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Best Credit Card to apply for with PIF Collections

Frequent Contributor

Best Credit Card to apply for with PIF Collections

I recently sold my house as I am moving to Switzerland with my wife. I have 2 collections that are still on my Credit reports and have been paid in full but still are not marked that way. I tried upgrading my Chase Freedom to a Chase Sapphire to get declined because of the collections. Only 1 hard inquiry in 2 years though because of that. I want to know what my plan of attack should be. She has onlly one CC...a capital one venture card that I just helped her pay down to $650 with a $3500 CL. should she add me? she was just upgraded to the Venture One card. How long should she wait to CLI? We are in a predicament as we need to purchase plane tickets for our move to switzerland and we wanted a card that would give us rewards in miles which the venture one does, but I don't want her adding me as an authorized user if she doesn't do a CLI because the plane tickets will put her balance up to $3000 on a $3500 card. Any words of advice? We have enough to pay in cash, we were just looking for the rewards and a little extra cash as we embark on this new adventure. Should she wait a month til her Utilization goes below 30% she has a 729 FICO. My scores are below.

FICO 8 Scores: EX 706 (11/3/2016) EQ 696 (11/17/16) TU 708 (11/17/2016)

"Use your Credit wisely, don't let it use you!"~Me Smiley Very Happy

Message 1 of 9
8 REPLIES
Moderator

Re: Best Credit Card to apply for with PIF Collections

Moved to CC forum. First thing is get the collections reporting as paid.
"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

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- Rhonda Byrne
Message 2 of 9
Moderator

Re: Best Credit Card to apply for with PIF Collections


MugenCivicSi83 wrote:

I recently sold my house as I am moving to Switzerland with my wife. I have 2 collections that are still on my Credit reports and have been paid in full but still are not marked that way. I tried upgrading my Chase Freedom to a Chase Sapphire to get declined because of the collections. Only 1 hard inquiry in 2 years though because of that. I want to know what my plan of attack should be. She has onlly one CC...a capital one venture card that I just helped her pay down to $650 with a $3500 CL. should she add me? she was just upgraded to the Venture One card. How long should she wait to CLI? We are in a predicament as we need to purchase plane tickets for our move to switzerland and we wanted a card that would give us rewards in miles which the venture one does, but I don't want her adding me as an authorized user if she doesn't do a CLI because the plane tickets will put her balance up to $3000 on a $3500 card. Any words of advice? We have enough to pay in cash, we were just looking for the rewards and a little extra cash as we embark on this new adventure. Should she wait a month til her Utilization goes below 30% she has a 729 FICO. My scores are below.


If you can pay cash for the tickets, what difference does it make if her balance goes up to $3000 on a $3500 limi?.  You can pay the balance down very quickly so it wont hurt her scores for that long.

Message 3 of 9
Frequent Contributor

Re: Best Credit Card to apply for with PIF Collections

Thanks! I'm waiting til the end of the month because that would have been a full month that they should be updated. They've been updated today on Experian. 1 was removed. only 1 left! my EX score went up to 698 today but my Util is at 37% but should report at 20% end of this month so that should drive my score into the 700's and hopefully then I can upgrade to the Chase Sapphire card as it has no international fees. Does anyone have experience with Chase Freedom to Chase Sapphire upgrade? I know a $5,000 CL is required but I only have $2,000 on my freedom with a $0 balance, so they'll have to do a HP....any advice is much appreciated.

FICO 8 Scores: EX 706 (11/3/2016) EQ 696 (11/17/16) TU 708 (11/17/2016)

"Use your Credit wisely, don't let it use you!"~Me Smiley Very Happy

Message 4 of 9
Frequent Contributor

Re: Best Credit Card to apply for with PIF Collections

Irish80, we are both new to building our credit the right way. We also know that we are moving to Switzerland in 2 months. We want to make sure we don't need to dip into our funds immediately upon arrival and we don't want to put the tickets on the card as soon as she gets it because then her Credit util will be too high for her to CLI from $3500 up. she has a 735 score across the boards with only one other tradeline, a car payment. I just paid her credit card down to a 15% credit util from a 50%. We want to wait til it hits all CRA's and then either CLI or app for another CC like Chase Sapphire. End of this month, i'll have a baddie coming off all my reports which should shoot my score into the 720-740 range. we both have a AAoA of about 3.8 years which is not helping us. I just paid off my mortgage and car loan. Bought my house in 2013 and sold for our move to Switzerland. She's from there. She has a US Green card. We are looking for some wisdom as to what our options are.

 

1) Should she CLI once her util is under 20%, or should she App for another card with no FTF's?

2) If she apps for another card, what would be her best option with only 2 TL's, 735 score across the board, Venture One Card (just upgraded), GE Car Loan

 

Thanks in advance!

FICO 8 Scores: EX 706 (11/3/2016) EQ 696 (11/17/16) TU 708 (11/17/2016)

"Use your Credit wisely, don't let it use you!"~Me Smiley Very Happy

Message 5 of 9
Valued Contributor

Re: Best Credit Card to apply for with PIF Collections

You might want to take a look at the Barclay's Arrival + card.  It offers a good sign-on bonus and you should be able to come close to meeting the minimum spend with your plane ticket purchase.  It also has no FTF which seems to be something you're looking for.  After a year, if you don't like paying the AF, you could try downgrading to the regular Arrival.

 

Barclay's is inquiry and new account sensitive, which isn't a problem for you based on your description.  They do seem to be willing to issue cards to people who have a few stumbles on their credit reports, and they are very good with recon if you don't have too many new accounts or inquiries.

Message 6 of 9
Frequent Contributor

Re: Best Credit Card to apply for with PIF Collections

Which bureau does Barclay pull?
Message 7 of 9
Frequent Contributor

Re: Best Credit Card to apply for with PIF Collections

Good question Asgardian! I'm not sure.

FICO 8 Scores: EX 706 (11/3/2016) EQ 696 (11/17/16) TU 708 (11/17/2016)

"Use your Credit wisely, don't let it use you!"~Me Smiley Very Happy

Message 8 of 9
Community Leader
Valued Contributor

Re: Best Credit Card to apply for with PIF Collections

Barclays is a TU puller in most instances.
Message 9 of 9