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wiwend
Posts: 55
Registered: ‎01-11-2008

need help w/decision about apping

Hello all-
I need help making a decision about whether to app for a new Chase Platinum card. I got a pre-approval offer of 0% BT for 15 months and 6.99% after that. I wouldn't even think of apping for a new card because I have a new (Jan. 09) WaMu Mypoints rewards card w/ $1000 CL; 17-year old Sears Mastercard w/ $10,600 CL; and a number of store cards. However, both my Mastercard and my Visa have high interest rates (why I don't know, I've been completely clean for over 5 years). I am taking graduate classes this summer, which I plan on paying for using my credit card.
 
What I'm thinking is that I will charge the classes to my Sears card (not a high enough CL to use my other one :smileymad: to get my reward points, then BT to the Chase card for the 0%, not use it for anything else,  and I can have it paid before the 0% is up.
 
My problem is this: is there any way to find out what the CL and ACTUAL interest rate will be before suffering a hard inq.? And, who do they pull? My scores are good, all above 700, but the only report that shows no inqs is my EQ.
 
Suggestions?
Thanks!
wiwend
1/13/08: TU:727 EQ:730 EX:710
Why does Experian hate me? And Discover? I never did anything to either of them...
4/23/08: Officially addicted to myFICO. TU:726 EQ: 741 EX: 721
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: need help w/decision about apping

As to which report they pull, Chase seems to be all over the map. I expected them to pull TU on me, but when I got the Borders Visa in February, they pulled Equifax for me in Tennessee. But they're so variable about whom they pull for which that I sometimes wonder if they're just flipping a coin.

How are your scores, and what are your baddies and how old? How much of a CL do you need?

If you specifically want a 0% BT card with a generous CL, Bank of America seems to be many people's favorite balance parking place, including mine. They even raised my CL after six weeks when I called and told them that the util was killing me. But they do not cap their 3% BT fee, unlike many other lenders, so it will cost more than a similar card that does cap.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007

Re: need help w/decision about apping

Citi has several cards with good BT offers Hauling. I got 15 months 0.0 APR with a 3 percent BT fee, but it was also capped.
Here we go again...
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: need help w/decision about apping


FretlessMayhem wrote:
Citi has several cards with good BT offers Hauling. I got 15 months 0.0 APR with a 3 percent BT fee, but it was also capped.

That's true, and if you don't need a very high BT, or if you have killer scores and they're going to give you a high CL anyway, Citi's a better deal.

One thing about BofA is that they're pretty good about high CL's if they know you have a good-size BT, because they make out quite nicely on them. Unless, of course, you actually pay it off in the 15 months! :smileywink:
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007

Re: need help w/decision about apping



haulingthescoreup wrote:

FretlessMayhem wrote:
Citi has several cards with good BT offers Hauling. I got 15 months 0.0 APR with a 3 percent BT fee, but it was also capped.

That's true, and if you don't need a very high BT, or if you have killer scores and they're going to give you a high CL anyway, Citi's a better deal.

One thing about BofA is that they're pretty good about high CL's if they know you have a good-size BT, because they make out quite nicely on them. Unless, of course, you actually pay it off in the 15 months! :smileywink:




I didn't do the BT with the application (I never do), and they gave me starting CL of 6k. After I made my first payment after transferring $2600 they auto-CLI'd me to 7.5k.

I have noticed that any time I even mention BT on the phone with BOA they try and get me to do it right then, up to my entire CL. Once they even offered to deposit 10k directly into my checking account.

I was thinking about having them do it once since it is 0APR until March 2009 and then immediately repaying it. I am thinking if I do this a couple of times it might make them raise my CL significantly.

I really won't complain though. They gave me 20k of CL with no inquiry!
Here we go again...
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: need help w/decision about apping


FretlessMayhem wrote:


I have noticed that any time I even mention BT on the phone with BOA they try and get me to do it right then, up to my entire CL. Once they even offered to deposit 10k directly into my checking account.

I was thinking about having them do it once since it is 0APR until March 2009 and then immediately repaying it. I am thinking if I do this a couple of times it might make them raise my CL significantly.

I really won't complain though. They gave me 20k of CL with no inquiry!


They kept acting amazed that I didn't want to use the whole CL, also, but 75% + the fee scared me badly enough.

What's weird is that I was looking through my online PDF April statement last night looking for details on this card, and I noticed a section that said that if you ran up the card to 100%, they could close it on you. I'd like to think they wouldn't do that after they'd been begging you to max it out, but I sure wouldn't like to risk it!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
New Contributor
wiwend
Posts: 55
Registered: ‎01-11-2008

Re: need help w/decision about apping

Sorry I couldn't get back earlier. I can't post at work.
 
Anyway, my scores are TU 726, EX 721, and EQ 741. My baddies are student loan lates, 120+ from a little over 5 years ago. Since each semester was a new loan, it looks like a lot. I consolidated them five years ago and have not had a late on anything in five years.
 
I'm a little gunshy because Discover denied me in Feb. and my MyPoints Visa was new in Jan. I don't have a lot of inqs., those are the only two hards and they're each on a different report.
 
I would love a Citi Drivers Edge card. Any thoughts?
 
Thanks.
 
wiwend 
1/13/08: TU:727 EQ:730 EX:710
Why does Experian hate me? And Discover? I never did anything to either of them...
4/23/08: Officially addicted to myFICO. TU:726 EQ: 741 EX: 721
Established Member
denetra9090
Posts: 12
Registered: ‎06-02-2008

Re: need help w/decision about apping

I am new to credit and I tried my luck to apply for Citi Drivers Edge, I got it! And not to mention that my score is lower than yours. I have been reading this forum a lot and have found Discover to be one of the hardest cards to get approved for so dont be discouraged with that. You should totally apply for the Drivers Edge and I am sure you will be approved with no problem. I wish I had scores like yours. If I did I would join American Express for sure. Anyhow, go for it and congrats on the good credit, was it a long journey?
New Contributor
hunting_bears
Posts: 112
Registered: ‎10-05-2007

Re: need help w/decision about apping

From what I know you really can't find out what the CL will be when you apply for a new card.  I like to use the assumtion that the new CCC will place your CL at or a little above what your other cards are but it could be higher or lower.  
 
 

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