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Regular Contributor
Posts: 141
Registered: ‎07-01-2012
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Got A 761. What Would You Do With It???

Never even cared about my credit score being so high let alone actually achieving it. This Saturday Score Watch reported that my EQ score is at 761. Plus I have two more payments to make this week that will bring my utilization down even more (from 26% to 2%).

 

I'm so excited that now that I'm here, I don't want to take an inquiry to pull me below 760. But I also have a strategy to add 4 new cards to ensure that all of my low levels can go and I can establish all fully primes.

 

It's interesting looking at the potential mortgage and car rates to understand the potential savings. If you all could would you do refinancing, new purchasing of continue building more prime credit cards and higher limits?

 

Your thoughts would be greatly welcomed...

 

 

All Thanks to myFico:
AMEX Business Platinum (NPSL) | AMEX Business SPG ($25,000) | Citi Hilton Honors Reserve ($14,000) | US Bank Cash+ Visa Signature ($13,500) | AMEX H. Honors ($6,000) | FNBO Platinum MC $6,000) | Citi Diamond Preferred ($4,700) | Citi Double Cash ($3,200) | Chase Freedom ($3,000)
Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
0

Re: Got A 761. What Would You Do With It???

Just keep doing what you're doing :-)

 

If you don't have any credit card debt lol... then you really have no reason to take advantage of 0% offers.... but you could open a new card to get some points :-)

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
New Contributor
Posts: 109
Registered: ‎08-12-2012
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Re: Got A 761. What Would You Do With It???

I'd protect it like a new baby!,


Current: 12/6/12 708 Exp Fico
Goal Score: 740then Garden
Established Contributor
Posts: 637
Registered: ‎07-24-2012
0

Re: Got A 761. What Would You Do With It???

Unless you're a profligate spender, the rewards of refinancing your home or car at a better rate are likely to greatly exceed the rewards you would earn from any prime credit card.

 

Shop around for the refis first, then and only then look into some additional credit cards.  Your current selection of cards is already pretty prime, and having a solid AAoA and no recent inquiries can only help you in refinancing.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12), Total CL $1k on 2 TLs
Current: EQ 709 (CCT 2/4/15), EX 704 (CCT 2/4/15) , TU 702 (CCT 2/4/15), Total CL $110.3k on 14 TLs Goal: 740+ x3
My Wallet: Amex BCP $30k, Chase United Explorer $16k, Amex SPG $13.5k, Barclaycard Ring MC $12.5k, Chase CSP VS $12.2k, Discover it $10.5k, C1 Venture VS $6.5k, Chase Slate $3.5k, Amex Hilton Surpass $2k, Barclaycard Apple V $2k, Chase Freedom V $1100, BoA Cash Rewards V $500, Citi BestBuy $500
My Loans: Prosper $25k/36mo, Prosper $17k/36mo
My Business: Chase Ink VS $5k, Amex BRG NPSL (> 10k),
Regular Contributor
Posts: 141
Registered: ‎07-01-2012
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Re: Got A 761. What Would You Do With It???


youngandcreditwrthy wrote:

Just keep doing what you're doing :-)

 

If you don't have any credit card debt lol... then you really have no reason to take advantage of 0% offers.... but you could open a new card to get some points :-)


I need (ahem) more utilization room on my consumer cards. I have 16k consumer CL in total. When I pay my kids tuition and a couple dinners during the month, I can run up to 30% easily. I've been fortunate to build back from a dead stall back in 2008. With the help of this board I at least now know how to positively affect my utilization numbers and keep my score over 700. But I have to continually maintain expenses with little head room. Hoping to get to about 50k in total consumer CLs to ensure that I can keep <10% util in all cases.

 

and yes I want to ensure that I can "protect it like a baby".

 

Looking for a bit of expertise in maintaining and goal setting/readjusting as well as how to more further.

 

All Thanks to myFico:
AMEX Business Platinum (NPSL) | AMEX Business SPG ($25,000) | Citi Hilton Honors Reserve ($14,000) | US Bank Cash+ Visa Signature ($13,500) | AMEX H. Honors ($6,000) | FNBO Platinum MC $6,000) | Citi Diamond Preferred ($4,700) | Citi Double Cash ($3,200) | Chase Freedom ($3,000)
Valued Contributor
Posts: 1,292
Registered: ‎08-19-2012
0

Re: Got A 761. What Would You Do With It???

have you throught about another AMEX revolver?

 

do you fly very often?  if you do maybe an Delta Skymiles card...  you get your first checked back free and it's only a SP if declined....

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Regular Contributor
Posts: 141
Registered: ‎07-01-2012
0

Re: Got A 761. What Would You Do With It???


TheConductor wrote:

Unless you're a profligate spender, the rewards of refinancing your home or car at a better rate are likely to greatly exceed the rewards you would earn from any prime credit card.

 

Shop around for the refis first, then and only then look into some additional credit cards.  Your current selection of cards is already pretty prime, and having a solid AAoA and no recent inquiries can only help you in refinancing.


Hoping to add 2 AMEX consumer cards soon. I should be able to do this with a back date of 1998... Haven't yet added a consumer amex because I slipped into their door through a business card 2 years ago. Fortunate enough to have read you guys info about backdating. I hope to heck that they will allow me to obtain a consumer card later this month.

 

Chase rejected me two months ago with a 695 for a CSP card. Also wondering if I will fly below the rader with them?

All Thanks to myFico:
AMEX Business Platinum (NPSL) | AMEX Business SPG ($25,000) | Citi Hilton Honors Reserve ($14,000) | US Bank Cash+ Visa Signature ($13,500) | AMEX H. Honors ($6,000) | FNBO Platinum MC $6,000) | Citi Diamond Preferred ($4,700) | Citi Double Cash ($3,200) | Chase Freedom ($3,000)
Regular Contributor
Posts: 141
Registered: ‎07-01-2012
0

Re: Got A 761. What Would You Do With It???


ryanbush wrote:

have you throught about another AMEX revolver?

 

do you fly very often?  if you do maybe an Delta Skymiles card...  you get your first checked back free and it's only a SP if declined....


Directly in my sights. Hope to add the HH Amex and the Delta Amex in another 5-10 days as soon as $3700 worth of balances on two cards is updated. These two cards will hopefully boost my AAoA from just above 4 years to hopefully closer to 7 if AMEX allows me back in to the consumer door.

All Thanks to myFico:
AMEX Business Platinum (NPSL) | AMEX Business SPG ($25,000) | Citi Hilton Honors Reserve ($14,000) | US Bank Cash+ Visa Signature ($13,500) | AMEX H. Honors ($6,000) | FNBO Platinum MC $6,000) | Citi Diamond Preferred ($4,700) | Citi Double Cash ($3,200) | Chase Freedom ($3,000)
Established Contributor
Posts: 637
Registered: ‎07-24-2012
0

Re: Got A 761. What Would You Do With It???

Given the additional information you subsequently provided, I think going for the two AmExes you are targeting is a good plan.

 

It sounds like you are managing your monthly spending well and paying in full....you just need larger credit lines so your utilization will stay in the "green zone".

 

The beauty with the AmExes is they won't harm (and will probably help) your AAoA, so it's only costing you a couple of HPs if you succeed in getting them both.

 

At that point, though, I would focus on laying low on credit cards and shop for refinancing as I originally suggested.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12), Total CL $1k on 2 TLs
Current: EQ 709 (CCT 2/4/15), EX 704 (CCT 2/4/15) , TU 702 (CCT 2/4/15), Total CL $110.3k on 14 TLs Goal: 740+ x3
My Wallet: Amex BCP $30k, Chase United Explorer $16k, Amex SPG $13.5k, Barclaycard Ring MC $12.5k, Chase CSP VS $12.2k, Discover it $10.5k, C1 Venture VS $6.5k, Chase Slate $3.5k, Amex Hilton Surpass $2k, Barclaycard Apple V $2k, Chase Freedom V $1100, BoA Cash Rewards V $500, Citi BestBuy $500
My Loans: Prosper $25k/36mo, Prosper $17k/36mo
My Business: Chase Ink VS $5k, Amex BRG NPSL (> 10k),
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Got A 761. What Would You Do With It???

[ Edited ]

CreditEd wrote:

Never even cared about my credit score being so high let alone actually achieving it. This Saturday Score Watch reported that my EQ score is at 761. Plus I have two more payments to make this week that will bring my utilization down even more (from 26% to 2%).

 

I'm so excited that now that I'm here, I don't want to take an inquiry to pull me below 760. But I also have a strategy to add 4 new cards to ensure that all of my low levels can go and I can establish all fully primes.

 

It's interesting looking at the potential mortgage and car rates to understand the potential savings. If you all could would you do refinancing, new purchasing of continue building more prime credit cards and higher limits?

 

Your thoughts would be greatly welcomed...

 

 


I have reached the 700 club.... since reaching the 700 club, here are the things I have done in the past year. Prior to reaching 700, I had:

1)  a discover card 3600 limit opened in 1999 (this was my only major CC).

2) a mortgage at 6.125% closed in April 2008.

3) A JCPenny card, inactive with a $124 limit (had not used the card since 2003).

4) Auto loan with Tulsa Federal CU at 7.5%  2007 Ford Explorer Sport Trac

 
I reached the 700 club in Dec 2011 after my mortgage broker fought hard to remove inaccurate reporting by Santander Consumer USA, who I never had a loan with (they were inaccurately reporting a CO in 2010)

 

January 2012:  Closed on a new principle residence.  163k at 4.125%

February 2012:  Applied and approved for Amex Zync NPSL, and Chase Amazon 5k limit (had to recon and explain that all the inqs were from mortgage process)

March 2012:  Applied for NFCU membership.  Refinanced the Ford to 4.05%, shaved one year off the payments;  Pre-approved for NFCU cash rewards card. got approved for 22k, holy crap.

March 2012 Resurrected the JCPenny and CLI to 600.

March 2012 - July 30, 2012   Intense Gardening, got married Smiley Happy,  Auto CLI on JCPenney to $1100

July 30 2012 -  Applied to refinance the first house from 6.125% to 3.5%

August 29, 2012  - Car (2008 Volvo s40 that was paid for) is totalled

Sept 2012 - Opened Navcheck 15k limit, to use for my contractor who is remodeling bathrooms in the first house.  Auto CLIs have brought Discover to 5k

Oct 2012 - Approved for NFCU new auto loan 45k at 1.79%..  will be purchasing a volvo xc90 using European Delivery Program, have 60 days to give the 45k check to the dealership;  No documentation required.


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
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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