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Contributor
Posts: 167
Registered: ‎07-13-2011
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Could really use some advice... Please help!

Hello everyone... I'll keep this as short as possible but could use some help...

 

 

So technically, I guess I'm still in the rebuilding stage but finally hit primeville 3 months ago with my BCP and Freedom. I still haven't gotten to my target goal of 740+ but getting close.

 

 

Here is my situation... If anybody has seen some of my other posts, I have limited my self to 3 (maybe 4) prime cards and NO MORE! Just to make sure I can stay on top of everything and manage them well but still keep them in good heavy rotation.

 

 

So I got my BPC and my Freedom and they get heavy use. I have not used either of my Cap1 cards and they are getting close to their AF so I will be canceling both. Here is where my big problem is:

 

 

This will be the first month I will carry a balance and won't be able to PIF. This is due to some unfortunate isses... Car repairs of over $600, Driving violation of $400, and financed a new fridge $1600 and other small appliances of $600+

 

 

Paying these won't be a problem, should be completely paid off by March maybe April and I'm in the 0% financing on both of these cards. But of course, this WILL raise my UTL to about 30-35% which will drop my score. I would like to apply for a new cards before these post so that my UTL won't be so high and take advantage of my current scores (in my siggy).

 

 

Here are the cards that I narrowed down below (from a previous thread):

 

US BANK Cash+ - I don't think I can get this card yet, still in the low 700s and I've heard this one is hard.... so this one may have to wait

Chase Sapphire (maybe preferred) - This one will also be very tough, I had to recon my freedom due to a prior C/O of a wamu account.

Citi Thank you preffered - This seems the most likely to approve me, what do you guys think?

Cap1 Venture card - Not sure if I want to stik with Cap1?

 

I hope this is not frowned upon (applying prior to larger balances posting)... But I think I should pull the triger today before the balances post to maximize my approval chances.

 

 

Do you guys think, with my info below that I'll qualify?  

Fico Scores: TU 734 (08/12/2012) and EQ 716 (12/08/2012)

AMEX BCP $10,000 (opened 09/2012) - Citi TYP $6500 (opened 12/2012) Chase Freedom $1500 (opened 09/2012)

GMAC Mortgage $181,000 (opened 07/2011) - Car Loan $18,000 (opended 01/2011)
Valued Contributor
Posts: 1,919
Registered: ‎11-17-2012
0

Re: Could really use some advice... Please help!


irving_magik wrote:

Hello everyone... I'll keep this as short as possible but could use some help...

 

 

So technically, I guess I'm still in the rebuilding stage but finally hit primeville 3 months ago with my BCP and Freedom. I still haven't gotten to my target goal of 740+ but getting close.

 

 

Here is my situation... If anybody has seen some of my other posts, I have limited my self to 3 (maybe 4) prime cards and NO MORE! Just to make sure I can stay on top of everything and manage them well but still keep them in good heavy rotation.

 

 

So I got my BPC and my Freedom and they get heavy use. I have not used either of my Cap1 cards and they are getting close to their AF so I will be canceling both. Here is where my big problem is:

 

 

This will be the first month I will carry a balance and won't be able to PIF. This is due to some unfortunate isses... Car repairs of over $600, Driving violation of $400, and financed a new fridge $1600 and other small appliances of $600+

 

 

Paying these won't be a problem, should be completely paid off by March maybe April and I'm in the 0% financing on both of these cards. But of course, this WILL raise my UTL to about 30-35% which will drop my score. I would like to apply for a new cards before these post so that my UTL won't be so high and take advantage of my current scores (in my siggy).

 

 

Here are the cards that I narrowed down below (from a previous thread):

 

US BANK Cash+ - I don't think I can get this card yet, still in the low 700s and I've heard this one is hard.... so this one may have to wait

Chase Sapphire (maybe preferred) - This one will also be very tough, I had to recon my freedom due to a prior C/O of a wamu account.

Citi Thank you preffered - This seems the most likely to approve me, what do you guys think?

Cap1 Venture card - Not sure if I want to stik with Cap1?

 

I hope this is not frowned upon (applying prior to larger balances posting)... But I think I should pull the triger today before the balances post to maximize my approval chances.

 

 

Do you guys think, with my info below that I'll qualify?  


In order, out of the list you're likely to be approved by:

 

Citi ThankYou Preferred

Capital One Venture Card (as long as you've had a credit card or loan with a limit of $5000 or more for 3 years, which is their recommended likely to approval odds, but not necessarily a requirement. looks like you haven't met that yet, unless you have closed accounts in good standing on your report that met that requirement?)

Chase Sapphire, then Chase Sapphire Preferred, even with reconning

US Bank+ (think you'll definitely be turned down for it and given the regular cash rewards instead of you apply)

 

Best of luck!

Capital One Quicksilver World Mastercard $20k | JCPenney Gold $10k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $13.7k | Discover IT $14.5k | SavingStar American Express $14.8k | American Express BCE $11.3k

FICOS: EX 755 EQ 717 TU 746 VantageScore 3.0: EX 738 EQ 743 TU 745 Credit Sesame (EX) 745 Credit.com (EX) 794 CapOne (TU) 787
Contributor
Posts: 167
Registered: ‎07-13-2011
0

Re: Could really use some advice... Please help!

 


In order, out of the list you're likely to be approved by:

 

Citi ThankYou Preferred

Capital One Venture Card (as long as you've had a credit card or loan with a limit of $5000 or more for 3 years, which is their recommended likely to approval odds, but not necessarily a requirement. looks like you haven't met that yet, unless you have closed accounts in good standing on your report that met that requirement?)

Chase Sapphire, then Chase Sapphire Preferred, even with reconning

US Bank+ (think you'll definitely be turned down for it and given the regular cash rewards instead of you apply)

 

Best of luck!


  

     Thank you for the quick reply, I do have a feeling I'm most likely to get the Citi Thank you Card... do you think my scores  are good enough?

 

 

 

     A little more info to help: AAoA is over 7+ years..... no negatives/baddies in over 4+ years ( a string of 30 day lates in 2008 ) current Utily is below 10%

 

Fico Scores: TU 734 (08/12/2012) and EQ 716 (12/08/2012)

AMEX BCP $10,000 (opened 09/2012) - Citi TYP $6500 (opened 12/2012) Chase Freedom $1500 (opened 09/2012)

GMAC Mortgage $181,000 (opened 07/2011) - Car Loan $18,000 (opended 01/2011)
Valued Contributor
Posts: 1,919
Registered: ‎11-17-2012
0

Re: Could really use some advice... Please help!


irving_magik wrote:

 


In order, out of the list you're likely to be approved by:

 

Citi ThankYou Preferred

Capital One Venture Card (as long as you've had a credit card or loan with a limit of $5000 or more for 3 years, which is their recommended likely to approval odds, but not necessarily a requirement. looks like you haven't met that yet, unless you have closed accounts in good standing on your report that met that requirement?)

Chase Sapphire, then Chase Sapphire Preferred, even with reconning

US Bank+ (think you'll definitely be turned down for it and given the regular cash rewards instead of you apply)

 

Best of luck!


  

     Thank you for the quick reply, I do have a feeling I'm most likely to get the Citi Thank you Card... do you think my scores  are good enough?

 

 

 

     A little more info to help: AAoA is over 7+ years..... no negatives/baddies in over 4+ years ( a string of 30 day lates in 2008 ) current Utily is below 10%

 


Your scores do look good enough for Citi Smiley Happy they're a little more lenient than the other creditors you're going for! Even if they decline you, it may just be something on your report you have to recon. Many people have had success though reconning! Since your AAoA is over 7 years, you may have a good shot at the Venture card and Sapphires as well!

Capital One Quicksilver World Mastercard $20k | JCPenney Gold $10k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $13.7k | Discover IT $14.5k | SavingStar American Express $14.8k | American Express BCE $11.3k

FICOS: EX 755 EQ 717 TU 746 VantageScore 3.0: EX 738 EQ 743 TU 745 Credit Sesame (EX) 745 Credit.com (EX) 794 CapOne (TU) 787
Established Contributor
Posts: 504
Registered: ‎08-28-2012
0

Re: Could really use some advice... Please help!

I worry that Chase and US Bank will think you don't have enough history with a "signature" level limit to approve you.  I don't have experience with Citi.

 

Then again, I was approved for the CSP with a lower score and a little over two months history with my own $5k limit.  (I had an $8k AU account on there, but it showed no use for two years.)

 

If you're on the line, income may make the difference.  I think it did with me.

Contributor
Posts: 167
Registered: ‎07-13-2011
0

Re: Could really use some advice... Please help!

Thank you for all the advice... I think my US Back Cash+ (or CSP) will have to wait till next year. I'll garden for a good while before I apply for that one.

 

 

I'm going to go ahead and pull the trigger on the Citi Thank you Preffered..... I will post back my results shortly. Thank you for the help!

Fico Scores: TU 734 (08/12/2012) and EQ 716 (12/08/2012)

AMEX BCP $10,000 (opened 09/2012) - Citi TYP $6500 (opened 12/2012) Chase Freedom $1500 (opened 09/2012)

GMAC Mortgage $181,000 (opened 07/2011) - Car Loan $18,000 (opended 01/2011)
Established Contributor
Posts: 504
Registered: ‎08-28-2012
0

May the Force be with you.

May the Force be with you.

Contributor
Posts: 167
Registered: ‎07-13-2011
0

Re: May the Force be with you.

applied and got a "we are currently processing your application and will be in touch within 1 week"......

 

 

I will call the status line and see if I can speak with a rep.... hope I don't have to recon... anybody fimiliar with CITi and how they handle apps/recons?

 

 

Fico Scores: TU 734 (08/12/2012) and EQ 716 (12/08/2012)

AMEX BCP $10,000 (opened 09/2012) - Citi TYP $6500 (opened 12/2012) Chase Freedom $1500 (opened 09/2012)

GMAC Mortgage $181,000 (opened 07/2011) - Car Loan $18,000 (opended 01/2011)
New Contributor
Posts: 85
Registered: ‎11-07-2012
0

Re: May the Force be with you.

[ Edited ]

Just be honest with your answers as it could be just a simple verification question to make sure its the right person applying for the card. 

 

I had to call for both my Amex and discover cards it was fast and simple after applying online 

Current Score: 771 - 11/21/2012/ Amex Pull
Late Payment: 0 / Collections: 0
AAOA: 6.3 Years

"My Scores Yesterday or Last week or even Last month has no value when applying for credit today. The value is not in my score but the information in my credit file. Once the information is good the score will follow"
Contributor
Posts: 167
Registered: ‎07-13-2011
0

Re: May the Force be with you.

Called and spoke with a nice rep who verified some info, she said the application was still pending and there is no decision in the system yet. She told me to wait a day or two and keep checking online......

 

 

hope this isn't a bad sign......

Fico Scores: TU 734 (08/12/2012) and EQ 716 (12/08/2012)

AMEX BCP $10,000 (opened 09/2012) - Citi TYP $6500 (opened 12/2012) Chase Freedom $1500 (opened 09/2012)

GMAC Mortgage $181,000 (opened 07/2011) - Car Loan $18,000 (opended 01/2011)
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