ymmv wrote:Thanks to this board I'm currently sitting on
AMEX Blue , 6k CL from 2K starting limit, did 3x CLI after 61 days
Discover More, 4k CL, being converted to Discover IT
BOA 123, 1K CL, had prior BOA cc's that went into collections, this card approved on 3rd recon attempt
Cap One - 500 CL, opened last August, initially 300 CL
Express Store Card - 950 CL
At this point I'm not sure what to do other than garden. I have no need for any more cards. It's easy enough to PIF every month. Mentally juggling which card I want to charge with becomes tedious at some points.
1. What's my outlook from here? Do I just grow with these cards and building higher CL's over time?
Maybe I'll finance a car in a year or two. Somewhere down the line (very far future) I'd like to buy a house. What's the best thing I can do to set myself up for that?
2. Should my goal be to qualify for super selective cards like Penfed?
I think that the highlighted statement helps to answer this for you. If you have no need for any more cards, then you don't need to apply for any more. You have a nice collection of cards right now, and if you feel that they're suiting your needs sufficiently, then that's wonderful! So, since you're looking to possibly finance a car and get a mortgage down the line, the best thing that you could do to help meet your goals is to allow these cards to age and develop a spotless history with them. In a year or two, the inqs will no longer affect your score and the positive history will also help to boost it further; this should help you to get a good rate on an auto loan.
Eventually you may decide that other cards offer benefits that your current set of cards don't. After all, life isn't static and people's needs tend to change over time. Once again, gardening what you have now will help you develop the history necessary to get approved for more selective cards.
The bottom line seems to be that, which ever goal you are going for -- car, mortgage, superprime cards -- the best thing that you can do at this point in time is to sit back and enjoy spending some time in the garden.
Starting Scores for 2013: EQ 723, TU 735, EX Credit Sesame 751
Current Scores: EQ 748, TU 741 (06/01/2013), EX 743 (06/13/2013)
Goal Score: 740+ FICO scores
Take the FICO Fitness Challenge Silver Spade Garden Club Member - Last App: 03/04/2013 - No apps until Fall 2013
Cards: Cap1 Venture 6.4k, Cap1 NHCR MC 750, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 4k, Citi Diamond Preferred MC 7.55k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 5.7k, Kay Jeweler's 5.1k
you might want to app for chase freedom or something from citi, and close the capone after you have recived its replacement, A 500 CL doesn't do much for you and may hold you back for better credit limits and it can be your one main goto card no more guessing games. If you PIF each month you can get a AMEX charge card that will be back dated, for best benefit app in january,
Wallet: FNBO DISC 9.5k, , Chase Freedom 3.3k & Slate 3.3k, AMEX BCP 7.5k & AMEX Hilton Surpass 5.5k & AMEX Zync NPSL, Walmart 3.3k, CapOne AU 1.5k
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