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New Member
Posts: 1
Registered: ‎10-12-2012
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Questions on the Next Step in improving my credit score

Hi

 

I have had a Capital One Platinum Master Card with a $750 credit limit for 4.2 years now. This was my first credit card starting my credit history. I also have an AMEX Zync card with no limit which I have paid off every month since I got it in 9/2010. Since the Zync card doesn't have a credit limit on my credit report it only shows the $750 credit limit on there. I have called Capital One several times I have a perfect history with that card as well and yet they won't increase the limit. I am afraid that the $750 limit is hurting my credit score but am not educated on the inner working of the FICO scoring system. I have a score on EX of 740 EQ of 762 and TU of 762. I travel quite often but am privileged to work for an airline so frequent flier miles are useless for me. I am wanting another card to both improve my score and have credit available in the event of an emergency. I am fed up with Capital One but had my eye on the Venture One Rewards card. I am afraid to apply for anything don't have the history or the score to qualify as it says you should have at least a card with a $5000 credit limit to get approved.

 

Any Suggestions on what I should do next to improve my score would be greatly appreciated.

 

AMEX Zync (2 years history perfect history no limit), Cap 1 Platinum MC ($750 limit 4.2 years perfect payment history)

EX 740 EQ 762 TU 762

Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
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Re: Questions on the Next Step in improving my credit score

Maybe you call Amex and ask them if they can convert your Zync to one of their airline card maybe Delta Amex...etc.....

Also Discover wouldn't be the bad choice either since their cash back system very interesting.........your score nearly perfect so I'm sure they would approved you with pretty much everything you apply for......Screw Crappy One.....they would never grow with you.......if I were you I might apps for 2 3 more card then garden for awhile......


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Regular Contributor
Posts: 154
Registered: ‎09-21-2012
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Re: Questions on the Next Step in improving my credit score


nicholasyud wrote:

Maybe you call Amex and ask them if they can convert your Zync to one of their airline card maybe Delta Amex...etc.....

Also Discover wouldn't be the bad choice either since their cash back system very interesting.........your score nearly perfect so I'm sure they would approved you with pretty much everything you apply for......Screw Crappy One.....they would never grow with you.......if I were you I might apps for 2 3 more card then garden for awhile......


+1 As long as you have sufficient income you should be in great shape to get those cards.

Age: 22 //Cards: Chase Freedom, Chase Amazon Visa, Discover IT, CreditOne, CapOne Quicksilver, CapOne Cash, Walmart, Barclaycard, Citibank BestBuy, NavyFederal Visa Signature cashRewards //AAoA: 1 Year 3 Months (but going down quickly :smileytongue:) //CK:692, Sesame:656
Frequent Contributor
Posts: 492
Registered: ‎07-24-2012
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Re: Questions on the Next Step in improving my credit score

With your scores, I'd aim for a truly prime card.

 

Since you travel frequently but don't need miles/flight benefits, perhaps one of these:

 

Chase Sapphire Preferred - gives double points on dining, and I'll bet you have to eat out a lot when you're on a stopover outside your home city.  also gives double points on all travel - not just airfare - so you'd be earning points on hotels, cruises, rental cars, train tickets, taxis, tolls and more. Seems like a great card for someone in your industry to rack up a lot of great Ultimate Reward points. Also, not sure if you fly domestic or foreign routes but no foreign transaction fees is a great plus as well.

 

Citi Forward - earns 5x points on dining and entertainment, but only 1x on travel and all other expenses. The ThankYou points actually have a slightly higher value than Ultimate Rewards when redeemed directly for travel, but are of lesser value (and have less flexibility) when you factor in the other redemption methods open to Chase users. 

 

My recommendation...get them both. I don't know if you're a pilot, flight attendant, or something else.  But I have a friend who is a pilot and it's a lot of nights in hotels and eating in restaurants for him. If I were you, I'd put all my dining on the Forward, and all my hotel and other travel on the CSP, and just rack up the points on both.

 

If your airline typically books you in the same line/family of hotels all the time, then one of the prime hotel cards might also be a good option (AmEx SPG, AmEx Hilton, Chase Hyatt).  But if not, the sheer versatility of the CSP is probably king for your situation.

 

.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12)
Current: EQ 670 (myFICO 9/8/14), EX 694 (Prosper 7/17/14) , TU 693 (WalMart 9/2/14) Goal: 700+ x3
My Wallet: Amex BCP $30k, Chase CSP VS $12.2k, Amex Zync NPSL (> 10k), C1 Venture VS $5k, Amex SPG $4.5k, Walmart (Store) $2.5k, Barclaycard Apple V $2k, Chase Freedom V $1100, BoA Cash Rewards V $500, Best Buy Rewards MC $500
My Loans: Prosper $25k/36mo
My Business: Chase Ink VS $5k
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