limit increase on like the Discover, or just applying for a new card? I was thinking of applying for a Sun Trust card, that is where my business checking account is (and has like 4k in it and a good amount of money flowing through regularly) but didn''t know if banks like that were stricter with their qualifications. Would having that money in the bamk help? Would they even look at that?

I will probably definitely qualify for a new card with at least a couple thousand, just wondering which is best way to go -  limit increase or new card altogether.

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I think you should request a CLI on your Discover, since it's SP (they do HP CLIs on occassion, but only with your consent).  Macy's CLIs are HP, but the odds are good on those.  IMHO, I think it's better to build on what you have for now, since the CCs are all very new.   Once they've aged a bit and your profile has improved, your approval odds for a new card might be better.

I'm not sure how SunTrust is, but you may want to check the applications forum to see member experience with their cards.  

[Anonymous]

I don't know why someone who give advice to apply for the quicksilver with a score under 700. Under 700, the prime cards are out IMO.