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Member
DrK
Posts: 7
Registered: ‎04-08-2010
0

Should I apply for a new credit card? If so, which one?

[ Edited ]

I have had the Total Visa Card for 8 years. Unfortunately, it only has a CL of $800. I would like to have a new CC with a much higher CL. Should I apply now? I don't have any inquires within the past 12 months.  I don't have any baddies either. In addition, my revolving debt balance is zero. 

 

EX FICO - 787 (6/2010)

TU FICO - 763 (6/2010)

EX FAKO - 727 (6/2010)

 

Please suggest a good CC for me. Thanks!

 

Senior Contributor
score_building
Posts: 3,534
Registered: ‎01-10-2008
0

Re: Should I apply for a new credit card? If so, which one?

Are you paying an annual fee on that?  Any other accts?  

What are your reward preferences if any?  Based on the info in OP I'd say go to the Pentagon Federal website and see if you like any of their cards, also look at Amex.

 

Depending on income and other factors If you' re just looking for a higher limit, my guess is you are about to get a significantly larger CL than your current one on your next app regardless of which cc you choose.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Moderator Emeritus
fused
Posts: 16,374
Registered: ‎03-12-2007
0

Re: Should I apply for a new credit card? If so, which one?

 


score_building wrote:

Are you paying an annual fee on that?  Any other accts?  

What are your reward preferences if any?  Based on the info in OP I'd say go to the Pentagon Federal website and see if you like any of their cards, also look at Amex.

 

Depending on income and other factors If you' re just looking for a higher limit, my guess is you are about to get a significantly larger CL than your current one on your next app regardless of which cc you choose.


I tend to agree with your statement. My only issue is how high, seeing that OP doesn't have a big line on their reports.

 

Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Epic Contributor
Creditaddict
Posts: 20,415
Registered: ‎10-23-2007
0

Re: Should I apply for a new credit card? If so, which one?

I would apply for Amex

Fico Scores: EQ- 682 DCU, TU 671 GE, EX 695 NASA(09-24-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Walmart $400
Over 50 Cards in between :smileytongue:
Moderator Emeritus
fused
Posts: 16,374
Registered: ‎03-12-2007
0

Re: Should I apply for a new credit card? If so, which one?

 


Creditaddict wrote:

I would apply for Amex


Can I ask why?:smileyhappy:

 

Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Epic Contributor
Creditaddict
Posts: 20,415
Registered: ‎10-23-2007
0

Re: Should I apply for a new credit card? If so, which one?

you only have 1 trade line and scores close to 800.... apply for either gold card or zync card and keep that for 6 months then go back and apply for a credit card with amex and anyone else your heart desires. amex only requires a credit score to approve for charge cards. your  like a clean slate... build yourself with the best cards

Fico Scores: EQ- 682 DCU, TU 671 GE, EX 695 NASA(09-24-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Walmart $400
Over 50 Cards in between :smileytongue:
Senior Contributor
score_building
Posts: 3,534
Registered: ‎01-10-2008
0

Re: Should I apply for a new credit card? If so, which one?

[ Edited ]

FICO scores from 7/10..?

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Member
DrK
Posts: 7
Registered: ‎04-08-2010
0

Re: Should I apply for a new credit card? If so, which one?

There is an annual fee of $79. I have other accounts....Car Loan (payment less than $200 - balance less than 6K); Retail Card (no balance). I don't have any reward preferences at this time. My annual income is around 100K. My AAofA is 7+  years and I have a 15+ year credit history.


Should I consider a credit card from a Credit Union?

Valued Contributor
Uborrow-Upay
Posts: 2,710
Registered: ‎10-16-2008
0

Re: Should I apply for a new credit card? If so, which one?

[ Edited ]

I agree with CreditAddict's reasoning:

 

"You only have 1 trade line and scores close to 800.... apply for either gold card or zync card and keep that for 6 months then go back and apply for a credit card with amex and anyone else your heart desires. amex only requires a credit score to approve for charge cards. your  like a clean slate... build yourself with the best cards"

 

The credit union can come along for the ride, too...just prioritize the order in which you apply for the cards.   Ask here.

 

You will undoubtedly get better cards than you have now.  Then you can lose that $79 AF card.

 

:smileyhappy:

Member
DrK
Posts: 7
Registered: ‎04-08-2010
0

Approved by PenFed

Thanks for the great advice. I was approved for a PenFed CC today with a limit 10K++++. This was the first CC that I have applied for in years!

 

TU - 763 (FICO)

EQ - 781 (FICO)

EX = 727 (FAKO)


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