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Frequent Contributor
awp317
Posts: 257
Registered: ‎08-18-2013
0

Suggestions for my mothers credit.

[ Edited ]

After rebuilding her credit from dealing with all the cards from my decesed father showing up on her report (she was only an AU but he had high balances on alot of cards that brought her down) she now currently has a fico score of 788-792. Been employed by the Governmnet for almost 20 years (state, not feds) 6 figure income. (>250k)

 

She has lots of store cards but only a couple big name cards.  Im having a hard time telling her she needs some cards from the big players. 

 

This is whats on her credit. 

 

Mortgage 10 years in to a 30 year note. balance of about 400k, started at 650k. (she has applied bonuses from work an sales of investments to her loan to bring it down faster). She also has a car loan thats about a year old, started at 19k, down to 6k. was origionally a 36 month loan for 550 a month from BMW fiancial. 

 

I only know her limits on a few of her cards. But this is what she has CC wise. She has an AMEX optima platinum with a 24,900 limit (opened in 84). Target visa with a 6500 limit (opened in 02), and a BB&T platinum card with a 5k limit (opened in 98). Then she has an abundance of store cards. Bestbuy, Lowes, sears, macys, stienmart, jc penny, etc. They only give her like a 2500-5k limit and can only be used at those stores. No idea when they were opened.  So she doesnt ever show a lot of avalible credit then having only 3 real credit cards. 

 

What would you reccommend she apply for? She never carries a balance so 0% is not required. She does not like citi or bank of america due to how she was treated by them when dealing with dads estate. I would really like her to get a couple cards with high limits to boost her credit. Suggestions? Thanks!

Amex Platinum NPSL (with option to carry) I Citi Prestige World E 35k I USAA World MasterCard 35K I Chase Sapphire Preferred 25k I Barclays Arrival World Mc 25k I Barclays Arrival+ World E 25k I Southwest Chase 24K I PenFed Visa Sig 23k I Target Visa 12k I Chase Freedom 10,100 I Discover IT 10k I Lowes 42k
Edward Jones LOC 590k (limit varies depending on market) @3.49 I BB&T HELOC 250k @ 3.25
Chase Jumbo Mortgage Approved@ 4.6% 3/10/14!!!
Valued Member
matthallis
Posts: 48
Registered: ‎03-08-2013
0

Re: Suggestions for my mothers credit.

I would suggest her to get a chase card. Maybe discover also

Gardening as of 7/7/2013
Established Contributor
Ravensfan2001
Posts: 566
Registered: ‎11-10-2012
0

Re: Suggestions for my mothers credit.

Just curious... With scores nearing 800's, does she really need a boost? I would go with Chase or another Amex. :smileyhappy:

Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Mortgage Scores:(7/24/13 lender pull) TU 663 | EX 635 | EQ 649
Current Score (11/7/14): TU 664 | EX 605 (no update) | EQ 661
Goals: 680 across the board by 3/2015. Last app 7/16/14 (auto loan)
*** Homeowner 9/27/13*** All but 2 CCs are in the sock drawer!***
Valued Contributor
takeshi74
Posts: 3,217
Registered: ‎06-05-2013
0

Re: Suggestions for my mothers credit.

[ Edited ]

+1 At 750+ a boost isn't really needed.  Why do you think she needs a boost from "big name cards"?

 

If you want card suggestions we'll need more info.  What's her spend like?  What are her major categories?  Any other criteria to help narrow down the options?

 

Another AmEx would give her another 29 year tradeline.

Frequent Contributor
awp317
Posts: 257
Registered: ‎08-18-2013
0

Re: Suggestions for my mothers credit.

[ Edited ]

Well none of her current cards get her any rewards, between vacation and business travel she flies atleast once a month and does alot of hotel stays. The state does re imburse her for business travel but she pays upfront. I look and say might as well get benefit of the traveling then. She then just does day to day things, grocery, gas, etc. I guess something more geared towards maximizing her rewards, with a nice limit to have just incase. 

 

I was thinking a chase as well, not sure whether to go chase freedom or sapphie, and maybe a barclays of some sorts. 

 

Would amex give her another revolver when her optima is a revolver with already a 25k limit? 

Amex Platinum NPSL (with option to carry) I Citi Prestige World E 35k I USAA World MasterCard 35K I Chase Sapphire Preferred 25k I Barclays Arrival World Mc 25k I Barclays Arrival+ World E 25k I Southwest Chase 24K I PenFed Visa Sig 23k I Target Visa 12k I Chase Freedom 10,100 I Discover IT 10k I Lowes 42k
Edward Jones LOC 590k (limit varies depending on market) @3.49 I BB&T HELOC 250k @ 3.25
Chase Jumbo Mortgage Approved@ 4.6% 3/10/14!!!

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