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I've never received any mailed in offers for credit cards. My credit in 2/3 credit reports were around 700-720. I've had a bank of america credit card since 2010 and recently applied and use a Chase freedom and Bank of america balance card. Doesn't mailed in credit card offers mean they want you to be apart of their bank? How would they find me?
And.. Is Discoverit still offering 100+ for $500+ spent? I can't find it on the main website.. I think I'm definitely going to applying for Discover it. It offers the monthly free fico creditcard report.. and I haven't yet even checked my credit score. I don't know what I'm waiting for. I might also want to sign up for citi and maybe american express, at least 2 of the three sometime in march 2014. I don't really purchase anything on Amazon so the new American Express blue card amazon prime offer wouldn't be much use to me, are they still offering $ for $ spent as well?
..Also.. my first ever credit card (reward card) has a $800 limit. This past month I had $300 on it and found out that it actually appeared on the statement and paid it that same day. Will this hurt my credit ? I had the money to pay it off before, I just didn't know the statement was coming up. All my other cards have a lower balance and a higher limit.. Does the other cards help the $800 limit card with the high utility?
For example.. I probably have.. a .. $5000 total credit limit and reported total was about $400. Would this mean this won't negatively affect my credit score? Or does it still hurt because of the $800/300
Thank you!
I started getting offers in the mail 3 years after I got my first CC. They get your information from the CRAs (they sell it to banks).
Personally, I would wait to apply for credit until next month when the $300/800 util isn't reporting.
Thanks for the information! I plan to start applying for the cards in March of 2014. I applied for the 2 CC's Sept 2013. 6 months is the best time to wait, right?
New inquiries hurt less after 6 months, but inquiries don't count at all after a year. If you have a thin file like I do, I plan to wait at least a year until applying again, unless I get antsy and ask Barclaycard and Discover for CLIs. But 6 months should be fine if you have a thick file.
What would you consider thick?
I have the bank of america rewards card from 2010 $800 limit
I got a VS CC in 2012 $800 limit
I got a American eagle card in 2012 (I never used it.. don't know why I even applied..) $250ish limit?
Chase freedom 2013 $2800 limit
Bank of america better balance 2013 $1800 limit.
I use the VS card a lot with a low ulti. Bank of america rewards I've been using since I got it, in the beginning for the first two years I used it only on gas.
I've been mainly putting all my purchases on the chase freedom. Making sure the ulti is low.
And I've only asked once for a credit increase and that was for the bank of america rewards card which has an annual fee of $39 .. I'd like to close this before I get charged next year.. which seems like a bad idea since it's my oldest CC..Anyways, the credit increase was only $500 to $800.. I probably should have asked for more, but I figured my low income would make it seem crazy to ask for $1000+ even though Chase and the better balance instantly approved 1800 and 2800
In the past, when my bank of america reward card had the $500 limit.. I did rack it up to 200-400 a few times and it was on my statement, but that was back in 2012ish..
I've never had a late payment or fee for not paying what was owed.
For some reason, 3 or 5 years is sticking in my head. Although I'm not 100% sure. Perhaps someone else can answer that question for sure.
The discover signup bonus is $150 when you spend $750 in the first three months. Here is the offer link:
https://www.discovercard.com/cardmembersvcs/acqs/app/display?pageFileId=listingsite&sc=KCV6