09-18-2012 09:57 AM
Recently I decided that I wanted a few cards to reflect how responsible I have been with my credit and my credit worthiness. Ten years ago I didn't have this option.
I bought a AMEX prepaid card (just for good measure) and 6 months, later applied for and was approved for AMEX PRG and Delta Gold SkyMiles (5k). In my mini spree I also apped for the BoA 1-2-3 card, which I just PCed to the Signature Visa (5k). In my sock drawer, I keep an old BBRZ MC with an $800 limit and probably no growth in sight with that one given what I've read about Cap One.
I feel like I went for what I thought would be valuable, but now I'm thinking that it may not be enough. Maybe I shouldn't have PCed to the Signature - which I have been dogged about getting (you can read another post of mine to hear about that fiasco) - so that I have more CLs reporting. Maybe I need a Chase or Citi card. While I have no clue which to app for - if I do app for one - it seems as though my app spree window has closed seeing that I apped for the other cards mentioned about a month ago.
No collections or BKs. 1 negative from a student loan on EX and EQ from 2007. $85k salary. <10% utility reporting on one card. Scores in the 710 range straight across the board.
What is the best actions for me to take?
09-18-2012 10:11 AM - edited 09-18-2012 10:14 AM
I don't think that you've closed any app window. I do believe that not having the BOA reporting a CL will hurt your utilization if you need to make any big purchase. I would do a little research with regards to who pulls what CRA in you area then app either Chase or Citi depending on the CRA that has the fewest inqs. Citi is very inq sensitive and Chase not so much if your score is good. I think your scores are in line for another approval with Chase being my first choice. (maybe the Freedom card).
09-18-2012 10:15 AM
I guess I am confused.
1. Are you saying the rewards you have on these cards are not useful anymore so you would like to replace now that you are in prime land and probably can get approved.
2. Looking to add more?
3. I have not seen your other post but Signature is a toss up for me... i don't really like it unless they report CL with it... USBank does, Nordstrom does, not sure about others.
09-18-2012 10:18 AM
Getting a CC that will report a CL will help -- especially if you don't pay before the stmt cuts. Why don't you research different rewards cards and see which one has the best rewards for you. You would probably be approved for Citi or Chase, and Chase Freedom is more lenient. I'd make the decision by the one with the rewards that best suit you.
09-18-2012 10:20 AM - edited 09-18-2012 10:22 AM
Is that a hint to shoot for one of the Chase cards, keep the other cards that I have and garden for a while thereafter?
That's what I'd do exactly. . Your scores are good enough for the Freedom VISA with the $100 cash back but I'd check to see which CRA they pull in your region/state. If they pull the CRA with the most inqs, you might get a lower limit or higher APR but I think you will be approved. (especially after approval recon the limit). Citi isn't so easy to recon and you'd definitely end up with a higher APR. Either way- I'd go straight to the garden afterward for at least a year.
09-18-2012 10:23 AM
Another option is Barclay's. Their Priceline Visa gives 2% on everything. Wish I had known about that card earlier! Plus, w/Barclay's you'll have an incentive to garden.
09-18-2012 10:24 AM
09-18-2012 10:36 AM
Should I wait until both AMEX and BoA reports my higher limits of 5k? Or just go for it?
How long have you had each of your cards and what is the limit reporting on each right now?
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