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
07-23-2013 09:37 PM
Congrats its twins
07-24-2013 01:25 AM
congrats! sounds nice
07-24-2013 02:08 AM
Awesome. You are a credit wizard.
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!
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.