When Should I Apply

[Anonymous]

Hi I Have a 563 FICO. I have 2 CC one from B of A and one from Sears which is Citibank. Now i keep them in good standing and pay ontime. I have been getting offers from 1st Premier and Orchard bank. What I want to know is it worth paying all those fees,and will it help my FICO any. Thanks for any advise.

[wmarat]

I have alergie to AF, but it's me.

[voidman]

What are the limits on those 2 cards.... I assume Sears is a visa too... if yes, they you should use those 2 cards to bring your score up... No need to get those cards with AFs. 

Try to keep the util below 9% every month..., just pay off additional balance before the statement cuts so that the cards report util below 9%. 

[cobra19]

I'd go for the Sears card, but stay away - far away -  from FP. Instead, visit your local CU and get a card, or check out some of the CU's frequently discussed here.

[Anonymous]

I would highly recommend you get a secured card. I would get a bofa secured since with good payments and no overlimits they usually unsecure after 12 months

Bofa: $300 deposit $29 fee for $300 limit which will grow with you

First Premeire: ~$179 initial fee +~$200 year (monthly fee+ annual fee) for $200\250 limit doesnt grow

[Anonymous]

I have a $500 limit on the unsecured BofA; and, a $1200 limit on the Sears department card. It is not a MC or Visa.

Will a secure card help in this situation? I agree that I shouldn't get the 1st Premier or Orchard unsecure card because of the AF.

I didn't think a CU would even consider issuing a CC to me with a 563 FICO.  

Message Edited by mklar1836 on 11-18-2008 06:28 AM

Message Edited by mklar1836 on 11-18-2008 06:31 AM

[Anonymous]

Don't apply for the FP card! My ex husband got that card and the fees are ridiculously high. He had an initial CL of  $300; however, by the time he paid all the fees, he only had $79 in available credit. On the plus side, after he had the FP card for about 4-5 months, he was preapproved for a Chevron gas card. Now, he has a few CC from prime lenders and an installment loan from Mitsubishi Motors at 7.99%.

Are you trying to lower your utilization by getting more cards or are you trying to get a better mix of credit? Do you have an installment loan? If not, that may help with the mix of credit. 

[cobra19]

Most CU's pull EQ, exclusively. Do you know your EQ?