07-29-2009 10:37 AM
Hello. I enrolled in a new credit union last month mostly because I needed to cash some savings bonds and my other smaller credit union couldn't do it.
But, now that I am a member, I am thinking I should try to get a credit card with them. I have a mastercard $1,000 limit with my other credit union, an Applied Bank Visa with $500 limit, and a Chase (formerly WaMu) flexible rewards Visa with $2,500 limit. Since Chase started doing their purges, I am just waiting for the guillitine to strike so I feel like I need additional credit since Chase is my highest limit card. And, I figure my chances are better before Chase cuts me, right? (or maybe it won't matter??)
What do you all think? Should I apply now or wait?
FICO EQ 649 7/21/09
07-29-2009 10:43 AM
07-29-2009 11:06 AM
haulingthescoreup, thank you so very much. Excellent advice about printing out the report and checking in advance so that I don't get an inquiry.
I have a lot to do to improve my scores. I had a Ch 7 bankruptcy discharged in 3/2005. No collections. 1 CO and a lot of lates back in 2004/2005. I haven't had any lates in 4 and half years since the bankruptcy. My main problem is utilization, especially with the Chase card, I haven't calculated it but I think my utilization was around 85% or something bad like that for chase and then around 70% for the credit union MC and 20% for the Applied Visa. So, that is my main goal since coming to these forums and learning from you all. This forum is so great! I wish I had found it years ago as I'm sure I would have learned how to avoid filing for bankruptcy.
Anyway, I will check with the credit union and continue to work on bringing down utilization.
EQ FICO 649 7/21/09
07-29-2009 11:11 AM
07-29-2009 02:17 PM
07-29-2009 03:23 PM
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