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Frequent Contributor
Posts: 254
Registered: ‎08-19-2012
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Re: Successful app!! Now what do I do?

[ Edited ]

Smiley Happy

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Posts: 1,409
Registered: ‎07-12-2011
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Re: Successful app!! Now what do I do?

It is true that you would probably, and this is a big "if", be approved for some toy limits with some store cards if you were to app now or even 2 months from now but I see this as a big step backward.  Why would you want toy limit cards to start with now when you can have it big to start in relatively the same amount of time it would take you to grow  toy limit cards?  Doesn't make sense to me.  You just got a great stepping stone to a lot better cards with decent limits instead of staying in "toy land". A little time and some good credit history to let some baddies age while building history with a 5K card is seen as responsible by Prime lenders.  I agree that building history with different TLs is key to a great FICO and relationships with other creditors, but why keep starting over when you really are almost there now?  We all have our own journeys, but make no mistake... That CU card was a big win and you shouldn't look back.  Aim for some real Prime cards with Prime limits than go for it when the time is right instead of playing in the sandbox.  Though FICO is a big part of any app approval;  inqs, CL history and income are key factors used by the actual lenders to determine the CL and very importantly ... the APR.  Don't you want both?  Which would you rather have?  10K limit w/ 20.24% apr or 10K limit with 11.9% apr?  JMO.  Smiley Happy gosh re-reading it- it sounds so serious.  Just putting down my thoughts using a iPhone.  Ugh- hate typing on this thing in this forum... Constanly auto correcting everything even when it's right!


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

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