05-15-2009 03:30 PM
Although this is my first post, I've been reading and following advise from this forum for some time. I'd like a little advise if you will.
Sept 2007 I applied and received a First Premier credit card (250CL) to start rebuilding my credit. In April 09 I applied for a Chase Platinum Visa through the branch and was approved (3200CL). May 09 I decided to use BOA's pre approval link to see if I qualified for anything and was pre approved for four of their cards. I selected the BOA American Express and received the card 7 days later. I just cancelled the First Premier card early this week. I would like to replace it with a Discover Card having that I have a pre-approval letter in my hand. After that Im done I will have all the cards I need.
Two questions, do you think applying for the Discover card is a bit much in two months or should I apply, get it over with and allow my new cards to age? Second, I have yet to activate the BOA card, but should I ask for a credit limit increase at the time of activation?
05-15-2009 04:43 PM - edited 05-15-2009 04:48 PM
Hi there and welcome to the forum.
I don't see any harm in applying for that third card at all. I applied for and received 3 cards in less than a week recently myself. I believe Discover was the 2nd one I apped. They pulled a totally different report than the other 2. Others here have apped for even more with little effect on their credit scores.
In my case, like you, I hadn't applied for any credit in quite some time and lost minimal score points.
Good cards, by the way. Congratulations.
05-15-2009 04:53 PM
ummm.. doesn't sound like you needed to rebuild at all... CANCEL FIRST PREMIER!!
congrats on Chase and BofA
05-15-2009 04:54 PM
oh right and sure go ahead and apply for Discover I would say.
and yes you can ask for CLI with Bank of America at time of activation, people use to have success, not sure how they are now with that.
05-15-2009 05:16 PM
Trust me. I needed to rebuild. I was a 473 beacon 3 years ago. I have 32 inquires within the last 2 years which are scheduled to drop off 12/09. Most of them were because i was in the market to get a car and the dealers shotgunned my report to everybody and their grandmother trying to get me approved. I fell behind on my mortgage several times countless 30 days lates, three time 90 days late and once 120 days late. Nevertheless, I cleaned up my report by disputing inaccurate items with the help of Lexington Law. I haven't been late on anything in almost three years.
My scores as of April 09: EFX 677 - TU 669 - XPN 670
05-15-2009 06:09 PM
I think you might be right. Furthermore, I really don't need it. I'm just trying to get all my cards out the way so they may age simultaneously and eventually boost my credit score. I would love to join the 800 club one day! I guess i'll wait until the the beginning of next year before applying. Thanks for all the advice and words of encouragement!
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.