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Should I apply?

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DrJim
Frequent Contributor

Should I apply?

Rebuilding my credit.  Got a "pre-selected" (not pre-approved) offer from Household Bank for their Platinum MC today.  No AF.  You can see my scores in my siggy.  I have a CareCredit with $3,500 CL and no balance and an Orchard Bank MC that I got last month with a $300 CL and $1p balance.  Just waiting for it to report and I'll PIF.  I have an auto loan that I opened in January and has been reporting positively.

 

Any thoughts?



Starting Score: TU 672 EQ 654 10/20/09
Current Score: TU 775 EQ 783 EX 799 (PLUS)
AMEX Delta Platinum $35K, NFCU Visa Signature $30K, HHonors Reserve Visa $35K, WF $13.5K, IHG Rewards Club MC $25K
Message 1 of 14
13 REPLIES 13
bakalao2k
Frequent Contributor

Re: Should I apply?

What type of intro purchase APR/balance transfer are they offering?  What will the normal APR be after the promo is over?  

 

Do you know why there is a huge disparity betwen your TU and EQ scores?  The 70 point difference is huge.  You should pull your most recent EQ report and look for any mistakes/negatives.

TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10
Message 2 of 14
Wolf3
Senior Contributor

Re: Should I apply?

 


@DrJim wrote:

Rebuilding my credit.  Got a "pre-selected" (not pre-approved) offer from Household Bank for their Platinum MC today.  No AF.  You can see my scores in my siggy.  I have a CareCredit with $3,500 CL and no balance and an Orchard Bank MC that I got last month with a $300 CL and $1p balance.  Just waiting for it to report and I'll PIF.  I have an auto loan that I opened in January and has been reporting positively.

 

Any thoughts?


Why would you want another card in the HSBC family?. I would suggest your third card should be a step up.  

 

Message 3 of 14
Red1Blue
Super Contributor

Re: Should I apply?

How many inq's you have on eq? If you have less than 2 inq's on eq then you should try for Nordstrom. Even if you get approved for the store card, after 6 months you can ask for the visa upgrade. They are one of the best companies. I think with your scores you might be able to get the card approved. They are very sensitive to inq's though.

Message 4 of 14
DrJim
Frequent Contributor

Re: Should I apply?

The rate is 0% and there is no AF.

 

I don't think I will app for this card.  My TU and EX are pretty different right now because of some GW's (I think).  I pulled the report on the 13th of August, and some things were taken off TU that are still on EQ.  My expereince is that sometimes EQ reports slower, sometimes much slower, than TU.

 

I'm actually sorry that I apped for the Orchard card.  I did it thinking my scores were still in the mid to high 600's.  When I was approved I saw that my TU had jumped up to 751!  I would like to get a few good bank cards with decent limits, but thought I had to start with a sub-prime card.

 

I think I'll let this card and my other stuff age another 6 months or so, and depending what my scores are, and what baddies drop, try for a better card.

 

Thanks for the input.



Starting Score: TU 672 EQ 654 10/20/09
Current Score: TU 775 EQ 783 EX 799 (PLUS)
AMEX Delta Platinum $35K, NFCU Visa Signature $30K, HHonors Reserve Visa $35K, WF $13.5K, IHG Rewards Club MC $25K
Message 5 of 14
Anonymous
Not applicable

Re: Should I apply?


DrJim wrote:  I let this card and my other stuff age another 6 months or so, and depending what my scores are, and what baddies drop, try for a better card.

Good plan.  While you're letting stuff age, check out your AAofA.  Do a little quick math and see what they are now, and what they will be when you add an additional account.

 

Congrats on your 751!  Great score!

Message 6 of 14
Creditaddict
Legendary Contributor

Re: Should I apply?

with your scores I would look for better banks then Household for your next card.  I really like the Nordstrom suggestion, they are an awesome bank that will grow with you ten fold as you build relationship with them. Nordstrom Customer Service rivals Amex too.  you also might consider a charge card from Amex, like the Zync card.

Message 7 of 14
crosbyk1
Frequent Contributor

Re: Should I apply?

Love my Nordstrom card. I have only a few cards that I don't regret applying for and this is one of them.


Starting Score: 744
Current Score: 744
Goal Score: 800


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Message 8 of 14
Wolf3
Senior Contributor

Re: Should I apply?

 


@Creditaddict wrote:

with your scores I would look for better banks then Household for your next card.  I really like the Nordstrom suggestion, they are an awesome bank that will grow with you ten fold as you build relationship with them. Nordstrom Customer Service rivals Amex too.  you also might consider a charge card from Amex, like the Zync card.


IMO, Amex no longer rivals Nordstrom in customer service.

 

Message 9 of 14
DrJim
Frequent Contributor

Re: Should I apply?

Ended up applying for a Wells Fargo card because my bank was purchased by them and they pull TU.  Imagine my surprise with an immediate approval and an $11,000 CL!  Think I'm done apping for a while!



Starting Score: TU 672 EQ 654 10/20/09
Current Score: TU 775 EQ 783 EX 799 (PLUS)
AMEX Delta Platinum $35K, NFCU Visa Signature $30K, HHonors Reserve Visa $35K, WF $13.5K, IHG Rewards Club MC $25K
Message 10 of 14
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