NEED YOUR ASSISTANCE PLEASE!!!!

[jdjesus100]

Long time lurker here and first time poster, First off thanks to everyone who post on here it helped me jump my score from 535 to 651within 6 months and i close on my new home today. So here is my situation i have the normal credit rebuilding cards fingerhut $800, Credit One $500, and a Chase Freedom $500 had cards about 4 months now and 14% utilization . I have an auto loan and soon my mortgage i make 65k yr i had a couple lates on auto loan about 1yr and 1/2 ago but thats all i know my fico for my experian is 651 and TU 624 I'm think about after today applying for another card to add to my portfolio i like chase so thought about the slate since i know i cant get the sapphire since CL starts at $5k i wanted to ask for CLI but i heard they suck at it and normally have to wait 6 months. So long story short any suggestions on what i should go for or do. Thanks for your opinions

[bobbay]

As a soon to be homeowner I would say congratulations!

I would line up Home Depot or Lowes and go for the CLI so you have emergency home repair money/financing.  From there I would research AMEX if you have never had an account with them starting the clock with them sooner rather than later is good down the road.

Personally, I would get lowes for the 84 mos option(they run 0% deals too) if you have an emergency because it will have the smallest impact on cash flow and you could knock it out with things like tax return money when it comes in if you want no debt.

Again, grats on the progress and good luck at the closing!

[PlasticOrPlastic]

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@bobbay wrote:

As a soon to be homeowner I would say congratulations!

I would line up Home Depot or Lowes and go for the CLI so you have emergency home repair money/financing.  From there I would research AMEX if you have never had an account with them starting the clock with them sooner rather than later is good down the road.

Personally, I would get lowes for the 84 mos option(they run 0% deals too) if you have an emergency because it will have the smallest impact on cash flow and you could knock it out with things like tax return money when it comes in if you want no debt.

Again, grats on the progress and good luck at the closing!

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+1 sounds like a great suggestion (keeping in my for my first home purchase)

Also the Discover or Freedom cards are a good option, as they rotate categories (Discover is offering 5% CB on home improvement stores now).  Just another option and a card I've been very happy with. 

[jdjesus100]

I want to shoot for the card i would have the best chance with and a card thats pretty easy to recon if declined, its weird cause i got approved for the chase with this low CL but walmart shot me down when i applied a couple months back so i have this fear now that i just got lucky with chase probably since i bank with them. I definetly wouldnt mind a lowes or homedepot as i know it will surely come in handy, does anyone know how they are as far as approvals?

[PlasticOrPlastic]

Your scores look pretty good.  Do you have any baddies?  Lates? BK? etc.  For me it looks like you'd have no problem with Lowes or Home Depot but its hard to say for sure. 

[Kenny]

Barclays Rewards card or Discover It would be a better option than Slate -- it's only good as a BT card, IMO. Better to apply for cashback cards or cards that could significantly grow easily with little effort and are all soft pulls to increase CL. (such as GE cards: Lowes,Wal-Mart, etc.) I included Barclays in this list because they have a good recon department, and they offer auto-CLIs if you use their card a lot. They are great for building/rebuilding as well.

Best of luck -- do not act out of fear.

[PlasticOrPlastic]

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@KennyRS wrote:
Barclays Rewards card or Discover It would be a better option than Slate -- it's only good as a BT card, IMO. Better to apply for cashback cards or cards that could significantly grow easily with little effort and are all soft pulls to increase CL. (such as GE cards: Lowes,Wal-Mart, etc.) I included Barclays in this list because they have a good recon department, and they offer auto-CLIs if you use their card a lot. They are great for building/rebuilding as well.

Best of luck -- do not act out of fear.

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Good call Kenny, I should have mentioned Barclays as well...great company!

[xsvspd]

 

Have you checked for pre-approval from anyone? It doesn't hurt your score, and it can give you an idea of where you stand, even if you are approved for some, but not others.

Here's some links to check for pre-approval

Amex

https://www304.americanexpress.com/credit-card/tools/25330?linknav=us-CCSG-ProspectNav-SpecialOffers...

Bank of America

https://www.bankofamerica.com/credit-cards/customized-offers/find-customized-offer.go?subchannel=ECW...

Chase

https://ccsic.fni-stl.com/redes/index.php/chase_app/psonmarketplace.pl?jp_ltg=leftnav&OVERRIDE_CELL=...

Discover

https://www.discovercard.com/application/fmo?execution=e1s1

[jdjesus100]

Thank you all for your helping words i clicked those pre approval links and the only one that came with something was discover for the discover it card now does that mean im pre approved for it or just what they suggest i should go for? The other ones said no offers at this time so i guess i dont have a shot at them. Ill apply for the discover it after 5pm when i close cause thats when my lender said go for it. im thinking about asking chase for a CLI but dont want to have 2 HP in one day. I dont really have any baddies a couple late auto payments no more that 30 day lates over  a year and a half ago, low utilization 14% alot of inquries do to mortgage and auto loan but low credit limits on these cc i have

[PlasticOrPlastic]

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@jdjesus100 wrote:

Thank you all for your helping words i clicked those pre approval links and the only one that came with something was discover for the discover it card now does that mean im pre approved for it or just what they suggest i should go for? The other ones said no offers at this time so i guess i dont have a shot at them. Ill apply for the discover it after 5pm when i close cause thats when my lender said go for it. im thinking about asking chase for a CLI but dont want to have 2 HP in one day. I dont really have any baddies a couple late auto payments no more that 30 day lates over  a year and a half ago, low utilization 14% alot of inquries do to mortgage and auto loan but low credit limits on these cc i have

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Id go for the IT.  Its a great card, and if it popped up on pre approval site its a really good chance you'll be approved.  Good Luck and congrats on the house!