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Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012

Re: Questions about closing a cc


pgyagnzia wrote:

BrokaToe,

 

What's a BR? Also I've had credit cards for about 6 years all with good standing. Would this help?

 

Sorry I don't know how to quote/box a text.


Oh sorry, by BR I meant Bankruptcy. And yes 6 years of positive history is great! :smileyhappy:


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Established Member
pgyagnzia
Posts: 32
Registered: ‎10-10-2011

Re: Questions about closing a cc

No, I never file for bankruptcy. What are my chances of getting approve?

 

And please help show me how to box (quote) an original post.

 

Thank you!


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Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012

Re: Questions about closing a cc


pgyagnzia wrote:

No, I never file for bankruptcy. What are my chances of getting approve?

 

And please help show me how to box (quote) an original post.

 

Thank you!


Like I said, I don't have any experience with Amex approvals but I would say your have a pretty good chance of approval, depends on what the rest of your report looks like, annual income all that good stuff.

 

To quote, click on the reply under the post you want to quote, then when the window pops up for you to type your reply in, look at the right side there is a button that says quote. click on that and it will insert the previous comment.


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Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: Questions about closing a cc

maybe its should be time for u to using your Discover Card for their reward structure and stuff. They also offer 5% to 20% cash back on ShopDiscover. I earn a lot of money by using their link so far.

Your score and history sound good but i dont know if there something hold you back maybe a baddie on your credit report that you dont even know ?????

I would try backdoor number for all of the cards you want increase limit. It's depend how sweet talk and stuff you are to them. You get lucky if its some nice customer service.

I dont find any reason why would you wanna close it since it doesnt come with AF.

A lot of folks here wish to have discover in their wallet. They pain in da *** sometime with their limit thou but i find something really reasonable about credit card company. The more you spend and responsibility you are to your credit card company then you would see some love soon.

Just patient i guess.

One more thing, your file should look good for BCE there is some 150 and $250 for BCP cash back bonus sign up.

Remember 9% credit rule before you apply for anything.

Good luck

 

 


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New Contributor
tatterz
Posts: 121
Registered: ‎02-26-2013

Re: Questions about closing a cc

Your chances of getting approved for BCE are pretty good. You very may want to see if you can get your score to 720 first. I was approved with a low income and only one crap1 credit card but a 738 score.

TU: 730 (Lender Pull) ; EQ: 738 (MyFico)
Age:21
Barclay's Sallie Mae 5% Mastercard $1k(4/2013)- My main beach
Chase Freedom $3k (3/2013) - My side beach
Amex BCE $6k (3/2013) - When I feel like a boss
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Established Member
pgyagnzia
Posts: 32
Registered: ‎10-10-2011

Re: Questions about closing a cc


nicholasyud wrote:

 

Remember 9% credit rule before you apply for anything.

Good luck

 

 


What is the 9% rule?


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Established Member
pgyagnzia
Posts: 32
Registered: ‎10-10-2011

Re: Questions about closing a cc


tatterz wrote:

Your chances of getting approved for BCE are pretty good. You very may want to see if you can get your score to 720 first. I was approved with a low income and only one crap1 credit card but a 738 score.


Yes, I'm gonna wait until my score is healtier and apply for AMEX. Thanks!


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New Contributor
Axa
Posts: 141
Registered: ‎02-20-2013

Re: Questions about closing a cc


pgyagnzia wrote:

nicholasyud wrote:

 

Remember 9% credit rule before you apply for anything.

Good luck

 

 


What is the 9% rule?


nicholasyud can clarify his statement, but this is how I use the 9% guideline when apping. I make sure that I rotate cards a few months ahead of apping time so that, at most, only one card at a time per month reports a balance of 1-9% of its limit. It's even better to skip a few months between reported balances to show steady but infrequent use.

 

Staying consistently below 9% looks good to potential lenders/creditors. 


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Valued Contributor
Swapmeet
Posts: 1,271
Registered: ‎11-10-2012

Re: Questions about closing a cc

[ Edited ]

He means be sure that you are using 9% or less of your total available credit. Sorry, didn't mean to butt-in, but I thought I should just lay out the 9% rule. Axa has a nice strategy for upkeep of cards that will be beneficial in that it demonstrates enough use of the cards to show the issuing company that you are using your credit responsibly. This is conducive to the ccc being comfortable with giving credit limit increases, which will help you stay under the 9% utilization. I would certainly recommend that you follow a similar plan.

My Wallet: WalMart: ||10k|| USAA Platinum MC: ||13k|| Amex Delta Gold: ||2k||; BCE: ||9k|| Chase Freedom Siggy: ||10k||
Discover it: ||6.5k|| SG Visa: ||7k|| USAA World MC: ||13k|| US Bank Cash+ Siggy: ||5k|| Citi TYP World MC: ||10.5k||
Barlays Arrival World MC: ||10k||
Fico Scores: EQ 700 (SW),TU 745 (Walmart), EX 738 (myfico) Last app: Arrival World MC 2-1-14
New Contributor
Axa
Posts: 141
Registered: ‎02-20-2013

Re: Questions about closing a cc

Concisely explained. Yes, that's the 9% rule.


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