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Member
Posts: 16
Registered: ‎08-14-2012
0

Best Chance to Get Another Card

[ Edited ]

I'm looking at applying for a few cards but I'm not sure what I can get. 

 

If I shoot high and don't get approved can I call and have them reconsider me for a lower tier card without another credit pull? I don't want to go on a spree and have too many inquiries.  I'd like to keep it to 2-3 total and I want to get two decent limit cards right away.

 

I'd love to get some of the great prime credit cards but I'm afraid that I probably won't be able to until the 3 baddies drop off in a year.  In the mean time I'd like to do what I can to get my credit in the best shape possible and graduate to the higher limit cards with no fees and good rewards (e.g. cash back or airlines). 

 

If I can get a good cash rewards or points card then I'd be willing to take on a fee but otherwise I want a no fee card.

 

I currently have the following:
- 3 baddies (Charge Offs) - 6+ years old (I can't wait til they fall off!).  9 Months left to go.
- 1 low limit Orchard Bank account (now Cap One)
- Student loans in good standings
- 1 Auto Loan (Paid 2 years ago)

- FAKO 700 - 730 across all 3

- Average age of accounts is 8 years

 

Goals in the next 1 - 1.5 years:
- Mortgage
- 2-3 high limit credit cards

Things to avoid:
- Anything that will negatively affect my credit for more than 1-3 months
- Chase, Wells Fargo

 

Thanks.

 

Established Contributor
Posts: 760
Registered: ‎02-11-2012
0

Re: Best Chance to Get Another Card

If you haven't pulled A True Fico Score lately then you are probably somewhere in the six hundreds.(I would do that to see truly where you stand.)  Marginal for most prime credit cards. My sugesstion would be to garden. That is wait until you have more payment history with your current line up and until all of your baddies fall off. It will be almost impossible to get a prime card if you show any collections or charge offs. AS always, YMMV, best wishes on your improvements.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Member
Posts: 16
Registered: ‎08-14-2012
0

Re: Best Chance to Get Another Card

I did pull a true Fico score from here 3 months ago.  It came in at 685 but I pulled one baddy off since then that helped.

 

I don't want to garden anymore.  I've been gardening **bleep** CC and I'm tired of the monthly fee and low $550 limit.

 

I want at least one (preferrably two) cards with at least $2500 and the possibility to grow so that I can kick this Orchard Bank card to the curb.  I'd consider a less than ideal prime card so long as it can grow to a descent limit and doesn't have a fee attached.

Established Contributor
Posts: 560
Registered: ‎09-29-2012
0

Re: Best Chance to Get Another Card

If Orchard is charging you a Monthly Fee with that low CL, then I would cancel right now.

 

 

You don't need an active CC in order to get another CC  -- prime or otherwise.

 

 

If you don't need the credit (i.e. if you don't need to float your purchases) with Orchard, then why keep them any longer?

New Member
Posts: 4
Registered: ‎11-07-2012
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Re: Best Chance to Get Another Card

Good day to all

 

I am in the process of re-building and it's been a long journey. I started with a score at around 543 and I am now up to 664(EQ), 665 (EX), and 650(TU). I recently received an offer **bleep** form them. MY question is anyone got any insight as to what my chances are for getting approved for the AMEX PFG. I have one Capitol one card with a 700 CL and 0 balance (which has been paid on time for the past year), no other debt whatsoever, and a very high annual income, 150,000+. If I do not get approved for the AMEX PFG would it be wise to take the USAA offer and will they approve me even since they sent me the offer. As I stated earlier I have a few late payments on my report plus the paid collections and closed account still showing a balance.

 
Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

Re: Best Chance to Get Another Card

You can find an AMEX to app for.

Also, the US Bank Cash+ card. They will likely give you a basic cash rewards card instead.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


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Member
Posts: 16
Registered: ‎08-14-2012
0

Re: Best Chance to Get Another Card

[ Edited ]

ccnewcc wrote:

If Orchard is charging you a Monthly Fee with that low CL, then I would cancel right now.

 

 

You don't need an active CC in order to get another CC  -- prime or otherwise.

 

 

If you don't need the credit (i.e. if you don't need to float your purchases) with Orchard, then why keep them any longer?


 

I do actually have a need for a credit card.  I do lots of shopping online. I occasionally need it for things like car rentals and hotel reservations, among other things.   This stuff is hard to impossible with my current crappy Orchard card.

 

I'd like one card that I could put all my monthly bills through but I'd need at least a $3,000 card for that.  Right now I'm using my debit card for most things.

Member
Posts: 16
Registered: ‎08-14-2012
0

Re: Best Chance to Get Another Card

Also, I didn't get an answer to my original question.  Can someone provide a good answer?

 

If I shoot high and don't get approved can I call and have them reconsider me for a lower tier card without another credit pull?

 

I don't want to go on a spree and have too many inquiries.

Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Best Chance to Get Another Card

I suggest an amex charge card... its a great tool to have: and amex considers your income... the fact that you have old baddies shouldn't hurt you; as I had some old baddies and I was approved.

If you are approved for amex I then suggest you go for discover... BOA 123 isn't a bad card either.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Member
Posts: 16
Registered: ‎08-14-2012
0

Re: Best Chance to Get Another Card


webhopper wrote:
I suggest an amex charge card... its a great tool to have: and amex considers your income... the fact that you have old baddies shouldn't hurt you; as I had some old baddies and I was approved.

If you are approved for amex I then suggest you go for discover... BOA 123 isn't a bad card either.

I checked out NerdWallet.com for recommendations and they thought that I could get either of the following:

Capital One® Cash Rewards - $100 Cash Back Bonus - No annual fee

Citi® Dividend Platinum Select® Visa® Card - $100 Cash Back- No annual fee

American Express Clear - No annual fee

 

Do these sounds like possibilites?

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