@Anonymous wrote:
@MzOptimistic wrote:
I want a VS, JCP and Express card but I'm told not to rack up on store cards..It's good to have a mixture of different credit (store, visa cc, loans etc) but I wouldn't personally get too many store cards. I only have JCrew and express only because I'll be using those for my 6 yr old son. Everything else is CCs and my mortgage.
Yes....I'm going to get VS and JCP CC's within the next 6 months or so because I do shop at those stores. I need to let my current cc's and auto loan start reporting so my scores will rise but yessssss, I am definitely grabbbing those :-)
Starting Scores in BK13: EX521,TU537,EX520
My plan is in motion and things are progressing better than I could have hoped. My biggest spend areas are travel, dining, Amazon, groceries, gas and I definitely prefer cash back over points/miles tied to specific programs. I'd also like to increase my overall limits (who doesn't here on myFICO!), build some existing relationships and expand to include some new lenders.
Here's my plan & progress in order of priority:
1. Get SSFCU Power Travel Rewards WMC - Success $5k! This card gives 3.3% rewards on dining & travel, so combined with my Sallie Mae Card and Amazon Store card, I have all my biggest categories covered with 3.3%-5% rewards. This card also offers amazing terms like 11% APR (my lowest), 7.9% APR on transfers (not promotional), no annual fee, no balance transfer fee and even no cash advance fee, 120 day price protection, no FTF.
2. Get Arrival+ - Success $3k! I know it's been nerfed, but really with the Sallie Mae and SSFCU cards covering all my major categories, my general spend is going to be minisclue going forward. I'm getting it for the sign-on bonus, and also because I'd like to extend my relationship with Barclays. I got the Sallie Mae 6 months ago via recond and my profile was rough looking (high balances reporting because I didn't pay before statement cut, very little other revolving, baddies). I'm stoked with the instant approval and happy to keep things going with Barclay.
3. Get 2nd Venture - Success $30k! Well, this one accomplishes the goals of expanding my relationship with Capital One and increasing my overall limits (like 3x my total limits before). I definitely use my current Venture a lot as my general spend card, including travel & dining as my two biggest. I've charged about $5k per month since January and PIF each month. Capital One definitely liked that, but even so $30k was a jaw dropper for me. Funny thing is that under my new plan, I won't have much general spend because my two biggest categories of travel & dining are now covered, so my spend will likely go way down.
4. Find out if I'm on BL with Citi, BofA & Chase - don't have final results yet, but it appears to be yes for chargeoffs from 2010 settled in 2013. Will have to keep working on those. i do have a secured card with BofA, and I have an old non-reporting business TL with Citi. I don't need anything at the moment, but down the road I'd like to get back in with them because they have some nice cards to churn points with.
5. Combine my old Venture limit into my QS MC - not done yet, will do once the button returns to Capital One.
6. Request PC to QS WMC - will try once I do #5.
I'm pretty amazed and feel very fortunate that my plan went off as well as it did. Yes, a higher limit on the Arrival+ would be nice, but really I won't be using the card after reaching the sign-on. Definitely wouldn't mind getting a higher limit on the SSFCU card because it's not just an awesome rewards card for me, but also the best card I have for BT, low APR or cash advance - things that I never use but would be good to have as backup. Otherwise, I couldn't have dreamed it up better.
@Anonymous wrote:
@happypill wrote:My plan is in motion and things are progressing better than I could have hoped. My biggest spend areas are travel, dining, Amazon, groceries, gas and I definitely prefer cash back over points/miles tied to specific programs. I'd also like to increase my overall limits (who doesn't here on myFICO!), build some existing relationships and expand to include some new lenders.
Here's my plan & progress in order of priority:
1. Get SSFCU Power Travel Rewards WMC - Success $5k! This card gives 3.3% rewards on dining & travel, so combined with my Sallie Mae Card and Amazon Store card, I have all my biggest categories covered with 3.3%-5% rewards. This card also offers amazing terms like 11% APR (my lowest), 7.9% APR on transfers (not promotional), no annual fee, no balance transfer fee and even no cash advance fee, 120 day price protection, no FTF.
2. Get Arrival+ - Success $3k! I know it's been nerfed, but really with the Sallie Mae and SSFCU cards covering all my major categories, my general spend is going to be minisclue going forward. I'm getting it for the sign-on bonus, and also because I'd like to extend my relationship with Barclays. I got the Sallie Mae 6 months ago via recond and my profile was rough looking (high balances reporting because I didn't pay before statement cut, very little other revolving, baddies). I'm stoked with the instant approval and happy to keep things going with Barclay.
3. Get 2nd Venture - Success $30k! Well, this one accomplishes the goals of expanding my relationship with Capital One and increasing my overall limits (like 3x my total limits before). I definitely use my current Venture a lot as my general spend card, including travel & dining as my two biggest. I've charged about $5k per month since January and PIF each month. Capital One definitely liked that, but even so $30k was a jaw dropper for me. Funny thing is that under my new plan, I won't have much general spend because my two biggest categories of travel & dining are now covered, so my spend will likely go way down.
4. Find out if I'm on BL with Citi, BofA & Chase - don't have final results yet, but it appears to be yes for chargeoffs from 2010 settled in 2013. Will have to keep working on those. i do have a secured card with BofA, and I have an old non-reporting business TL with Citi. I don't need anything at the moment, but down the road I'd like to get back in with them because they have some nice cards to churn points with.
5. Combine my old Venture limit into my QS MC - not done yet, will do once the button returns to Capital One.
6. Request PC to QS WMC - will try once I do #5.
I'm pretty amazed and feel very fortunate that my plan went off as well as it did. Yes, a higher limit on the Arrival+ would be nice, but really I won't be using the card after reaching the sign-on. Definitely wouldn't mind getting a higher limit on the SSFCU card because it's not just an awesome rewards card for me, but also the best card I have for BT, low APR or cash advance - things that I never use but would be good to have as backup. Otherwise, I couldn't have dreamed it up better.
Not sure if i was in the BL with Chase since i burned them in BK, but thankful they gave me a chance with the CSP. Does your QS MC have a lower APR than venture? BOA denied me last month for cash rewards card due to BK an citi double cash as well. Good think i didnt burn AMEX.
No clue what the APR is on any of my cards. I don't carry a balance so it just isn't a factor. I do think at some point it would be good to have a card specifically for the purpose of BT with low APR. Actually the new SSFCU card I got has 7.9% BT APR and no fees of any kind so that's nice. My reason for combining my old Venture into my QS MC is because the Venture has an AF while the QS does not. It will be replaced by my new Venture and also give me a shot at asking for WMC upgrade on the QS.
Yeah, BL sucks but it's good to know for sure. The analyst at Chase specifically asked if I knew I had a chargeoff with them so that was definitely on their radar. My baddies drop off early 2017 and I think I'll have a shot with Chase and BofA then. Definitely a good thing you didn't burn Amex, they might have the longest memory of all.