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I would each have 3 credit cards for maximum scoring.
For you:
Perhaps Chase Freedom
Amex Blue Cash Preferred or Costco
Fidelity Amex for 2% would be my #1 pick (backed by FIA which is Bank of America
For him:
NAVY! Why has he not joined Navy and gotten a credit card?!
2. Discover (not a bad choice for both of you actually)
you could always add a NavCheck at Navy with probably the full $15k CL for each of you but I really would suggest having at least 2 cards from other places besides Navy too to build higher CL's somewhere that isn't known for throwing such huge lines out.
oh and DH should product change that Slate over to Freedom perhaps or worse case get a new Chase card and MOVE the CL from the slate over and then close it... Slate is only good for BT and then get rid of in my opinion.
@Creditaddict wrote:oh and DH should product change that Slate over to Freedom perhaps or worse case get a new Chase card and MOVE the CL from the slate over and then close it... Slate is only good for BT and then get rid of in my opinion.
since theres no annual fee on Slate why close
@john398 wrote:
@Creditaddict wrote:oh and DH should product change that Slate over to Freedom perhaps or worse case get a new Chase card and MOVE the CL from the slate over and then close it... Slate is only good for BT and then get rid of in my opinion.
since theres no annual fee on Slate why close
I would rather PC it but otherwise I would get a new chase card that earns rewards and just move this CL.
Thanks for the suggestions!
DH is a NFCU member - he just doesn't have a seperate CC through them, as we both use the Flagship card that's in my name. If we have seperate CCs through NFCU, would we be able to combine our points? We use the points primarily for travel, so its nice to have them all in one place so we can book tickets together without a hassle. But yes - he is a member and eligible for a CC on his own.
On Navcheck - I've seen it mentioned around here. Isn't it an overdraft protection for 15K? I've never overdrafted an account, so I've never considered it - but from what I've read here, it shows up on your CR like a CC, right? Sounds like it would be a good option for us each to have another CC TL without actually having another CC to worry about. How does Navy handle it? Do you have to draw money from it periodically, or does it stay open and keep reporting if you never use it?
I've been considering Fidelity Amex - thanks for that suggestion. I'm hesitant on BCP - I had an Amex Blue in college, so I could probably get it backdated to 1999 or 2000, BUT I know I paid that account late a few times because I was disorganized in those days. It was 10+ years ago, but I've heard that Amex has a long memory for things like that. Costco's a no-go as we don't shop there, but Discover might work well.
DH...sigh...he's REALLY apprehensive about CCs because his parents use them as an extension of their income. He's learned otherwise from me, but he's still very cautious. Heck, I'm cautious myself. I think I'll be able to talk him into replacing the credit union card with something new, but I'm not sure he'll want a third card, so Navcheck might be the way to go for him. We definitely want to keep the Chase TL because it's an old account - we just don't need a BT card. Freedom would probably be more useful.
I wouldn't worry about lates on amex as they are not even on your credit anymore... they have long memory but if you paid them in the end then that memory has probably faded.
@Creditaddict wrote:you could always add a NavCheck at Navy with probably the full $15k CL for each of you but I really would suggest having at least 2 cards from other places besides Navy too to build higher CL's somewhere that isn't known for throwing such huge lines out.
This is a general question, since I'm still pretty new to the forums here. I've read this general advice here before - to establish relationships with various lenders. How important is this, really? I understand the "not putting all your eggs in one basket" concept, but don't banks usually want your business, regardless of whether you have a previous relationship? Just trying to understand. Aren't applications based on your CS, income, etc? With a reasonable income and a high FICO, would I be denied for a future loan or CC or whatever just because I don't have a current account with a lender? That has never been my experience. What exactly am I preparing for by establishing relationships with various lenders? Thanks to anybody who answers - just trying to understand the advice, which is commonly repeated around here.
@Rikku wrote:
@Creditaddict wrote:you could always add a NavCheck at Navy with probably the full $15k CL for each of you but I really would suggest having at least 2 cards from other places besides Navy too to build higher CL's somewhere that isn't known for throwing such huge lines out.
This is a general question, since I'm still pretty new to the forums here. I've read this general advice here before - to establish relationships with various lenders. How important is this, really? I understand the "not putting all your eggs in one basket" concept, but don't banks usually want your business, regardless of whether you have a previous relationship? Just trying to understand. Aren't applications based on your CS, income, etc? With a reasonable income and a high FICO, would I be denied for a future loan or CC or whatever just because I don't have a current account with a lender? That has never been my experience. What exactly am I preparing for by establishing relationships with various lenders? Thanks to anybody who answers - just trying to understand the advice, which is commonly repeated around here.
Well if you have 3 cards and 2 are under $500 and only 1 is $10k I might think as a banker that you might not be able to handle larger lines or why wouldn't all your lines be closer to $10k.
computer applications will probably not be looked at in this way but a manual review might turn up a question or two about it.
Thanks, that makes sense - so it makes sense to try to get all of your credit lines to be about the same. Is this only a factor in determining initial CLs on new cards, or important for mortgages or other types of credit?