What could I get approved for? Need advice!

[Anonymous]

I'm wanting to app for a card around mid-June or first of July.  My latest scores are in my sig, I will update them again before I actually app.  FAKO (CCT) scores as of this morning are: EX 712, EQ 712, TU 725.  I've got zero derogs, but more inqs than I'd like and most of my accounts are new.  I would like to get a good-ish rewards card with a good limit to use for my every day card.  I like the security of using a credit card for everyday purchases, but with my limits so small I'm forced to pay on the card several times per month which I'm worried will make me look spastic.

Inqs: EX 11, EQ 9, TU 2.  

Current TLs are Auto Loan opened 10/03 (paid in full),  Auto Loan opened 6/05 (currently paying), BOA secured ($300 limit, 0 bal) opened 12/08, Home Depot store card ($1400 limit, 0 bal) opened 2/09, HSBC Rewards MC ($600 limit, ~$20 bal) opened 3/09.  I also have a Mortgage opened 3/09.

Does anyone like new mortgages, lots of inqs, and lots of new accounts?

[Anonymous]

Do you have any military or Department of Defense contractor background in your family (father, mother, self, sibling, grandparent) or somebody in your household? 

[Anonymous]

I knew I forgot to mention something; no, I don't have any military or other connections that would be helpful in joining special CUs.

[Itsmeagain]

Alliant CU is offering higher CL's and has great APR for investments.  You can qualify for membership by joining the National PTA ($25.00 one time fee), unless you're a member of your local PTA.  

http://www.alliantcreditunion.org/ 

[Anonymous]

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@Anonymous wrote:
I knew I forgot to mention something; no, I don't have any military or other connections that would be helpful in joining special CUs.

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Then I probably agree with itsmeagain, that Alliant is a good one.  Just make sure if you have any kind of Equifax montioring, ScoreWatch or other services that your credit file is not "locked" or "frozen" to new inquiries.  Verify this first if you have now or ever had an Equifax monitoring or subscription service. 

Alliant, if your scores and credit suffice, presents various instant preapproval offers when you join the credit union and set up an initial share (savings) account with just a $5 deposit.

I have heard decent reviews on Affinity, but have no personal experience.  PenFed is good if your credit is good (700's with no baddies and no recent accounts and not having high debt reported), but they are conservative.  My brother and sister were both instantly approved through PenFed.  I had to wait for review and submit paystubs, but then again I asked for a large CL.  PenFed can be joined by anyone (you have to join NMFA for $25).

You may be well served by looking in your town at the local CU's.  Sometimes the best deal is in your own backyard, so to speak.

[wmarat]

I doubt very much that either PenFed or Alliant will approve unsecured credit products with a lot of recent inq.s and new accounts, but as always YMMV.

[Anonymous]

Sounds like maybe I'd be better off waiting a while?

[wmarat]

Yes, you'd be better off waiting at least 6 months.

Message Edited by wmarat on 05-19-2009 08:16 AM

[Woolfman]

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wmarat wrote:
I doubt very much that either PenFed or Alliant will approve unsecured credit products with a lot of recent inq.s and new accounts, but as always YMMV.

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In my experience with Alliant this is not totally true . In the last year and half  i have opened an Orchard mc, Bofa mc ,Kays, Target red card,Best Buy store card , Best buy MC ,Dell account , New mortgage, New car , Applied for probally 4 or 5 other cards that didnt approve me (22 inqs on EQ i think total) only had a 900 of 2500 on dell and 350 on kays of 1300 . Alliant instantly approved me for a 5k cl Visa and 15k car loan .This was just in april. 

[wmarat]

As I wrote, YMMV.

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@Woolfman wrote:

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wmarat wrote:
I doubt very much that either PenFed or Alliant will approve unsecured credit products with a lot of recent inq.s and new accounts, but as always YMMV.

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In my experience with Alliant this is not totally true . In the last year and half  i have opened an Orchard mc, Bofa mc ,Kays, Target red card,Best Buy store card , Best buy MC ,Dell account , New mortgage, New car , Applied for probally 4 or 5 other cards that didnt approve me (22 inqs on EQ i think total) only had a 900 of 2500 on dell and 350 on kays of 1300 . Alliant instantly approved me for a 5k cl Visa and 15k car loan .This was just in april. 

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