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Ok, so as Nixon and I mentioned above, if no SP CLI is available on your account, then you can decide whether the HP is worth it... but make it count when you submit the request. If your request is not instantly approved or declined, then speak to a UW analyst to re-review what you submitted.
Ok so let me ask you this:
If it has to be a HP, would it be worth trying the HP vs. apping for a different card? OR wait it out another 6 months and re-evaluate?
*Main goal is to have a card with at least a 3k limit that I can just pay all of my bills with every month and then pay the card (hopefully earning points/miles). I work on commission and only get paid when transactions close. I obviously always try to have something in the pipeline but the amounts vary wildly. If I can buy myself another 30 days or so, then I'll never be late on paying a bill and still never have to pay interest. Worst-case scenario, I pay a little interest but at least I would never have a late payment!
@Section700 wrote:Ok so let me ask you this:
If it has to be a HP, would it be worth trying the HP vs. apping for a different card? OR wait it out another 6 months and re-evaluate?
*Main goal is to have a card with at least a 3k limit that I can just pay all of my bills with every month and then pay the card (hopefully earning points/miles). I work on commission and only get paid when transactions close. I obviously always try to have something in the pipeline but the amounts vary wildly. If I can buy myself another 30 days or so, then I'll never be late on paying a bill and still never have to pay interest. Worst-case scenario, I pay a little interest but at least I would never have a late payment!
Well, it can go in either direction. You're really short $1,500 from $3K on your Barclays. You can take the HP now and see if you can get their UW team to reconsider their decision in the event it's not approved for the full $3K (maybe you get approved for $3K or higher), or you can use the cautionary approach to wait as your overall profile ages/score improves and give it a shot in 3-6 months. It really hinges on your current financial needs and really up to you.
High util, about 50%, for these scores. I'll pay everything down and see where its at.
Thx for your input!
@Section700 wrote:High util, about 50%, for these scores. I'll pay everything down and see where its at.
Thx for your input!
Yes, definitely get that utilization down to a decent level. At least 30% to be within an appropriate range, but the lower the better.
Understood. Even 2500 would be enough for now. Really looking to do this now going into winter since that is the slow time of year for me. I have a decent reserve built up so maybe I'll just chill until next fall or something...
I'm getting antsy since I really have nothing to do but build my limits. Already have my mortgage and don't plan to have another car payment as it will go under the company whenever that time comes.
Thx for your input!
@Section700 wrote:Understood. Even 2500 would be enough for now. Really looking to do this now going into winter since that is the slow time of year for me. I have a decent reserve built up so maybe I'll just chill until next fall or something...
I'm getting antsy since I really have nothing to do but build my limits. Already have my mortgage and don't plan to have another car payment as it will go under the company whenever that time comes.
Thx for your input!
Best of luck either way. If you decide to take the plunge anytime soon, be sure to report back so that others who may have similar situations may benefit from your results.