Reply
Contributor
westcoastpirate
Posts: 78
Registered: ‎11-14-2012

Best Way to Use New TLs

[ Edited ]

Hi everyone!  Longtime lurker and somewhat recent poster.  I burned a lot of CCCs through my youth which really effected my ability to secure credit.  Based on the advice I read off this forum, I used a secured card and a Target Card over the past couple years to move my CS upward while the baddies on my CR fell off.  November hit and I applied for 3 cards throughout the month and was approved for all 3!!!  I couldn't believe it!  Now that I have 3 new TLs to add to my current report, my plans are below along with embedded questions:

 

  • AMEX BCE-approved Nov 30th, $2K CL, going to use as my primary card going forward, will request 3x CLI at 61 days, going to request backdating to my first AMEX in early 2000s, wondering if I can call CSR to activate and request this be changed to BCP before activation?
  • AMEX Green-approved Nov 30th, going to ask for backdate to my first AMEX from early 2000s, will close after 1 year when the annual fee hits, this card will get minimal, if any use, also wondering if I can request to have this changed to Gold by calling CSR at activation?
  • Barclays Apple-approved Nov 15th, $3,700, currently using as my primary card, but activity will end and PIF when the BCE is activated and will be my backup card, wondering when I should initiate a CLI since I just opened 2 new cards?  I was going to sit on a request for at least 6 months since I read Barclays is app sensitive and the CLI request would most likely be a HP if I initiated it
  • Secured Visa-$1K CL, will close this once I get approved for a CLI on the AMEX, opened in Jan 2011
  • Target RedCard-$700, opened in August 2011, also have DW added as AU this past summer, keeping this one open since DW primarily shops at Target for household items/cosmetics/non food basics and the 5% off is great

Other than keeping my UTL under 9% across the board, let me know if there are other gardening tips you might have for using my new mix of TLs.

 

Valued Contributor
trumpet-205
Posts: 1,945
Registered: ‎11-11-2010

Re: Best Way to Use New TLs

[ Edited ]

* You cannot PC BCE (no AF) to BCP (AF) until you have the card for 12 months. This is related to CARD Act and no way around it.

* Yes you can PC Green to Gold.

* Wait until 6 months, Barclays is extremely INQ and account sensitive. Be warned that Barclays may come after you for opening BCE and Green.

In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | BofA Travel Rewards (07/2011) | Chase Freedom (11/2011)
GECRB/PayPal (05/2012) | Discover it (07/2012) | US Bank Cash+ (08/2012) | AMEX BCE (09/2012)
Target (10/2012) | Chase Ink Classic (11/2012) | BofA Balance Rewards (04/2013) | FNBO/Overstock (02/2014)
Contributor
westcoastpirate
Posts: 78
Registered: ‎11-14-2012

Re: Best Way to Use New TLs

[ Edited ]

trumpet-205 wrote:

* You cannot PC BCE (no AF) to BCP (AF) until you have the card for 12 months. This is related to CARD Act and no way around it.

* Yes you can PC Green to Gold.

* Wait until 6 months, Barclays is extremely INQ and account sensitive. Be warned that Barclays may come after you for opening BCE and Green.


Thanks for the advice, I will call AMEX and see about the Green to Gold.  The only reason I asked about changing BCE to BCP because the BCE has no AF and the BCP has a promotional no AF for the first year right now, and maybe I can sidestep the CARD act since technically both AFs are the same right now?

Valued Contributor
trumpet-205
Posts: 1,945
Registered: ‎11-11-2010

Re: Best Way to Use New TLs

Promotional AF is for new account, when you PC promotional offer doesn't apply because you are not opening a new account.

In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | BofA Travel Rewards (07/2011) | Chase Freedom (11/2011)
GECRB/PayPal (05/2012) | Discover it (07/2012) | US Bank Cash+ (08/2012) | AMEX BCE (09/2012)
Target (10/2012) | Chase Ink Classic (11/2012) | BofA Balance Rewards (04/2013) | FNBO/Overstock (02/2014)
Contributor
westcoastpirate
Posts: 78
Registered: ‎11-14-2012

Re: Best Way to Use New TLs

FYI, I spoke to the EO this morning.  You cannot upgrade accounts for 13 months, but he said I could apply for the PRG and still get the promotions so currently having a Green won't affect this since they are separate cards.  I asked if it would be another HP if I applied or if they could use the one from last week, and he checked with new accounts and said it would most likely be another HP.  I just rolled the dice and applied for PRG after I spoke with him and was instantly approved and my card should arrive in 1-3 calendar days.  I'm crossing my fingers they used the prior CR!  :smileytongue:


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+