@Anonymous wrote:Hello all i am new to the forum so exscuse me if i am posting this in the wrong area. I assumed this was as close as it gets.
I am curious what sucess everyone has had with line of credit approvals. My scores are as follows: TU:731 Exp:708 Equifax:712. I have ABSOLUTELY zero monthly recurring debt as i just paid everything off about 2 months ago. I am 22 years old and gross about 2800 monthly. My credit history is only about a 3.5 years including 3 CC with 7500 available between them and a paid of 5000 4 year instalment loan i paid off in 2. The reason i would like to go with an unsecured LOC is because i would like to use it to supplement the birth of my first child. I know the between doctors visits and medical expenses i should plan on about 15k. With the repayment term, interest rate, and flexibilty the LOC has, i do not want to use the CC's as the interest rates are 19.99% . My fiance has terrible credit (were working on it) so it will be a sole app this time. just curious as to what input anyone has for approval odds and where to go or what steps i should take to get there.
thanks in advance
before you app for anything let a few bucks report on one of your CCs to the CRAs, all revolvers at 0 scores as if you are using 30% of your lines.. I dont see a problem with you getting a PLOC, check around and see who will give you the lowest rates including national CUs and remember there is no grace period for interest with a PLOC it starts day the advance hits the line.
Welcome to MyFico 
@Anonymous wrote:Thank you i really appriciate the advice.
The three CC's i have are as follows;
Wells Fargo 1500 limit
American Airlines 500 limit
GE Capitol 5500 limit.
As i said all are at zero right now
I am assuming use the wells fargo card for a couple hundred bucks the next few months and pay the balance in full? You can use to the full limit but you only want 1-9% of your card CL reporting to the CRA, I would let no more than 50 report on the WF card..
Any reccomendations on banks or credit unions? The national ones I know of are DCU, SDFCU, NASA, PenFed and Navy Federal if you can qualify would be the best shot.
I have been with wells fargo for 4-5 years and never missed any payments with them or anywhere. Should i start there or are there some better options out there? You can check and see what their rates would be nothing wrong with that, as I said in my first post check with your local CUs as well. only looking for 15k. Im not sure you would be able to get 15K from just one source your revolving limits are not anywhere near that figure. Ypu might want to take a look at Synchrony Banks Care Credit Card there are 0% offers available on that card, you would need to check and see if your docs/hospital will take the card, you would only want to use this card if you can acutally PIF before the 0% time runs out as the interest rate is even more outrageous than what you have now.
