@ras_34 wrote:Hello all! This is my first post and I hope that I do not sound too much like a noob but I would really like yalls opinion on what I am doing right and what I am doing wrong when it comes to my credit situation. Any and all advice would be greatly appreciated. My credit history is as follows. I currently have the following credit cards...
Chase Freedom $1500<<<Converted from Circuit City when they went out of business in 2008 or 09. Member since 2008
Capital One Quicksilver $2250. Member since 2010
Capital One Quicksilver $1150<<<Converted from HSBC Platinum Card. Member since 2010
AMEX Zync Charge Card. Member since 2011.
Citi Thank You Preferred $5000. Member since 2012.
I have NEVER had a late payment since getting my first credit card in 2008. I am currently at a position where I make 55k a year. I am using 27% of my available credit and according to Credit Secure is a 712 and Credit Karma is 733. For the last 3 months I have been using all of my cards and paying them off in full each month for the exception of the Citi card. I made a large purchase using that card and I am paying that off month by month. So what I am asking is the following...
Do I have too many cards? I don't think you have too many. 5 is fine if you can manage them.
How come so many of you posters have such high limits and I seem to not be able to get anything over a 5K limit? You may want to get your util under 10% before applying for the next card.
How do i go about getting higher limits on my card? I would suggest reaching out to Cap One EO for a CLI on both cards. I have done this on all of my Cap One cards with success, very nice ppl and it's a SP. I have only had my Freedom a month or so but I've read that CLs are HP for Chase. Not sure the process for Citi, hopefully someone else can chime in on that.
What am I doing right? Paying your cards in full is great, and it seems like you don't have many inq.
I would really like the Marriott Premier Rewards Card. Yes or no? I will be doing quite a bit of traveling with work.
I know my questions seem very random but after looking around on this forum I have so many questions so I am sure I will continue to be posting. But, like I said, any info or feedback will be greatly appreciated. Thanks!
@ras_34 wrote:Hello all! This is my first post and I hope that I do not sound too much like a noob but I would really like yalls opinion on what I am doing right and what I am doing wrong when it comes to my credit situation. Any and all advice would be greatly appreciated. My credit history is as follows. I currently have the following credit cards...
Chase Freedom $1500<<<Converted from Circuit City when they went out of business in 2008 or 09. Member since 2008
Capital One Quicksilver $2250. Member since 2010
Capital One Quicksilver $1150<<<Converted from HSBC Platinum Card. Member since 2010
AMEX Zync Charge Card. Member since 2011.
Citi Thank You Preferred $5000. Member since 2012.
I have NEVER had a late payment since getting my first credit card in 2008. I am currently at a position where I make 55k a year. I am using 27% of my available credit and according to Credit Secure is a 712 and Credit Karma is 733. For the last 3 months I have been using all of my cards and paying them off in full each month for the exception of the Citi card. I made a large purchase using that card and I am paying that off month by month. So what I am asking is the following...
Do I have too many cards?
How come so many of you posters have such high limits and I seem to not be able to get anything over a 5K limit?
How do i go about getting higher limits on my card?
What am I doing wrong?
What am I doing right?
I would really like the Marriott Premier Rewards Card. Yes or no? I will be doing quite a bit of traveling with work.
I know my questions seem very random but after looking around on this forum I have so many questions so I am sure I will continue to be posting. But, like I said, any info or feedback will be greatly appreciated. Thanks!
Do I have too many cards? There is no right or wrong answer to this, it's simply opinion based. To some, 5 is more than enough, and to others, 5 is a small amount. Personally, I have five cards at the moment, and want to increase that number to thicken my credit file a bit. This will help me when it comes time to car and home loans.
How come so many of you posters have such high limits and I seem to not be able to get anything over a 5K limit? Credit history and score. Some of us have
How do i go about getting higher limits on my card? You can request credit limit increases on your cards (if it's a SP, then no brainer). If you're willing to risk a HP (if SP is not an option), then make sure you know the implications it will have on your CR and CS.
What am I doing wrong? Personally, I never carry a balance and PIF. You might also want to check your util %... 27% is kinda high for most of us on here. We tend to keep it around 9% (optimal).
What am I doing right? You have the Zync card... that's awesome. I wish I had that. I think what you're doing right is recognizing that you need advice... most people don't seek advice often, so it's good that you came here!
I would really like the Marriott Premier Rewards Card. Yes or no? I will be doing quite a bit of traveling with work. If the benefits are there for you, then definitely apply for it.
Final recommendation: Pull real credit reports from annualcreditreport.com and find out your scores (if you apply for new credit, they will usually include it in your approval or denial letter and which lender they used)... don't trust the FAKO scores on those sites you use. They are general indicators, but they can't beat the real thing.
$12,400 $20,000 $10,000 $6,000 $4,700 $5,800 $1,050 (AU)
@ras_34 wrote:
Thank you all very much for all of the information. One more "noob" question... I take it a soft pull doesn't hurt your CS? Also, from the info given, would I be denied the Marriott rewards card?
Soft pulls aren't viewable by lenders or calculated into you FICO scores.
As far as the Marriot, probably best if someone else answers that one too, but my guess is that you would probably get approved. If you're using 27% of credit though, then ideally knock down some of that util and get under the 10% mark for the best limit and terms.
@DFStudent wrote:
@ras_34 wrote:Hello all! This is my first post and I hope that I do not sound too much like a noob but I would really like yalls opinion on what I am doing right and what I am doing wrong when it comes to my credit situation. Any and all advice would be greatly appreciated. My credit history is as follows. I currently have the following credit cards...
Chase Freedom $1500<<<Converted from Circuit City when they went out of business in 2008 or 09. Member since 2008
Capital One Quicksilver $2250. Member since 2010
Capital One Quicksilver $1150<<<Converted from HSBC Platinum Card. Member since 2010
AMEX Zync Charge Card. Member since 2011.
Citi Thank You Preferred $5000. Member since 2012.
I have NEVER had a late payment since getting my first credit card in 2008. I am currently at a position where I make 55k a year. I am using 27% of my available credit and according to Credit Secure is a 712 and Credit Karma is 733. For the last 3 months I have been using all of my cards and paying them off in full each month for the exception of the Citi card. I made a large purchase using that card and I am paying that off month by month. So what I am asking is the following...
Do I have too many cards?
How come so many of you posters have such high limits and I seem to not be able to get anything over a 5K limit?
How do i go about getting higher limits on my card?
What am I doing wrong?
What am I doing right?
I would really like the Marriott Premier Rewards Card. Yes or no? I will be doing quite a bit of traveling with work.
I know my questions seem very random but after looking around on this forum I have so many questions so I am sure I will continue to be posting. But, like I said, any info or feedback will be greatly appreciated. Thanks!
Do I have too many cards? There is no right or wrong answer to this, it's simply opinion based. To some, 5 is more than enough, and to others, 5 is a small amount. Personally, I have five cards at the moment, and want to increase that number to thicken my credit file a bit. This will help me when it comes time to car and home loans.
How come so many of you posters have such high limits and I seem to not be able to get anything over a 5K limit? Credit history and score. Some of us have
How do i go about getting higher limits on my card? You can request credit limit increases on your cards (if it's a SP, then no brainer). If you're willing to risk a HP (if SP is not an option), then make sure you know the implications it will have on your CR and CS.
What am I doing wrong? Personally, I never carry a balance and PIF. You might also want to check your util %... 27% is kinda high for most of us on here. We tend to keep it around 9% (optimal).
What am I doing right? You have the Zync card... that's awesome. I wish I had that. I think what you're doing right is recognizing that you need advice... most people don't seek advice often, so it's good that you came here!
I would really like the Marriott Premier Rewards Card. Yes or no? I will be doing quite a bit of traveling with work. If the benefits are there for you, then definitely apply for it.
Final recommendation: Pull real credit reports from annualcreditreport.com and find out your scores (if you apply for new credit, they will usually include it in your approval or denial letter and which lender they used)... don't trust the FAKO scores on those sites you use. They are general indicators, but they can't beat the real thing.
+1 Agree do your research on each CC. Which will do a cli with a Soft pull after you get your Util down.
Wait for the Card to Post-Shows your Util is down before asking for Cli.
MyFico search Forums function should help you ask the right Questions. Example -calling CR about your cards
Get your free annual credit report and look to see if there's anything on it.
Note: Just pick one Agency stagger them out to give you time to read it and understand it.
Especially right now with all the Cough Hackers using something as easy as a Malware program with some tweaks getting into Target's data base..
