Credit Card Center Advertiser Disclosure†
08-04-2008 12:40 PM
08-04-2008 12:50 PM - edited 08-04-2008 12:58 PM
I would probably take a crack at the Citi HHonors - your scores look really solid and since you already have an existing line of credit with them I'm guessing that would probably work in your favor on a manual review of your account.
I don't know that I'd bother with more than one of the Visas; just a personal quirk though. I tend to carry one from each issuer for backup purposes; in case there's a glitch on the MC network and I get declined, I can use the Visa or the AmEx.
If you really want to deal with paying the annual fee on the AmEx Plat, I'd wait for 3-6 months after opening whatever Visa you pick and give it a shot. It is a great card (my dad's got one and loves it), and the worst that can happen is they say "no thanks!"
Hard inquiries do suck, but they only affect your score for a year, and even then not by a whole lot if you've got a relatively established history already.
Those are my two cents anyhow.
08-04-2008 01:06 PM
08-04-2008 01:06 PM
Codemonkey, I read your other thread, and I'm impressed with your knowledge and progress in this area, so I'm sorry to have to contradict some of your statements here.
Hard inquiries are actually more damaging to those with established histories, since any negative factor typically hits people with long, established histories worse than it hits those who are just establishing their credit.
Also, when it comes to Visa vs. MC, that distinction is virtually nonexistent. Yes, they are separate companies with separate brands, but it's much, much more important to get cards from banks you want cards from, with the rewards programs and terms you want than it is to worry about having "too many Visas and not enough MCs" and so on.
08-04-2008 01:09 PM
Good luck. Let us know how it goes!
everyone, thanks so much for your insights. I probably will only pick one or two Visas. The first one will be the more difficult to get of the two and the second will be easier (so I have a better chance even after a previous hard inquiry).
I am definitely considering the HHonors Visa because I do have a good relationship with Citi (I have been a member for over 3 years). After that I'm considering either the WorldPerks or the Marriott depending on which is easier to get.
08-04-2008 01:12 PM - edited 08-04-2008 01:13 PM
This is highly counterintuitive to be sure - you would expect that one of the benefits of an established record would be more "wiggle room," so to speak.
Though on the flip side I suppose that as your score improves the standards become more demanding, so it's easier to slip down than it would be in a lower score bracket.
08-04-2008 01:15 PM
08-04-2008 02:12 PM
08-04-2008 02:18 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.