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Established Member
howardroark
Posts: 33
Registered: ‎08-23-2012
0

General advice

[ Edited ]

I have a very low AAoA (9 months) with an Orchard Bank Secured with CL of $1k and a Capital One with CL of $750. I just applied for an AMEX SPG (Denied) and a Discover More (approved $750 CL) which I was pre-approved for.

 

I am not really happy with either of the above decisions. Is it worth reconning the AMEX? From what I've read (after the fact), they generally require at the very least 2 yrs AAoA.

 

Also, can I recon that Discover $750 CL? I honestly don't even want to open an account with them with that paltry limit. How good is Discover with CLIs?

 

In general, I'm probably just going to have to let my credit lines age, but just wondering if I should recon either one.

 

One more final question: should I attempt to unsecure the Orchard Bank/HSBC card?

Frequent Contributor
bbb3601
Posts: 328
Registered: ‎01-26-2012
0

Re: General advice

Withou knowing your scores and past history too hard for the experts to say. I know you dislike the Discover offer, but I would kill to get in with them.  In a year from now I doubt you will have any issues getting what you need!!

 

NFCU Cash Rewards 20,000,NFCU Plat 17,000, NavCheck 15,000, USAA Cash 4,000, USSA Rate Adv 2,000, USAA AMEX 3,500, Freedom 2,000, Capital One 2,000, Barclay's Apple 1,500, Barclay's Ring 1500, Various Store Cards.




Established Member
howardroark
Posts: 33
Registered: ‎08-23-2012
0

Re: General advice

For scores:

716 fako (Credit Karma)

721 Experian (prior to applying for the cards in the OP)

 

No history past the Orchard/HBSC approval a year ago, except for some failed applications.

Valued Contributor
Crashem
Posts: 3,096
Registered: ‎01-26-2012
0

Re: General advice

Sorry can you give us more details on credit file.  Negatives.  What other accounts in files?  Aaoa etc.

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Established Member
howardroark
Posts: 33
Registered: ‎08-23-2012
0

Re: General advice

My Experian report is pretty simple:

 

9 months AAoA

 

Accounts:

HSBC/Orchard Bank card opened on 08/2011, 1k limit

Capital One card opened on 02/2012, $750 limit

 

Negatives:

Low AAoA

5 hard inquiries

 

721 FICO

Valued Contributor
Crashem
Posts: 3,096
Registered: ‎01-26-2012
0

Re: General advice

[ Edited ]

Ahh okay.  Where you getting ex fico score from?  Also what is income like?  In school?

 

 

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Community Leader
Valued Contributor
DaveSignal
Posts: 2,111
Registered: ‎07-29-2011
0

Re: General advice

You don't have enough credit history.  You already took the inq and new account hit by getting the Discover, so there is no point in closing it now.  Just use the cards you have until you get 2 years of reported history and then you should be able to do much better.... although you should try for CLIs after your current cards reach 1 year to get bigger limits on future cards.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Valued Contributor
Crashem
Posts: 3,096
Registered: ‎01-26-2012
0

Re: General advice

Actually, you should not plan on cli or unsecuring your current cards with exception of discover.  Other cards won't grow with you.  No reason for hp to get 200 cli or something junky like that.

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Established Member
howardroark
Posts: 33
Registered: ‎08-23-2012
0

Re: General advice

Thanks guys. 

 

Crashem: so you are saying it is worth reconning the Discover to see if I can get a bump?

Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012
0

Re: General advice

CRASHEM is right, the cards you had before the DISCOVER WILL NOT grow, TRUST ME i have them both for well over a year. I absolutely refuse to call ORCHARD for a cli bc its mostly a hp and you'll be lucky to get $100cli. And CAP1......well we all know they just dont do cli. Just focus on your DISCOVER card for now


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