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
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