@afbar1114 wrote:
i think i figured out my app itch...i app because i want more credit..i used to app because i wanted a better card ie zync,chase,BoA, and other prime cards. now that i do have prime cards i want higher limits.. i wanted these cards because of the points or rewards system they have. now that i will be getting 123 card with 3% CB on gas i think ill be happier then i was and if i let every thing age and use the cards right i will soon be getting larger limits.
i am not collections free. no mor collections out there. i just need to wait and let the ones on my reports fall off. all baddies should fall off by 2015. one is due to fall off this year. 7 inqs due to fall off or no longer count towards fico by 7/2012 and another 8 by 3/2013. this is all on EQ. TU only has 6 inqs all together. so thats not a big deal to me.. EX i havent checked recently but last score i got was from BoA and it was 671 FICO. so it can be that bad. overall UTL has been 25% or less for the past few months... trying to get it even more down... but it has not been more then 30% since feb.
i would like to know would it be better to get a)whole new freedom to take adavantge of cash back offers and keep slate and maybe get a higher limit or b)pc from slate to freedom forgo the CB offer and AAoA wouldnt change. if i chose A my line up would look like this:
Slate
Freedom
Zync
BBY
Kohls
123 BoA
if i chose B my line would like this:
Freedom
Zync
BBY
Kohls
123 BoA
i will be keeping my jared card for the time being since its my highest limit card.
Home depot will be closed at one year mark and both cap1;s will be closed when paid..
thanks for any help
The way I see it, option A would mean getting new credit and hurting your AAoA. Option B doesn't get you where you need to be. I can understand the need for larger CLs. Here is what I would do:
1) Garden for another 6 months (this means no CLIs, no HPs, no new accounts)
2) use the Slate heavily and PIF frequently. Try not to let balances report to keep your UTL down. If you have balances already, pay them down.
3) use the bofa 1-2-3 card as your primary card for things like gas and grocieries. PIF each month. Use this card in place of your debit card. Use it more than the slate and the Zync because this card has the highest potential for great rewards. I use this card in place of my debit. In 6 short months, I racked up $245 in cash back and still earning.
4) Use the Zync for recurring bills such as electric, cell phone, etc earning points and building a good relationship with AMEX for later revolvers.
5) use your department store cards every 3-6 months for a very small purchase and PIF. Keep the depatment store cards as they are good tradelines and they are good for credit mix.
By doing this you will accomplish the following:
1) In 6 months, you will have Chase loving you because of usage and because of PIF. You can then PC to the Freedom and request a CLI thereby not loosing AAOA. In my opinion the freedom is the best choice since the slate earns you no rewards at all. Why use this card if you get nothing for it. This is a great account to have though because Chase loves a customer who can show them with time that you are good at managing accounts and are worthy of higher CLs and good rewards. If you play your cards right you will get much like me and increase to 3000 after about 8 months of using and PIF. They will PC you as well if you can make the point that you are a great customer and are responsible.
2) BofA in 6 months will be open to giving you a CLI since you use them and PIF. I initally got a CL of 1000 with them in 3 months they SP my CR and increased to $5000 at which time I PC'd to the 1-2-3 card, and converted to Signature. 3 months later the holidays are upon us. They didn't want to CLI me but I remained persistant and they increased me to $7000 where i stand today. You will grow with BofA if you garden and PIF and use heavily. Suggestion: I use this card like I would my bank card. I keep all recepits and I record the charges in my check book register. I then highlight the charges so I know that they are on my bofa card. At the end of 2 weeks, with my paycheck, I add up the highlighted charges and pay the bill in full. This allows me not to over spend. When I run out of money in my register, I stop using my card so that I can PIF. Just a suggestion.
This will put you with a great line up of cards with great CLs you can use. Important though not to request new credit or open other accounts while you try to grow these accounts. And trust me growing these accounts will open doors for you with other creditors as they will match your credit lines to remain compeitive with your other cards. Remember all these cccs are wanting your business, but first you have to position yourself to get the best deals from them. Once you have a great line of products and you have amazing CLS you can then garden for another 6 months, get any card you want with AMAZING lines. Trust me that's what I've done. I'm like you in that I had no credit history. I started with Orchard Bank and $300 CL. I applied fast for a bunch of cards and got them with low low CLs. Now when I apply for example the new Lowes account, I always get approved and with decent starting lines. If I didn't I would have a lowes card with $500 starting line but no my line started at 2400 and in 2 more months I can request a SP CLI and I know I will get it. Good luck and let us know how the gardening goes.
Welcome back to the forums and remember: I know I've been tough on you for apping so much, but just know there is nothing wrong with applying and wanting credit cards. I love my cards, and I love apping for new credit. You just have to do it right. Once you learn how to wait it out, you will be in a position to get any card you desire! There is nothing wrong with wanting these cards. There are still some cards I want. I will get them just with much planning. In the mean time to quell my itch, I work on growing my cards and I focus on enjoying the cards I have. I love my current cards and using them and maintaining them, and watching my rewards/points grow is just as fun as apping for new accounts!!
Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??
Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
