07-23-2013 09:27 PM
As I mentioned in part 1, I had carefully planned some larger credit card payments so that NO card would be reporting "maxed" out as of 01 August. I was hoping for a score boost and wondering what/if I should apply for....
Turns out, my zero percent interest promo period from my local credit union finally expired...they added interest, then cut the statement with that card reporting 91% util.
Oh well. Realizing that the score boost I had hoped for simply wasn't to be, I went ahead and pulled the trigger and had surprisingly good results. CU refinanced my car at a lower rate, a lower monthly payment, and allowed me to take quite a bit of cash out.
After reaching the magical "approved" screen, I got a pop up telling me that I was pre approved for a bigger, better credit card and did I want to accept?
Click. Clickity click click CLICK!
Turns out that it is not actually a new account, its just a HUGE credit line increase on my existing credit card with a healthy drop in the interest rate to boot!
(Credit line went from $2,000 to $5,500, interest rate dropped from 21.8 to 16.4)
So, in other words, I just took more than $100 off of my car payment, added $4,500 to my checking account, and increased my available credit by $3,500 all in ONE application.
Pretty good day!
07-23-2013 09:36 PM
07-24-2013 01:25 AM
congrats! sounds nice
07-24-2013 06:28 AM
07-24-2013 06:34 AM
Congrats! Feels great when things like this happens, and a bigger bank balance to boot!
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