Reply
Established Member
Posts: 24
Registered: ‎10-14-2012
0

Re: New and need some help [approved for Blue] Thank you ! :)

Thank you for your help, :smileyhappy:

 

now I wounder, the BLUE card should be outdated for more than 9 years of history, I wounder if I should wait until it reports to CR

when I paid the balance my FICO score went up tp 745, this when I applied for the BCP and got instant approval, I am sure the score will drop a littel after 

the inq however the FICO score sim tells me that my score should go UP right away after the CBP because the 2 main reasons 

for pulling my score down acording to myFICO are:

1- no revolving account 

2- co credit card reporting [ only charge card ]

so, should I wait for a month until this happends [ also an Inq is due to be droped in the next few days ], and apply for Chase Freedom 1st ? or go with Walmart 

I would like also to have Amex Delta card, but waitting for a better bonus offer 

 

Best Regards

 

Valued Contributor
Posts: 1,108
Registered: ‎03-22-2012
0

Re: New and need some help [approved for Blue] Thank you ! :)

I would normally advise you to apply for the Walmart card now, but seeing how your AMEX BCE has such an outstanding CL I would advise you to wait until the BCE reports. Lenders look at your existing CL to determine what they will grant you as their starting CL.

 

Make sure you use the BCE as soon as you can, then wait until 2 weeks after your first statement's payment due date before applying for new cards.

 

I think you need to plan a mini app spree at that point. You could do so much better than a Chase Freedom card. I would still advise getting the Walmart at that point though. Walmart is really a good card to carry. They are the world's largest corporation after all.



Starting Score: EQ 658 6/18/12
Current Score: EQ 705 4/16/15 - EX 707 3/8/15 - TU 707 3/8/15
Goal Score: EQ 720+
Take the FICO Fitness Challenge

Established Member
Posts: 24
Registered: ‎10-14-2012
0

Re: New and need some help [approved for Blue] Thank you ! :)

Wallmart, I agree with you, will get that , better than Freedom ? what do you recommend ?

 

Valued Contributor
Posts: 1,108
Registered: ‎03-22-2012
0

Re: New and need some help [approved for Blue] Thank you ! :)

I take that back! If you want a CC with cash back and no annual fee, Chase Freedom is a good card.

 

For your app spree a month or so from now, I would suggest applying for the Chase Freedom first and then the Walmart card. Apply for them one right after another on the same day.

 

After the Chase and Walmart cards are 6 months old I would suggest applying for 2 more cards, one each from the following prime banks:

 

CitiBank (Diamond Preferred, Cash Back)

Bank of America (1-2-3 Rewards, Cash Back)

Discover

Wells Fargo

 

You will then have enough credit to last a lifetime. You will have credit cards with 4 out of the 6 prime banks that do business in the USA. If you take care of these cards they will take care of you. You can call every 6 months for CLIs if you feel your CL aren't high enough and get them.

 

Make sure you stop back and let us know how it is going.



Starting Score: EQ 658 6/18/12
Current Score: EQ 705 4/16/15 - EX 707 3/8/15 - TU 707 3/8/15
Goal Score: EQ 720+
Take the FICO Fitness Challenge

Established Member
Posts: 24
Registered: ‎10-14-2012
0

Re: New and need some help [approved for Blue] Thank you ! :)

Thank You, I will follow that, 

and will send updates here :smileyhappy:

 

Best Regards

Valued Contributor
Posts: 1,108
Registered: ‎03-22-2012
0

Re: New and need some help [approved for Blue] Thank you ! :)

Good luck!



Starting Score: EQ 658 6/18/12
Current Score: EQ 705 4/16/15 - EX 707 3/8/15 - TU 707 3/8/15
Goal Score: EQ 720+
Take the FICO Fitness Challenge

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.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

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.