Nearly one year in the garden part 2.

tcbofade · ‎07-23-2013

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.

Sumbeach!

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?

Duh.

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!

04/01/24 Fico 8: EX 763, EQ 799, TU 783.
Fico 9: EX 756 03/13/24, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...

eddie84 · ‎07-23-2013

Talk about killing two birds with one stone... congrats!

Well, in your case it's more like 3 - 4 birds. lol

Pilotdude · ‎07-23-2013

Nice!! Congrats!!

NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000

myjourney · ‎07-23-2013

Congrats its twins

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

09Lexie · ‎07-23-2013

Congrats!

Closing Credit Cards

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kalani91 · ‎07-24-2013

congrats! sounds nice

EX 724 ,NFCU Cash Rewards 7k DCU Plat 4.1k, Discover IT 2.5k Chase Freedom 2k. . Cap1 Plat $1.5k, Cap1 QS 1k, , Wells fargo 1.5k, Paypal 1.5k

azguy13 · ‎07-24-2013

Awesome. You are a credit wizard.

SnackTrader · ‎07-24-2013

That's fantastic!!!!

I knew that the credit union would end up being your best alternative, and it looks like they helped you get your utilization down in multiple ways. I'm really happy it worked out so well for you.

What's the plan with the $4,500???

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015

KIPPIE12 · ‎07-24-2013

Congrats! Feels great when things like this happens, and a bigger bank balance to boot!

knoregs · ‎07-24-2013

Congrats!

~kn

EQ: 700 (FICO ScoreWatch) 11/26/14
EX: ??? (No Current)
TU: 681 (Discover FICO) 11/12/14

Last App 9/22/14... In Garden 'till Summer '15