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Established Contributor
Posts: 541
Registered: ‎03-20-2009
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what CC should I consider next?

Okay so now I’m wondering what my next steps are.  I got the following new cards this year as part of re-building my credit.  I haven’t had any CC in almost 5 years!

 

NFCU Visa $1,200

NFCU MC $1,000

NFCU LOC $500

Sears MC $300

Sears Charge Plus $1,800

Best Buy MC $510

FFCU Visa $500

 

Obviously my scores have taken a hit from all the inquires/new cards.  These were all EQ pulls as that is my better CR.  Right now I’m working on paying on time.  I have a new plasma sitting on my Sears Charge Plus at 0% interest/payments for 12 months which will be paid off before that expires but makes my utilization very high on that card currently. 

 

So now at this point I’m trying to figure out what my next steps are.  Do I wait until the cards age & then try for CLI so my AAoA doesn’t take any more of a hit?  Should any of them be closed??  I was thinking maybe the Sears MC & Best Buy MC.  They are both backed by HSBC.  Only the BB card has an AF though. 

 

I would at some point in the future like to apply for a card with a prime bank.  Something like Citi maybe.  This year I was happy to take any cards (other than those with tons of fees) that I could be approved for so I could prove myself again.  I’m trying to look ahead to what might benefit me in the future.  The only other card I can think of would be the Kroger 1-2-3 MC because of the rewards.  I shop at Kroger all the time.  I app this year but was turned down for too many recent inquiries. 

 

I want to thank everyone on here for their help.  I would have never known about NFCU if it wasn’t for this board.   And fortunately due to my father being retired Air Force I was able to convince him to join so I could join. 

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
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Re: what CC should I consider next?

That's a nice portfolio.

 

IMO, you need to sit back, pay down the TV debt and let the accounts and inquiries age.  I don't see any accounts that smack of easy CLI every 3/4 months....so you probably need to wait 6 at least 6 months before approaching them.

 

Continue to do whatever you can do on the other side of the coin in the meantime:  Other side = improving any derogs possible with GW/DV/PFD as appropriate and paying down balances for better uti.

 

That in combination with aging history is going to push your credit and scores up, and will result in CLI's at some point.

 

:smileyhappy:

 

 

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Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Established Contributor
Posts: 541
Registered: ‎03-20-2009
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Re: what CC should I consider next?

I've pretty much exhausted everything I can try to do on the other side of my CR to get any remaining baddies off.  My EQ report has far less baddies than TU & EX so I tend to stick with lenders that pull EQ.  My goal was to get my credit to the point I could re-fi my 21+% car loan which I did this summer with NFCU.  So I accomplished what I set out to do, but now that I'm actually getting CC again I want to do the best job I can with them also. 

 

In the past I never knew I could initiate a CLI with some CCC I always just waited on them to do it automatically which I think only USAA ever did.  I just thought that would be the best way to help my score with lower utilization but avoid losing any more age on my AAoA.  Its taken quite a hit in the last couple months.

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Senior Contributor
Posts: 4,267
Registered: ‎05-01-2008
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Re: what CC should I consider next?

[ Edited ]

If your card website has a "luv" button...hit it now & then.  Maybe every 4-6 mos. (ONLY if you know you're looking as good or better than the day they approved ya!)   I do!!  If they don't have that, I'll call!

 

Every now & then they do a hard inq, but not often.  Usually if it's been close to 1 yr since they took a peek at ya!

Message Edited by BungalowMo on 11-18-2009 12:13 PM


Starting Score: 02/2015 TU 709 - EQ 676 - EX 729
Current Score: 02/2015 TU 709 - EQ 676 - EX 729
Goal Score: 850

Bury me in the garden...last app 12.19.14

Frequent Contributor
Posts: 488
Registered: ‎04-09-2008
0

Re: what CC should I consider next?

If you want some 'luv' I've found NFCU to be very generous with the LOC increases- mine went from 3,000 to 5,000 to 8,000- I asked about every 4 months- I just gave them the amount of increase I wanted and got instant approval(after a EQ pull). I have never asked them for an increase on my credit card yet.
Moderator
Posts: 15,676
Registered: ‎07-14-2009
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Re: what CC should I consider next?

I agree that you should just take it easy for awhile. Enjoy the fruits of your labor:smileyhappy:
Established Contributor
Posts: 541
Registered: ‎03-20-2009
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Re: what CC should I consider next?


moondog7324 wrote:
If you want some 'luv' I've found NFCU to be very generous with the LOC increases- mine went from 3,000 to 5,000 to 8,000- I asked about every 4 months- I just gave them the amount of increase I wanted and got instant approval(after a EQ pull). I have never asked them for an increase on my credit card yet.

 

Can you answer for me on the LOC requests if you had to re-sign another promissary note?  I only asked for $500 because I had to be sure I was approved but really wanted to ask for more.  But when I went in the last time to ask for a larger amount it mentioned something about signing another promissary note I think & I didn't want to do that. 
Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
0

Re: what CC should I consider next?


mt2va wrote:

I've pretty much exhausted everything I can try to do on the other side of my CR to get any remaining baddies off.  My EQ report has far less baddies than TU & EX so I tend to stick with lenders that pull EQ.  My goal was to get my credit to the point I could re-fi my 21+% car loan which I did this summer with NFCU.  So I accomplished what I set out to do, but now that I'm actually getting CC again I want to do the best job I can with them also. 

 

In the past I never knew I could initiate a CLI with some CCC I always just waited on them to do it automatically which I think only USAA ever did.  I just thought that would be the best way to help my score with lower utilization but avoid losing any more age on my AAoA.  Its taken quite a hit in the last couple months.


 

There is no such thing as "exhausted" everything.  :smileywink:

 

You can write GW and PFD letters every month to CA's or old CO's even if they don't accept.  There are people who did this like clockwork month after month till all of the sudden, BAM, they got a result on 1 or more TL's.

 

You basically save the same letters, and each month change the Date of letter, and spend a 1st class stamp.  It can't hurt, right?  You can continue to research out the email addresses of high level execs or other persons of decision at various CA's or CCC's and send them direct pleas for GW (or PFD) if applicable.  Sometimes a nice personal explanation of past circumstances, current circumstances, need to get into a new house or otherwise, and that you have learned to manage credit, etc. 

 

Anyway, don't stop the process.  Continually check (at least every 2-3 months) at your CR accuracy.  GW never goes out of date.  PFD never goes out of date.  DV sometimes continues to be appropriate.  HIPPA for medical....etc.

 

Good luck and happy gardening!  :smileyhappy:

 

strictly, IMO.

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Senior Contributor
Posts: 4,267
Registered: ‎05-01-2008
0

Re: what CC should I consider next?

I agree with txjohn!!  For the price of a postage stamp...one day they'll get sick of the letters!

 

Someone on here actually started sending funny cards...comics she cut from the paper...stuff like that...then all of a sudden....CA is gone.

 

I bet they miss her humor!!  

 

....give them yours....



Starting Score: 02/2015 TU 709 - EQ 676 - EX 729
Current Score: 02/2015 TU 709 - EQ 676 - EX 729
Goal Score: 850

Bury me in the garden...last app 12.19.14

Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
0

Re: what CC should I consider next?

Sometimes it is best to wait. Time to withstand the urge to app and credit garden.
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